Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-12-18
VERY LITTLE DEMAND
FOR LOCAL SECURITIES
BY I. A. FLEMING.

Today's session of the Washington
Stock Exchange was productive of very
little business. The making of quotations
was of the usual perfunctory character
and resulted in transactions in but three
stocks and one bond issue.
II there were other orders they were
either below or above the prevailing
market values. depending on whether
they were made for purchases or sales.
The few transactions made were on the
levels of last weeks closing. while the en-
tire action suggested the beginning of the
holiday d',ll period
Capital Traction sold at So, Washing
ton. Railway and Electric preferred at
S1I and Mergenthaler at 16S. the ag-
gregate transactions being unimpor-
tant
a little Mergenthaler brought 16S.
Potomac Consolidated IS Were steady
at 1o1 Il.
Dividends Declared.
Dividends of IL per cent quarterly
and l per cent semi-annually were de-
clared by the District National Bank
and the Bank of Commerce and Saw
ings. respectively. Both are payable
January l, the books closing December
% and December 90, respectively
Director Elected.
NJ. o. Leighton has been elected u di-
rector of the McLachIen Banking Cor
poration, to fill the unexpired term OF
James L. Hood, resigned.
Gov. Harding made it clear in an adj
dress in Boston that the warning of the
federal reserve board had been given
a meaning neither justified nor intended
that it was not the purpose of the
warning to make an attack, either open
or covert, upon the credit of any gov
eminent, nor did it seek in it's state
ment to reflect upon any particular OBJ
legations"
Mr.. Harding declared that since the
war began we have paid all our indebt-
edneSS to Europe, estimated at $780,
100000; had made foreign loans of So
600. 600 200. and 0u-rha seti 50 500 coo coo Of
American securities from foreign own
ership a total of 81 0on 900 900 of financial
support TO this country.
Mr.. Harding also expressed his be-
lief that before long there would be an
Offering of long-term obligations in
this country from abroad, to which
there would be objection from the fed
eral reserve board.
Lackawanna Steel Company.
The fiscal year of the I.acka-anna
Steel C"n-ary ends with this month
the year will be Il little more than 500
a share on the s34.TJJ.5oo common
stock. Profits on steel fabricated by
the company ill be soIne What short
of S12 ton.
1t is believed i, financial circles that
the return on the CO. mo- stock for the
next year will be at least SO a snare.
A Billion of Gold.
Since the outbreak of the war gold
to the amount of 81 .0s5 2o6 900 has be-
imported. covering the Pc iod from Au-
gust, 1914, to December II. 1915
In that time we have e ported $780,
600. 900. leaving net gold imports of
ss1s. zoo. o00-unprecedented. of course.
United States for the same period is
given as 81. 739. 10000
In the period of the war the exports
of firearms ard explosives totaled
Ss24.2s6, Coz. Indicating that very large
part of the pros Gritty prevalent in the
United States was the direct result of
the war.
Record Prices for Tobacco.
LYNCHBURG. Va, December 1s.-To-
bacco here during the last week sold
at unheard-of prices, all grades being
actively sought after Wrappers showed
a much stronger tendency, going as
high as $50 hundred pounds. The
sales during the week aggregated s21,-
400 pounds, bringing the aggregate
since the season opened up to 6,363,soe
pounds. The quotations, based on
actual sales. are: Lugs. 1878 TO sfo1o;
short leaf. $40 to SIS: long leaf. s115o
.,