The Washington herald., 1914-04-19
STOCK MARKET
Dull and OFF
New York Prices Continue to
Decline, with Copper an
Exception.
LOCAL TRADING ACTIVE
Riggs Bank Stock Sold-Devereux
LOCAL TRADING ACTIVE
Riggs Bank Stock Sold-Devereux
Names Nominating Committee.
President Galhher Returns.
Ry w. STEALEY.

APPREHENSION that the government Will
be forced to intervene in Mexico and
that such action may result in a war with
that country has been the principal cause
of the heavy liquidation and speculative
selling movement in the stock market the
past week.
The bull support which Aad been in
evidence here in the general list up TO
few days prior to the Easter holidays,
was then withdrawn on the develop
ments in the Mexican crisis and it has
since been a hQuidating market with
most of the professional trading element
going over to the bear side.
Most Of the best stocks on the list are
now back to the lowest levels reached
since the previous depression early in
January,
Further declines occurred yesterday
Copper only showing firmness. Steel.
closing ISIS. Reading 1915, Union ISIS
and Canadian Pacific 1895. All were OF.
Missouri Pacific and Lehigh Valley, both
Of which stocks slumped six points Fri
day, made gains Of over a point
The weekly actual bank statement
showed the following changes:
Surplus, increase, $2,94554O; loans, in
crease, SIS, IS, 900; Specie, increase, S.
el.OO0; legals, increase. 81. .SS2, 600; net de-
posits, increase, s26, 6S1, 600; circulation. in
crease, $4,000; surplus reserves, S1,s7S,-
900
Local stock Market.
For the first time this year there was
trading in Riggs National Bank stock
in the Washington Stock Exchange.
Twenty shares were sold, 55Oa555. The
rate of dividend is 26 per cent, payable
April and October.
The market was more active than
usual In the bond list our Sl,0O0 City
and Suburban 5s brought 1ol 3-4alO2.
Capital Traction IS brought 107 l-2, and
Potomac Electric. first. SIS lO6.
Capital Traction sold l0I, Railway
preferred, S.
Sales of bonds on the local stock eX-
change since December 81 have aggre-
gated SIOS,1o0 In that time 1856 shares
Of stock have been brought. Railway
IS and Railway preferred have formed
the main basis of the trading
Pennsy's Freight Traffic.
Despite the reports of n material
falling off in business. freight traffic
remains good over the Pennsylvania
Railroad. During the first fifteen days
OF April $1,000 cars were moved over
the middle division. so records COM
piled here show. This is 1000 more
cars than were handled during the first
fifteen days of April. 1913, and 1000
more than for the same period in 1872. |
An average of 5,40O cars daily is be- !
ing moved, which is regarded as pretty |
fair business for this time of the year. |
The threat Of the coal operators to
close their mines until the new wage
scale was signed was virtually carried /
out, and a result there has been a
decrease in coal traffic. but other /
freight shipments maintain high av-'
erage.
The Treasury Department has re,
ceived resolutions passed by the New
Jersey State Bankers Association pro-
testing against the assignment of New .
Jersey to the Philadelphia regional re-
serve district by the Federal reserve
organization committee, and asking |
that all counties north OF Monmouth !
and Mercer be attached to the New
York district. The resolution, will be
as ineffective as the Baltimore protest
A statement of commercial and COM
pany coal shipments from mines on
Norfolk and Western and other rail-
roads for the month of March, 1914, is
as follows: