The Washington herald., 1914-04-02
STOCK MARKET
HOLDS STRENGTH
Poor Railroad Reports Offset
by Presidents Toll Bill
Victory.
MARCH A POOR MONTH
January Spurt Failed to Keep Up
and Sales Are Small-Capital
Traction Again Down.
BY w. sTEALEY.

The New York Stock Market yesterday
was fmr, but dull.
Steel closed at Tuesdays figure s. rs.
Union, Northern Pacific and Great North
ern were up fractionally. Reading showed
a slight decline.
Missouri Pacific gained nearly two
points. going to q 1-2, on humors that the
Rockefeller interests intend to buy out
the Gould interests at s. A month ago
the stock was being sold Freely on re-
ports that the company was going into
the hands of a receiver.
The market opened active and strong.
General sentiment was improved by the
Presidents victory or the toll bill and
prospects of an early rate case decision
by the Interstate Commerce Commission.
The result of the tolls fight is highly
pleasing to business men indicating as 1t
does that the President is in control Of
Congress and can prevent the passage of
bills introduced for home consumption.
Poor reports from the New York Gen.
trail and the Pennsylvania lines were de-
terrent factors.
Pennsy's Gross Falls.
The Pennsylvania systems operating
revenue in February totaled s2+Slo'2os
decrease of S3,61l, ,164 and operating in
some. Ss45. .26s, a decrease of s2,51012s, COM
pared with February 1913. Lines east
supplied 81 219 93s of the loss in revenues,
and 81 S50590 of that in income. Rev
enues for eight months aggregate 81. .S99,-
$50. a decrease of s6.567.SS2 and income.
ks. sos. .7o1, a decrease of S3,9F7, ,SS7. Operat-
ing expenses for the same period were
AS 0S9 95S. reduction of S2,6l9.945.
New York Central February earnings
decreased $7.oss.oO0
Local stock Market.
Trading on the Washington Stock Ex-
change yesterday was in larger volume
than usual.
Fifty-five shares of Capital Traction
sold 101. Small lots of the stock went
EOl 1-2alm rs. The fact that stockholders
yesterday received checks for dividends
was pointed to by Capital Traction
officials as an answer to reports
Of a cut in dividend. The question
does not come up until the next quarter.
The situation On the exchange is caus-
ing considerable interest, the principal
factor being the extent Congress would
be guided by the municipal ownership
views of the utilities commission. In
some quarters it is felt that Congress
would be willing to try the scheme on
the District inasmuch as failure would
not be reflected in members respective
districts. However. with Congress ready
to act the legal problems in the way
would take several years to fight out
seemingly is being given exaggerated i'm
portance at this time.
Railway preferred yesterday sold at 81,
the common 81 1-2aS 5-S
Capital Traction IS sold los IA, and
Potomac Consolidated IS at 100
Coast Bond Issue.
Stockholders nf the Atlantic Coast Line
yesterday ratified action Of the director
ate and ordered issue of 500 900 of
bonds for retirement OF unified bonds due
In 1909 to the amount of $4,000. .Oo0 The
bonds are to be in series, the rate bf in
terest on so, 900, 0eO of series A to be 4l-2
per cent, which is one-haf per cent bet
ter than the rate for the present first
mortgage bonds. The directors will de-
termine the rate Of interest and the life
Of the bonds The announcement was
made that arrangements for money for
improvements had been perfected regard
less of bond issue.
March q Bad Month. |
The year which started of SO brayely |
g. point Of stock market activity Is
egging behind January's transactions
81, ere on scale that ENCOURAGED brokers
20 believe that at last the upturn had
rcne. February showed a sharp falling
~, but March has been the worst Of all |
tai sales on the New York Stock Ex-
IHange last month were only 5Ss2 I53
Eaares, making the smallest total for the
tatrd month in fifteen years. In Janu-
aIv the total was 2s57,0o shares above