The Washington herald., 1917-02-16
IMPROVEMENT NOTED
ON LOCAL EXCHANGE
Trading in Both Stocks and Bonds
Takes Boost.

Trading improved at yesterdays ses-
sion OF the Washington Stock Exchange.
both in stocks and bonds Railway As
sold at 50 5-s. Chesapeake and Potomac
Telephone IS at 1o4. Potomac Consolidated
6s at 100 1-2, Graphophone IS at 102 and
lO2 IA, and Norfolk and Washington
Steamboat IS at los. Ninety-five shares
OF Capital Traction stock changed hands
at S1-2 to 50 IA, a fractional decline.
Railway preferred was transferred at
81 "a to 50 5-s. Ten shares of Washing
ton Gas changed hands at 81, strong
price. Lanston sold at 70.
DR.. r l. Quigley has been elected a
member OF the board of directors of the
Home Building Association to succeed
the late Anson S. Taylor. W. T. Gal
inner has been chosen first vice president
ana j. Paul Smith second vice president
Some mon rs ago one of the leading
steel authorities in this country expressed
the opinion that the crest of earnings in
the trade would be witnessed in the clos
ing quarter of 1916. This same authority
now thinks that the crest has not yet
been reached. He says:
II Is possible that we will see the high
water mark of steel earnings this quar-
ter but / am not at all sure on this
point. The trade is running full swing,
and there are no indications at all of
weakness. What price movements there
are upward"
The following analysis of the New
York market situation was received YES
terday afternoon by W. B. Hibbs & Co.
from New York correspondent:
There was a renewal of apprehension
In the late afternoon over the foreign
situation from the newspaper accounts
alleging that President Wilson was
likely to appear before Congress again
shortly for its authority to protect
American shipping and other interests
from the activity of Austrian submarines
ip the Mediterranean and the German
governments request for our Ambassa-
dor, Mr.. Whitlock, to retire from
Belgium territory now controlled entirely
by the Prussians.
Where the market had been strong
in spots during the forenoon, particularly
as regards the market position of Centra,
Leather. A. B. S., c. N. s., Crucible Steel,
U. s. Steel and some of the copper
stocks, those issues nearly all reacted
with the gradual slump of l to / Is
points that occurred in most of the list
during the afternoon.
Although there was not great selling
pressure, as witnessed by the total trans
actions Of only 205,0oo shares in the gen.
eral list UP to o'clock, 1t must be said
that the buying support was neither good
nor large enough to check the spread
OF renewed scattered liquidation which
the above disconcerting reports seemed
to influence. Little attention was PAID
to the receipt of 100000 additional in
gold here from Canada to the SIS, ooo, ,ooe
which arrived late Tuesday afternoon
for the account of the British govern
r,apt Mopev Wan easv for both call and
time loans but pending further develop
ments in the foreign situation, the in
ve.tment demand for bonds as well as
stocks at present is slow. In view of
these conditions there is little incentive
for any concerted bull movement in the
market, but rather more reason for
operators to refrain from increasing
speculative commitments for the pres
ent"