The Washington herald., 1914-04-01
STOCK MARKET
SCORES UPTURN
Reports of |. c. c. Favorable
Attitude Advances
General List.
LOCAL BANK CLEARINGS
March Loses Nearly $400. 600. Com
pared with 1913 Pathological
Traction Again Down.
LOCAL BANK CLEARINGS
By w. sTEALEY.


Constituting the attitude of the Inter
state Commerce Commission as favorabl
a increased rates because of the decision
} expedite hearings, the New forl
tock Market yesterday showed NOR
-ength than II has in two weeks
Reading, in spite OF the bad report is
aed yesterday. gained, closing les Is
STEEL gained nearly a point. closing S rs
MON. Pennsylvania, and Baltimore anC
ohio all gained fractionally.
One of the best features of the mar
ket was the wide range of the advance
practically every stock being affected.
Feeling in London was somewhat i'm
proved and markets, including American
securities, were better at that center
Prices opened generally higher and tht
EsSrket showed a hardening tendency
hich gradually developed into con-
6 derable strength.
Local Stock Market.
Capital Traction was again the feature
"a the Washington Stock EXchage yes
erday. Five shares sold as low as lOs
twenty-five shares at lO4. and three shares
t los. The figures established new low
evels- At the close 100 Ia Was bid for
he stock. 102 was offered. One 1000
Of the company sold lO7 81.
1EOHl SdplNdA
was in narrow range. Fifty-four shares
Of Washington Gas stock sold at s. l-s, and
five shares of Mergenthaler at s15. One
1900 Riggs Realty IS Qong) brought
lO1 -
Powers of Commission.
The charge that the railroads are max
ing inaccurate reports and laying of
men to influence the Interstate Commerce
Commission is hardly worth commenting
upon.
Nowadays with the authority to inves-
dgate the accounts of the railroads at
any and all reasonable times, and with
lhe detailed statement required to be
made to the Interstate Commerce Com
there is little or no such chance
for that tribunal to avoid seeing any
such attempt to doctor statements.
Moreover. and an important thing to re-
member. the Western roads, which are
not in the general application for an ad
vance in rates. are expecting lessening
n net and gross earnings on much the
5sE1z acsie as the Eastern lines. which are
= sfu-sH1E shrinkages.
Readings Poor Report.
pHc 81 the least cheerful February
E-f -eEz IS So far issned was put out
, asIe7z2v by the Reading system. In
snEt month the railways gross revenues
EseiinE0 ST45.OOO. its net s651.OoO The coal
and iIos company's gross lost $i26, 900;
net, $4,000. The net earnings of all COM
oanies for the month were off $S74.OOO,
and the surplus, which amounted to but
235,O00, represented decrease of 1904,
% from the surplus, for last February
'or the eight-month period railway net
arnings have decreased s., ,326, 900 and net
yoal earnings $3354,O00. The net earnings
IF all companies are off Sc, ,6SS, ,00O and the
'urplus of s., 900 shows a decrease Of
s, ,SO1, 200.
Cotton Bill Praised.
No bill designed to regulate cotton ex-
change trading that has been introduced
n Congress since the anti-future aGita-
ton began has had as good a reception
n New York as has been accorded the
Measure fathered by Senator Smith. of
South Carolina, that has just passed the
Senate This bill is said to be the first
md only one that is not regarded as
to the interests of the New
fork Cotton Exchange, and according to
he views expressed by leading members
he measure has the approval of practi-
ally all the traders.
Edward X. Cone, the president of the
Sew York Cotton Exchange, said that
senator Smiths bill did not contain any,
hing that the exchange had not already
determined to do or that il could not do
With perfect ease. He said that the pro-
visions of the bill were in line with the
'ecent movement to reform the exchange
The plan of reorganization of the At
anita. Birmingham and Atlantic Railroad
Company, provides for the formation of a
new company to be known as the
Georgia, Alabama and Western Railroad
Company, and will have the following
capitalization; S27OoO.00O common stock:
'3,2Oo'O0 five per cent non-cumulative
preferred stock; S3,oOo.O0O first and gem
eral mortgage thirty-year gold bonds Ito
De presently issued and $40. 900 equipment
trust notes. H-z-
Washington bank clearings for the
month of March reflect unsatisfactory
business conditions at So, Is, go. 81, a loss
If Sso,1s4sl, compared with March, 1913.
Stockholders of the Norfolk and South
srn here yesterday received the following
information concerning the suspension
)f dividends:
This company has for nearly two years
Dast been constructing and has juIt COM
1leted and put into operation additional
ines of railroad, aggregating about 800
Raleigh and Charlotte, in
he State OF North Carolina.
To provide funds for the acquisition.