The Washington herald., 1913-12-25
READING SHOWS
FOUR-POINTGAIN
Stock in Demand Right Up to
Close-Steel and Union
Pacific Figure.
PROSPERITY OF SOUTH
Porto Rico Bonds Offered Here-Few
Transactions on Local Change.
Cotton Ducks Drop.
PROSPERITY OF SOUTH

Reading furnished the excitement OF
the New York Stock Exchange yester-
day. the stock going up points. The
market closed with the stock in demand.
Steel and Union Pacific also Inquired in
the days transactions.
Price recoveries were not notable and
they give earnest promise OF a better
market in the days to come.
Reading led the advance with k-point
rise to I7o1-4, monopolizing some 30 per
cent Of the days trades.
Union Pacific was strong, and Steel
common reflected the anxiety Of shorts
TO get bank stocks. With a burst OF ac-
tivity unusual in this stock, Amalgamat-
ed Copper rose 20 "a. Lehigh Valley was
active at I55 IL and many of the minor
issues scored notable advances
rather snarp decline in Norfolk and
Western carried the stock to 100 IL on
the reiteration OF the story that Penn
sylvania would dispose of its holdings.
American Telephone made a further ad
vance and Pacific telegraph and Tele-
phone, that had been unduly depressed,
advanced sharply on small transactions.
Rock Island issues were under pressure
with liquidation in the bonds. Excessive
activity in New York Railway Adjust
ment IS carried the price up 2 points
to So
Prices May Go Up.
A bidding up of prices probably will
be witnessed during the next few days.
So far as foreign markets are con-
cerned, they will not be a factor. Selling
for London account ceased before the
noon hour and as the 26th day of De-
cember. boxing day is a holiday in
London, no pressure need be expected
from foreign markets.
Whatever defects may develop In the
new currency bill, financiers are relieved
that the measure Is no longer under dis
Cussion. Contraction in business will
probably continue with the result of
further discharge in employees and the
piling up OF, idle capital in the banks.
This will assist in the readjustment OF!
bank to new conditions.
Ultimately the result is expected TO be
expansion of credit that will facilitate
and induce speculation.
The immediate effect on sentiment will
be the cancellation OF selling orders. This |
with a combination of the effort of shorts |
to cover should logically result in a
further up-bidding of prices which may |
be followed by renewal OF speculation |
for q fresh advance
Merry Christmas was the tone of the
closing prices ..
T. Washington stock Exchange.
Little business was transacted on the
stock, exchange yesterday
$500 Capital Traction sold at lOSt
and a $500 also was disposed of at the
same price.
Two transactions in stock were made.
Sixty-five shares of Washington Railway
and Ele ric~ common were sold at Sc.
Ten shares OF National Ba=k of " u
inEton went at 240 and ten at 2A.
A bio of 30 was made for Mergenthaler.
el9 IL asked. For Washington Gas SS
was bid. 50 S-4 asked.
. williams for Comptroller.
In financial circles yesterday it seemed
to be the general opinion that Assistant
Secretary of the Treasury John Shelton
Williams would be appointed Comptroller
of the Currency. II confirmed in that
capacit-- he also would serve as a mcm-
Der ex oficio of the Federal Reserve
Beard with a salary increase of S,OeO
moro than the office at present pays.
Declaration of Dividends.
The Farmers and Mechanics National
Bank has declared a semi-annual divi-
dend Of 4 Pc: cent. payable January 2.
The American National Bank has de-
clared the quarterly dividend Of per
cent. payable January ..
The semi-annual dividend of 3 per
cent has been declared by the Second
National Bank. payable January 2.
The South's Prosperity.
Il will be the most disappointed man
in the United States if Georgia and the
other Southeastern States do not re-
alize the banner business year in 1914"
said B. F. Duer, vice president and gen.
eraI manager of the Georgia and Florida
yesterday.
Bumper crops this year have laid the
foundation upon which business will build
in 1914" continued Mr.. Duer, land al
ready business men and farmers are plan
ming for next year. From crops alone
more than 500, ,OoO, 900 have been added to
the wealth of Georgia, and nearby States
have Jared equally we'll"
Report OF D., L. c W.
The Delaware, Lackawanna and West
ern Railroad Company reports for the
year ended October 81, 1913, as follows:
.raa