The Washington herald., 1913-11-20

ing fiscal year I9li-I2, reported surplus to
profit and loss would have been wiped
out in case of New York Central and
Eastern Illinois. while deficits already re-
ported by New Haven, Wabash and Pere
Marquette would have been increased by
so much. Results of the last fiscal year
have left the roads in an even poorer
condition to meet the rise, as result Of
already climbing expenses.
standard Oil Dividends.
Stockholders OF the Standard Oil COM
ranies will be considerably enriched by
the dividend declarations made on Mon
day.
The Standard Oil Company. of New
Jersey, quarterly dividend of $ share,
calls for the payment Of s., SSS, ,SSS, bring
ing that Company's tctal dividend pay
ments for the year up to 59,003,0S
The announcement OF a s675 a share
extra dividend by the Ohio Oil Company
means that 'Ohio Oil shareholders will
receive $4.O5O.OOO. in addition to the regu-
lar quarterly distribution of $4,000. Ohio
O.s total dividends for 1918 will amount
tC IS, $4,000.
These two dividends bring the total
declaration for Monday up to s14,SSS, ,s3S.
The Ohio OIL Company dividends for
the current quarter are payable Decem-
Der 20 10 stock of record November Is
Books close November 25 and reopen De-
cember 10.
Exchange Election.
BENJAMIN F. Woodruff, of the house
of Lewis johnson & Co., was yesterday |
reelected president OF the Washington
Stock Exchange for the third time, and
without opposition. The other officers |
were likewise honored with reelection, |
Charles ]. Bell, vice president; Allan E. |
Walker. secretary, and James NJ Green, |
treasurer.
w. B. Hibbs and A. X. Paris were |
elected governors, with Messrs. Daniel |
Fraser, w. A. Mearns. G. w. Weller, |
and w. ]. Flather, holdovers, constitute |
the rest Of the board.
Local Securities.
While there was no special activity in
securities a small investment business
was transacted, and prices were COM
paratively steady, although shaded
slightly.
Capital Traction sold at liz 1-2, with
the bid 122; Railway common was easier
at SO; the preferred was offered at 80
with 81 the best bid, just the same as
on Tuesday.
Bank shares sold included East Wash
ington Savings at 1l6 and Continental
Trust at ia
Gas was rather soft at 50 H.
Railway Is brought 80. General de-
mand light, but no pressure to sell
stock.
Steel Orders on.
Not in years has the contraction in
structural steel orders been SO sharp
as during the current month Total
orders for the first two weeks of the
month were less than 25,c00 tons, which
is at the rate of 10000 tons a year,
compared with a normal production of
between 100000 and 2.5o00O0 tons a year.
There is a large amount Of structural
steel business on the books Of certain
steel companies that contractors are un-
able to specify against owing to their
inability to procure funds. The amount
of building in prospect is said to be
lighter than at any time since 1905.
Collection mt the Source.
Even the limited practical experience :
with the new income tax since November {
1 has been suficient to justify" says the
Wall Street Journal. n
''The contention made in these columns, :
when the tariff bill was still in the early =
Etages OF consideration, that the policy of
collection at the source was serious n
error. An enormous burden has been n