The Washington herald., 1913-08-03
STOCK MARKET
Dull and HEAVY
Short Session Develops Sag.
ging Tendency in Even
ing Up Sales.
CORN PRICES ADVANCE
Western Maryland Report Shows I'm
provement in Business Through
out Its Territory.

New York stocks yesterday were dull
and the market listless- There was nc
special feature. The movement OF stock
was somewhat irregular, due to the week
end evening up by professional traders,
but the market as a whole was weak,
and the closing prices fractlonallS lower
than the opening.
There was some improvement at the
end of the first hour Canadian PACING
was strong but the slight upturn seemed
10 be in the nature of a manipulation py
way of taking advantage of the double
holiday ia London. This rise in Canadian
Pacific was offset by marked heaViness
in Southern Pacific. due to the rumor
that an announcement of the price of
certificate might be made tomorrow, and
that the figure would not be above ~.
Union Pacific, Reading. Amalgamated'
and Steel were well taken through the
session, and prices held fairly well. Erie
stocks again found proht-taklng 100
heavy TO maintain prices and were weak:
Considerable buying of the low-prlced
coppers, Southern Railway, and Inter
boro- Metropolitan appeared among the
group of traders who are believed 10 De
making a bull pool in these stocks.
Corn Prices Firm.
Chicago reports showed an advancing
tendency in corn prices, the snort eie-
ment in the pit taking offerings freely
At IL to Ii in advance of Friday $ prices.
The weather reports showed dry weather
i'm the corn belts. and the market near
the close was nervous. due TO the large
accumulation of short sales. the weaker
uT which were covertly trying to cover.
The Wall Street Journal makes the fol-
lowing comment upon the June report
of the Western Maryland Railroad. IN
dicative of improving business conditions
in the territory rved by that system:
Western Maryland Railroad handled
approximately 10000 passengers going TO
the Gettysburg celebration during the
week of July 4, and performed this feat
without serious congestion, train delays
or accidents.
THE companys management Is IN re-
ceipt of many letters of congratulauon
upon the eXcelle mt service renderei 1,
among which are letters from the Penn
sylvania Railroad. the Reading Railroad.
and members of the Interstate CommsrS
Commission.
Enort to Meet Demands.
Every precaution was made by the
Western Maryland management for TAX
ing care of the enormous volume of traf-
fic Track walkers patrolled every mile
of the line, night and day. wreck trains
were held at division terminals with
steam night and day. the entire surgical
and hospital department of the road was
located in convenient quarters. and the
president and chief operating officers es-
tabIished headquarters on the ground in
order to give the work their personal
attention
LAS result of all these preparations
everything moved smoothly and there
was no demand for the emergency equiv
InenJ. which was constantly held in
readiness. The earnings from this extra
traffic will assume large proportions bat
AS yet it has been impossible to figur,
cIt the Western Marylands revenue prc
portion on the thousands OF through
tickets collected. because the Passengers
handled came from every part of the
country between the Pacific Coast am
Maine.
Excluding; these extra passenger re
ceipts, the company in the first thrat
weeks of July increased gross revenues
at an annual rate of 100000. For the
first time, commencing with July l last, |
earnings of the new extension are ir-
cluded in the company's general operat- |
ing results.
III the fiscal year closed with June 81
last. which proved unravorable from |
many operating angles. involving a conf |
plete change of management and prose
cutton of a heavy construction progrlr, |
the officials estimate the company earne +,
about S150.O00 in excess of fixed charges |
The year was one of transition and = |
relopment and il was only with the b.
ginning of the current year that active |
operations commenced over the new Con-
nelisv!lle extension, which made POSSIBLE |
traffic utilization with the New Yo.r |
Central system" |
Government Bonds.
Government securities were firm at !
slightly advanced prices Following Arc |
the quotations from New York:
Bid Asked. !
r. = con = registered; iso....-.... q ss'2 |