Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-10-25
VERY LIGHT TRADING
/. IN LOCAL SECURITIES
Prices, While Not Especially Strong,
Are Fairly Well Maintained.
Potomac Electric IS Firm.
Small Inquiry for Money at Banks
Leads to Activity in Near
Maturity Investments.
BY I. A. FLEMING.

Business on the local stock exchange
today was just fair, but investors con-
tinue to accumulate stocks in modest
volume, while prices. though not
strong, appeared to be reasonably well
maintained.
A slight shading of Washington Rail
way and Electric. preferred shares, was
noted at the opening. when sale was
made at S1z. but it was followed by
recovery to 50. the price of the last
few days. Capital Traction was like
wise steady at 81
Several odd lots of Washington Gas
stock were sold at II.
Columbia Title Insurance again fig
ured in the record of transactions, with
100 shares changing hands at 10
Trading in bonds was confined large
ly to Potomac first mortgage 5s, at 105
during call and 1854 after call. Rail
way As sold to the extent of $500 only,
at s1B.
Dividends Declared.
The regular extra dividend of the
: German-American Insurance Company,
per cent, is payable November l, to
holders of stock at the close of bust
ness October IS.
The American Brass Company de-
clared two extra dividends today. az
per cent, payable November Is, and 5
per cent. payable December SO. In adj
dition the regular quarterly dividend
of Y per cent was ordered.
Small Demand for Loans.
Not for years has there been such
Washington as now exists. Merchants
seem to have less call for funds than
usual and the stock exchange interests
have absolutely no requirements what
ever.
The president of one Of the largest ma
tional banks made the statement this
morning that he had not received an
application for a loan secured by local
collateral in weeks
The employment of funds has come to
be one of the largest problems of the
banker: borrowers are welcomed. but
they have to pay the rates. 514 to per
cent on commercial ana per cent on
collateral loans
Bankers are buying large amounts of
short-term notes. equipment notes and
bonds of near maturities and acceptances
wherever obtainable.
As rule they have sought only in
terest rates through Investments. but
they have also found their purchases
profitable, because the excellence of the
demand has caused a sharp price up
turn in many of these issues.
Investments of this nature are being
acquired freely by conservative in
vestors who do not care to take the
chances on stocks. and bankers are re-
ceiying commissions of this character
daily from customers both in and out
Of town.
y Purely Personal.
o. H. P. johnson, vice president of the
National Metropolitan Bank, has re-
turned to the city from his vacation
improved in health.
President Elected.
Capt. Leonard P. steuart has been
elected president of the Northeast Saw
ings Bank.
The bank has paid-up capital of
$4,000 and promises to be an impor-
tant factor in that section of the city
The presidcnt-elect is prominent
business man of that district, and is
connected with number of commercial
associations. Election of other officers
was postponed until the annual meet
ing in January
Condition of the Treasury.
Condition of the United States Treas
ury yesterday:
Net balance in general fund. s154,-
3s3.4ss.
Total receipts. s2,S23,720.
Total payments. 1,99S.461.
The deficit this fiscal year is s76,1S2,-
sos. against a deficit of Sal, 333. O64 last
year, exclusive of Panama canal and
public debt transactions.