The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-12-25
WALL STREET NEWS
Engineers Strike on West
ern Roads Affect Stocks.
REVIEW OF WEEKS BUSINESS
Railroads Lay on Trains 10 Reduce
ExPenses-New DispatchtnE Meth
ods Tried on the New Haven Road.
Increase In Railroad Rates EN-
Peeted-Securities Speculative.

New York. Dec. Glover prices for
copper metal, expectation Of lower prices
for steel an increase Of Lehigh Valley S
dividend rate from to 10 per cent, and
capitalization of the local traction Situa-
ton in New York City were the impor-
tant developments the past week in Wall
street
The dispute between the railroads OF The
Northwest and their locomotive engineers
was not adjusted but late in the week It
appeared as though the railroads would
give the men an increase OF from to 10
per cent In wages and that the threaten
ed strike would be averted. Gross earn
ings OF the railroads i'm the Northwest
showed Improvement because they are be-
ing compared with "a period last year
when labor troubles and bad weather cut
down earnings. Explosion of "a power
house in the New York Central terminal
al New York at no time affected the stock.
because the damage. although very large,
viii be charged to construction account
How Railroads EconOmize.
Railroads in general began to reduce
operating expenses by laying of passen-
ger trains Half a dozen trains were laid
of during the week by various roads and
more are promised The New Haven has
also introduced scientific management in
the dispatch.ng of freight trains through
which il hopes TO make a large saving in
operation, Two Western roads are also
arranging for scientific handling of freight
AT terminals Report persists from Wash
ingtOn that the railroads viii get an in
crease in rates equal TO half Of what they
demanded and viii get il in January. The
roads west of Omaha have not asked for
an Increase and viii Dee glad 70 retain
what they already charge.
In regard 10 the local traction situation
in New York, the stock market is inter
cSted only so far as the investment value
of securities involved viii be affected
The company operating the present sub
way proposes 10 make all the extensions
demanded by the city and charge no ad-
dltional fares for the use of these eX-
tensions. While there is universal feeling
that + is would be a desirable arrange
ment lOr the people there is universal
dlstrust, of the company because of its
contemphous treatment Of passengers.
and as a result il is very doubtful if the
offer VIII Doe accepted
stock Issues Favored.
Because of this situation. marlborough
Metropolitan securities, which ought 10
be gllt-edged\ investments. are mere
speculations. Viewed from a speculative
standpoint, perhaps the one best bet
would be that the present subway com
pany viii get what il wants regardless
OF public sentiment. and the shares of
The corporation are. therefore. a danger
Gus short sale
Hearings before the railroad securities
commission, appointed by President Taft,
developed that leading railroad men fa-
Vor stock issues having no par value, and
prefer Federal 20 State regulation.
President r. $. LOvett, of the Union Pa
cifc. says he questions the constitution
ALT, of any law regulating issues OF Sc
curlties by the general government.
while Robert Mather proposes that since
the government has injured the credit
or the railroads by its new laws il
should help them raise new capital by
guaranteeing their bonds, as tine Cana
dian government does.