The Washington herald., 1913-04-05
STOCKS RALLY,
MOVINGFREEL
Good Gains Held Throughout
the List-Beet Sugar and
Rubber Leaders.
W., B. "a. 1913 EARNINGS
Local Stocks Slow; Steady-Greene
Cananea 1912 Report-Bond
Investments.
BY 4. A. FLEMING.

terday. III goes WITHOUT saying tiidt the
market was active and strong from start
to finish; that good interests were buying,
and that the reactionary movement on
profit taking in the last hour cut but
little figure in the profit list.
The same strong interests Kept on &C
cuu1ulating The same skeptical inter-
views were sent out but prices rose just
the same and for better than point ad-
vance in most of the leaders, while there
were a number of larger advances
Beet Sugar rose 1-2 points on the
outlook for the defeat of all attempts
for the admission of sugar free. The
protection of local industries viii crop
out as part of the firm intent of suffi-
cient number of members of the Upper
House to down free sugar. Wool also
rose but il did not hold as did Beet
Sugar.
With the prospects of much trading of
support when il comes to the real strug-
gle in tariff legislation, local ..ter-
ests will prevent as general cutting as
the dominant party is pledged TO.
Moorc-Reid Buying.
The Moore-Reid crowd were accredited
with being very active yesterday and the
shorts became very nervous over the evil
dent firmness, aiding it by covering
freely.
In the last hour there were some re-
cessions, as might have been expected
for the reason that profits were attrac-
tive to trailers and to the public, enter
ing the market recently, in a small way,
but gradually charging buying orders.
Rubber moved up sharply on the per
cent dividend rate and shorts were pun
ished by the SIS gain.
Better earnings by Rock Island and
bull gossip on it's future caused renewed
activity in the shares.
Wall Street was paved with rumors of
a favorable decision in the Minnesota
rate case on Monday. OF course. the
case may be favorably decided on that
day, but any speculation as to either
the decision being handed down or of
its nature is but the chance of one out
Of two. although the street has better
reasons for the. theory that the decision
will be favorable to the railroads, in that
the position has been taken generally
by justices in lower courts. The long
delay in handing down this opinion has
caused many skeptics on the favorable
theory.
Money was off to per cent.
The Ohio damages from foods are be-
ing reduced with each passing day. S.
II. Chaplin asserts that the condition OF
winter wheat is s. per cent and that
means 90. 500.0 900 bushels-that there was
little land to wheat in the flooded area.
Past floods have taught the farmers to
rib corn on high places and to stack
hay in the same way.
Local stocks.
Instead of increasing trade, instead Of
showing reinvestment of April disburse-
ments, the local market shows gradually
diminishing interest. The chief operator
on the buying side in railway issues has
been absent from change for two days.
with Indifferent fluctuations for a week.
The feature of the session was the
sharp gain i'm Mergenthaler to 217, fol-
lowing a corresponding gain in Boston,
the real market for the popular typeset-
ter.
A little Railway common sold at ga
81 IA to 81 ID. and six shares of the
preferred brought 81, with 81 asked
odd lots. in all twenty-one shares, of
Gas brought S. and Lanston sold at S.
There was no question but what every
transaction was strictly investment buy
ing, but there wasn't enough of them
to make the session interesting. Bonds
were held firmer, and Capital Traction
was also held higher.
SOm1lerc1aI director.
Frank p. Harmon, the new director of
the Commercial National Bank, is said
to be largely interested in the coal busi-
ness in West Virginia, AS well as in the
Guggenhem company, of Lynchburg, Va.
Mr.. Harmon resides in Washington,
where he is quite active i'm real estate
operations.
W., Il. & A. 1913 Earnings.
Washington, Baltimore and Annapolis
Electric Railway Company is now paying
the regular dividends on its preferred
stock, a quarterly dividend of / 1-2 per
cent having been paid March 81 The
full per cent was paid in 1912 and this
is the first payment on the 1913 account.
Earnings of the company indicate that
there will be no trouble in maintaining
this dividend, and at the same time &C
cumulating surplus for the common
stock.
The earnings for February, 1918, were
not as good as those of February, 1912,
but there was one day less i'm the month !
March, with the big business incident to
the Inauguration, is expected to more
than make up for the loss i'm February. |
Gross earnings for February. 1913, were
kS.6S2, a decrease of 81, 944 from February,
im2. Net earnings were s1649 a decrease
OI so,Vf-- AS IL TeQulTeS SZ-,t1o 10 pfONlue
for charges for the month. the deficit
ever charges was s6.157, as against a |
surplus OF about $500 III February, 1912. |
For the first two months of the fiscal
year gross earnings were SOS, an in |
crease of IS, 426 over the first two months |
Of 1912. Net earnings were S36, OBS a de- |
crease of $3.50, while the deficit over |
charges for the two months was s10,552, |
as against deficit of about $500 for |
the first two months of 1912.
ne-Cananca. |
Profits of the Greene-Cananea Copper |
Company for 1912 Appropriated s. 200, 0O0 |
Operating costs were about 10 cents a |
pound while fully one-half cent a pound |
additional was charged to construction, |
&c.
Interference with transportation, due
to Mexico's revolutionary troubles, was
the chief factor affecting the higher cost. |
Thus far this year the company's ex-
perience in this respect has been even
more unsatisfactory.
At the moment the Southern Pacific
will not operate single car over its
extension to Cananea. Whatever equip
ment the railroad company had i'm Mex
leo was confiscated by the troops, now
classed as rebels, and the management
has decided to risk no more of it's rolling
es...lr l..1.I rr, Iw~. La 49,