Evening star., 1918-05-19
bonds formerly secured. The IS are
now selling at 99h.
Splendid Bond Market.

0pkSuOxu 0VA0 V4d1ASts
Judged by the daily action on the
local Stock Exchange the investment
situation in Washington is as near a
standstill as possible.
Judged by the volume of business
the big bond houses are doing inves-
tors are placing their money with
reasonable freedom. but they are de-
cidedly choice in the matter Of their
selections.
High-grade short-term notes like
those of the American Telephone and
Telegraph Company. Swift & Co.
Armour Co.. Proctor & Gamble and
other institutions of like character
are much sought after and readily
salable at high prices.
In the lost few years millions have
been paid out in Washington in in
terest and dividend account on local
securities. and but a small fraction
Of this money has been reinvested in
local securities. but 1t is being placed
as suggested. in readily salable in
vestments.
BILE one to f1ve-year maturity notes
was phenomenal but since fiotation
these issues from to 5 points and
are today very strong.
Eugene Allies on Bond Market.
Eugene Allies, manager Of the Wash
ington branch of the National City
Company. commenting on the good
bond market of today said:
when the war broke out there
were 100000 bond buyers and bond
holders in the United States, Today
the United States. and every one of
the 100000 has been educated in
the mystery of the coupon, or will
be before very long. They have seen
coupons, they have or will soon cash
them. they know what bond is and
a great lesson in saving, in thrift.
has been assimilated, that promises
to grow and grow as the years go by,
until 1t is within the probabilities
that the United States may be brought
thrift and savings.
And you may credit 1t all to the
education that has come with wars
demands, and the subsequent fota-
tion Of three liberty loans in the
United States. and each subsequent
deeper the lesson Of thrift and use
and purpose of the bond-secured In
vestment.
TN addition to the new crop of
buyers we have found since the close
of the third liberty loan campaign,
during which we sold no bonds, that
there Is still largo amounts of money
seeking good bonds in Washington
and we are filing the orders as far
as possible"
Gold 1ndustry-Gold Standard.
This is the title of a pamphlet just
issued by Hennen Jennings. consult
ing engineer OF the bureau of mines.
Especial attention is called to the
statement that at "the beginning of
cent of the total debts of the principal
beliggerants. and now 1t is but per
cent" Commenting on this the author
says:
"When prices of labor and COM
modities are SO advanced that it is
not possible for the various gold
mines of the world to work at any
profit, then labor and supply prices
must become lower. or gold becomes
automatically demonetized."
Clearings Increased.
Constantly increasing clearings tell
their own story OF the volume of
business Of the country an dthe very
high prices prevailing. Washington
Is sharing in the growth for times
were never better from the standpoint
Of earnings and profits, and only
scarcity of labor interferes with con-
tinued activity.
While this is hardly the place for
this statement, it is nevertheless
fact that the domestic science prob
lem is today bothering Washington
people almost as badly as the high
cost Of living.
Important Official Drafted.
The District National Bank has lost
untary enlistment and quite a num-
ber through the temptation of higher
salaries. but for all that the affairs of
the bank have been kept up to the
minute.
But Friday morning a more serious
pha nf fha didicillt and frnli hl hleaarn a