The Washington herald., 1912-12-17
liz l. A. FLEMING.

the bulls had all the better OF the ses-
sion.
Everything was going the bears way.
They had the entire stock list on from
two to five points before the noon hour
the maximum loss being in Reading,
where the bears confidently expected the
Supreme Court to administer an anaes-
thetie that would put a quietus to the
efforts of the POOR, thoroughly whipped
bulls
When noon came on the market was at
its worst and then came the Supreme
Court decision, not on the Minnesota
Rate case as expected, but on the Read
ing suit and nominal victory was
handed to the Reading on a plate, the
court holding that there was no reason
for segregation on the part of the Read
ing.
Immediately the bears started on the
movement towards covering their shorts.
The whole market was Influenced by the
elixer Of the Reading decision The bears
became furious in their attempt to get
out of the trap. They were in evidence
in Reading, more prominent in Jersey
Central and badly smashed in Delaware,
Lackawanna and Western, If one may
judge by the price movement in the
three stocks.
Reading recovered its five points loss
and made net gain for the day OF IA
points; Jersey City rose five points and
Delaware & Lackawspna made a 2e
points gain-going some for all the an
thracite ''coalers.'
1t is expected that the Reading will
soon Increase its dividend rate to per
cent. This was the plan, provided seq
regation was not ordered by the court.
The directors will meet on Wednesday,
at which time the dividend will be con-
sidered.
The finding OF mo conspiracy found
grateful reception in the street
The Reading decision was entirely I'M
expected and all the more welcome to
market that was a-weary from much
smuggling. 1t was influential enough to
raise the entire list from the dumps
The shorts tried here and there to cover,
but suddenly found that stocks were not
pressing for sale, and therefore it was
necessary to bid 'em up il they would
get out
Aside from the feature gains Of the
session, Union Pacific came back with |
1874 advance; Steel gained a point; |
Union Pacific preferred, SIS: Bethlehem
Steel preferred, =, and the list, IL to 1
point
Only a few stocks were lower. stocks |
in which the movement was not espe-
cially heavy. Cotton OH being about the |
weakest, with 3-S loss
The court refused to order the ris- |
solution OF the Erie. Jersey Central. and |
other alleged combinations of anthracite |
carriers.
All street leaders declared that there |
was nothing menacing in the decision" ." |
The drive against Reading shorts by |
leading houses was continued against
shorts in Steel, Union Pacific, and other
stocks.
That the market recovered from its
serious smashing of the morning and
that few shorts were able to cash their
profits was evidenced by the markets
action.
Whether it was a discussion Of the I
affairs of the Washington Utilities Com
pany and it's aims and objects in one of
the pulpits Of the city, the absence Of
w. 5. Hibbs from change, or a disposi-
tion on the part Of holders of Railway
preferred to get out. the stock sold at
81 and IS 1-2. The best bid for the COM
mon was s., and So was asked, though a
little higher bid would probably have
dislOdged stock.
Small investment buying was noticed
in Capital Traction at I22 IL, and this
with a small movement in Lanston at
SO and 50 1-2 completed the stock record
for the day on the local market.
In the bond section, Railway IS sold
10 So 3-4. nearly point loss.
Capital Traction SIS, 11O
A generally easier tone was noticed in
bonds. The best bid for Potomac Con-
soIidated IS was S9%i, and for the first
5s 1914.
Gas was held at S5%. with s5H bid.
There's investment montey here" said
n prominent Exchange broker land
Pleny of it, but until the Washington
Utilities Company shows its hands, its
aims and purposes and what it hopes
to accomplish it will be hard work to do
anything in stock"
THE market is fat" said another,
and the sooner the whole matter comes
to a head the better for the Washington
Exchange"
The Commercial National Bank has fur
nlshed a useful and excellent advertis-
ing device in the shape OF stin heavyI
binding board covers for telephone books
The covers were instantly installed
around banks and brokers' Offices show
ing how popular a proposition had been I
put out. Everyone is grateful to the I
Bank of Popular Service
The Citizens Savings Bank received its
nrst dividend yesterday from the Citi- ,
zens Building Association Company.
Quarterly dividends were declared IL
per cent by the District National Bank. a
quarterly per cent dividend by the
Commercial National Bank and a semi
annual dividend of per cent by the Cit
iEens' Savings Bank.
Comptroller Murray left Washington
yesterday for Pfttsburg, where he will de-
liver lecture before the chapter Of the {
local association OF American Institute
of Banking.
Alexander Wolf. counsel for the Bank :
OF Commerce and Savings, will deliver 7
the eighth lecture of the course in bank
ing and finance of the Washington !
Chapter. American Institute of Banking,
on Thursday night. Mr.. VOLTS subject !
will be Savings Banks" The lecture !
begins at s:l5 o'clock =
The six trust companies, eleven na- T
tional banks, fifteen savings banks in the
District Of Columbia have a capitaliza-
ton of s16.53O, 41.2S, divided as foIIows:i