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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Sep 04, 1919
Page
3
The Washington Post notes brisk up trading in most rail bonds with general price gains while industrial and foreign bonds show dull activity. Liberty bonds see unusual turnover as First 414s and other issues move. corporate financing weakens after mid month amid Flumb plan debates.
August financing shows record stock offerings led by Standard Oil of New Jersey while railroad funding stays light. Call loans steady at 6 percent as maturing certificates loom. Bank of England rate cut shifts funds to British assets. Sterling around four dollars, early signs point to a global capital shift and easing food prices amid anti profiteering campaign.
District of Columbia bankers weigh inviting the American Bankers Association to hold its 1920 convention in Washington. A committee will ask for a $10,000 entertainment fund, with officers favoring a modest program rather than lavish entertainment to keep delegates focused on business.
The Washington Stock Exchange session saw bids rise on public utilities with Washington Railway and Electric common stock up from 21 to 24 with money offered and preferred up from 48% to 50 with $1 asked. Capital Traction remained steady with bids at 6 and asks at 88. A small lot of Columbia Graphophone Company common stock sold at 43, equivalent to 499 for old stock. Several other issues were noted in the mixed market.
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