Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-01-03
BONDS were WANTED,
W|1HPRk;ES HIGHER
No Trading in the Uhhties-Fire'
mons Insurance Company
Elects Directors.


BY I. A FLEMING.
The investment demand stil1 enters
almost entirely in the bond section, to-
days transactions on the Washington
Stock Exchange covering total OF
S1S,6Oo face value. It was one OF the
best days in the market for some time
Prices on the issues figuring In the
days business were generally strong.
Capital Traction Sc. which furnished
the bulk Of the business. advanced to
1O7, where $500 were purchased
washington Gas Be also improved, sell
ing TO 1e7. American Graphophone IS
we're ND n point, selling at 1o1%. as
compared with 101A yesterday. NOR
folk and Washington Steamboat Ss,
firm at 1osN.
In the stock list the utilities were
Absolutely neglected, with ssh DIG eno Q
ssh asked for Capital Traction: 10 ens
going bid for Railway common, none
effered, ana the preferred shares Of the
same company, quoted at u - oio anu
So asked, while Washington Gas was
quoted at 70 bid and Il asked.
TAN. Arlington Fire insurance. In
i;cmiaation- sold at 8h, the former
nHotstion. and an odd lot Of Real Es-
tate Title brought 1S-
Not Likely to Be Exceeded.
According to reports made at the va
rious fiscal institutions. 1t Is more than
probable that yesterday was record Day
in The matter Of deposits mads and busa-
ness transacted in the banks of WASH
inston.
January payments are usually the
heaviest Of the year. New York reporteo
dividend payments Of $3.50, ooo. 900. Wash,
ineton showed over . ntflion from listed
corporations and probably $z50,eee from
Tn. The cssh was checked out In December
30 mail and the checks redeposatsd yssser-
day Today's clearings were $2,ZSz,e0o'
one of the big days In the clearing mouse.
being nearly million dolars IN eAcese
of the average clearings.
Changes In Deposits.
The Riggs National Bank reports a
loss Of ,s77,o in deposits between No
vember II and December 81. the dates
of the two latest calls by the controller
Of the currency.
The Lincoln National reports gain
of S142.1ss. and Columbia National .
Most Of the banks were too busy yes
terday to give time to preparing figures
for the call.
Acquires N. o. & N. Railroad.
President Harrison of the Southern
Railway Company. confirming the pur-
chase Of the New Orleans and North
eastern Railway Company. said:
The Southern Railway Company &C.
quirsd in 1905 = minority holding OF
the shares Of this English company.
BY q Transaction made possible
through the wish Of the directors and
other security holders Of this English
company to assist the British govern
ment in securing American exchange.
soiidated It's investment 81 the acquisi-
ton in direct ownership Of the con-
trolling stock Of the New Orleans and
Northeastern heretofore held by the
English company, and at the same time
has parted With an interest. direct or
indirect. in the Alabama and vicksburg,
and Vickshurg, Shreveport and Pacific
BY sale Of It's holdings Of the shares
OF the functions Company which are
an consequences the New Orleans and
Northeastern will hereafter be operated
a. a part Of the Southern railway sys-
a direct entrance into New Orleans. as
we'll as physical connection with the
extensive terminals OF New Orleans
Terminal Company Of which the South
ern has been for some time the sole
owner"
Business Announcement.
John L Edwards & Co.. investment
bankers and members Of the New York
and Washington Stock Exchanges. an
Madeira with the firm as q special part
ner.
Mr.. Madeira was formerly with the
Union Trust Company.
A Splendid Growth.
Four years ago the Farmers and Me-
organised. with deposits OF $50 .207. The
close Of last year found the bank pros
porous and with deposits Of s150.2o2.
The surplus and undivided profits In
dictate $13,231 accumulated In addition
to paying dividends of per cent. Fran
els s. carmody 10 the president Of the
institution.
Reserve Bank Agency in London.
The National City Bank circular for
January has this to say of the estab-
lshment Of Q federal reserve agency
in London. q subject that has not been
discussed at all freely:
The action Of the federal reserve
board in approving the appointment
of the Bank Of England as agent in
London for the Federal Reserve Bank
Of New York does not. upon its face.
have any special Significance at this
time. The federal reserve act contem-
plates that such arrangements will be
made in all important countries for the
handling of exchange transactions and
with a view to controlling or modify
ing the movements Of gold In ordinary
times. 1t has been common practice for
the central banks of issue to have q
portfolio of foreign bills for this pur-
pose The present times. however, are
extraordinary. and the gold movements
are upon = scale beyond any ordinary
measures of control.
The Newspaper reports from Washing