The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-07-09
MISUNDERSTANDING Gee COMMERCE

time Institution, for its integrals wer'
both Of age. to suspend even for day
too long to check the effect.
Msking Headway.
Despite the trouble in Pittsburgh. which
many charge to utilities Investments. the
utilities Of the country are making good
headway. Steady gains being reported
by gas. electric light. power. and trac-
ton companies do not appear to be con-
fined to any one section OF the country
but to be well distributed. all companies
| sharing In the prosperity.
Earnings of thirty-eour public utility
corporations for the twelve months ended
May 81, 1913. are now available. These
companies are located in the smaller
cities of the country. not one Of them
serving q community of more than 2o0.0 900
people. and the larger number OF them
| being in places of from $1,000 to 100000
population. All are operating companies
| no holding companies being included, %
that no duplication of earnings is possi-
Bile. They are well distributed over the
country. their properties being located in
| Maine. Massachusetts,. Rhode Island.
Illinois. Indiana. Ohio. Michigan, Wiscon-
| sin. Oregon. Florida. Texas. Missouri.
California. and several other States.
The consolidated reports of the COM
panies for the twelve months period Ii
most impressive in its showing Of in
creases In business. For the twelve
months gross earnings of the thirty-four
companies increased A.Sss.62s. or III per
cent over the twelve months ended May
81. 1872. while net earnings gained $2.599. :
go, or 1854 per cent, and surplus after
charges gained $1.443. Al. or 1876 per cent.
The prosperity of the companies IL
shown by the larger percentage of gross
gains being steadily saved for the net
and surplus earnings.
The consolidated statements of the
months. ended May 81. 1913. compare as
follows:
Gross earnings w si2os,zs $a,5l4.sa a.s,s.s3
Surplus us after charges sso.7ss 7.M.ss i.D.M
Hope It's True.
All Washington hopes the report Is
true that methods of financing the Ar
lington project have been practically ar
ranged for and that work will soon be
resumed.
Every one will welcome unquestionable
signs, will be delighted when an army
of iron workers-begin to erect the tall
structural work. when the masons follow
with the walls and the great project
gives evident signs Of going to COM
pletion.
Every one recognizes the task that Is
Mr.. Towards today, under the discour.
aging events that have happened to OBJ
struct, and victory, should it be his. will
be all the more creditable. There is
comfort in the assurance that the Ar
lington will rise.
bond Offering.
n. W. Halsey & Co.. 40 Wall Street.
New York City, have purchased and are
offering upon a L6 per cent basis. $3.50. 600
City of Schenectady registered per cent
bonds.
These bonds are a legal savings bank
investment in New York State and are
exempt from tax therein.
The progress OF the City OF Science
tady is indicated by the exceptional
growth in population reported, according
to United States Census of 1910. as in
creasing 1898 per cent from 1900 to 1910
Sluggish.
Wall Street showed a decidedly slug
gish disposition yesterday. Business was
based on about $500 shares an hour.
while, after the first hour, II was on
less than a 10000 share average. No one
seemed to care much to trade. London
sold and another s.. o0o.00 gold was taken
for export. There were a few other
happenings. an actual granting Of small
freight increases. a reduction in one in
and, worse than all else, the pros
poets for a strike are serious.
Under the circumstances the cyclone
cellar is safe place. There wasn't
much interest shown. customers are few
and far between. and the encouragement
is found in the fact that the bears, with
their own way, cannot make
much headway- They tried and succeed
ed in a restricted measure Liquidation |
of the forced character seems to be !
ended. and noting that their efforts no
longer bring out the actual stock. bears
are not inclined to take the liberties they |
did when stocks came out after every
brush of the bears.
A SIOoo.0oo increase in wages is the |
nub of the demands of the employees of
Eastern railroads. and if they
get it their Western brethren will have |
to have as good or better.
Balkan wars. labor trouble. &C., must |
cease before anything favorable can be |
looked for.
Trading was chiefly in the oId-time
eaders. Union Pacific lost "a, Reading |
g. Steel Is
Here and there haIf-point losses were
but most of the stocks about
ASAo ehcii o"h VI sicidSu q AtdS-
ion.
Exceptions were found in Great North
ern Ore, which recovered l 1-2 points of
Mondays loss; in Great Northern, L.
higher, and in Lorillard Tobacco. which
ose points New Haven was a point |
If.
Yields 6N Per Cent.
Whelan, Duer & Lanahan. bankers of
his city and Baltimore, are offering at
1-2 and interest. yielding 6 is per cent.
first and refunding five year per cent
,old bonds Of the Louisville CKy.) Gas
nd Electric Company. bonds are of 500
nd 1900 denominations
Government q ~. /,
There was a sale of five URited States
government 2 per cent bonds at 80. q
wv record price. More than g. 000,0 900
overnment bonds are owned by the
allied Pittsburgh bank. and it was won
cred il the receiver of the bank would
nd it easy to realize on these bonds on
hattened market.
COTTON STATISTICS