Evening star., 1922-04-04
BIC BOND TRADE
ON LOCAL MARKET
Potomac Electric Issues Fa-
vored in Investment Buying.
Other News Items.
BY I. A. FLEMING

As predicted yesterday, the member.
Of the stock exchange did bushes. in
blocks today. Their cards were loaded
with buying orders and the prices Of
fered a chance for some earlier buyers
to turn their bonds at a profit, SO that
business was very active from the open
ing to the close of the session
In all. over $4,000 par value OF pub
lilo utility bonds changed ownership,
representing the reinvestnent Of April
distributions.
Potomac Electric issues were highly
favored with sales at 927s for the Con-
solidated, 1861 for the General rs while
General IS sold at s92. Capital Trac-
ton 5s advanced to e5A and Washing
ton Gas IN per cent notes to 105Is.
The feature of the trading in stocks
was the further rise of Washington Gas
ment-
Traction stock firm at s5Iz to s5ss.
1t was big, broad market, reflect
ing the strength of the investment
markets of the world at this time.
To Talk on Strike.
Members of the Washington Asso-
citation of Credit Men will learn first
coal strike when George H. Cushing
Washington director of the American
Wholesale Coal Association, ad-
dresses the midweek luncheon of the
Washington Association of Credit
Men tomorrow at the City Club.
George Gushing is known not only
for his intimate knowledge of the
coal trade of this country, but also
for the fair and vigorous way in
which he presents the facts. and com
ing at the time that it does. his ad-
event of Importance.
Had to Move the Snow.
A decrease of s1o.575.s5 in the
February earnings of the Capital
Traction Company probably is ac
counted for, at least partially, by the
heavy expenses incident to the re
mova1 of the tons of snow from the
tracks Of the company following the
heavy fall of "the beautiful" with the
closing days of January.
Business on the Capital Traction
lines has been heavy SO far this
month, and promises 10 equal il not
exceed April, 1921, earnings.
elearings Continue to Gain.
Daily clearings continue to show a
satisfactory increase in business not
only here, but in the larger cities, to
much greater extent.
The turn from the depression is
marked by a gain of s101,sOS.Isl in
the clearings of New York city, SIS
431,121 increase in Chicago clearingS.
$1o.9S2,069 in Boston. and s56,363 in
Philadelphia. These gains are on yes
terday's business.
Calls for s23,es2.5oo.
Secretary Mellon this morning re-
quested banks holding proceeds OF
sale OF certificates of indebtedness
dated March l6. 1922. due In one year.
to pay into their respective federal
reserve banks 10 per cent of such
funds. This will call for s23,s62.5O SEQ
to be paid on Thursday of this week.
The payment of the amount named
will still leave with the banks S2l5.-
662,500.
Missing-sIO0.
When the books were balanced last
night, after one of the busiest and
most exciting days in the record OF
either the Merchants or the Dupont
National Bank. the successor to these
institutions, the Merchants Bank and
Trust Company, closed its accounts
with shortage of 500.
Not bad days record when II is
considered that a hold-up had been
play had gone over, and the thief.
closely pursued and brought to bav
by 1.-THE, slim young teller, had
scattered the banks cash up and
down 18th street
In the meantime the deposits of
by 100000, and the total deposits OF
the trust company and its Dupont
branch reached about s5,oo0.ooO.
1t was in the agreement that every
director should be the owner of 100
shares of stock in the Merchants
Bank and Trust Company, and Mr..
Drury says that the agreement was
lived up to-"