The Washington herald., 1914-02-25
DULLNESS MARKS
STOCK MARKET
Prices on Exchange Move
> Only in Fractions-Steel
Springs Of.
LOCAL TRADING LIGHT
Security Savings Acquires Property.
H. H. Brown to Represent
Carpenter Company.
LOCAL TRADING LIGHT
By w. sTEALEY.

opened but little changed from Saturdays s
close, and throughout the day remained
extremely dull, with fluctuations In the
more active stocks confined to fractions.
For a week the market has been in a
waiting attitude. believed largely TO be
due to the MeSican situation. The pres
ent narrow range of movement Is expect
ed to give way to more activity within
the next few days. 1t already has been
OF remarkably long Duration.
The market yesterday closed somewhat
lower than Saturday.
Railway Steel Springs went on two
points on reports of a discontinuance OF
h dividend distributions, based on unfavor-
able earnings.
Union Pacific convertibles sold up 3-S to
81 3-S. their advance being regarded as in
dication of the view taken in important
quarters of the intention of the Equitable
Life TO bring suit to restrain distribution
OF Union Pacific holdings OF Baltimore
and Ohio to holders Of Union Pacific COM
mon stock. II the distribution were re-
strained the conversion privilege in the
bonds might again become matter OF
some value.
Steel closed at g. 5-S, Reading at 16I,
Copper at 20 Ia. and Canadian Pacific at
s1S 5-S all fractional losses Union Pacinc'
Southern, and Chesapeake and Ohio
showed gains
Local stock Market.
There was scant trading on the Wash
ington Stock Exchange yesterday and
little variance from the quotations OF last
week.
Bond sales were limited to one a.ooo
Washington Gas at 107 Il
In the stock list twenty-five shares of
Railway preferred sold at 81 Is There
was no trading in the common
Twenty-Five shares of Washington Gas
stock sold at s. rs; thirteen shares Of
Lanston at s.
Equitable shows Gain.
The EQUITABLE Life Assurance Society
in its fifty-fourth annual report gives
evidence Of continued progress during
1873 Gains shown are:
Admitted assets s5s5.S45,sls Inc. s12.o26, as
Surplus s..-.... S4.36S743 Inc. 4d2,oSs
Policy fund.-. 4S2, 2S2. SIS Inc. e,sso, ,ss1
Ins. in force
Dec. 81, l9I3.... l.f1,G9s,5I5 Inc. H.ssl.7H
During 1918 the Equitable made s25,s4s?o4
additional investments at an average
WELD OF $50 per cent OF 5.3si domestic
death claims paid during the year. nearly
90 per cent, were settled within one day
after receipt of proofs of death.
Banks Almost Unanimous.
Secretary McAdoo yesterday said that
out Of total of 1895 national banks In
the United states 7,4s5 have accepted the
provisions of the Federal reserve act. or
the remaining twenty-eight. eighteen
have notified him of their intention not
10 accept the provisions Of the act and
the other ten arc still to be heard FROM
The eighteen banks have made arrange
r1ents to liquidate.
The total capital stock of the banks
of the United States is sI,057, ,0e5.5S4. OF
which the aggregate capital Of banks ac-
cepting the provisions of the act amounts
to Sl.C54. .5SS, ,5a. The aggregate capital OF
the twenty-eieht banks not in the system
is 81 $500 Ninety-nine per cent of the
banks have accepted the provisions of
the reserve act and their capital repre-
sents more than 80 3-4 per cent of the
capital of all national banks in the United
States.
President Bell Returns.
President Charles J. Bell, of the Amer
lean Security and Trust Company, re-
turned to Washington yesterday after a
short stay in Florida
Business men whom met South were
in an optimistic frame of mind over con-
ditions,'' said Mr.. Bell, but they were
unanimous in adding that it all depends
7 upon what you people in Washington
do
With the return of Mr.. Bell, Howard
S. Reeside relinquishes his duties with
the American Security and Trust Com
pany to become the active head of the
Washington Gas Light Company. Sew
eraI changes in the American Security
will result owing to Mr.. Resides abb
sence.
New Line Inspected.
The formal opening yesterday of the
new Central Railroad of Maryland at
tracted for the inspection trip over the
line a number of financiers from Pitts
burgh, Buffalo, and other cities. This
road is a new connection of the Penn
sylvania Railroad, by which 1t is owned.
II runs from Key Mar to Union Bridge,
Nd. and was built at the instance Of
the Tidewater Portland Cement Com
psny for the distribution Of the products
OF its plant at Union Bridge. B, T.
Scott, president of the Tidewater Com
pany, is president.
Rank Buys Property.
The Security Savings and Commercial
Bank, and the Munsey Trust Company.
and the United States Trust Company
yesterday completed negotiations for the
sale of the latters property at Seventh
and @ streets. The sale will be ratified |
today by the several directorates.
For the present tine two banks will be |
operated by the Security Savings, but e
is expected that within a few months |
the Seventh and C streets property alone (
will be used. |
The consideration is reported to have |
been about $4,000.
The officers and directors of the Security /
are Julius I. Peyser, president: George r. |
Linkins, vice president; Fred Mckee, vice
president; John II. Baltz, cashier; Will
lam r. Baum, assistant cashier; Charles /
W. DRrr, general counsel. Directors: John
II. Carter, Charles w. Darr, Louis A.
Dent, d. A. Edwards. J. ThilIman
Hendrick George II. Judd, James A.
Flynn, Julius /. Peyser, A. d. Prince,
George r. Linkins. Fred Mckee, and \
Townley A. Mckee.
Chapter Members Entertained.
Members of out-of-town chapters who
attended the banquet OF the Washington |
Chapter of the American Institute CT
Banking held Saturday evening at the /
Raleigh Hotel, through the courtesy OF /
President King. OF the Washington Rail-
way and Electric Company. Monday.
were given a ride over the company's /
lines to Cabin Johns Bridge in the ,
parlor car Columbia. About four hours
were consumed, after which the mem
bers were the guests of H. II. Flather,
cashier Of the Riggs National Bank, at
a dinner at the University Club.
Herbert II. brown who for many years