Evening star., 1920-03-19
|B|G ADVANCE MADE
| IN FOREIGN MONEY
Bar Gold in London at Low
est Price for Year-LocaI
Financial.
BY 1. A. FLEMING.

Forelgn eXchange made conSidera-
BILE improvement today and seemed
to indicate plainly that the condi-
tions in Germany were more to the
satisfaction Of the allied govern
ments. German marks for imme-
diate delivery in the American mar
ket were offered at S0.0115, while de-
layed deliveries were a little easier
than the quoted price; Bank of Eng
land notes were offered at $50 on the
pound French francs at 9A cents aud
Belgian francs at cents.
The highest price of bar gold, es-
tablished in February in LOncon. was
few pence above 108 shillings an
ounce. the top being coincident with
the low of S3.1S for the pound ster-
ling.
Demand sterling bills were quoted
at s3.S1 to the pound, francs at
S0.0741, marks at so.014 and lire at
$O.O54.
! Foreign bonds also showed an inn
provement.
The relatively higher prices for
currency as compared with demand
bills was taken to indicate a belief
in the continued strength of ex-
change.
The prices for demand exchange
were much stronger going into the
last hour of the banking day than at
the opening.
Local Securities.
There was comparatively little busi-
ness transacted on todays session of
the local stock exchange, but values
were generally firmer in securities in
which sales were reported.
The typesetters were strong. with
sales at S2l. for Lanston and 1913 for
!Mergentbaler.
Capital Traction sold at s6l. and
Washington Gas IS at s71s to SIN.
Washington Gas stock was entirely
nominal. but yesterdays sale price
was repeated, As, with holders ask
ing Al
Report OF Wilson Company.
The annual report of the Wilson
Company. packers. for the year 1918
was released for publication today.
The profits from operation and in
vestments for the year ended Decem-
ber 81. 1919. after deducting interest
on current Indebtedness and making
provisions for depreciation charges
and federal taxes, totaled s5.1S5. .sSs.
with S2,3S4,562 paid for interest on
bonded debt: leaving $2,771,325 avail
able for the required common and
preferred dividends. with but 1,483,-
2S3 required for this purpose.
The surplus account increased from
021.264
Bills payable decreased by s5.oDo, 600
and the net quick assets showed $24O
for each dollar of liability.
Steel Foandrfes Stock Dividend.
Directors of the American Steel
Foundries announce a plan to issue q
stock dividend of 81 share, with
their regular meeting in May. Share.
holders yesterday approved a propo.
515,520 shares to $4,000 shares. It Is
proposed to issue the new stock il
com paratively small amounts from
time to time.
The president Of the company said
4 1T is the intention of the board t.
declare a 81 share stock dividend
Il at its next meeting. Three plants o.
the company that have been idle ar,
4 being placed in commission, and bust
| ness is improving very rapidly"
\ The Shortage Of Gas OIL.
\ Apropos Of the market for oil TO
gas making purposes. which 10 fore
4 Ing the return to manufacturing Goa
4 gas. the American Gas Association ha;
\ this to say:
I The increasing shortage Of oil use,
IN the manufacture of artificial "a,
and the inability OF gas companies fl
n the United States to secure satiefao
tory assurances OF a steady supply
II have created a serious condition, &C
cording to the American Gas Associa
N tfon. The cooperation OF the variou
II state ut1lfty commissions ~ well q
n the bureau Of mines and the Unite,
Il States geological survey has been re
II Quested with a view of soliciting thei
4 aid in alleviating the threatene,
II shortage.
II 'Tt is said that the continually in
II creasing demand for gasoline and th
II refined products of crude oil and tn,
II great extent to which fuel oil ha
II come to be used in place of coal 70
4 steamships. have much to do with tn,
Il present shortage of the so-called ga
n oil.
The seriousness of any possible in
H terruption in the supply of artificia
II gas to the public, where it is SO gen.
\ orally used for cooking. heating and
II lighting purposes says the associ.
alton. "is causing concern on the par,
of those responsible for the mainte.
nance of the gas supply, and prompt
measures are hoped for to alleviate
the condition. which now threatens to
work serious hardship upon the
gas-consuming public.
Gas companies already are exer-
cising the greatest economy in their
use of gas oil. Its consumption has
been reduced as far as possible with
out lowering the standards of sarvice
under which they are required to op-
crate. A partial solution lies in the
adoption of a reasonable heating
value standard and the abolition of
the wasteful and antiquated candle
power standards still enforced in
seyeral of the larger cftiea"