The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-04-16
PRICES ARE firm
DESPITE mexico
War News Has Little Effect
on Stock Market-Narrow
Range Trading.
w., B. A. REPORT ISSUED
Electric Line Shows March Loss.
DR.. Ralph Jenkins with the
Federal National.
w., B. A. REPORT ISSUED
By w. sTEALEY.


- closed firm.
Regardless Of the sending of the feet
to Mexico and the possibility OF actual
hostiIities only small losses were record
ed
Steel went down one-half. but closed
at 5SI-4. Tuesdays price. Mexican Pc
troleum was under heavy pressure. be-
ing driven to 6OI-2. The stock rallied.
however. to g..
Copper. Reading. Union, Northern Pa
cific, and Canadian Pacific showed frac-
tional losses. telegraph closed 10 IL,
one OF :hp few stocks to show a gain.
At The opening the market was under
considerable pressure, but in spite OF
good-sized declines in some stocks, there
was evidence Of demand both for sup
nor.ing purposes and for short covering,
and this demand WAS sufficient 10 check
.he decline Before the end OF the nrst
hour the market showed some improve
5nent rallying moderately. Some OF the
speciaIties showed pronounced strength,
among which Alaska Gold was con-
spicuous 1t was argued that THIS ar
rangement would put too much ahead OF
the common stock to make the prospect
of resuming dividends very encouraging.
There was heavy selling Of Southern
Pacific convertibIes, when issued, but the
demand for them seemed TO be good
around lOOl4 Another noticeable feature
of the bond market was an improving
tendency in Rhode Island As
In the afternoon the market was ralded
with particular pressure on Union, OUT
the general list held well and traders
were inclined to cover
Local stock Market.
Tho WASHINGTON Stock Exchange had
an unusually dull day.
There were no bond sales and a market
was found for only twenty-five shares OF
stock Fifteen shares of Capital IFac-
ton brought 100 -. One hundred was
bid at close, l0l asked.
Federal National Bank stock sold ten
shares at l5J.
W.. r. q A. March Report.
Washington. Baltimore and Annapolis
Electric Railway Company. for March
1914 was up against difficult PROPOSE
ton in attempting TO make the earnings
of a normal month equal those OF
month in which earnings were more imam
$4,000 above normal.
As a result the showing for March.
1914. appears far from good when COM
pared with March, 1913 In March of last
year the inauguration ceremonies at
Washington sweIled the receipts OF the
road far above normal Gross earnings
for March, 1914. were $32.52O below those
for March, 1913. while net earnings de-
creased So 5Ss and, whereas in March
1913. there was surplus after charges OF
SEQ 1874. the company failed in March. 1874
10 earn its fixed charges by sos
The same effect is shown on the earn
ings for the first quarter of the year
Gross earnings for the first three months
9Tn for he
first quarter of 1913. while net earnings
decreased s24. So. For the first quarter of
1913 there was a surplus after charges of
Sf964O, while for the first quarter of 1914
there was a deficit in fixed charges OF
$3.50.
1T. T. Great Resources.
In an advertisement in magazines the
American Telephone and Telegraph Com
pany gives statistics concerning its equip
ment which are astounding. Some of the
important items follow
Telephone and telegraph poles: L, $4,000
worth $4,000 600. and sufficient to build q
stockade around the State of California
Wire: l.. 5000 miles, worth $lOo,oO0.0oO.
and long enough to go around the earth
81 times In the wire is 5S2,OO00Oo pounds
of copper. worth $SsOOO.OoO.
Lead and tin: Enough to fill $500 coal
cars or $500 600 pounds, and worth S37.
VO0OOO
Conduits: Long enough to go through
the earth five times, or 225,77S,OoO feet.
These are worth S9O.OOO,OOo.
Telephone Instruments: II stood side by
side these would fence in Lake Erie.
10000 Of them. costing $40. 10000.
SWitchboards: 5000 of them, which, il
placed end TO end. would reach thirty
six miles.
The buildings owned by the company
would house city Of 10000 people, the
structures numbering over 1900 and cost
ing, unfurnished and without the land
occupied by them. S4I.VrOCO0
The company employs $4,000 people in
the Bell system. This equals the entire
population of the State of Wyoming
Views on Steel Trade.
In the last ten days three of the lead
ing authorities on iron and steel have
given their views on the present condi- |
ton and prospects of the steel industry |
OF these, John A. Topping, chairman of
the board of directors of the Republic |
Iron and Steel Company. takes an op- |
timistic view. while Charles NJ. Schwab, |
head of the Bethlehem Steel Corporation,
and E A S. Clarke. president of the !
Lackawanna Steel Company express |
themselves in the opposite vein.
Mr.. Topping, while admitting that the |
steel business is slow at present. says |
that il is not as bad as painted. He looks !
for resumption in buying M the near !
future largely on account of the low
level of stocks of steel throughout the |
country The freight rate increase If |
granted he says will give impetus in this |
direction.
Figures compiled by Lehigh Valley |
show general repairs per passenger car
have increased in fifteen years from $50
TO 1901. on freight cars from 81 to SO !
and upkeep Of locomotives per mile from |
4 cents TO 10 cents Maintenance of way |
per mile OF road has increased from |
s1.474 to 1854.
The Southern Railway Company has |
sold to Ladenburg, Thalmann G. Co |
100000 series "a general mortgage and |
development per cent bonds. dated April |
iyc6. and due April /, 1856. The bonds have
practically all been sold, and the unsoId |
balance is being offered at the market |
approximately 741-2 or 51-2 per sent |
basis
DR.. Randolph Jenkins yesterday was
elected a member of the board of direc- /
tors OF the Federal National Bank
Louisville and Nashville first week. of
April, increase, $500; increase from July
/ A.liaSSS