Evening star., 1924-08-15
TRADING IS SLNELYJa
ON LOCAL BOARD
Utilities Feature Busiest DaW
on Exchange in Several
Weeks-Notes.

Brisk trading in utilities on the
washington Exchange provided one
OF the liveliest markets in weeks to-
DAY, with prices remaining strong
Capital Traction led the list of
stocks moving 391 shares at prices
from SO to 93s, while Washington
hallway and Electric As featured the
bond side. $4,000 going at prices
from "A to 74A. ="
Washington Gas 6s moved 500 at
1o0a, while the $1,000 of the same
sold after call at the higher price
OF 1O1a. and another $1,000 went
still higher at 102.
Ten shares of Lanston Monotype
went at IS, while Mergenthaler moved
in two sales of 20 and 10 shares, at
157 and 157A
Half Worlds Gold in U. 8.
The united States has about halt
the worlds gold supply according TO
ngures of the director of the Mint.
The latest computation as of August
/, showed total of s4.5l7,483,yUl a
gain of $26,767,662 over July /. Dur
ing April s49,245,304 was added to
the gold stock of the United States.
and since January /, seven months.
the stock has been enriched S27U,2S3.-
040.
The present per capita holding or
$1,000 compares with s5.02 in 1873
when the Government resumed special
payments. The $1,000, 900 mark
in gold holdings here was nrst
crossed in 1900: the $1,000. .OOO.U 900
mark in 1915; the SO, 900, 600. 900 mark in
1917, and the $4,000, 100000 mark in
1923.
Commenting on this situation. the
Mechanics and Metals National Bank
of New York declares The truth of
the matter IS that the gold which we
imported has poured in upon US so
fast that it has given us an excessive
banking strength; a strength far be-
yond our immediate domestic needs
We now have the power to support
a credit expansion that is far greater
than any banking system ever boast
ed. An excess of credit is tempta-
tlon to expansion, and expansion that
is not controlled leads to imitation"
United Cigar Earnings.
United Cigar Stores earnings for
the last half year were 10 per cent
higher than the corresponding period
last year, while the Schultz retail
stores gained II per cent. Increased
consumption of cigarettes, and alb
sence of price reduction are pointed
to as big factors in the gains.
Better inquiry Tor Goods.
I'VE are at a turning point for the
better in general business" accord
ing to the Brook Economic Serv-
ice in its latest comment on the situa-
ton. There has developed in the
last few weeks a much better general
inquiry for goods. The character of
this inquiry is cautious and conserva-
tive, but is persistent, and constitutes
evidence of a change in public psy-
chology and d depletion of stocks Of
goods
Foreign Bonds Hold Up.
Moody's Investors Service of New
York declares the Two powerful fac
tors now are the cheapness of money
and the reparation settlement. It is
| difficult to reason out the far-reach
ing consequences of this settlement.
However. the superior strength of
foreign bonds over domestic issues
may continue indefinitely
Bankers to Aid in Defense.
The District of Columbia Bankers
Association will take part in promo
tion of plans for the National De-
fense day test. A committee has been
appointed by First Vice President
Francis G. Addison, of the assocla-
| tion, in the absence of the President
| Victor 3. Deyber. to cooperate with
| other local organizations in the OBJ
servance of the day. The committee
consists of Howard Moran. chairman;
| John NJ. Riordon, to represent the
| savings banks; l.. 4. Slaughter, to
| epresent the national banks. and
Col Edward A. Stuart, to represent
| the State banks.
Banker on Vacation.
Robert v Fleming. cashier of Riggs
National Rank has left Washington
for a vacation at Atlantic City.