Evening star., 1917-03-23
STRONGER UNDERTONE
IN TRACTION SHARES
Railway Preferred Sold at S1l4.
American Graphophone Rights
Weak and Much Lower.
Bonds Steady on the Sales Made.
c. j. Bell Becomes Director OF Nor
folk & Washington Steamboat Co.
BY T. A. FLEMING.

While the volume of business trans
acted on today's session of the Wash
ington Stock Exchange was light, the
preferred shares of the washington
Railway and Electric Company and
Capital Traction stock gave larry
strong exhibition. with actual sales OF
the former at S1A. considerable I'M
| provement; while Capital Traction was
stiffy held at S3l4. with bid prices
point under the asking.
| Probably the feature of the session
was the weakness in American GRAPHIC
| phone rights" which have shown a DIS
| poSitjon to seek a lower level with
| each day since they We're listed They
sold around Is, then down to l. Z. then
were offered yesterday at 1ll2 and TINS
| afternoon set a new low at i2 TO y
| and back to 7l2 again. Evidently the
! general public is not as anxious to pur-
| chase the common stock about to be
| issued by the company as it was few
| days ago.
! The report as published in this col
| umn is said by security specialists to
| have been good one, with the added
| approval of the big depreciation
| charges. But the fact remains that
| rights are weak and the stock is also.
Capital Traction 5s sold at 104 II and
| Potomac first mortgage IS at 104i4.
The bid on Mergentha1er was ISL L
and the asking price 163a4. According
to authenticated reports the corpora
ton has made steady gains to date dur
ing the current fiscal year.
Promoting New Steamship Line.
The formation, in the near future. of
new steamship corporation by interests
now connected with the Potomac and
Chesapeake Steamship Company, is re-
porter as a probability.
The proposed capital is placed at So
900, 900, and it is claimed that {. w.
Morse, millionaire marine man of New
York city, has become associated with
Paul Dulaney is reported as leaving yes
terday to file articles Of incorporation in
Richmond.
Three steamers have been purchased
to operate between New York. Wash
ington and Norfolk. The corporation
will be called the New York and Norfolk
Steamship Company. Headquarters. it is
understood, will be located in Wash
ington.
to interest Mr.. Morse in Potomac river
nayiga ton by the same interests now said
to be connected with the shipping cor
poration. Local financial men back of
the new project are said to include COIN
H. Livingstone. w. H. Eckart and Edward
B. Mclean, with others now interested in
the Potomac and Chesapeake company.
C. J. Bell Elected Director.
At meeting of the directors of the
| Norfolk and Washington Steamboat
Company, held yesterday, Charles j.
| Bell was elected a director. filling the
vacancy caused by the death of John
Boyd.
Gold in Reserve Banks.
reserve banks totaled s334.47S,ooo. and
| in the hands of federal reserve agents
| s179. 9.27e,0 900.
March 16, 1917. gold in federal reserve
| banks totaled 1863, ,31S.000, and in the
| hands of federal reserve agents, $685.
| Sos 900 a grand total of SS97.91S,0U0.
| Gov Harding of the board says that
| the reserve banks now have a note is
suing capacity, based on their gold hold
| ings, of $1,000. 600