The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1917-01-30

Considerable improvement over the
duHness of yesterday was shown In
trading at today's session OF the
Washington stock Exchange. While
there was no heavy trading In my
one stock, q number Of issues we're
included in the record OF the days
business, with the total OF stocks and
bonds well up around the normal av-
erage for recent months.
Thirty shares OF Capital Traction
stock sold at san. and an odd lot Of 6
shares brought sax. MergenthAler
Lintoype stock sold on a scale down.
ward at 16s. 167k. and 18Th. 80
shares in all. and closed with 1871 bid
and 1854 the offering. A 5-shArs lot
Of Washington Gas gtock sold At u "a.
and an equal number OF shares Of
Federal, National Bank stock brought
100. Ten shares Of Continental Trust
Company stock sold at l25H and an
s-share lot AZ Railway preferred
brought s3h. The bid for Railway
common was maintained at 30 with
the offering firm at 81.
Bond sales were light. They in
cluded $4,000 Potomac Consolidated
IA
Potomac Telephone Company At ief.
n $500 bond. Of the same company At
s2E. -.
steps to be taken in the campaign
for the modification, OF the Intangible
property tax law, % a. TO exclude
bank deposits VIII be Considered at .
Joint meeting this Afternoon OF the
legislative committee Of the District
Bankers Association and the special
committee appointed by President
John Poole TO conduct the campaign
w. T. Galliher Is chairman OF the
special committee. Under the law.
bank. deposits, except savings -
counts Of $500 and less, are subject TO
q tax Of four-tenths Of L. per cent
This will work . real hardship on 10
cal banks, IL 10 declared, and will tend
to divert funds to banks In Baltimore
and other nearby points, in order to
avoid the tax.
. Holders Of United States Steel
shares are eagerly awaiting the re-
suit of the directors' meeting this
afternoon, when the regular quarterly
dividend and q liberal extra dividend
are expected to be announced.
All kinds of guesses as to what &C
tion will be taken are being made. II
was reported in Wall Street that there
would be tie regular dividend OF IL
per cent and 81 per cent extra. The
action of the stock yesterday and to-
day, however, would not seem to jus
tify this expectation.
Early in the quarter estimates Of
earnings ran a. high as t110. 900. 900.
but these estimates were based on the
belief that the railroads would be
able to handle all the steel consigned
to them As q result of congestion of
freight however, the steel corpora
ton was compelled to pile up q total
OF 100000 tons in the yards-
Estimates for the last quarter now
range between 3e5, 00O. 900 and $685.
100000. as compared with actual earn
inEs OF ISL 900. 900 in the third quar-
ter of last year.
It il estimated that when Bethle-
hem Steel has its capital readjusted
there will be tangible assets for the
new common OF between $40 and
Sl4s q share. This will be increased
by $40 q share during the current
year. IL present expectations are re-
allied.
The company has been making ex-
traordinary charges against its NUM-
lions plants. II 10 understood that at
the close OF 1915 the entire plant in
vestment Gin munitions works had
been written OF the books, with the
exception of one department.
Aggregate earning FOR all the large
railroads for November. just made
public. rhow q distinct drop In the
rate OF gain In gross earnings over
the previous ysar. together with the
nrst sctus; dec-eaEe IN net earnings.
after taxes. for nearly two wears. De-
cember rsD7rts. nov b beginning to ap-
pear, ind'c7te hat thrrs was fur
Their reeession IN TIE ra:s Of rross
gain during that r~orth and that the
increase in net will be more seriouE