Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-12-21
AND RULINGS
SHOW WIDE VARIANCE
By I. A. FLEMING.


A very Important stock market in
nuence yesterday proved not to be an
exact statement of fact. The bankers,
brokers and individuals interested in
securities were informed in the gossip
and in one or two New York morning
papers that ruling made by Commits
sioner Roper and approved by Secre-
tary .McAdoo, while not issued in print
ed form. would permit of deduction of
losses on securities during the year
1917. whether stocks had actually been
sold or not, and that bankers. brokers
and investors generally shared in the
privilege.
The ruling came out late yesterday
afternoon and was found to grant this
privilege to dealers" only and not to
the public This will be keen disap-
pointnisnt to the public
Dealers this morning expressed the
belief that this ruling would allow them
to make deductions for losses on sold
and unsold securities, irrespective Of
that no greater deductions can be made
than the amount of profits shown.
Washington Chapter Activities.
Rudolph H. Yeatman, local attor-
ney, addressed the members of the
Washington Chapter last evening on
''Negotiatiab1e Instruments"
All classes have been adjourned over
the holidays, the next meeting being
scheduled for January 2, when the class
in accounting will start the activities
of 1918.
Capital Traction Circular
In sending out the checks for the
extra dividend on Capital Traction
shares. George E. Hamilton, president
of the corporation. inclosed a letter to
the shareholders. in which he said:
This action on the part of the board
is made possible by the increase in
receipts during the year from time to
time brought to your attention. and
whereby the company. notwithstanding
the higher costs of operation. due to
the abnormal prices and conditions now
existing, has been enabled. by ma
teria1ly Increasing this years appro-
priation, to adequately provide for de-
precfationi to give well merited IN
creases in wages to it's employees; to
declare this extra dividend to its stock
holders and at the same time to main
tain it's standard of good service to
the public.
During the present abnormal con-
ditions the policy of the company will
be to continue the regular dividend at
per cent per annum."
Large Bank Resources.
Resources of national banks have
reached a record. With s1o.505, 00o. 900
in the reserve and central reserve
cities November 20 last. this aggregate
il 81, 40s. o0o, 900 in excess of the great
est resources ever previously shown,
which was the returns of last May.
They were 1885. 1000 greater than
the total resources of November IL,
year ago.
Washington is shown to have an in
crease of S13,000,0 900 in deposits since
September IL last.
This unusual condition was shown in
compiled bank reports made public last
night by the controller of the currency.
Total deposits of national banks in re-
serve and central reserve cities were
$s593 900 600, an increase of 81 .000.-
900 oyer the preyi sss oe eai noo OF septem
yember II, 1916. Country bank reports
have been compiled completely in only
six states. and all but one OF these
states show materially increased de-
posts. including Louisiana. with Vs.
900, 900 more, and North Carolina, with
"a 81, DOC, 900 increase.
= Loans and discounts in reserve and
central reserve cities were $5.356,000.
900. 81 per cent of total resources. an
increase of 1855 000. 600 over November
II, 1916. when the ratio of loans and
discounts to resources was 81 per cent,
and 1855, 000, 900 more than september
III. The Increases in loans and deposits
,were due largely to second liberty loan
transactions
On the Stock Exchange.
Z On today's session of the local stock
exchange trading was limited to TWEEN
ty-1ive shares OF Railway common at
IS. one $500 bond of the Potomac Elec-
trio Company, a per cent. at 100. and
81 900 Potomac Electric consolidated S.
at -.
The bid price for Mergenthaler shares
was reduced to log and the asking to