The Washington herald., 1916-10-10
LOCAL TRADING LED
BY CAPITAL TRACTION
twenty-five Shares of Union Trust
Company Change Hands.

Capital Traction stock led the trad
ing at yesterdays session of the
Washington Stock Exchange. odd lots
selling at 81 "a and round lots at
50 1-2. A few shares of Railway COM
mon sold at 50 and the preferred
brought 81 1-2. Twenty-Five shares of
Union Trust Company changed hands
at 122. Lanston sold at II 3-4 and
closed with 1888 bid and 1914 asked
The bond market was dull. Washing
ton Gas 5s brought 1O5 "a.
Many designations from bank direc-
tOrates to conform with the law were
announced yesterday. william ].
Flather has resigned as a director Of
the American Security and Trust Com
pany. DR.. John c. Boyd will resign
from the directory OF the National
Savings and Trust Company and will
retain his position as a director Of
the American Security and Trust Com
pany. J. J. Darlington and Frank B.
Noyes have decided to remain on the
directory of the Federal National
Bank. Milton Z. Allies has quit the
directory of the American Security and
Trust Company and also the board Of
the National Bank of Washington. o.
H. P. Johnson, vice president of the
National Metropolitan Bank, will re-
sign from the directory Of the Nation
al Savings and Trust Company. Wal
ter c. Clephane. william V. Cox, and
william H. Walker, of the Second
National Bank, will also be directors of
the National Savings and Trust Com
pany.
Reports from New York yesterday
stated that Midvale Steel and Ord
nance stocks will be reasonably sure
Of 10 per cent dividends a share in
normal earning years and 20 per cent
in boom times. This is the purpose Of
the management, provided everything
goes according to plans outlined in
estimates of earnings for both of the
calendar years 1915 and 1917 of 75 per
cent in the stock without taking into
consideration earnings from rife con-
tracts. In addition II Is expected the
company will make a profit of SO or
sl5 a rife on its order for 100000
rifles which are now being delivered
at the rate of 5000 day. This out
nut henceforth will be speeded up.
The following analysis OF the cotton
situation was received yesterday by W
B. Hibbs & Co. from one of its New York
correspondents:
1T is hard to say what the cotton
market will do from the character of to-
days news. LiverpoOIs rise OF I3 Eng
lish points for spots to the new high of
10 o6d there for middling and the advance
Of about 16 points for futures, our mar
ket should open about to 10 points high
er on this further rise at Liverpool than
our close Saturday. There is, however,
the unsettling influence of the submarine
activity holding up British shipping
from the Atlantic and Gulf ports for the
present, together with the big jump in
both war risks and freight rates 1t will
cause. Therefore an uncertain and
feverish fiuctuation of a two-sided char
acter is the prospect from prevailing
conditions"
Alexander Wolf and Albert S. Galley
have been granted permission by the
Federal Reserve Board to serve as direc-
tors of two different banking institutions.
This decision is in reply to a request sub
mltted by them some time ago.
Two other applicants who filed petit
tions at the same time were refused per
mission by the board. Their names are
". ]. Flather and Frank B. Noyes.