The Washington herald., 1917-05-23
In the World of Finance and Trade
SECURITIES DEALINGS
ON LOCAL EXCHANGE
Items of Interest to Financial Circle
in the National Capital.

Bonds assumed a slightly frmer tone
At yesterdays session Of the Washington
Stock Exchange. Washington Gas IS
sold at lo2 l-2, a gain of half point. The
DID on American Graphophone SIS advanc-
ed to 100 IL, a rise of a quarter of q
point Capital Traction IS changed hands
at Oz S-4 Washington Gas stock sold at
t727-S to 72 Lanston changed hands at
4 70 81, Capital Traction stock at Is Ia
and an odd lot OF Mergenthaler at 14S.
| II. s. Reside, president of the washing
ton Gas Company. has been elected a d.
rector OF the Georgetown Gas Company
IN accordance with plans for the merger
OF the two corporations.
James A. Cahill, vice president of the
Commercial National Bank left the city
yesterday for Atlantic city to attend the
convention Of the Maryland State banlz-
ers.
Milton z. Allies has been designated by
John Poole, president Of the District
6ankers Association, to attend a con-
vention Of investment bankers and m
Vestors IN railroad securities to be held
today In Baltimore to advocate an in
! crease in freight rates
The first Of a series of daily meetings
| -NS--- NAAC AAbGIly loan WAS nel0 yes
terday afternoon by the local liberty
bond committee composed of John Poole,
representing the national banks: Cor
coran Thom, representing the trust COM
panies; b. F. Saul, savings banks, and
eugene F. Thompson and Eugene Ailes,
| bond issues.
| Charles c. Iamborn has basr eIscto6
treasurer of the National Savings ana
trust Company to fill the vacancy caused
Oy the resignation Of George Howard
Mr.. Lamborn has been with the firm for
nearly twenty years. C. P Wilson.
another longtime employe of the bank,
mas been chosen assistant treasurer.
The Potomac Electric Power Company
yesterday announced the Offering of
S5O'OO Potomac Electric Power Company
per cent bonds, part Of the recently au-
| thorized issue of N,127, 900 approved by
the Public Utilities Commission Sub
scripdons will be open until May 81 at
noon. The bonds are redeemable any
interest date at 1Oe I-3 and will be sold
to the highest bidders.
The following analysis of the New York
market situation was received yesterday
afternoon by W. B. Hibbs & Co from
Logan & Bryan, their New York eorre-
spondent:
The market during the greater part
Of the session had to contend with a
considerable amount Of realizing by old
longs, but the impressive manner in
which offerings were eagerly absorbed
| created a feeling OF security and in the
| final hour bullish enthusiasm was in full
swing with the steel shares leading the
procession. The public apparently, is
becoming reconciIed to the more favor
able aspect Of things IN general and the
| dark shadows of the past which were
more theoretical than in reason, arc being
superseded by a display Of confidence in
ultimate good results, domestic and inter
national.
The enormous earning power Of the
steel companies, so many times dflated
upon, is receiving Just recognition, and
the already established big equities, with
promise of still greater financial gains to
come, should be reflected in a much high
er range Of quotations in the steel shares.
The equipment and copper companies are
unquestionably in line for still greater
net revenues and a broadening in the de-
mand for the shares Of these concerns
can be looked for IN the not distant
| future"