Evening star., 1921-08-26
F|RMER TONE IN
! LOCAL SECURITIES
Earnings of Gas Companies
DecFeaSe-Credit ConG-
ti0nS Better.
ny I. A. FLEMING.

There was considerable improve
ment in the volume of business trans
acted on the local stock exchange to-
day, not that the aggregate was
large, other than comparatively. but
the feeling was a little better, prob
ably induced by the improved senti-
ment on Wall street and the turn for
the better in market values there.
Metropolitan Railway 5s sold at 90,
indicating a little better strength.
This issue natures in 1925 and the
price indicates the confidence of the
street in the bonds.
Potomac Electric General IS were
also f1rmer. selling at SO.
Washington Gas shares steady at 43.
within two points of its high for the
year.
Capital Traction firm, with a quota
Zion lot at IS
Lanston entirely nominal. 72 bid and
SS asked. with the dividend just off.
Personal Mention.
Frank f. Ghiselli. assistant cashier
of the Commercial National Bank,
will leave tomorrow on his vacation,
which he will spend at Asheville. n. c.
The Washington Gas Light Com
pany reported gross corporate income
for July at $44.397.79, from which de-
duct $32.936.66 interest and other
charges, leaving net corporate income
of $l1.4S1.13.
This is a large reduction from the
June showing. when the company re-
ported net corporate income of $751;
July is the low consumption month
FOR gas-indeed. all utilities usually
show decreases for the midsummer
dog days.
The Georgetown Gas Company for
July reported gross corporate income
of S4.oI5.61. After interest and other
charges the net corporate income was
$1.237.3S.
f. J. McQsade Talks.
L. ]. McQuade. cashier of the Lib
erty National Bank, lectured to the
officers of the Navy Supply Corps at
. the school of instruction in the Navy
building today on the farm loan act
and the posal savings system
He went into the many details of
the farm loan act. stating its generous
purposes and giving the operations
Wen as the many joint stock land
banks,
Mr.. McQuade stated that since the
inception of the act-July II. 1916
ing ss.592.70O. and that more than
1000 national farm loan associations
Board
1t is estimated that the governme mt
made net profit out of the postal
savings system in 1920 of sI.720. 900.
over 40 per cent of the postal savings
deposltors are foreign-born or of
foreign extraction.
The number of postal savings de-
positors is more than 100000. and the
total amount on deposit July 81, 1921,
was s152.5O0.0 900.
Washington. D. c.. was thirty-fourth
city in the United States, with de-
posits of s41o,7s1. New York CITY
leads with s47.435.3s
Some Jmnroven,euf
The credit clearing house of New
York. in review of credit conditions
the country over. finds that the vol
ume OF claims recorded in July was
10.4 per cent less than in June. but
that in cOmpa rison with July of last
year there is an increase of 25.4 per
cent
The average claim in July was 2. 1
per cent less than in June. but 22S
per cent less than in July. 1920.
This would be encouraging but for
the largely increased claims
In many sections the smaller mer-
, chants are shown to be in a stronger
!, position than some of the more i'm
iportant houses.
In the special comment made atten-
kton is called to "a splendid improve
ment in the northern agriculture
section over the June showing, both
as to the number and amount OF
claims"
From q section of the country be-
Heved to be suffering from more or
less general depression. comes the as
surance that ''the decrease in number
and volume of claims in the southern
agricultural district shows a steady
growth of confidence among the cred
itors Of the section.
Since the cotton crop has been so
economically produced as to promise
profit even at low prices. and since
merchants are reducing their liabili-
ties, the fall outlook is promising"