The Washington herald., 1914-03-24
STOCK MARKET
GAINS RECORDED
Wall Street Has Unusually
Good Day, Entire List
Advances.
ROADS OF SOUTH REPORT
B. & o. Loss Again Shown-Franklin
National Subscription Pay
ments Friday.
By w. STEALEY.

By w. sTEALEY.
closed strong. Gains were made in the
entire list.
Northern Pacific closed at 11s "a. an ad-
vance Of 31- points over Saturday.
Romors that the road would continue to
maintain the per cent dividend. Can
adian Pacific closed at 3e IS, nearly Q
points I'd.
Steel, closing at IS, Copper at 1884
Reading at 166 7-s gained almost q point.
The bear element was a large seller
of stocks during the first half hour, but
that pressure was more than counter
acted by the better class of buying that
developed When the retreat of the
heavy short interest began. the oversold
and liquidated condition of the general
list became SO apparent that the sharp
est buying movement and the best ad-
vance the market has had FOR a number
OF weeks past occurred.
Although prices at present are the high
est for some weeks, the possibilities of a
much broader and more extensive buying
movement with a sharper rise in prices
Is generally recognized if a favorable de-
cision on the railroad rate question be-
comes more Of probability in the near
future.
Local Stock Market.
Washington Railway and Electric
stock again featured on the Washing
ton stock Exchange yesterday.
Six hundred and fifty shares of the
common stock sold at ssh. Bids of
SSk were made for additional shares,
which were held at 80. For the pre-
ferred 81 was bid, IS asked.
Twenty shares of National Metro
politan Bank stock sold at 200, and
one share of Washington Gas at s3k.
In the bond list one $500 Columbia
Railway sold at 100; one $1,000 Po-
tomac Electric consolidated 5 at 1901
and three $500 Capital Traction SIS at
1851.
Franklin National Payment.
Announcement was made by the Or
Eanizers of the Franklin National Bank
Yesterday that the capital stock of
S2S0,000 had been subscribed fully at sl25
share. 500 to capital, SIS to surplus
The first payment of 80 per cent is to
be made by subscribers on or before
March q, next Friday. Organization pa
pers will be approved by the Comptroller
OF the Currency next week.
The directorate will include representa-
tive business men of the city and the
organizers regard the prospects for sue
cess as excellent
Good Showing Made.
Reports of the four big Southern rail-
reads for the seven months ended jan
Gary 81 show striking results in COM
parison with the Eastern and Western
lines.
The Seaboard Air Line seems especially
favored, its gain in gross earning being
s652, 600. or Se0S a mile
Atlantic Coast Line shows the smallest
increase, with total gain of $4,000, or
only S2 per mile of road operated. Louis
vile & Nashvilles gain was S. 426, 600, or
S2SS per mile; and the Southern Railways
sl,202.00O or S171 per mile operated
Relatively, the Seaboard Air Line ap-
pears to have received more benefit from
its increased gross than did the other
lines; but on analysis this appears to
have been a matter of policy, for the
other lines chose to eXpend their increased
gross largely in heavier maintenance,
where Seaboard increased these expendi- |
lures only TO a slight degree, and in fact
l per cent of gross less for
these purposes in the current year than |
it did in the corresponding period of last
year.
On actual expenditures for property
Upkeep. the SeabOard shows the small |
est proportion Of the four lines. This |
proportion is so much lower as to be |
marked The Seaboard expended only |
w." B'A 1tliA VI STOSS revenues IN the |
departments. The Coast |
Line expended S0.3 per cent, the Louis
vile and Nashville 35.4 per cent, and |
the Southern 29.3 per cent Concur
rently, the Seaboard reports the high
est basis of carrying costs. Its trans
portation expenses for the seven |
months represented 36.7 per cent of
gross, while similar expenses on the |
Coast Line were 356 per cent, |
on the Louisville and Nashville 33.S
per cent. and on the Southern 34.4 per
cent. Comparatively. the Seaboard |
kept better control of these expendi-
lures than the other roads, with the
exception of the Coast Line.
b. &c o. Losses.
Quite different picture is presented
by the Baltimore and Ohio Railroad,
the statement of which for the eight
months ended February IS yesterday
was issued.
A loss Of more than $4,000, 900 in net
operating revenue is shown. The re-
port in detail is as follows:
1914 1913