The Washington herald., 1913-12-14
BEARISH TRADERS
MAINTAIN Hold
Market Fails to Recover from
Losses Sustained During
Middle Of Week.
MR.. TAFT Is OPTIMISTIC
Finaneier Expects Improvement-De-
post Receipt in Local Merger
Case Now Satisfactory.
MIR. TAFT IS OPTIMISTIC

Wide variations Yesterday occurred In
the New York stock market in the half
DAY which closed the present week.
After showing pronounced weakness at
times, a stronger tone developed and
some advances were in order toward the
close, when the majority OF active issues
showed some net gain.
New Haven, although in better de-
mand, continued to exert q depressing
influence on many issues. especially
American Telephone, New York Central,
and Pennsylvania, which were affected
partly by liquidation and partly by a.
belief that the suspension OF the New
Haven dividend foreshadoHed uncertainty
in regard to the maintenance of dividend
rates on the stock Of other Eastern roads.
New Haven itself made some gain,
and was in better demand than at any
previous time during the past few days
A new low record was established in
American Telephone, which sold under
lib for the first time in its history, and
New York Central, which declined about
one point, sold at the lowest point
touched in several years. American
Telephone in the late trading, recovered |
part Of its loss.
Copper stocks shared with the rest
of tine list at intervals of weakness.
DCPpAAt AAcCcAPN AkTcco Spohs
A meeting Of the clearing house was
held yesterday afternoon and a form /
of receipt satisfactory to the clearing /
house and the Secretary of the Treasury
was adopted relative to the recent de-
post of 100000 with the clearing house
banks by the Secretary, which money
was in turn deposited by the various
banks to their credit in the Munsey Trust |
Company.
The clearing house has recommended
to the boards of directors Of the several
banks concerned the acceptance of this
form of receipt and it will be acted upon
at meetings of boards which will be held
during the course of the week.
Local Stock Exchange.
Five per cent bonds of the Potomac
Consolidated showed a decrease on the
local stock exchange yesterday. One
1900 bond was sold at IS 81 three at
IS 5-S, and one ut 9S1-2. After call three
went at IS 1-2. One $1,000 c. & P. Tele- ]
phone brought 103. One 81, 900 Washington
Railway and Electric brought 80.
One hundred and fifty shares of WASH
mgton Railway and Electric common j
were disposed of. The first went at 81,
and the last lot at S. 1-2. After call eleven l
shares of the preferred went at STA
Six shares of Washington Gas were
sold at 81; five shares of Mergenthaler
at 21I.
The only trading in bank stock was I
confined to the Columbia National, ten '
shares of which went at go
For Capital Traction ITO was bid; 112 IL $
asked.
Mr.. TAFT nm OptimIst.
Mr.. ]. Selwin TAFT, president of the
and Southern Bank, takes an r
optimistic view of the financial situa- 1
ton.
After the passage of the currency I
measure I look forward to an era of l
said he yesterday.
Under the new act the small banks
throughout the country will be able to
obtain money when they need it. and
t will be of the greatest help to them"
Mileage Extension Privilege.
An extension Of the privilege allowing
Pennsylvania Railroad mileage coupons I
10 be exchanged for tickets on an over y
night passage will go into effect tomor- =
row.
This plan, which was first tried in Pitts \
1urgh, November /, eliminates the con- ]
'usion arising from the passenger being J
obliged to surrender his mileage book =
It night and the covery of the same n
It the end of the journey.
The privilege is to be extended to Wash
ngton, baltimore, Wilmington. Williams
bort. Erie. Oil City. Sunbury. Tyrone.
Tohnstown, Greensburg, wilkesbarre
Buffalo, Elmira, and At
antic City.
baltimore Market Weak. In
The short session of the Baltimore :,
stock Exchange yesterday was marked
" more or less weakness. Cotton Duck
S were again under pressure, and the
quotation declined to s. L. or ga of a
,oint under the final quotation yesterday.
United Railways common was freely Of o
cred at %. and more than 700 shares <
hanged hands at that price. p
Baltimore Bank CIearinEs.
Baltimore bank clearings for the week -
to SIS, s45,956, against SlS, 99l, 21s Dc
or the corresponding week a year ago, ~
decrease of $5,05,2d.
LincoIn's semi-annual Dividend. 81
The Lincoln National Bank viii pay
he regular semi-annual dividend of -
er cent, December 81.
W. F. Thyson has been elected
OF the First National Fire In
urance Company.
District Financiern to Meet. =.