The Washington times., 1912-12-29
IN LOCAL FINANCIAL CIRCLES
By GEORGE 4. GALL.

were cosnisant OF the fact that q dIvi.
dcnd had' been declared and that the
esock was being sold ex-dlvidend.
However. no indication Of the dcclsra-
ten OF q dividend had been posted on
a. required BY the rules. Tho buyers
assumed that the deal had been made
~ carrying dividend and long and. at
mmes. acrimonious argument followed.
buyer e o. cs; " s hss o. Ss s:r.:S :ss e c and
ce!, II view Of the misunderstandins
ana this was announced. But, under
tho ruling Of the chair. that In viaw OF
snS rules the stock must carry the
ally. the directors Of the bank which
had declared its dividend Of which the
exchange had received no notice came
IN for rather vigorous criticism.
The historic nome Of oeerss Mason.
hss been purchased BY Louis Iiertle. 9
ChlcaGoan. who viii made the old
friend and .neishbor Of George Washing-
ton. The house was buiit IN 17S0. Tho
sale was made through the office Of H.
W. Hilleary 4 Co.
Members Of the New York Stock Ex.
change may now make whatever charge
they please for clearing securities
bought or sold outside the exchange:
The rule that q commission Of y Of
scinded BY the governing Board yester.
day. The rule was objected to on the
sround that II hampsred bond trading.
The LacIede Gas I9ht Company. of
". Louis. 10 the nrst ARTIFICIAL gas COM
pany IN tho United States to 20 into
This winter tSs con company M . viii iii supply uS;
sss s.v.n,x lSsl ,,1Ia,hs aSr the s hsatins Of about
from the smallest TO the largest. . few
stores and offices and two medium size
factories. The company believes this
neld worthy Of fullest exploitation.
The statistics compiled from official
sources and published In the Railway
Age Gazette In its issue Of Decembe.
y -, show that one has to 60 back for
mftsen = Year,. namely. to ls7. to md
miiesE. was bull. a as - IN is,s. and oas one
has to 10 back six years. namely to
. number Of locomotives and as large
The marked increase In in activity y1i; .ions
industrial lines during the last part
Of 1912 10 shown ~ the fact that be-.
tween two and three times As many
freisht cars were actually built in 1911,
were actually built in 1912 than in 1871.
The OFFICIAL figures complied by the
Railway Age Gazette for the number OF
railroad receiyerships. the number of
ratIroad foreclosure sales and the
railroad foreclosure sales and the amount
OF block signal mileage. all give indi.
cations Of the same conditions that are
Illustrated by the extraordinarily small
amount Of new railroad mileage built
and the very heavy orders for new
equipment. namely. that capital 10 re.
fusins to 90 into new railroad enter.
prises and that the prosperity Of the
last half Of 1912 Is taxing existing rail-
road facilities heavily.
Notwithstanding the fact that 1911 was
considered q very unss tisfactory year
for railroad building. there was sos
miles Of new first track built In 1871,
while in 1912 there was only 2se7 miles
built. The 2.987 miles built In 1912 was
built In forty-one States. no new mile.
age at all being built in Alaska or five
States. The largest mileage was built
In North Dakota. In which state 347
miles OF first track was built, with
Texas second. in which 3S6 miles was
built.