The Washington herald., 1912-12-24
Nv l. 4. FLEMING.


Wall Street went into the noon houl
with an excellent show of strength, but
without much volume of business. The
confidence in the favorable decision in
the Minnesota rate case was plainly
evidenced, and it was, in a measure, the
discounting OF the expected decision that
started prices to very much higher fig
ures. l and 2-point gains being made in
the leading rates, but less important ad-
vances in the industriais, as these would
in no wise be affected by the decision.
Many traders were away from the city.
the holiday spirit having called and
many answered.
Weeks ago il was stated that the de-
cision in the Minnesota rate case had
not only been made. but that it had been
printed and was in the hands Of the
Chief Justice.
When the court gave a few unim-
portant decisions, and once again evatied
the question of vital Importance to all
roads, the bulls became disguised and
the bears took occasion to dispose of a
few thousands of shares on a sagging
market, with the result that Steel was
off Is, Union Pacific y, Reading Il, Le-
high Valleay z, Great Northern y, Gen
eral Electric II, Copper rs, and Smelt-
ing Z.
Even on the retrograde movement
there was no activity, no volume to the
trading, just recessions and slow, sagging
breaks.
Predictions are made that the banks
of New York will have $4,000 900 surplus
by the end of January.
The inflow from the interior during the
next three weeks is expected TO be very
heavy, coming back from crop movement
through crop marketing.
As stated before in this column, the
management of the Washington Gas
Light Company has not the slightest idea
Of advancing the price of gas to their
customers.
The statement appearing in some papers
TO the effect that an advance was con-
templated Is absolutely without founda-
ton and would be out of keeping with
the records Of the year.
The Washington Gas Company during
the year 1912 will make its record for
production and consumption.
The sales Of gas will total go, 900. 900
feet more this year than last, a most
remarkable growth, and repayinG the
for honest efforts to increase
consumption in heating and fuel, as well
as in lighting operations.
Last year the company fell slightly be-
low dividend requirements in its earnings.
This year there will be a good excess.
Moreover, if the Washington Gas Com
pany finds itself short on oil, it will
make more coal gas. which is really a
better gas and thus surround the horns OF
the bull.
This information comes direct from an
official of the company. who also express
ed regret that the story of an intended
advance should have been made public |
10 the uneasiness and misinformation Of
thousands of consumers.
officials of the company do not fear !
the inrOads of electricity son gas. but |
rather expect that the sale of gas will |
continue to increase and do a large per-
-entage Of the light. fuel and heating of |
the city, with increases every year
The annual election of the Washington |
Gas Company will be held in February /
So far as can be ascertained the opposi-
ton to the reelection of President Letter
has not centered on any one candidate,
but is testing the field. with the choice |
well indicated. Should the
grow, as it is expected to, a
light will be made for proxies.
Proxies have not been sent out from
he gas company's Office as yet. but so
FAR as known there is no crystallized OPP
position in the directory to the present |
president. so that he probably will have
he support of the directory. unless some
,ther candidate should come 10 the front
Washington bankers have the Christ
mas spirit The National Savings and
Trust Company marks up the salaries of
Is employees with each recurring year;
he Union Trust boosts salaries every
,ther year. and this year is giving all
Employees a gold piece of the denomination
f pieces of ten. The American Security
las set aside 10000 pension fund, and
me Old-timer is now drawing his 80
month. sufficient to maintain the faithful
in old age. The United States
rust Company plans increases in sala-
les; the Commercial National Bank has
profit sharing plan for all its employees,
nd then about the middle of January,
yhen the holidays have been gathered to
heir fathers. the entire force dine. a big
Happy family, at the expense Of the
Jank.
Other banks are planning good things.
Byllesby & Co., the great utility con-
operators, and promoters,
ave just elected three new vice presi-
ents
First on the list comes Gen George