Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-08-26
BONDS ARE FEATURED
ON LOCAL EXCHANGE
Potomac Electric Consolidated IS
Were in Great Demand
During Week.
British Collateral Loan the Big Is
sue on New York Mart-Stocks
Show Strength.

deal of activity in bonds on the WASH
ington Stock Exchange. and while some
of the prominent stocks also on the
list have been strong, the trading in
them was rather limited. This condi-
ton is not purely local one, as trade
marts in other cities of the country
also report marked activity in bonds.
In New York, of course. the feature OF
the bond market was tho two-hundred-
and-fifty- million-doIlar British col
lateral loan. Banks throughout the
country were liberal buyers of the
British bonds. and numerous inquiries
We're also received from individuals.
The action of the British financiers in
not putting any huEdred-dollar bonds
in the issue, of course, left out
the little fellows. but they explained
this by saying that the bonds were
for short time. The bonds yield
about 512 per cent
In the Washington bond market
Potomac Electric consolidated SIS were
in great demand during the week, yes
terday an inquiry for between $4,000
and $4,000 being made on the ex-
change without any appreciate offers
being made. Had this inquiry been met
with response. it would have made
good record for the week in the local
bond market. AS it was, the total
sales of bonds for the week totaled
$4,000.
MergenthaIer and Lanston both
showed great strength on outside ad-
vices. as did Graphophone, but the
usual August nen-attendance of MEM
bers on the exchange did great deal
toward shutting off sales.
II. C. Fisher Enters Bank.
H. Cochran Fisher of this city is
one of the college students chosen by
for training for its foreign service. Mr..
Fisher is a graduate of the University
of Pennsylvania, and is a member of
the. first class chosen by the New York
financial institution under its system
of cooperative arrangement with six,
teen of the leading universities of the
United States
Under the National City Banks plan
fo-ty-fiye students who are especially
qualified for banking careers are given
an opportunity to supplement their
theoretical knowledge with twelve
months theoretical experience in the
bank in New York. Each student is
rotated on a regular schedule through
the various departments.
Weeks Bank Clearings.
Bank clearings continue to exhibit
marked improvement oyer those Of this
period in all previous years. The total
this week at the leading cities in the
United States. according to Dun's Review,
amounted to $3.50. 6s7, 4S7. an increase of
$50 per cent. as compared with S2sl2 2o6.-
80 Tor the same week last year and of
1874 per cent as contrasted with the cor
responding week in 1914, when $1,737, $685.
al was reported.
Weekly Financial Review.
NEW YORK. August 26.-Increased
activity at higher price levels was the
distinguishing feature of the stock
market week. sales in the five full
days. with two sessions of LOCO 900 to
1,3OO. 900 shares, approximatine 800 600
shares. OF this total. United States
Steel contributed almost 30 per cent on
Its advance to the new record of 39as
Steels Strength, more than any other
factor, furnished the motive power for
the upswing which at times was remi-
niscent Of last years boom In war
brides Buying of steel was evidently
OF a confident character. and seemed to
be based in part on something more
than the state of that industry.
other industrials. as well as coppers,
rose TO best quotations of recent
months, the movement in metals being
accompanied by highly favorable trade
reports and increased dividends actual
or in prospect. 1t is understood in
metal circles that the largest producers
of copper have contracted for foreign
sales running into the middle of 1917.
Munitions and equipments again were
responsive to speculative conditions
which indicated a further shifting to
other specialties, and the automobile
group was under restraint. partly in
consequence of the new financing an
nounced by the Wil1ys-Overland Com
pany.- Semi-war descriptions were ir-
regular. though higher in the main
Rails were held back by the railway
labor controversy the outcome OF
which. on the surface, at least, see med
less promising at the close of yester-
day business.
III the broad domain of finance notable
developments of the week included the
and'the public offering of the new Brit
fish note issue with Indications of
large over-subscription.
Condition Of Treasury.
The condition of the United States
Treasury at the close of business yes
terday was:
Net balance in general fund, $685.
soo,2e5
Total ordinary receipts, $2,55o,s55
Total ordinary payments, s24s4522
The deficit this fiscal year Is s24,-
85s,st3, against deficit of $20s64,379
last year. exclusive of Panama canal
ana public debt transactions
fn&toncnna Nil AZ nI.S