The Washington times., 1914-01-24
CONTINUED ACTIVITY
ON LOCAL EXCHANGE
Newly Listed Stock Has Initial
SaIe-Washington Banker
Concludes Bank Deal.
By GEORGE H. GALL.

Continued activity and firm prices
was the order of the session Of the
local stock exchange today. The bono
trading was again the feature, and
total sales Of $4,000 Of bonds we're made.
Capital Traction 5's become harder.
After two $500 bonds had sold at 80.
three 81, 900 bonds and $500 one brought
1854. Two more 5000 bonds were then
obtained at an eighth less, and another
went at 100. Washington Railway As
maintained their level Of 50 for $500,
while 81 was paid for 500 bond. Two
Il Potomac Consolidated SIS sold at par,
and a Washington Gas per cent bond
at los.
| Columbia Gas and Electric stock came
out for the first time today since IL
was listed, 100 shares selling at II and
another 100 shares at 12h. The stock
has recently been active on the Pitts
burgh exchange. Washington Railway
| common and preferred sold again at
/ 80 for small lots. A lot of Is shares
! of Lanston sold at S3 and shares OF
| Gas brought Srk.
EIdridge E. Jordan, vice president of
the Mutual Alliance Trust Company of
New York, was in the city today. and
admitted that the absorption OF the Ma
tional Reserve Bank of New York by
the trust company had been accom-
|
complete today or Monday. The COM
| bfnation was brought about largely
| through the former Washington bank
er's instrumentality.
The deal consists in the taking over OF
| the deposits and assets OF the national
bank by the trust company giving the
trust company about s15.0oo.0Oo in. de-
posits.
A dividend of 1 per cent on the pre-
farrad ofOPk nf fha Saahnard Air IlnA
Railway was declared by the directors
at their meeting in New York Friday.
1t is payable February is to holders OF
record February 6. The first dividend
OF per cent on the preferred was de-
clared In October. A statement issued
by Chairman s. Davies Warfeld at that
| time did not commit the company 10
any prescribed rate per annum. That
statement said: The question of the
yearly basis on the preferred stock Of
the Seaboard Air Line was not acted
upon. The policy of the directors in
this regard will obviously be TO retain
for the improvement of the property
such portion of its earnings as in their
Judgment is conservative and wise. Nat
| urally, the directors should be inclined
to provide for the proper requirements
of the property. and to distribute to the
stock holders a fair proportion OF the
earnings of the company"
The Union Trust Company has had
prepared and Is issuing circular forms
for the return Of the annual net income
of individuals in conformity to the reg
ulations of the Treasury Department for
the income tax. 1t Is pointed out that
failure to make the return to the Col
lector of Internal Revenue by March l
may be penalized by a fine Of from $40
to 1900.
Preparations have been completed by
Chairman John Poole, Of the dinner
committee of the Bankers Association
Of the District, for the banquet to be
o'clock. President Wilson is not now
expected to be able to attend, though
the list of guests already announced is
confirmed.
A general and real expansion in busl-
ness is reported by the mercantile
agencies today. Bradstreets review
says:
"Sentiment-financial, industrial and
ommercial-manifestly is better than 1t
was a week or a month ago. Appar-
emily the Presidential message issued
duriPg the week has helped to clear
the economic atmosphere, and business
men seem to be more disposed to go
ahead with their respective enterprises.
THE marked success Of the sale OF
New York States s5l, 100000 bond issue
evidences a plentitude of money for in
Yestment and the return Of confidence
in high-grade issues.
ON the Industrial side of affairs,
there is more work available; demand
for iron and steel continues to reflect
improvements, and IN that industry, as
mothers, operations are increasing.
"As regards general commodities,
trade in seasonable wearing apparel
has been helped by colder weather, but
where mild weather prevails business
Crop conditions are good. Winter
wheat is in excellent shape, not%ith-
standing that Ohio veliey reports in
dicate absence of STOW covering. In
the South plawing for spring Is going
on, and sales II fertilizers are expect
ed to be unusually heavy, thus indi-
catin increased acreage.
financial markets seems TO have af-
fected those for cereals aud cotton.
The former shows few changes, but
those few are in the direction of
strength, especially in corn, which has
hardened despite larger movement.
Business failures for the week end
ed January %, were 434, which com
pares with Alb last week, 366 in the
like week of 1913, 436 in 1912, 345 In
1911, and 295 in 1910"
r. G. Dun & Co.'S review is in part
as follows:
while there is tangible evidence of
continued expansion in general busi
ness the betterment is not entirely
uniform. In the important iron and
steel industry, the belief is strength
ening that the turning point has been
reached although 1t is not expected
that the recovery from previous de-
PRECISION will be rapid. Labor, how
ever, is more fully employed"