Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-09
C. & P. Telephone IS of Vir-
ginia Prove Leader in
Weeks Transactions.
LOCAL UTILITY SECTION
ALSO ATTRACTS BUYERS
Stock Purchases Hold Up Well for
Midsummer Dealings
on Exchange.
BY EDWARD C. STONE.

Bonds have recently come to the front
in the trading on the Washington Stock
Exchange and for time at least have
taken the lead in volume over local
stocks.
The most interesting bond trading
during the week was in Chesapeake &
Potomac Telephone SIS of Virginia, which
figured in a 100000 turnover
Last Wednesday these bonds came
out in 10 sales of 1000 each, followed
on Thursday by ten $4,000 sales, one
right after another, the entire $4,000
selling at 1854.
Up to this week only $4,000 OF these
c. q p. Telephone bonds had changed
hands during the present year. They
sold at 1882 several weeks ago, and
the present advance has brought them
to the highest price for the past six
years. They now yield about 400 per
cent; there are $4,427, 900 outstanding
and they are due in 1913.
Other bonds which have recently been
In good demand on the local Exchange
include Capital Traction IS, Potomac
Electric Power IS, Washington Gas
Light issues and the Washington Rail-
way g. Electric As. Columbia Country
Club 5Iss have also appeared on the
board several times recently.
III lOCd1 btOCkS has also DclO
up well for Midsummer, and, everything
considered. Exchange officials are much
pleased with the way business has acted
in the first seven months of 1881.
Local Banker GIympses Europe.
President Bertram Chesterman, of
the Washington Morris Plan Bank,
who is Just home from Europe says
that conditions are far from rosey In
the 4ne 4.rfaa s~{<
Although many of the reports from
abroad have no doubt been overdrawn,
his observations indicate that the intri-
cate mechanism of international finance
Is greatly disturbed, credit reparations
and war debt payments looming large
in the situation
However. the leaders In finance ia
the different countries are working
hard to meet present problems and Mr.
Cnestermail Is confident they win ind
q satisfactory way out of most Of their
difficulties When that Is Accomplished
the revival In foreign trade viii come.
Most of the flnanciers with whom the
washington bankers talked were con-
servatively optimistic.
Robert g. Jones a Co., Inc, invest
ment bankers, with Offices in the Shore
ham Building, announce that william
= Fitch. lr- has Joined their organic
&4tAoAs MI. E1tCAA WAS 1OTEQGT1y mead
OF mis- own investment firm and is the
son Of DR.. william z. Fitch Of New
York City. who Is well known in WASH
ington medical circles.
Local bankers received announcement
this week OF an offering of S93O. 500
West Virginia Water Service Co. list S
per cent bonds, series A, due 1851, at
81 to yield SIS per cent. The Offering
L made by Halsey, Stuart a. Co. and
Ohrstrom 81 Co. The company supplies
water for domestic and public use in
West Virginia and Kentucky and also
supplies electric power and light in West
Virginia.
Financial District Notes.
Washington cleared $40, o62 900 this
week against $l8, 143, 900 last week. or
decrease Of s.8 per cent from this
week last year
The volume Of money in circulation
in the United States totaled S4.837 POT
719 on July 81, or a per capita circula-
ton OF $685.. This was greater than
the volume in circulation on June 80,
when the total was S4S2I ,933, Asst, or a
per capita circulation of $38.57. The
total on July 81, 1880. was $4.426. 49,
631, a per capita circulation Of SIS. 90.
DR.. E. w. Spitz OF the firm Of Theo-
dore Prince a. Co. New York, has been
elected an additional director Of the
Greenway Corporation, an investment
trust, with headquarters in Baltimore
OfncialS stated that this is an initial
move In an expansion progra-..