The Washington herald., 1913-11-01

until an assessment has been made on
the empIoye, and in no case until June
/ Of each year.
| Not only Is there confusion among
those to whom these payments are to be
made, but the corporations and fiscal
| agents making distributions are in a
state Of complete disorder over the mat
ter.
! blue Atmosphere.
The atmosphere of Wall Street is de-
cidedly blue, and yet there was no Sc
rious recessions in prices The attitude
of the government in the regulation of
great aggregations of capital is recog-
nized as a most important factor and
the steady Tightening of the money mar
ket is a secondary influence, which for
the time being may be given preference.
Il is supposed that the chief of the
Bureau of Corporations is authorized to
speak for the President when he tells
of the intentions OF the Executive, al
though Wall Street doesn't believe every
thing that il hears until the stamp of
authenticity appears.
There is a recession of business; it is
going on gradually, and the same condi-
tions are noted as prevailing in Germany
and England. How far it will go re-
mains to be seen-if it continues at the
present rate II is quite within the pos
sibilities that the administration will
hesitate to further imperil the dearly
beloved prosperity by further court pros
ecutions of great corporations 1t is not
the sentiment of the wage worker; II Is
not a question, as the Bureau of Cor
porations head seems to think, of manu-
featuring, producing cheaply, for the big
corporations can undersell to a finish
any individual or more modest effort d.
rected for its share of any line of trade.
There was considerable selling, but
nothing urgent. When cali money ad-
vanced from to 10 per cent, stocks
weakened: when it fell from 10 to Z, the
list, showed a little recovery.
Railroad earnings are not satisfactory
and the stories OF price cutting here and
there in the industrials did not help
their stocks
On the whole, the day was not espe-
cially profitable for either shorts or
those who went long. The final recovery
from about a point loss on the leaders
brought them back to within one-Quarter
brought them back to within kah point
of Thursdays closings.
This was the loss in the leaders. Mexi-
can Petroleum was very weak, and
dropped from 81 to 81 on persistent SELL
ing. Copper and Smelling lost "a, as did
Can. The closing was barely steady.
Local Securities.
Yesterdays trading on the local ex-
change was very limited. In all thirty
four shares of Capital Traction sold at
ia 3-Ethree of District Bank at 145-
that's all in stocks.
Traction IS a shade easier, 107 rs; Gas
IS, 1O61-L
The chief broker in the shares of the
Uos D,E
mon stock has been gradually reducing
his bids and as consistently offering the
stock at slightly lower figures, but the
market otherwise is not following his
lead. No stock Is being sold; none has
been offered for several days. Holders
are firm Of the opinion that the shares
will sell higher.
Western Maryland.
The Western Maryland Railway failed
to earn its fixed charges in the fiscal year
ended June 80 last by $41I. .972, according
to the annual report of the company,
which has just been made public. This
deficit compares with surplus Of s647, 20
reported in the preceding fiscal year.
Early in the year the company sus-
pended dividends on its S1O.0oo0o0 pre-
ferred stock. This stock was issued in
exchange for a similar amount Of second
in the plan OF reorganization which re-
stored the property OF the stockholders
following the recelvership.
Total operating revenues for the year
ended June 60. 1918, were S,6S2 69, an
increase OF SSSs,s2l. while net operating
revenues were sl,613,5S2, a decrease of
S746,245 The company's total net revenue
was $l.6l5,s73, and the loss in comparison
with the year previous was S747, ,335. The
roads operating income showed a loss of
SS5, ,535. being $,a5,S7S. Gross income of
81, 1,525, 49S showed a decrease of $SSS, ,2S6 and
the deficit was S1,S49.SeS, an increase of
81, ,S73, 766- The net corporate deficit at the
end of the year was $E4,972r an increase
of $1,o62, ,2s3.