The Washington herald., 1914-03-03
STOCK MARKET
SHOWS DECLINE
New York Practically Isolated
and Prices Move in Mar
row Range.
TICKERS FAIL TO TICK
Local Brokerage Establishments Get
Wall Street Quotations with
Difficulty.
By w. sTEALEY.

With telesraphic communication alnost
paralyzed, due to the general havoc
wrought by the hurricane, Washington
brokerage houses experienced the great
est difficulty in getting in touch WITH
New York.
The stock quotation ticker service, over
which quotations from Wall Street are
received. was completely out OF service
and most of the private telegraph wires
to the financial center were not WORKING.
The ticker people worked frantically to
restore service, but were unable to do
so before the market had closed. Several
brokerage houses succeeded in establish
ing communication with Wall street
through roundabout wires and kept their
clients partly posted on quotations, many
of which had made a detour OF the coun-
try, entering Washington from the
South.
With New York all but cut of from
the outside world, trading in Wall Street
was almost at a standstill and many
stocks were not quoted at all
There was a general fractional decline
in the market. Steel closed at Ga S-S, and
Union Pacific at 159. Both stocks sold
ex-dividend yesterday. Reading closed at
Iel as, Copper at 13 as, American Tele-
graph and Telephone at 10 is, Canadian
Pacific at 10.
The local stock market reflected New
York conditions. Trading in bonds was
confined to one sl.0c0 Railway and Elec-
tric at So 5-S. Only thirteen shares of
stock were sold, ten American GRAPHIC
common at 90, and three Washington Gas
at 81 IL.
Poor Month i'm Stocks.
February brought the smallest total of
str for n
teen years. There are fewer trading
days in February than in any other
month. which makes the contrast with
a very creditable total registered in jan
uary all the more striking. With two
holidays and four Sundays there were
but twenty-five days last month on
which the New York Stock Exchange
were under 5000 shares. The months
total was 6,2s2Ooo. comparing with To-
l06.09 for January. The average daily
sales in January, with four Sundays and
one holiday, were 3SS,6O0. Compared to
the corresponding month of last year.
February's total was smaller by 0S567
shares. 4 better showing was made in
bonds: the total OF 69ilS.0o0 showed an
increase of s2l,s67,Oo0 over the previous
February.
President Grny's Policy.
1t was stated by an official of the
Western Maryland. who was here yes
terday, that the election of Mr.. Gray
would not alter the company's policy in
connection with its contemplated ter
minal development in Baltimore in the
promotion of which President Fitzgerald
has rendered valuable service, both 10
the city and to the Western Maryland
Railway. The proposed development, in
the opinion of the board, is quite as vital
10 the interests of Baltimore as to the
Western Maryland.
Two vacancies in the board will be
filled later by the election of one Balti-
more and one Pittsburgh man 10 repre-
sent interests local to those cities.
Capital Traction officials have been
written by local dealers for information
concerning the proposed bond issue. De-
tails will not be available until the Trac-
tion officials discuss the matter with the
Public Utilities Commission. The COM
pany's IS are listed at los 1-2, but this
figure does not govern the proposed
issue.
President Reside. of the Washington
Gas Light Company. is now in charge
OF the company's offices in Tenth street,
his connection with the American Sc
curity and Trust Company being purely
honorary.
H. F.. Taggart has been made travelling
passenger agent OF the Baltimore and
Ohio Railroad, with headquarters in this
city.