The Washington herald., 1914-04-07
STOCK MARKET
TRADING Light
New York Prices Move m
Narrow Range and
Slight Gains.
BANK OFFICIALS GREETED
Franklin National Has Good Opening
Day-prospects for Good
Crops.
By w. srEALEY.

BY w. sTEALEY.
The New York Stock Exchange yester-
day closed with q fractional gain Prices
moved within narrow range and the day
was marked by the extreme dullness Of
last week.
Steel. closing at sSls. Union at 15s%.
Reading at 1854 and Copper at 76's rose
slightly up. There were small losses n IN
New York Central Northern and B. q o.
Upward movement in Goodrich was re-
sumed and stock sold up to Zh There
was persistent talk of a new process OF
manufacture On which the company has
secured the patents with a possibility OF
considerable increase in profits
Under unfavorable political conditions
the market has held up remarkably Well
Local stock Market.
There were no sales of bonds and only
eIghty-two share of stock tranaetions on
the Washington Stock Exchange yester-
day.
FIFTEEN shares of National Bank Of
Washington stock brought 2An Six
shares of MergenthaIer brought a4S.
In the public utility list Capital Trac-
ton featured fifty shares selling at lOl f.
At close I0l was bid for the stock, lOl94
asked. Railway common, eleven shares,
sold at 50. Eighty-eight and one-half
was bid. 81 asked.
Good Crops Predicted.
The crop conditions should from now on
become increasingly factor in the gem
eraI financial market. The government s
report on winter grains will be pub
lished today. and unless reports of private
interests are all inaccurate the record as
regards winter wheat will be a highly
favorable one. With an enlarged acre
age and ideal conditions throughout the
winter, the prospect for the new wheat
crop could hardly be better. Some stat
isticians in fact peredict a yield of 6OO.
e0.OC0 bushels of winter wheat-a total
that has not previously been attained.
Reports in respect TO the new cotton
acreage also are encouraging. and while
IL is a far cry to the date at which
estimates may be made with any degree
OF probable accuracy for the 1914 crop,
still it is satisfactory to know that pre-
liminary conditions are SO completely
favorable.
Franklin Officers Greeted.
The Franklin National Bank, which sue
ceeds to the business of the Munsey
Trust Company at Pennsylvania avenue
and Tenth street, yesterday opened its
doors to the public.
rated with spring flowers, palms and
ferns sent by friends in this city and
in Staunton- Va.
During the day there was a constant
stream of visitors to meet President
John B. Cochran and Vice President r.
:. Turk and the old cashier, ]. Fendall
Cain.
The bank officially began business Sat
urday with deposits of s., ,0S4, ,OoO An un-
Icr f,f
were opened yesterday and the tank's
officers and, directors are gratified highly
over the banks prospects for SUCCESS.
Standard Gauge Road
Parkersburg and Charleston are to be
ninety miles long, traversing Wood
Jackson. Writ, and kanawha counties
according to statements made by officials
OF the Charleston, Parkersburg and
Northern Railroad.
II was stated that all the franchises
and rights of way had been obtained
and that the West Virginia Securities and
Construction Company would finance and
build the road. Stockholders Of She COM
nsny held meeting, going over the pre-
imtnary plans. Work is to be started
this summer
Southern Cotton Mills.
A recent article in leading periodical
on the cotton situation in the United
States contains surprising information as
to the spread of cotton mills in the
South According 10 the figures the cot
ton mills of the South used more cotton
In 1873 than the mills Of all the rest of
the country combined. During twenty
years the thirteen cotton-growing States
OF the South increased their home con-
sumption of cotton by 800 per cent. The
TWO greatest manufacturing States of that
section are North Carolina and South
Carolina. although elsewhere mill towns
are sprilgi4g up as II, by magic
The South is being rapidly transformed
and the views of its people on many
matters which they have hitherto re-
gsrded at long range and with but little
practical and intimate information are
undergoing a great change.
Exchanges VIII Close.
The Washington banks will remain
open throughout the Easter HOLIDAYS. The
Washington Stock Exchange will be
closed Good Friday. but will reopen Sat
urday. The New York Stock Exchange
VIII close Friday and probably Saturday.
The New York and New Orleans cotton
exchanges are closed Friday and Satur-
day.
The Liverpool and London grain mar
kets viii close Good Friday and Easter
Monday. but viii open for business Sat
urday. Paris, Berlin. and, Antwerp will
close Friday Saturday, and Monday,
while Buenos Ayres will close Thurs
day. Friday, and Saturday. Budapest
VIII close Friday, Saturday, Monday, and
Tuesday, and Holland Friday and Mon
day.
Government Bond Table.
A table prepared by the government
actuary shows the average net price and