The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-12-25
By 1. &. FLEMING.

The holiday spirit, was dominant every
where yesterday and Wall Street found
its great mart almost deserted, and the
few who chained seemed intent on CIV
ing the tFsker service a much needed
vacation, 1t seemed as if the bulls had
reachedfa truce during the happy period
that even prices did not care to make
undae fluctuations, and so throughout the
session the best of feeling prevailed and
rAuctuations were limited as they nave
not been in months.
The gossip was more or less negative In
character. as were the price fluctuations
the only important price change being an
advance of 3 1-2 points in Brooklyn RAPID
Transit Company shares. For this ad-
vance the arrangement Of the Pubnc
Service Commission, the Brooklyn Rapid
Transit Company, Interboro and city ori-
Gals for dual subway system was given
credit.
President williams, of Brooklyn Rapid
Transit Company, made this statement:
Yes, II Is true that we have yielded on
the important question which stood in the
way of an agreement between the city
and ourselves on the subway contract
This is a question of interest during con-
struCtion. We yielded not because we
thought the attitude of the Public Service
Commission and Board of Estimate was
fair or right, but because we did not feel
that the contracts should fail entirely
because OF the difference over the ques-
ton. There were, OF course, other ques-
tons of difference which have not been
publicly discussed, and inasmuCh as a
verbal agreement was reached as to these
there is no necessity of referring to them
IN detail. This verbal understanding is
being incorporated in language, and as
Stunning that the language reflects aC-
cuTately the understanding of the con-
ferees, there would seem to be nothing
now in the way of the speedy cOnsum-
nation of the contract"
This was really the one important item
unless the fact that the Bank of England
postponed action on the discount rate
until Thursday may be taken as meaning
something else than a holiday move.
Usually the action in this matter is taken
on Wednesday and reaches US on Thurs
day morning.
Stories from the steel industry were
encouraging and railroad earnings con-
Gnue most satisfactory.
Bethlehem Steel was very strong on
Increased earnings. the common going
up z and the preferred Is.
lnterbOro was also higher on the set
Element of the subway proposition, 1aI=
being recorded.
Delaware and Lackawanna lost points
on nothing in particular. Louisville and
Nashville was also weak and off 2k.
Reading gained z. Copper y, and Pitts
burg Coal preferred l Is.
The Washington, Baltimore and Anna
polls Railroad Company has declared a
dividend of ~ per cent on the preferred
stock, payable December il, to sharehOld-
ers of record December n This divi-
dend, with the IL per cent paid October
!, makes the regular per cent distrib-
utiOn for the year 1872.
This is an admirable record for the
property and is largely resultant from
the terminal rights in the heart of Wash
ington, which has greatly increased. the
traffic between the Capital and Balti'
more. Shareholders are to be congratu-
lated on the size of their Merry Christ
mas.
More cordial relations exist between
the two local gas companies than for
months past. The full entente has not
been restored. but the chances are that
conditions will atHeast be on a speaking
basis.
\ resolution entered on the books Of
the Washington Gas Company some
weeks ago. TO the effect that the COM
pany would supply the Georgetown Gas
Company with gas at any time helped
matters some. 1t VIII be recalled Indl
there VAS some opposition on the part
Of the larger company TO lend the help
ing hand, or rather the needed gas, and
that bitter compliments were exchanged.
Then followed the soothing resolution
and the turn OF the spiggott will now fur
nish all the gas that Georgetown cares
to receive and pay for.
Two recent movements by the George
town Company have been of great value
to the Washington Gas Company. Last
year when the price Of gas west of Rock
Creek was cut from a dollar to s. cents,
the action STAYED off a bill for the reduc-
ton of the cost of gas in the District
When the price of gas was raised by the
Georgetown Gas Company directors the
other day they gave notice that the cost
OF essentials had advanced to a point
where there was no longer a profit in the
manufacture of the illuminant, and the
case was presented so fOrcifully to the
Commissioners that they were compelled
to see it,
There has been some agitation for even
cheaper gas within the last month or
two, move to probe" after the House
methods, and a spike has been put in the
tires of both these propositions by the lat
est developments.
One hears much talk of consolidation of
gas companies as the solution of the gas
problem in the District. Georgetown
lacks consumption of about 100000 to
BQ0 O0S cubic feet to make their PROPOSE
ton a satisfactory profit-payer. The COM
pany has recently extended its mains at
a cost of about $500 900 in territory where
there will be practically no returns worth