The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-01-27
STOCK MARKET
REMAINS Strong
General Gains Made IN Wall
Street and Losses Regis
tered Are Few.
LOCAL CHANGE TRADING
Pennsy Stockholders to Be Asked to
Authorize Mortsage-Di,triet
Banks Make Reports.
LOCAL CHANGE TRADING
By w. sTEALEY.

The New York stock market yesterda,
continued to show pronounced gains.
Steel opened at 81 rs and reached e6 81
closing at G6 IA. Seaboard Air Line, Bal
timore and Ohio. Northern Pacific, New
Haven and Amalgamated Copper mad,
good increases. Pennsylvania gained /;
fraction.
Reading was the only stock to dispIa.
weakness.
Perhaps the opinion was a little to.
general that reaction in prices wa.
overdue Brokers were frankly Iookini
for setback and commission house.
Were well supplied with buying orders
one or two points were below srulins
quotations. This gave a strong under
tone and checked profit taking sales.
Rumors regarding Mexico noatel
throughout the financial district all day
In the main they were optimistic ant
London reported an active and strong
market for National Railways CT Mexico
stocks Union Pacific appears to run
into lot of selling when the price
touches 1e2. Atchison was teady at 200
and n. Y. Central gained a point Oh
short covering.
Southern Railway common and pre-.
ferred were firm on the excellent show.
ing made by December earnings, gross
increased Se65.e10 and net S121G1 Few
able figures. Gross earnings for Atchi-
son for the month of December were the
smallest reported for the month since
1905. decrease in gross amounted to
I--S,0C0 and in net. S105.O0O. For the
third week Of January, Canadian Pacific
lost siOS.0oo gross, and Missouri Pacific
$500 gross. Missouri Kansas and Texas
increased $4,000.
Bond dealings show a perceptible de-
zlthOngh nFinaS oil
tanned especially for the better grades.
Rock Island collateral is developed weak
ness and sold down to 81 l-2. Wabash
refunding IS touched new high point
by crossing 50. Attention has been re-
Gently called to this issue, the bonds
are still considered cheap.
The transfer of a stock exchange seat
at SSS,oO0. an increase of 5000. from
the previous sale is considered a good
indication that the semi-professionaI pub
lie are expected TO reappear in specula-
tive circles. Commission houses report
increasing Inquiries from out of town
customers.
Sentiment is more optimistic than
prices, and this may result in an out
burst of buying that will carry quota
tluns to new high levels.
Local stock Market.
Washington Railway and Electric 4:
was the feature of the trading on the
Washington Stock Exchange yesterday
Twelve thousand dollars of the bonds
were sold al So Twenty shares of the
preferred stock sold at 80
One 500 Washington Gas sold al
lG7lk.
Merganthaler showed increased strength
fifteen shares bringing 215 Later 2l4I.
was bid for the stock, which was held
az ZIG. Three shares of Capital Trac-
ton brought ll4L. Later Ia was bid for
the stock. which was offered at lis. Six
shares of Lanston were sold at So.
Ten shares of National Metropolitan
Bank stock brought $50.
Report TO Comptroller.
The abstract of reports made to the
Comptroller Of the Currency, showing
the condition OF the banks in the Dis
trict Of Columbia on January Is, was is
sued yesterday. In addition to what
heretofore has been printed, the state
ment shows:
Washington national banks have total
resources Of SIS. 17S. 263.67. Loans and dis
counts aggregate S27.0S7, 4Il94 There is
f4.05S,1sS.15 in reserve. The capital stock
of all the banks is $500. 900. with surplus
of Si,S65,000 Undivided profits equal
$500. 6S5S2
Trust companies have $5O.372 Ss5.I5 in
Total resources. The loans and discounts
amount to SIG, 20. 2S6.is Their capital
stock is sIO.000.OOO. with si,552 go surplus.
There are sl1,si7.6a0.94 of total re-
sources to the credit of the savings
banks. Loans and discounts equal
sS,122.7SS.6s. Capital stock aggregates
H,S92.071. with s2S4,7S9 in surplus
Penn<y'S New Mortgage.
Notice to stockholders of the annual
meeting of the Pennsylvania Railroad
Company. TO be held in Philadelphia,
on March 10, announces that the stock
holders will be asked to authorize "a
mortgage to secure bonds to be issued
from time to time when and as ap-
proved by the stockholders TO an
amount not in excess at any time of
the then outstanding capital stock"
&c. The terms above quoted would at
the present time authorize a mortgage
under which a possible maximum of
$500. 100000 bonds could be issued, and
the maximum would be raised IL and
when the company increased its au-
thorized capital stock.
1t is intimated by Pennsylvania Rail-
road officers that the company has no
intention OF issuing bonds under the
new mortgage Immediately. and. in
fact, the formalities to be gone through
with will probably not be completed
until some time after the annual meet
ing.
At the meeting on March 10 the
stockholders will be asked to author
ize the acquisition of the property and
franchises of the Hollidaysburg, Bed
ford and Cumberland Railroad Com
pahy, all the stock of which the Penn
sylvania owns, and to transact other
business. The annual report also will
be submitted.
Chflds Company Statement.
The Childs Co. reports for the year
ended November %. 1918, compared as
follows:
GreS SS6J.e5 SSH los
enos-..-.....-....-..---.----.- ea.IS Coz. fS
surplus 3b,s4 Gl,66
The general balance sheet as of No.
vember 30, 1913. shows assets as fol,
lows: establishments, plants, &C., $751;
i0S; cash, S507,236; stocks owned, $40. 100:
notes received, $4141sl: inventories, SIS. :
PA: real estate. s107. 800: reserve fund,
54l, 5e4; total. s10.04i,9os.
During the last year the company
opened ten additional branches, one of
which is in Washington.
Operating Revenue Decrease.