Evening star., 1917-04-13
LESS SELLING PRESSURE
ON LOCAL SECURITIES
Capital Traction Shares Show a
Firmer Tone on Light Sales
at So
Bonds OF the Same Corporation Were
Lower at 10i - Washington
Gas Was Weak.
BY I. A. FLEMING.

Business on toGay'S session Oh Ihe
Washington Stock Exchange was ma
tcrialIy lighter than on previous days
OF the week. with holders of securities
presenting little frnler front and
not quite as anxious to grant conces-
sious.
Very few sales were made until
after the CALI Riggs Realty IS, long
term maturity. selling at 102, and a
few shares of Commercial National
Bank stock at 1875.
on the call the bid for Capital Trac-
tion 5s remained at 104i4, unified
After call $500 face value sold at 1oi,
making new low for this issue.
Railway Is were low. at 70, on mod
crate trading.
Capital Traction shares were dis
iinctly firmer on very limited sales, so
being the price paid. The very low
figures have brought in some invest
uent buying. although the movement
has not reached important proportions.
but the checking of the declining trend
is encoura ging-
Washington Gas was weak. and odd
lots sold at 80 to l2i2.
May Get Together.
Attention was called yesterday to the
action of the executive committee of
the trust company section of the Amer
lean Bankers Association in taking
initial steps to secure the transfer OF
gold from trust companies all over the
country to the federal reserve board
control
Another step taken yesterday still
further indicates the trend of unity of
interest, when a number of the leading
presidents of big state banks in New
York city conferred with officials OF
the reserve system regarding the op-
Fortune time for leaving the state and
Joining the national monetary system
the time now being considered as the
most appropriate for the real work OF
bringing all important banking lnst-
tutionS into line
II is expected that the United states
Supreme Court will. within d compara-
lively short time. hand down decision
in important cases that VIII settle. once
and for ali the much mooted question
as to whether the federal reserve board
has the right to extend to member
banks the privilege of acting as reg
lister of stocks and trustee under Wills,
etc. etc, in a word, to exercise trust
company functions. .
would probably go long way toward
inducing trust companies to enter the
federal system. while the reverse rul-
ing would naturally have reverse
effect.
Southern Railway Earnings.
Gross earnings of the Southern Rail-
way Company for the first week of
April totaled s2143,S51. as compared
with s1,s13,160 for the corresponding
week of last year, an increase of $780,
6s1. or 1906 per cent: from July l to
April Z, inclusive. gross earnings were
s79276974 or SS,961,409 greater than
for the last fiscal year between the
same dates, an increase OF 1214 per
cent.
Canadian Pacific Director.
Directors OF the Canadian Pacific Rail-
way Company have elected Senator Fred
erick L. Beique to fill the vacancy on
the board caused by the death of Rob
ert Mackay.
Condition of the Treasury.
Condition of the United states Treas
ury at close yesterday showed:
Net balance in general fund. $751;
124,7S7.
Total receipts, s3.41s.046.
Total payments, S4,062.627
The deficit this fiscal year is s17s,-
6l,576, against a deficit of S57,272, s73
last year, exclusive of Panama canal
and public debt transactions.