Evening star., 1921-09-06
CAPITAL TRACTION
BONDS IN DEMAND
S50,000> Par Value Sold al
81 1-2-CIearing House
ACtion-Notes.
BY l.. A. FLEMING.

Capital Traction 5 per cent bonds
Were decidedly active on the local
stock exchange. when large sales,
s5o.o0O aggregate face value changed
hands. in blocks of 81 900 to $1,000. all
at S.i2. This proved to be the chief
interss, in the market, which was
otherwise slow and not especially in
tereSting.
The attendance of members was
larger than for some weeks and more
iWere was shown in making the
usual quotations.
Railway 4s brought 6112 and
washington Gas -. per cent notes,
103. but for a $500 note only.
Mergenthaler showed on the sales
sheet at III ex-dividend.
Clearing House Action.
The Washington Clearing House AS
soclation recently took action on
resolution emanatins from A. B. A
sources against the clause in the
revenue measure exempting income OF
$500 from interest or dividend on
building and loan ASSOCIATION secu-
. rites
When the matter was considered
. here. an amendment was offered ask
ing for the same exemption for in
come in like amount received from
stock in savings banks or from inter-
est received the-efrom.
1t was held in the debate. that
there was really no difference be-
tween the two sources of revenue.
Both are encouragerS of thrift: both
are the results of saving and should
be treated alike.
The amendment was adopted.
Personal Mention.
Eugene f. Allies, formerly a MEM
T. g. = ~y,,st
, tee. one-time manager of the local
branch of the National City Company
and now at the head office of that cor
poration in New York city. returned last
evening to New York. after visiting
with relatives here and at Romney.
W. Va.
Charles J. Bell president of the
American Security and Trast Com
pany. has returned from a prolonged
vacation in the western country.
John B. Larner. president of the
Nashineton Loan and Trust Company.
is back at his desk after few weeks
at his summer kome. in PENNSYLVANIA.
f. & o. announcement.
TIE Baltimore and Ohio railroad
MANAGEMENT announces the conclusion
of permanent arrangements whereby
passengers for New York city will he
delivered at the Pennsylvania station,
1th avenue and SD street.
GottOn's Increment.
There has been maximum rise of
nearly 10 cents a nound. or $50 bale.
in the price of cotton. adding an in
cremnet of practically $500 o00. 900 to
the value of the 5000 900 bales.
This will enable banks and mer-
chants to secure the lauidatio of
many loans made last winter and last
spring on cotton and be a great help
to the banking situation.
Canada'S Labor Situation.
Discussing business conditions, the
Canadian Debentures Corporation has
this to say:
ITO pay for Canadian goods We pay
100 cents on the dollar To pay for
goods from the United States we pay
H. crntS on the dollar. Small wonder
that the European is finding it easier to
sell us goods while the United States is
finding it harder. and that the Canadian
has found that he will have to lower his
prices in order to hold his trade
Foreign competition is probably a
more serious factor in the United
States than it has yet become in Can
ada. the reason for this being partly
that the American dollar will pay for
more goods than the Canadian dollar.
German and other European goods
have been freely entering the United
States in competition with domestic
products and large impOrtations of
iron and steel products, ranging from
pig iron to the finest machinery. as
we'll as pulp and paper, textiles, dyes
and other merchandise. are causing
domestic producers 20 operate on re-
duced time. Canada is affected in
like manner to the United States.
Our industries are operating on a
reduced scale. and here, as in the
United States. there is considerable
unelnploymnt."