Evening star. [volume] (Washington, D.C.) 1854-1972, 1921-01-10
RAILWAY IS HIGHER
ON LARGE BUYING
Price Advances From 81 80
i to 59-SteeI Tonnage
Shows a Decrease.

No one could complain OF tne dctioi
In the local stock market today. 1t
was broader than at any time since
last year. when the taking of losses
increased the daily volume OF pusi-
ness to large proportions.
There was evidently good rem ,
yestment demand for securities. and
especially for Railway As. IN an
s10.50O face value. selling on an al
vancing scale from an opening a.
s7A. by fractions. to 50. This re-
coyery places the bonus back within
Y of a point of the high PRICE OF
Potomac Electric General 6s sold at
slls. ., ars
strong at 81. A few shares OF Mer-
renthaler brought 1909. a fraction
above recent records.
A matter of 100 shares Security
Savings and Commercial Bank stock
changed hands in ten io.s a
1gs. the closing price of last year. q
..Ie of District National Bank stock
was made at 16e.
Graphophone common sold sparine-
w at 12s. while some fractions
brought as high as 13-
Unhlled Tonnage.
untitled orders on the books of the
United States Steel Corporation at the
close of business December 81 toda,ea
S.f4s.l22 tons. a decrease OF s'".'os
toAs the largest decrease of any month";
" report since the reaction set IN anu
tine smallest total of untitled orders since
November. 1919, when but 7,12S.S3o tons
of untitled orders were on the books.
Treasury Certificates.
Secretary Houston announced two new
issues of Treasury certificates. ootn
dated January Is. one issue maturing
fhnr in
The sbort-term certificates bearing y.
per cent interest and the longer maturity
81 per cent ,;,
The Secretary hopes that the sale will
total $25O.OOO. 900. which will enable
him to meet $125.oOo. 900 certincates ma
turing with January 10. the only gov
eminent obligation maturing on tnat
date. and at the same time TO PROVIDE
a margin for expenses not met by cur
rent revenues during the first Quarter
ofthe year. when tax payments are Ne'!
light. =, r
por cent in the interest returns OF the
certificates should not hamper the Ger
tificate sale, as it is recognized tna'
they offer excellent opportunity LOT the
temporary employment OF CASH anu
that money is really more plehtiiu''
and that much of it VIII seek Sho&
term, safety investment.
Individual Tax Forms.
Forms. 1910. for individual tax re-
Turns for the calendar year were deslH-
cred to one of the local fiscal inStifu-
lions this morning. Forms may be Cd
tanned after today from your banker.
Within a week or two the tax receipts
at1the Treasury should make a mate
rial difference in the position or the
national finances.
steel Corporation Operation.
1t is stated that the United States
Steel Corporation now is Operat,ns
AT 90 per cent of it's capacity: that
the smaller Independent concerns are
not producing over 20 per cent OF
capacity.
Steel Corporation prices have been
steadily lower than those of the in
dependents. hence they obtained the
bulk Of orders. but the independents
recently cut to the corporation price
level. There is small incentive to cut
rates at this time. as operating ex-
penses are high.
Increased consumption OF steel usu-
ally develops with the opening Of the
spring season in March.
n is a hard matter to divert Steel
buyers from production that has
satisfied and prices that have favored.
II. Y. FlemiBx to Lecture.
Robert v. Fleming. cashier of the
Riggs National Bank. will lecture be-
fore the elementary class of the
Washington Chapter. 4. !. r., tomor-
row night on The Clearing House.'