The Washington herald., 1917-01-07
In the World of Finance and Trade
BONDS ARE FAVORITE
ON LOCAL EXCHANGE
$4,000 Face Value Change Hands at
Closing Session of Week.

Bonds OF the face value of $4,000
! changed hands at yesterdays session of
the Washington Stock Exchange.
Capital Traction IS were active, selling
+, at 1G. Washington Gas IS sold at 1o7,
and American Graphophone IS changed
hands at 101 rs. Washington Railway
Is were firm. being transferred at 50 1-2.
lMergenthaler stock changed hands at
l67 "a to 167 1-2, a slight recession. An
odd lot OF National Metropolitan Bank
stock sold at 2o4.
Stock sales during the week totaled
412 shares. Bond sales for the same
period totaled $500. face value.
The Washington Loan and Trust Com
pany has declared its regular per
cent quarterly dividend and the usual
per cent extra dividend. payable Feb
ruary l.
Estimated gross earnings Of the
Southern Railway Company for the
fourth week in December were s., S5, so1
as compared with s2,o30.s1 an increase
OF s2o4s9o or 1909 per cent. Earnings for
the entire month of December were S6.-
sss 466, as compared with S,2S7,ll5 for the
corresponding period last year, an IN
crease of ss7s,3s1, or 1880 per cent.
Estimated gross earnings for the period
from July to December were SSs so7,loS,
as compared with s34s973,ss4 for the cor
responding period last year, an increase
of "a, SS3,21s or 1s.2 per cent.
| The following analysis Of the New YORK
market situation was received yesterday
! by W. B. Hibbs & Co. from one OF its
New York correspondents
THE market was very irregular and
unsettled today with the trading mostly
Of a local and professional character and
confined chiefly to evening up of specula-
tive commitments over Sunday, in view
of the continued great uncertainty in the
general foreign situation.
Covering OF shorts slightly predom-
mated in the Industrial stocks. notably In
| U. S. s., C. l.. A. B. s., A. R., 1. d. and
few other specialties.
1.-The market had been somewhat over
sold BY the broker element in pressing
sales in the Industrial list during the
weak periods OF the last few days. This
covering movement in the readJustment
Of such accounts. together with mod
crate amount Of fresh bullish activity In
some Of the specialties, made up the bulk
of the days trading.
1T is expected the reply OF the entente
powers to the recent peace note OF Presi-
dent Wilson will be published in Sun
days news, together with some state
ment as to the terms for peace they
might consider. II It does not come 1t
will no doubt be ready by early next
week. In the meantime there is the on
cial statement from the administration
at Washington that no second note will
be sent to the entente powers for the
present
Until thi. question OF peace negotia-
tions is definitely settled one way or the
other nothing better than a continuance
of the recent irregular trading market of
backing and filling character can be
reasonably expected, as the course of
prices and general sentiment depends u
large extent on the prospects for early
peace or a prolongation OF the war. With
so much uncertainty on this question Il
seems inadvisable to increase Fspecula-
tive commitments to any extent until tho
situation as to the future becomes clearer.