The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-12-20
BY i. A. FLEMING.

By j. A. FLEMING.
Wall Street shorts, and there was a le-
Gion of them Wednesday, received the sur
prise CT their speculative lives yesterday.
They counted the market as easy prey.
They were ready to fall upon 1t foot and
horse and to make the old market yield
many shekels.
But Wall Street goes by contraries. It
stiffened I'D Thursday Immediately on the
opening; it was slow and in a quiescent
state during much Of the session, but suf-
ficiently sentitive to good news TO make
the shorts uneasy, and then in the last
hour il gave them a scare and sent them
into the pits to cover as freely as posi-
BILE. putting prices up on themselves with
the aid OF what apparently was inside
buying to push the scheme along.
The chief elixir of the market came
from the announcement that the Union
Pacific had appealed to the Supreme Court
not to be obliged to transfer its holdings
Of Southern Pacific from the block TO the
highest bidder and without the usual up
set price" that protects the customers OF
the auctioneer.
officials of the company believe they
should be allowed to sell the shares to
their own stockholders in ratio with their
holdings.
not especially happy when inactive. is OPP
posed TO this method, arr threatened an
appeal to the court. but the Union Pacific
people have anticipated and have gone d.
rect to the final court for action.
Then. too. the bulls found themselves
must stronger because of the peaceful
news from abroad, and the seeming assur-
ance that the war cloud has been dis
PEELED, that the peace commissioners will
fov, NF 10 r
isfactorily TO at least the allies and
Austria.
The short line is SO large that it is
soaring the bears. The possibility OF a
favorable decision on Monday In the
Minnesota rate case holds terror for the
shorts, and probably was responsible for
part of the advance and underlying
strength.
A third bull argument developed in
Smelter, and here the shorts found them
selves run in for a four-point loss on the
day, the stock advancing 4 10 points from
tho closing of yesterday.
Mexican Petroleum turned the other
way for a two-point gain after much
weakness for week past.
Union Pacific moved up points. Read
ing lis.
Business was not especially active. less
than 10000 shares. but the real activity
" TIE llldIhtl "dS III lUt last lldll llOuI-
Directors of the Washington Utilities
Company met Yesterday afternoon and
declared a dividend OF - cents a share
10 shareholders of record December %
PAYABLE January ., 1878
This is the second dividend distribution
Of the Washington Utilities Company. a
Payment of 80 cents share having
been made last July. long before the
mr. D11Inft onN-fh3nr al ha
big corporation
The cash for the dividend payments
comes from dividends on Washington
Railway and Electric stock holdings and
from profits on Washington-Virginia Rail-
way Company shares which the big cor
pOratiOn owns
The National Geographical Society has
decided to erect a new home on 7o-feet
front on Sixteenth Street Immediately
adjoining the present structure, known
the Hubbard Memorial Building. which
was presented to the society by Mrs.
{. J. Bell This building will remain as
it is and will be used by the society.
The new structure will be three to four
stories in height and will occupy 20 feet
front to the alley in depth. The society
owns the S0-feet front, south of its pres
eut home.
Inc NdllDndl GeOITaDulCdl society mas
1:i5OpJ members, the board of governors
passing on 7.COO candidates at the meet
ing on Wednesday night. Its membership
includes men and women all over the
world.
The Munscy Trust Company. of Balti
more Capital. 100000; par value, 800
- share.
Circulars announcing the formation of
the Munsey Trust Company, Of Balti-
more, were received Thursday by Wash
ington bankers and brokers quite Gener-
ally with subscription blanks inclOsed.
subscription books to be opened ut 3 a. m.
on Saturday, December y. and to close
promptly at noon on the same day.
Middendorf. Williams & Co. OF Balti-
more. are the fiscal agents. and the books
are to open and close in their office.
The name of Mr. Munsey does not ap-
pear in the literature other than as the
title of the bank.
ITO meet the demand which exists at
this time for such an institution. certain
business men, bankers. and capitalists in
New York. Baltimore, and elsewhere
have arranged for the organization Of
new trust company, to be known as the
Munsey Trust Company
II is also stated that subscriptions for
$500 O00 of the stock of the company had