The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-01-09
IENERALMARK
Trend UPWARD
INK Of England Rate Reduc-
don Starts Gains Railroad
Plans Accomplished.
t'ADOO HELPS CAPITAL
Iitude Of Secretary of Treasury In
dicates Washington Will Get
Reserve District Center.
BY w. sTEALEY.

rhe New York stock market yesterday
d q comparatively active day of trad
:. The trend of the market was up
lrd. A selling in Union Pacific, placed
The London market. broke the price
int. Prices then moved uneveniy.
New Haven fell to 81 1-2 on a heavy
crease shown in November earnings.
continuation of liquidation in Norfolk
id Western carried the price down to
AR. The Street seems to think Pennsyl-
Rnia win find Il necessary to dispose of
p holding in this stock. which amounts
something more than s5o.0o0,000.
Trading dropped around noon when the
PIPER Producers Association issued the
bcember report showing an increase Of
Ter $4,000 pounds during the mouth.
bis was quite the poorest report issued
bee the association began its monthly
ports some four years ago. As an evil
lnce of a lack of speculative interest
the copper shares, Amalgamated lost
bout point on the day, and Utah Cop
ir and Anaconda only is each.
Some 5000 shares of Reading were dealt
. The price closed unchanged, but
ERE was a firmer undertone and the
gh figure was 10 3-S.
Bonds were active and strong.
Iuthern Pacific convertibles gained on
e statement that the company was
II considering any immediate financ-
=. Baltimore and Ohio convertibles
pre- fractionally lower. New Haven
nvertibles were strong. despite the
eakness of the stock. Steel IS were
better demand around 1O0k. Rock
land collateral As were heavy. a con-
ion that has become chronic of late.
with a reserve of 1887 per cent,
impaired with 33.40 last week, the
hnk Of England reduced its discount
tte from to Az per cent.
Foreign inquiry for short-term notes
lntinues good at improving prices.
undertone of the market is strong,
there are many Indications that
culation will broaden with an i'm
5vement in prices.
U. p. Plans Approved.
Directors of the Union Pacific Rail-
I'd yesterday approved the plan rec |
r mended by the roads executive |
imittee on Tuesday for the distribu-
! Baltimore and Ohio stock, together
uction of the Union Pacific common
idend from 10 to per cent.
he distribution will be made April
D stockholders of record of March 2.
The Baltiomre and Ohio also declared
sterdzy the reguizr semi-annua1I
idend of 3 per. cent on common
3 TX and 2 per cent on preferred
on Pacific went OF IL points, clos
at 1871. while baltimore and Ohio
ned x of pofh closing at ss%.
70 it'll almost everybody bearish on 1t,
re has been an extraordinarily good
ket for Baltimore and Ohio stock
'ce the announcement of the distribu-
plan. The stubbornness exhibited
have been the cause of an undoing
ontracts for the decline hastily en-
] into on Tuesday with the idea that
price was on the verge of a collapse.
20 the possibility of delay from litiga-
q combined with conditions in the
ia market may have induced some
IN Pacific stockholders, who immedi-
went short of the market against
receipt of their stock dividend, to
/. draw, from their position.
any rate stock sold was readily alb
ID The market had to take a good
4 from abroad, both on direct sale
a indirectly through agents of foreign
ders. Several transactions seller 20
vs. obviously indicated sales of this
ter type.