The Washington herald., 1914-03-21
RUMOR CAUSES
STOCKS TO gain
Reported Favorable Attitude
of |. c. c. Brings Leaders
Up Over a Point.
W. B. & A. EARNINGS
Electric Line to March ! Did In
creased Business-Locomotiye
Company Cleared.
by w. sTEALEY.

BY w. STEALEn.
Following a dull opening the New YORK
stock market took on h buoyant tone m
the last hour and gains OF over point
We're made in the leaders -
Advances were believed to have peeh
caused by reports of a more favorable
attitude towards the railroads oy tnel
Interstate Commerce Commission Inc
story served to swing the market eh-
actly as a report diametrically' oppositeI
which may come today or tonlo,ioH
gives the bears the whip hand heaoihs'
which would go up on such gooo ne
gained nearly two points on the ruInot,
Urion Pacific gained IL points, S.eei
closed at 65. nearly a point up, ana Cop
Der. closing at 76zi. gained over poihS
A number OF specialties made goou
Gains westinghouse moving up over IA |
while Central Leather continued s'fons'
Local stock Market.
Eour thousand dollars in bonds ana tne
sale of fourteen shares OF STOCK coisu |
tuted the trading on the washington
Stock Exchange yesterday.
Three thousand dollars OF the bonus s
were in Railway As at NJ. one St'V''
Washington Gas IS brought lo''
Ten shares of Mergenthaler sold at
I5I. four Capital Traction at lcs.
W., h. & 4. Earnings.
While the winter months are always
had period for Washington. Baltimore
nd knnanolis Electric Company so far
as earnings are concerned the company
is doing better this year than IN pre-
ccding years in the winter season.
For the two months ended February
g. 1914 the company earned sllO,ieo gross
an increase of $1,000 over the correspond
ing period of the preceding year. Operat-
ing income increased $5,953. net earnings
gross income for the two month s4S,SS,
an increase of 1855 The deductions for
The two months for taxes, interest and
other charges. amounted to s4S.2l6. leaV-
ing a deficit of S.534 as compared with
a deficit of Sl055l for the first two
months of 1918. or decrease in deficit
OF SG.Ol7.
Locomotive Company Cleared.
w. H. Marshall. president of the Ameri-
can Locomotive Company. has sent to
each stockholder of the company the
report of the special committee appoint
cd to investigate the charges against the
management made by Isaac NJ. Cate, a.
large stockholder, of Baltimore. The re-
port is signed by the three members Of
tho committee of inquiry. namely, j. W.
Grigcs. formerly Attorney General OF the
United States: Thomas Thatcher. and
Albert II. wiEEin. The report Is con-
pointed at tho request of the stockholders,
consisting OF William r. Wilcox. formerly
chairman of the New York Public Service.
and Dr. l.. Clarke Scclye. for many years
president of Smith College
The committees report covers forty
printed pages. and answers Mr.. Gates
charges in great detail. John Hevron.
who was retained by the committee as
its expert concluded his preliminary re-
port with the following statement:
lit is only proper to state that after
over three months investigation, during
which time a careful scrutiny OF bids.
bills and correspondence covering the
entire period of the company's existence,
was made. not bit OF corrupt practice
on the part of the company's officials was
found"
Washington Railway and Electric Of
ficials were not inclined to comment on
the bill sent to Congress by the utilities
commission providing for the separation
of the railway and power companies. In
that the present merger of the companies
was made by Congress it is understood
TO be felt by officials of the company that
there is involved a question of contract
which Congress may be SLOW to break.
An official estimate places the loss to
the PENNSYLVANIA Railroad by the snow
storm of March ! at s. O0O, 90 This In
Cludes the destruction of property. the
cost of temporary repairs. the loss of
revenue, the cost of clearing the tracks
Cf snow. and wreckaEe. and extraordinary
operating expenses. The damage TO prop
'rty alone is S00,0oo.
Work on the National Savings and
Trust Compamy's now building at Fiji
tccnth and II streets probably will be
commenced within two weeks.
The contraI, will lie awarded Monday
and there will be no delay in construc-
ton. Work will he started on the New
York avenue side extension. The archi-
tects have arranged to complete this be-
fore the present building is razcd. In
this way il is planned that patrons will
be subjected to a minimum of incon-
venienCe.
Benjamin Woodruff and A Robert FL
more, of Lewis johnson & Co, left last
night with a number of New York. Phil
adelphia. and Baltimore bankers who are
on their way TO Spartansburg, s. c., to
inspect the properties of the South Caro-
lima Light. Power and Railway Company.
The party is being conducted by A. B.
Leach & Co, of New York.
President Frank A. Vanderlip. of the
Capital City Bank of New York, passed
through Washington yesterday en- route
home from Florida.
Southern Railway earnings in second
week of March decreased 1886, from
July !, increase, $500 CSC.