The Washington herald., 1914-04-26
FALLING PRICES
! ON WALL Street
Leaders Lose Fractions, but
Mexican Issues Again
in Slump.
WAR INSURANCE RATES
New York Life Gives Soldiers and
Sailors $1,000 Limit-Silver
Market Considered.
WAR INSURANCE RATES
BY w. STEALEY.

The New York stock market yesterday
continued it's downward course on ac-
count of the war situation ana corre-
spending foreign selling
The loss OF the last week in Canadian
Pacific was checked. the stock closing at
1914 a rain of two points over Friday.
American Can also gained, closing at ..
Steel. Reading, and Union only lost
fractions.
Mexican Petroleum, whose property is
near TampicO. was a loser to the extent
Of three points. Much Of the interest OF
the market is concentrated in the STOCK
The assurance that it can be guarded by
the American forces would cause sub
stantial rise On the other hand is the
fear of COMPLETE destruction by the MeXi-
cans.
There was a considerable volume OF
activity at the opening. and prices were
firm with a tendency to improve at the
end Of a few minutes; this Improvement
being caused by a reversal Of London's
attitude, which bought stock in the
early dealing.
Canadian Pacific and New Haven.
which were the weak features at Fridays
close, made the largest overnight gains
showing in the list. These gains were
not maintained, selling orders came in
from all quarters, and by II o'clock
prices were again breaking badly.
London reversed its attitude and be-
? gan selling, and for a while the market
was very weak and looked almost de-
moraIized This pressure did not last
very long, and in the final dealings,
prices once more rallied, and at the
close the tone was fairly firm.
The copper stocks were very weak.
American Tobacco broke ten points
The bank statement appearing in an
Is N
Local stock Market.
Further sales of Riggs National Bank
stock occurred on the Washington Stock
Exchange yesterday, fifteen shares going
II $40.
MEXICAN news figured on local change
BY a bid Of 19 l-2 for Greene-Cananea. a
drop OF seven points. There were no
sales
The principal trading was in Washing
:on Gas. -eighty-four shares selling at
4 I-SaSl SIS.
Bond sales included one 81 600 Columbia
Gas and Electric at 20 and a Potomac
Electric Consolidated ) at 80 "a.
Wur and Insurance.
Agents of the New York Life Insur-
ance Company have received circulars
setting forth special war rules" govern
ing the issuance of new policies to Off
Of the militia, national guard, or naval
-eserve; officers of the army or navy.
under the rules issued. are to be treated
n accordance with the present occupa-
lion pamphlet covering time of war
and the amount of risk is limited 70
;sO0o
Members OF the State militia. national
guard. or naval reserve, or those intend
ing to join, also are limited to 5000 in
that in case of death while engaged
outside OF the United States during the
first year Of the pOlicys life, only Lilo
-of the policy shall be paid. unless the
insured pays n special premium for one
year equal to One-fifth the face value
Of the policy. No restrictions is i'm
posed after one year nor is there any
restriction as to service within the
United States. Old policy holders are
also exempt from al! restrictions.
Bankers are somewhat concerned over
The possible effect the Mexican situation
might have on the silver market 1t is
pointed out that Mexico supplied a third
IF the worlds supply of silver. and that
military operations by the United States
It Vera Cruz would effect the market
more or less. for important consignments
of silver are made via Vera Cruz. The
shipments might be suspended for a con-
siderable period in the event of hos
Utilities.
In round numbers exports of cotton
since September l total 100000 bales,
Tor which the country has been given an
10000
This compares very favorably with
the movement year ago when the ex-
ports were about half million bales less
and were valued at S45OOO0.OOO
The gain for the current crop wear of
one-third over last season is one of the
sustaining elements in the so-caIIed bal
ance Of trade statement.
Cost TO the Lehigh Valley of its most
recent physical valuation under W. ].
Whgus. Of New York. amounted to some
what over 500 per mile. All expenses I'd
10 the end of March were S126 900, and
other costs not audited at that time will
bring the total to approximately $4,000
On this basis the valuation work of the
eountry's railroads. numbering just under
$1,000 miles, would be over S25, 100000.
City of Baltimore will receive bids until
noon May for 5000. 600 registered 4 Der
cent stock. The offering is divided into
aRo,0OO new sewage Improvement loan.
redeemable August l. 1861: 81, 500 900 water
loan, redeemable December /, 1858: s.. CO.,
200 paving loan, redeemable August 1
1851: $4,000 annex improvement loan, due
the same date, and $4,000 conduit loan,
1ue August !, 1852
The Patterson Brothers Tobacco Com
pany. Incorporated, of Richmond. has
obtained permission from the State Cor
poration Commission to increase its cap
ital from s25OOO0 to $500, OOO.
third week of April increased s133 2S4
The increase from July / is Sl,3I9,504
NEW YORK PRODIIcE