The Washington herald., 1914-02-19
STOCK MARKET
gain RECORDED
Advance in Wall Street Due
to Rumors Favorable to the
Freight Rate Increase
LOCAL CHANGE Is DULL
Maryland Steel Company Railroad
Profitable Ene-Weather Helps
Coal and Rubber.
LOCAL CHANGE Is DULL
BY w. srEALEH-

Due 10 the c-edulity OF Wall Street
there WIS q sharp advance on the stock
exchange yesterday. 1t was followed by
a decline, bur 1Ee Sain scr the day or
set the loss and slocfls closed higher than
for several days.
Steel READING Great Northern, West
ern Union. and Copper. all showed frac-
tional advances. Losses for the day I'M
der Tuesday we're exceptional
Tie boom was caused by q report from
mis- city that the President had urged"
the Interstate Commerce Commission TO
expedite the freight rate cases OF
course, the President had done nothing
Of she kind. bur it TOOK the denial an
hour or two to catch up with the story,
and in the meantime the bulls had the.
L. market at their mercy.
II is regarded here as exceedingly I'M
likely that the President would make
any suggestion to the Interstate Com
merce Commission on any question be-
fore it, The commission is a quasi
judicial body, and its findings for or
against the railroads would be supposed
TO be settled in the same manner in
which the Supreme Court passes upon
the cases before it. The President may
be in favor of increased rates. but il so
it is improbable that the commission as
a body or individually, would be told
that fact.
Capital Traction stock showed a gain
in the local market yesterday. forty
shares being sold at .lJ9 81. The bonds
Of the company sold lUS 1-ial0S 3-S to the
extent OF Sl,jCO
There was increased trading in bank
stocks, one share of American SecuritE
and Trust selling at 30O twenty shares
Of District National at l43 H. and twenty
five shares of National Metropolitan at
I90.
Four shares of Lanston sold at Sc 81.
There was no trading in Railway; 81 L.
bid fOT the common and Sc "a for \
the preferred. |
Maryland steel Company.
The fun text Of the Interstate Com |
meTce Commissioners report in the tap |
me case contains some interesting and |
little known facts concerning the indus |
trial railroad connected with the Ma-yl
land Steel Company The narHv- of this |
inc II the Baltimore and Starrows Point |
FairOad The commissions report says
hat although this RAILROAD is not now \
'Wned by the Maryland Steel Company. |
here is almost5 complete identity in own
.Fship. The road is 5.i miles long and
ywns two locomotives, but no other equip
men, II connects the plant md the un-
ufHcoTpOTated town or SparrOws Point,
which il owned almost wholly by the
Maryland Steel Company, with the Penn
svlyania and Baltimore and Ohio rail-
ruads The industrial railroad does not
include the tracks and sdings within the
p!ant itself
The Northern Central conducts pas
scnger service between Baltimore and !
sSparroWs Point. for - per cent of the /
rate from Baltimore and One-third of the
receipts on purely local traffic. In the |
year ending June q 1919. there were car
red 6r0.24S passengers. From 80 per cent
to y per cent of the passenger traffic con-
~ists of employees of the steel company.
sunday excursions are run the year
round carrying 80 to loo people. The
earnings and dividends Of the road have
been relatively very large. In 1902 the
total dividends were Sl02.53O and the next
year S9c. .OOO Since 1902 total OF S445. 900
dividends have been paid The entire in
vestment in the property is $301, ,024 of
which all but SljO.OOO has come out of
earnings.
..It'a an Ill Wind"
The. Coal Trade Journal reports a little
more activity in the retail coal trade as
= result of the recent severe weather
The effect on the wholesale market has
nten less pronounced. though enough new
business has come in to clean up much of
the coal on tracks and insure steady
work at the collieries for the rest pf
this week and perhaps for the remainder
Il the month.
Col Samuel P. Colt president of the
United States Rubber Company, in
speaking of the effect of the recent snow
storm upon rubber footwear business,
sjys:
The severe snowstorm of the past few
laws covering the area of the country
most thickly populated has had marked
effect upon the sales of rubber foot
wear and enables retailers generally to
dispose of their stocks of goods. In
many instances these stocks have not
been sufficient to supply the demand. and
hurried orders have been received BY !,
the United States Rubber Company from
many quarters. Although, coming some ,
what late in the season, it will. never !
theIess have a pronounced beneficial ef- 5
feet upon the volume Of footwear con-
sume6 during the year"
H. S. Stsbler, secretary OF the Balti- j,
more regional bank committee, was az !
he Treasury Department yesterday 70
lie with the organization committee ad-
jitiOnGl arguments in behalf Of the Mary.
land City's claims for bank center. He |
Npressed confidence that Baltimore
would be among the cities named.
Bates Warren. of the Continental
trust. and w. F. Thyson, manager of the
Southern Building, have been elected di-
ectors Of the Commercial Fire Insurance
Company.
President Norment. of the National : :
Bank of Washington, leaves Friday for
tour-o Of California. II
NEW YORK COFFEE.
ZE.gR R-r