The Washington herald., 1914-06-10
STOCK MARKET
remains Firm
Hope of Early Rate Advance
Sustaining Feature in Con-
tinued Narrow Trading.
VA. CERTIFICATES DOWN
West Virginia Debt Case Postpone
VA. CERTIFICATES DOWN
West Virginia Debt Case Postpone
ment Causes Twelve-point Loss.
Merchants Transfer Elects.
by w. STEALEY.

Leading stocks gained on tne New
York Market yesterday.
Bulls were disappointed over the fall
ure of the market to respond more fav-
orably to the Supreme Courts shrew-
port decision as well as the crop report.
However, anything that is not decline
these days is hailed with some degree
of cheer There is believed to be a
smaller proportion of speculation par
ticipation in the market than for some
time. The big operators are said to be
out pending the railroad rate decision.
Steel, closing at s. 1-2; Reading, 16S SIS;
Union, 156 Is; and Canadian & Pacific,
195 3-4, all showed minor gains.
American Can was strong on prospects
of a big tomato crop in Maryland, Della
ware and Virginia.
The market opened strong and ad-
vanced during the first hour throughout.
The advance was leisurely. and did not
give evidence of much enthusiasm. Dur
ing the second hour enough stocks were
supplied to check the advance and to
cause a moderate reaction. the result
being that a part Of the early advance
was lost. although stocks as whole
ranged fractionally above last night $
close The bulls were rather disappoint-
ed at the action of the market in view
of the Importance of the news, as both
the crop report and the Shreveport de-
cision were considered strongly bullish.
Undoubtedly the main restraining fac
tor continues to be the uncertainty about
the freight rate decision. Further heavy
engagements of gold for export by to-
days steamers failed to affect either the
money or the exchange market, S,ooG001
going yesterday, and S5.OO0,o00 engaged
for today.
The list in general was firm.
On comparatively few transactions
Baldwin Locomotive sold up to 49, COM
pared with IS IA at the close on Mon
day, but the only explanation for the
rise was that the stock had heretofore
Jagged behind the general list
Local stock Exchange.
The selling of 5000 of Potomac Electric
Consolidated IS was the feature of the
local market yesterday. The bonds
brought 80 3-4. Sales for the year in
these bonds now amount to s2S7,ooo, being
exceeded only by Railway As.
One $1,000 Washington Gas yesterday
sold 10J IA, and a 500 bond of the same
i, company also brought that price. One
500 Railway 4 brought So IA, and a Trac-
tiCn s. 107 1-2.
, In the stock list that principal trading
was in Traction, $50 shares selling 100 La
100 SIS
Washington Gas, ffty-two shares
brought 75a75 1-2. Mergenthaler brought
H4a214 IA, eleven shares, and Arlington
Fire Insurance. two shares, at 13 IA.
For Railway common 81 1-2 was bid,
Tor preferred So.
Virginia Certificates Break.
There is considerable dissatisfaction
expressed over the further delay ordered
by the United States Supreme Court in
The Virginia-W Virginia debt case.
The certificates broke u 1-2 yesterday.
There has been active bidding for Vir-
Sinia deferred certificates. representing
the portion of the debt of the Old Do
minion, which Commission of that
State. decided West Virginia should pay.
Upward of S1.OO0000 of the certificates
are owned in the District and Maryland.
and holders have been cheered by the
approach of the day when the Supreme
Court of the United States would fix
the rate of interest West Virginia must
pay. the principal already having been
fixed by the court
The claim has been a subject of con-
tention between the States of Virginia
and West Virginia for 40 years. In the
settlement of the Virginia debt of 1871