Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-02-10
washington GAS firm.
AND IN GOOD DEMAND
Bonds Wanted by Investors, With
Prices for All Issues Hold
ing Steadily. Z.
The Washington and Southern Bank
Transaction-Big Unified Ton
mage of Steel Company.
BY I. A. FLEMING.

BY I. A. FLEMING.
Washington Gas shares monopolized
the leading position in today's session
of the local stock exchange. In all ITO
shares of the stock sold at rs, the high
est price of the year. The excellent
earnings for 1915 and the belief that
1916 will show even better net gains
have inspired considerable confidence In
the stock by investors.
The only other stock that showed on
the sales list was ten shares OF the Ma
tional Bank of Washington. that sold
at 22oh.
other public utility stocks were
steady and without material change IN
quotations.
The demand for bonds continues ex-
cellent, with prices very strong. Amer
lean Graphophone IS sold at 80. Capital
Traction 5s at 107A. and Railway IS
at S0A. There were numerous orders
for bonds at slightly below the ruhhs
prices.
Applies for Charter.
Ezra Gould, the president of the Du-
pont National Bank. applied to the con-
tional bank charter this morning. The
procedure calls for an examination OF
the assets of the proposed bank by
bank examiner. 100000 capital having
been paid in, after which the issuance
Of a charter is up to the controNer.
Greene Cananea Copper.
Greene Cananea's production of
Q NJ
compares with 100000 pounds pro-
duced from December IL. when the
plant resumed operations. to December
81 Average daily production in Janu-
airy shows a substantial increase over
December and indicates that the plant
10 rapidly approaching capacity pro-
duction.
United States Steel Tonnage.
The announcement Of the untitled ton
mage Of the United States Steel Corpora
ton. made shortly after noon today,
agxregating 7.s22.767 tons, an increase
of 116.547 tons since the December
statement.
Baltimore Stock Exchange.
The Baltimore Stock Exchange has
decided to hold continuous fve-hour
sessions, instead of two sessions daily.
The hours are to be from 10 am. to 3
pm. daily. The listing of consider
able number of new stocks has caused
a very general revival of business. Sa-
pulpa Refining 10 one of the new Lead
ers In activity. as well as Sapulpa Pro-
ducing. organized to handle the pro-
ducing business of the first named.
twelve-dollars-a-shar advance in the
stock of the former company within
few days has caused great activity.
New Merchants Bank.
Announcement was made last even
ing of the closure of a transaction by
which the Washington and Southern
Bank will be succeeded by the Mer-
chants Bank, capital 100000. using
the state charter of the former insti-
tuition.
The same ofiices will be used by the
Merchants Bank. 1t is understood that
the transaction does not mean the pur-
chase Of the capital stock of the Wash
ington and Southern. but rather liqui-
dalton of the assets of the bank, the
proceeds to be paid pro rata to share
holders.
The announcement caused no great
surprise in the financial district, as it
was known that the annual meeting
of the shareholders adjourned to Feb
ruary II. pending completion Of ne
gotiations Of some character.
The Washington and Southern Bank
was organized under the ls.ws of West
Virginia in April, 1912, with a capital
of 100000. issued at $125 a share. j.
SeIwin Tate was its first president,
retiring later on the eve of a trip to
China, when he was succeeded by John
Mitchell. jr.
p A. Drury headed the syndicate
shat promoted the Merchants Bank
and will be its president. E. E. Her
Aell. formerly with the National Cap
:tal Bank. will be cashier. and H. C.
''Finkle. who has been cashier of the
Washington and Southern for years.
Sill be assistant cashier. II. j. Keane
.ilI be general counsel
The following will constitute the
4 oard of directors of the Merchants
lnk: Tucker X. Sands. p A. Drury,
I'm Lanier. Gustav Buchholz, ]. Sell
I'm Tate. H. B. Denham. Guy T. Scott
Dnd W. F. Jones.
Condition of the Treasury.
p The condition of the United States
Treasury yesterday was: Net balance in
general fund. s1I1,s21,so4. total re-
ceipts. s2.41S.si5: total payments. 3d.
o0s,02o.
The deficit this fiscal year is s53,243-
6+s against deficit Of 81 .391405 last
year. exclusive of Panama canal and
public debt transactions.
CHICAGO LIVE STOCK