The Washington herald., 1917-06-19
MONEY MARKET FIRM
AFTER BOND SALE
Liberty Loan Causes No Advance
on Local Exchange.

There has been no advance In
Money because Of Investments in lib,
srty loan bonds. the demand on the
ing relatively light, with rates steady
at and s per cent.
According to trades made during
yesterdays session of the local Stock
Exchange, values for stocks and bonds
were reasonably nrm, although the de-
mand was without any noticeable inn
provement.
Railway preferred brought 50. Capt.
tai Traction shares sold ex-dividend
at 7S IL to q strong closing at 79. A
small lot OF Mergenthaler sold at 1H
issues showing on the sales sheet.
Railway IS at Is 3-S and Washington
Gas IS at 102.
The Columbia Title Insurance Com
pany has declared the regular semi
annual dividend of 3 per cent, payable
June %. The books will close June 20
The Real Estate Title Insurance Com
pany has declared the regular semi
annual dividend of per cent, payable
June 30 The books will close June 20.
The following analysis Of the New
York market situation were received
late yesterday afternoon by W. B,
Hibbs & Co. from Logan & Bryan,
their New York correspondents:
The speculative element showed
pronounced tndectsion in its efforts. to
express market sentiments after the
close on Saturday. Most important
interest was attached to the money
outlook because Of the fact that the
loaning rate on the general list ruled
at per cent indicating continued
tension IN banking accommodations.
1t vas insisted, however, that the
large excess of offerings Of call money
when the market closed on Friday,
when millions OF dollars were left over
in brokers hands, was evidence that
money market, and It was asserted
that, with another day Of maintenance
OF these rates, the market will become
as easy as at any time during the
year. Statements were made that
when loans were called on Friday no.
tice was given that steel common
must be argined down to 110, but to
customers in brokers' Offices there
does not seem to be anything unusual
about this requirement, because prac-
tically every speculative account in
the city carrying steel common has %
points or more margin In brokers'
hands.
Many important speculative inter-
ests had an idea that steel common
would not be prominent in upward
in the stock market for
some time to come, as other issues
presented greater possibilities in the
way of profits. The motor stocks have
been growing In favor for some time.
II was stated on Saturday that the
dema nds OF this nation and the allies
will require as many motor trucks as
were made In the United States last
year. and with this requirement to
fill it is held that the motor companies
must he facing a greater period of
prosperity than they have ever known
before in their existence. One state
ment was made that Willys Overland
Is negotiating for or has secured con-
tracts for motor machines for a great
number of aeroplanes on which work
is already in progress or contracted
for. In this respect attention was
called to Wright Martin aircraft,
" hich was said to have closed large
contracts witS France and the United
States. Friends OF the company said
that nobody should have any fear in
ouying the stock"