The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1917-01-02
EVERY SEAT FILLED FOR
OPENING OF NEW QUARTERS
largest Attendance in Years at
Exchange BuiIding-Many
Former Members Return to
Exchange Greetings - Ed
ward 3. Mclean Elected to
Membership by Board-Bet-
ter Demand for Stocks and
Bonws Than for Some Time.

The largest attendance Of brokers in
recent years assembled at the New
Stock Exchange building on Fifteen
street today, for the opening Of the
Washington Stock Exchange in its new
quarters. Every seat was filled, and a
number of former members and old
timers. whose faces have not been seen
at the exchange for years, dropped in
to view the new quarters and to ex-
change greetings with the members. o
Among the members who have been
comparative strangers in recent months.
and who dropped in today. were E. s.
Parker. E. J. Stellwagen, George How
ard, P. ]. WhitweIl, A X. Paris and
William Father. C. c. Glover, a form
er member, also dropped In and ex-
changed greetings with his former as
sociates and friends.
Mclean Elected to Membership.
Edward NJ. Mclean, whose applica-
ton to purchase the seat of George
Howard was posted several weeks
ago, was elected to membership at a
meeting of the governing board i'm
mediately following today's session.
There was considerable improve
ment in business transacted today,
there being better demand for both
stocks and bonds than has prevailed
for some time. Mergenthaler Limo
type was the strong feature in the
stock list, sales aggregating thirty
seven shades being recorded at 1854
40 ~ - n
bid and was held at 100. Odd lots of
Capital Traction stock, aggregating
twenty-six shares, brought S31k, while
the bid for quotation lots OF the stock
was advanced from S2% to S3H,
with the Offering S3%. other stock
sales included two Railway preferred
at sly, and sixteen Washington
Loan and Trust at 1924.
Bond sales included $4,000 Railway
As at SIX and a $500 bond of the
same company at s2A. Two Potomac
Consolidated SIS brought 101% and
101 y, and a Potomac LIST sold for 1O5.
A total of $1,000 worth of American
Graphophone LIST 6's sold at 101k, a
5000 Norfolk and Washington Steam
boat brought 1854, and a $500
Washington Gas brought 107, with
this same figure bid for the full bonds.
A 500 Georgetown Gas certificate
sold for 1851.
Declare Extra Dividend.
In addition to the regular dividend
of 81 a share, directors of the Pitts
burgh Steel Company have declared
an extra dividend of $50 a share, pay
able today.
The Pennsylvania Railroad Com
pany reports a gross increase for all
lines for the month OF November of
$2,o30,279. Despite this large gain in
gross, net earnings for the month
show a decrease of $1,379,5s0. For
the eleven-month period ended No
vember 30 all lines of the PennsyI-
vania show a net increase of s27, 1874
416.
Chesapeake and Ohio reports a gross
increase for November of 1924 $50.
Atlantic Coast Line increased its
gross earnings during November by
S457, 1851. For the five-month period
ended November 80 an increase of
$2,375, 901 is shown in the gross.
Northern Pacific reports a gross in
crease for November of S352,OS1. Net,
after tax, leaves a decrease of 1902, :
16S. The five-month period ended No
vember 80 shows a net increase of
81 ,220,51s.
Sees Renewed Impetus.
Referring to conditions that may
exist after the war. the January cir
cular OF the National City Bank of
New York says.
G.Tha ard ~ fba ruar a.. - -. l.
sight, but when II comes there I'M
doubtedly will be a letting down of
the abnormal foreign demand for our
products, and a lowering OF prices
and profits: but, although this may
tend to check buying for a time, the
country is under tremendous momen-
tum and the war business is now a
small part of the total.
with a drop in prices to some
where near normal levels there should
be a renewed impetus to our indus
tries. Although our exports will fall
off and our imports increase. these
changes will come gradually The
first effect will be a shifting of the
demand from war goods to peace
goods.
There will be an enormous amount
OF work to be done in the world, in
Europe to restore q state of indus
trial order and in other countries to
make up for the time that has been
lost. There will be a great outlet for
our agricultural implements and for
machinery of various kinds to make
up the loss of man power. The ship
building industry will have a long
program ahead OF 1t. and its require
Ynapta will he an imDOrtanf factor IN
the steel market"
TODAYS SALES.