The Washington herald., 1917-04-01
In the World of Finance and Trade
GRAPHOPHONE BONDS
Lead LOCAL EXCHANGE
Big Volume Changes Hands at l0034.
Rights" Weak.

American Graphophone IS attracted
chief interest at yesterdays session of
the Washington Stock Exchange. The
bonds sold to the extent of 5000 at
100 3-4. The rights were weak, selling in
small Quantities at 75-S Chapin-Sacks
, Company stock sold at 155 and 154. Twen-
ty-five shares of Washington Railway
and Electric preferred changed hands
at 81.
Gross earnings of the Southern Railway
Company for February totaled S., $685.
10H as compared with $5.72l, 1854 for
the same month of 1916 a gain of s276,-
3no3, or 4.s3 per cent.
The Comptroller of the Currency has
requested the 1000 national banks of the
country to furnish his office by wire at
the close of business each Saturday re-
ports of the chief items that go to make
up the business of the bank, with loss or
! gain as compared with statistics for the
preceding week.
The Ray Consolidated Copper Companv
has announced the following report for
! the year ended December 81: OperatinC
! revenue, s2O,2GO. 7S3: net, 81. $50 6s3: total
income OS4.165; net profit $l2OS4165
surplus N.31s,473; final surplus, s13,s13,17S
The final surplus in 1915 was s6, 4S4, ,7O6.
Sales OF steel making pig iron are heavy
in volume, carrying prices to new high
levels almost daily. according to advices
: from New York brokers' The trade is
prepared to see further advances of 81
TO - ton before long. Foundry iron
! also is steadily rising in all markets.
Sales OF all kinds of pig iron last week
were In excess of 200, 600 tons, making a
total for March of more than 500, 900 tons
The following analysis of the Neu yoru
market situation was received yesterday
afternoon by w. B. Hibbs & Co from a
New York correspondent:
"hlIe there was no great selling prcs-
sure on the stock market TODAY the tone
was irregular and unsettled with some
scattered liquidation predominating from
room traders and local commission
houses. There was not much outside sell
ing. At the same time, however there
was little disposition manifested TO take
'on fesh lines of stocks this morning
in lew Of the present unsettled condi.
tions.
The belief now prevails that our en-
trance into the war cannot be much
longer avoided. In fact it is hard to see
now the President can announce to the
extra session of Congress in his address
next week that other than a state of war
exists with Germany
Inc opinion is therefore held that
stocks can perhaps be purchased to better
advantage after the adverse sentimental
erect OF such an announcement is made
tnan at present as it is likely to influence
the reduction OF excess speculative hold
ings or professional traders and local ani
OUTSIDE operators as matter of precau-
ton against the aggregated risks Of the
near future.
Tnis Is the reason why prospective
buyers adopted the policy today Of wait
ing for some fresh breaks in the mark,
before buying. There was enough sun
port. however. from the bull interesrs In
the main specialties in which they have
been most active at times during the pas.
month 10 ABSORB what liquidation Of a
scattering character that daveJonad to-
day"