The Washington herald., 1914-03-31
STOCK MARKET
RESISTS BEARS
Drive at Steel Does Not Ma
terially Affect Prices and
Gains Result.
w., B. & A. RY. MEETING
President Bishop. of Electric Line.
Makes Annual Report-Southern
Roads Earnings Improved.
BY w. sTEALEY.

BY w. STEALEY.
Steel and Pennsylvania yesterday
worked a little lower on the New York
Stock Exchange. but the market closed
steady with strong undertone, the lead
ers showing an advance.
Closing prices were the highest OF the
day. Copper went to &C. Union 156.
Reading l65k, Baltimore and Ohio sOA.
Chesapeake and Ohio 5Sh, and Western
Union s..
After a poor opening the market made
a good recovery, from the further efforts
made by the bear element to depress
prices under the lead of Steel The
feature of the bear movement against
Steel and the oversold condition Of the
general list started the market in its
sharp rally during the last hour.
Local stock Mazket.
Cap:tal Traction stock weakened on the
Washington Stock Exchange yesterday.
five shares selling at los and similar
amount at los L. The price marked a
new low level At the close 104 IA was
bid, IO4 rs asked. One $500 Of the COM
pany sold 1OS1-S .E
Trading in the exchange was dull. A
$1,o00 Anacostia and Potomac sold at
100 and a 81 600 Railway 4 at 50.
Ten shares of Continental Trust sold at
III.
w. n. n. "ettlhg.
The annual meeting of the Washington,
Baltimore and Annapolis Railroad was
held yesterday at Naval Academy juno
ton. No changes were made in the per-
sonneI of the board of directors or Off
GERS. The officers are: George T. Bishop.
president; Frank H. CHM, vice president:
George Weems Williams. secretary;
George A. Craig, treasurer; James ].
Doyle, general manager.
The directors reelected were: George
T Bishop. George A. Craig, ]. ]. Doyle,
George Weems Williams. all Of Baltimore,
and c. S. Eaton and F. II. CHM of Cleve-
land. and George r. Sheldon, of New
York
President Bishop. in his report to the
stockholders. mentions that a new siding
400 feet long has been laid at Winona
and that a spur 1,SOO feet long has been
constructed at Gambrils. where the Unit
ed States government has a dairy farm
for the Naval Academy The rapid
growth of the freight and express bust
ness has necessitated additional platform
space at White House Station This sta
ton now has 20l6 square feet of space by
the construction of a new platform 81 by
"A feet.
Southern Holds Well.
Railway statistics show that the South
ern roads are not suffering by any means
as great a shrinkage of gross business
as those of either the East or West
With the supposition that the remainder
of the fiscal year will not bring operating
results materially poorer than in the first
half. il may be estimated that the South
ern Railway will show about per cent
on the common stock for the year. Last
year the balance, after charges and pre-
ferred dividends was somewhat less than
~ per cent on the junior shares. The
companys gross income did not suffer
A setback of substantial size from last
July to the present month. when a re-
cession of $4,000 was reported in the
come IS $4,000 greater for the fiscal
year than for the same period of the
preceding year.
Equipment for n. a o.
Delivery on passenger equipment or
dered several months ago by the Balti-
more and Ohio Railroad will be started
in a few days, and it is expected that
through trains will be operated with the
new equipment during the summer sea-
son. The equipment on order consists of
coaches, smoking cars. diners, baggage
express and postal cars. Freight cars
also are included in the outstanding
order
When the new steel passenger equip
type now in use on through trains will
be assigned to local trains.
Aiming to prevent accidents at the
crossings of its tracks in the cities and
towns and on the highways, the Balti-
more and Ohio management has issued
comprehensive code of rules to watch
men, clearly defining the duties of such
employees and urging every precaution in
the interest of public safety.
4 bulletin issued by the Department
of Commerce gives the average price of
cotton shipped abroad in February at
121 cents a pound, against 1913 cents a
pound in February last year: for the six
months ended February the average price
OF cotton sent abroad was IS cents a
pound, against u cents in the correspond
Ing time in the previous year.
The Pennsylvania Railroad Company
has made up its mind that it will pro-
tect itself against the repeated INTERRUPT
ton of its telegraph service not only by
the periodically recurring blizzard. but
by the more frequent wind storms 1t
has decided to put its wires under ground
and will spend a million dollars to ac-
complish that end.
The Franklin National Bank officers
and directors are expected to be elected
today. John B. Cochran and r. s. Burk
are to be made president and first vice
president. respectively, Of the bank, with
J. Fendall Cain. cashier.
The New York Cotton Exchange will
De closed April 10 and II. Liverpool will
De closed April 10. IL and 13. The New
Orleans exchange probably will be closed
FRIDAY and Saturday 10 and II. but no
7HHs ,.A.--