The Washington herald., 1914-02-13
PROUTY ESTIMATE.
NOT OVERSIATED.
Cost Of Valuation Of Railroad
Property May Exceed Com
missioner's Figures.
LOCAL STOCKS DECLINE
Traction and Railway Again Show
Losses-Liigation May Cause De-
lay in Union Pacific Judgments.
BY w. srEALEY.

The estimate of Charles A. Prouty that
1t will cost from S,0oo00o to 81, ,000, 600 to
value the railroads is an illustration Of
the gigantic task involved as well as diff
ferences which exist over the'cost Of the
work. Prof. II. C. Adams two years ago
estimated the cost at $5.00.ooO. 1t cost
Michigan and Wisconsin about $40 a
mile. It cost the Northern Pacific $12.5o
These Western values can hardly be re-
garded as Indicative, for the roads are
comparatively new. There is little Sec
ond track. yards. &c. that exist in the
older systems.
1t cost the New Haven about $40 a mile
for valuation for the Massachusetts,
validation commission, inclusive of the
trolley and steamboats,. An estimate of
$40 a mile would mean s1s.0oo,0 900 for the
entire country.
Mr.. Proutyis outside estimate of s12,-
0ooooo cannot be said to be excessive.
II also is of interest to note that prob
ably one-half the work will have to be
done at the expense OF the railroads un-
der the direction of the Federal agency,
just as the banks are now standing the
expense of collecting a portion of the
governments income tax.
Local stock Market.
For the first time in several months
trading on the Washington Stock Ex-
change was confined to stock transac-
tions. Bond sales, which have formed |
the notable feature Of the local exchange |
during the last six weeks, were absent
Railway and Traction stocks again
showed declines. Forty-five shares of :
Capital Traction sold at 107 "a, five shares
at los. and twenty-five shares at los L. |
Seventy-seven shares of Railway pre-
ferred sold Sc 5-SaS7 IA Five shares of /
the common sold at 80. Ninety-one shares ',
OF Washington Gas stock scld So LAS.
Ten shares Of Washington Loan and
Trust stock sold at 235, one share of Ma
uonal Metropolitan Bank 100. one share
National Bank OF Washington, $50.
U. p. Checks Delayed. |,
Holders Of Union Pacific Railroad COM {
mon are in receipt of a statement that ,
In view Of pending litigation on the part :
Of preferred stockholders to enjoin pay
nent of the extra dividend on the COM y
mon stock, and because the possibility I
mat such litigation may cause the post !
ponement of the payment of the extra !
dividend to some date later than April y
|, dividend checks and warrants will not
De mailed April l, as heretofore an ,
lounced, but instead the company will | n
nail To each registered holder of its &
Common stock entitled to the dividend, L
'ronpty atter the closing of the books =
IN March 2, dividend warrants eyidenc- Z
Ind Baltimore and Ohio stock. applica- y
ne to the number of shares of common G
took registered in the name of such G
tockholder G
Said warrants will be exchanreable n n
'hen, as, and If said extra dividend shall =,
e payable. as stated therein, for checks r,
epresenting the part of the dividend p,
ayable in cash and for stock certificates
the Baltimore and Ohio Railroad Com 2
any and fractional warrants, representing
le part OF the dividend payable in stock
that company.
n. \. SuSnr Testimony. do
Henry NJ. Wagner. of the firm of Fl. 70.
!. wagner. wholesale grocers of this ID;
ty, was witness Yesterday in ar an
o'ernments suit against the American a.
1sar hehnlng Company, in New York. IL
-nr. wagner produced figures showing al.
=rcentases OF purchases since 1906. II an So
Jared that from 1860 the McCahan 1
'mpany obtained nearly all his busi ch,
SIS SIS Ihen Tor time the Warner COM do.
my secured the largest percentage Dur ia ia
the last three years. however mr. roi
ases nave been more widely scattered | mi
hT. wagner testified further that he
ugnt MS sugar through brokers. some
"hom represented all refineries Others
teo only Tor individual refiners. He as
Tea mat he designates the refinery Q
q, Susoi sHdil De taken and -
ueo that a difference of l cent a bar .cr '
IN price might swing his order VI"
'ooert ). Steuart, of Baltimore fol- II -
Veo Ar. wagner. The witness testi- tiJe
under direct examination that dur quo
ISlS ms f1rm bought sS25,I4 worth ID
sugar. of which sS2.O45 came from the hisf
'eIIcah company and s62.72e from its San i
'sIuidf!' sI!' the FRANKLIN refinery at Phil Flo,
'iphia. About 5000 worth OF bas, :,
ar was taken during the vear unrl
Z,
ramed maps. showing all the princj- ern,
points OF interest, the names of i'm L. l.!
oaht waterfalls. their height. the ele- Ri
ION OF various peaks, and other useful Ib
'rhauon' VIII be framed and hung up xsz
the observation cars Of a Western GI
Ioau, MAPS prepared by the United pots
he rnanaror - ~. "'i De used 70;
'eiers VINO are strangers in this terri 100
VIII hnd these maps and the infor- Loo;
ION that they carry of much helpful rots
rest. per
cymh
lie number of stockholders of the Fio]i
nsyivania Railroad Company who asoz.
paruclpate in the quarterly dividend. whit.
apie the last day of this month. is 80:
o the largest list on record. The .,A
Der of shares on which the dividend sas.o.
be paid is 9.9S4.So9 of the par value do.
4s9. .2f0. $50. ! na1
beI.
Price of GasoIeu~ u.a bbl,
Elois
Louis, Mo-, Feb. Fit is officiauv 22;
'unced that the Standard OIL OF In. per c
q has reduced price of o.. .,,;. CHI