The Washington herald., 1914-05-05
prices CONTINUE
UPWARD trend
New York Market Shows Ad-
vance-Reserve Board Sc
lections Commended.
TEXAS COTTON SHORTAGE
Mexican War Would Take Laborers
from Lone Star State-Better
Trading on Local Change.
TEXAS COTTON SHORTAGE
ny w. STEALEY.

There was a continuation in the New
York Stock Market yesterday of the good
buying of Thursday and Friday of last
week.
There also was a good deal of bullish
sentiment in the announcement Of the
o. selection of Richard Olney and Paul NJ.
warburg as members of the Federal
Reserve Board. and also anticipation OF
the most brilliant winter wheat crop
prospects indicated in the government
crop report for May l conditions due
Thursday.
The sharp advances in prices ranging
from / to points additional from Sat
urdays closing, however, was on very
light trading. Profit taking thereafter
cancelled about half of this improve
ment with the lull in the covering de-
mand from the short.
Steel was active and finally went to
90 "a closing at 60. Reading closed
1s4 s-4; Union. 156 Is: Copper. 20 Is: Mex
lean Petroleum, S. and Southern Pacific,
Local stock Market.
A fair volume of business was trans
acted on the Washington Stock Exchange
yesterday.
Among other sales, which have not
been made recently, was that of a $500
u. S. coupon 3 at l0l.
Bond sales in addition amounted to
$500, including Capital Traction 5s. 10Ta
107 IA; Potomac Electric Consolidated IS,
at 80 l-2, and a Georgetown Gas cert.
ind, at 1O2.
In the stock list twenty-five shares of
Railway preferred brought 81; eight
shares, &l-2. The common sold six shares
S7aS 1-2. Three shares of Washington
and Norfolk brought 1S9. Odd lots of
Mergenthaler sold at 2lj 1-4a215 S-S
Thirty shares of Washington Gas sold
at 70 l-2, and two shares at 797-S.
Canadians Heavy Losers.
It is doubtful whether any other class
Of traders in Canada has made so much
money out Of Canadian Pacific Railroad.
as have hundreds of small traders
stretched throughout Nova Scotia and In
Newfoundland. They have always had
orders in stock, so far below the market
that nobody thought they would be filed
and yet most Of them have from time
TO time been able TO get their stock. As
O result they have made very big profits.
At different periods recently they have
continued their usual operations but the
downward trend has been so far marked
that even their policy of averaging on
the first time in 4 number Of years many
Of them have evidently been forced to
take their losses. So far the Eastern
trader has not been educated up to the
advantages OF the short side. hut even
81 he were he did not treat Canadian
Pacific Railroad as one of the stocks that
might be handed from the short side. In
st. Johns there were always a number
of canny operators who for some years
PAST have Centercd their attention mainly
on Canadian Pacific Railroad and have
profited nicely by their transactions.
Within the last couple Of weeks, however,
IT is stated that the losses in that city
alone. have exceeded S2CO,OOO
Texas Cotton ShOrtnEc.
Should efforts at mediation fail and
the steps already taken against Huerta
eventuate into a real war, labor condi-
tons in Texas would be unsettled to
such an extent as to reduce the size of
the cotton crop in that border State
Not only would the supply of American
labor be restricted by war. but the move
ment of Mexican laborers into Texas
during the cotton picking season would
be stopped If the war lasted that long
Furthermore, Southwestern Texas. espe-
cially the counties bordering on Mexico.
would be 81 close to the seat of war
that operations for agriculture could not
be carried on successfully.
One who has not been to Texas has
no idea of the spirit that prevails IN
that State. A weIl-known cotton man
who has just returned to this city from
a trip through the big State. declares
that the war spirit there is rampant
Men and even boys are anxious for war,
and are only awaiting the firing of the
first guns TO move across the border.
A. c. L.. r. r. Report.
The Atlantic Coast Line Railroad Company re-
ports for March:
c,,,..i - t,-r5 5s., -, e. -
Operating expenses ard taxes 2E5,B5 Inc lS.5ls
9Rssating inooRs a.Gsl6 Dec aS.O7'
Operating revenue " ,' s5s1 Inc zO5. 10
Oper. expenses and raxes.- 9.sl3,92 Inc. 1Gl9O
Operating income. SlH.4Os Dec. SesTeO
Alertness in the management of the
Southern Railway is manifested in its
plans to profit by the Panama Canal
trade. To this end the Southern is
already in the field with a special agen,
IN South America, and by the activities
of this agent, who. by the way. is Charles
L Chandler. the Southern expects TO
work up new lines OF business with the
Iatin-American countries. The Southern
Railway perhaps has the greatest geo.
graphical advantages of any line In the
country for the handling of this new
trade. and Southern ports and interior
points will profit
Lewis johnson & Co. announce the sale
OF 100000 of the 100000 issue of Yves,
Penn Traction Company three-year 6 4
per cent secured gold notes bearing date
Of March 2. 1914. due March /. 1917.
The company furnishes electric light
and power, and does a street railway
businesSpin Western Pennsylvania, Ohio
and West Virginia. The territory served
by the railways of the systent is immed-