The Washington herald., 1914-05-27
STOCK TRADING
IS At Low EBB
New York Sales Down to Less
5 Than $4,000 Shares, with
Prices Steady.
H. & F. R. R. EXTENSION
Company May Acquire Public Serv-
ice Field of the Western
y Maryland.

ice Field of the Western
y Maryland.
By w. STEALEY.
Trading in the New York Stock Ex-
change yesterday was marked by utter
stagnation Total sales amounted to 7s.-
500 shares. a new low record.
Regardless Of this condition, prices held
well
steel, Copper, Reading. and Union held
TO Mondays closing prices.
General Motors closed yesterday at
M1-z gain of seven points in the last
two days. The stock has more than
doubled this year. In January 1t sold as
low as IS.
Chesapeake and ohio gained quar-
ter, closing 521-2.
Missouri Pacific's plight did not mate
rally affect the price. the stock closing
1878
There was nothing in the initial trans
actions that held out any hope of relief
from the present dullness. The market
opened variably changed. but the changes
were all confined to small fractions. In
the second hour generally hard tone de-
vsloped. and prices advanced a little, but.
except in the case of some specialties.
like General Motors, the advance was
unimportant
The engagement of 100000 of gold
in all for export by today's steamer, fall
ed to produce my effect either on the
money or the stock market.
The market in the afternoon was steady
but very dull.
Local stock Market.
Mergenthaler furnished the principal
strength to the local stock market yes
terday. Thirty-six shares of the stock
sold 216 nSa2l6 IL. Lanston sold ten
shares at So Ia
Washington Gas sold twenty-three
shares at n IA.
Bond sales were { nfifined to one 5000,
Potomac Electric Consolidated SIS at 90 3-i-
Several attempts to organize sunshine
movement have failed in the last year,
but on the theory that it is a long lane
without a turn the attempt is being made
again at this time by brokers and others
who feel that with good crops and a
rate increase among the possibilities the
chief trouble with business just now is
lack fconfidence-
Every one says that conditions are
fundamentally sound. and that business
should improve, but the change is slow
in coming. There has been a better tone
to the news of the last few days, and
whatever may develop I'VE are six
months nearer a trade revival" as a
prominent capitalist said the other day
in making what was intended to be an
optimistic utterance.
H. & T.. Extension.
The Hagerstown and Frederick Rail-
way Company has arranged to purchase
the Frostburg Illuminating and Manufac-
turing Company, which supplies cleo
tricity to Frostburg and vicinity. This
deal soon will be placed before the public
service commission of Maryland.
1t also is negotiating for a water power
development of $1,000 horsepower capacity
near Cumberland. The company is unde-
cided whether to buy this development
or to build a large power plant at Cum
berland and furnish the current through
transmission lines to its customers in |
Allegany County. With the consumma-
tion of these deals, on which the counsel |
for the company are now at work. the |
company will occupy the public service |
field in the whole of the Western Mary |
land counties.
v. R. Il j. Earnings.
Based on the earnings for the ten |
months of the fiscal year ended April 90 |
1914. Virginia Railway and Power should /
earn about SIS per cent on its 81, ,s4s. 200 |
of common stock, on which semi-annual |
dividends of 1-2 per cent are being paid. |
We're si,2s4,osl, an increase of s256.S27
Net earnings were s2,151.73, an increase
of S136 Al, while the surplus after charges
was SS7s,570, an increase of 81. .941, or Ala
per cent over the ten months ended
April 30 1873 For the ten months sur
plus earnings were at an annual rate of
$50 per cent on the common stock. while
based on the gain in surplus for the ten
months the company should increase its
1914 surplus s42,77s over that Of 1913 when
It was s1,033. .3N.
This would indicate a surplus for the
current fiscaY year of S.076,100. from
which preferred dividends of s3s4, $50
would be deducted, leaving a balance
equivalent to $40 per cent 'on the COM
mon stock.
The operating and traffic departments
Of the Southern are receiving praise for
the exceptional manner in which they
handled the recent meeting of the
Shriners in Atlanta. It required the
movement of 4S special trains into the
city and 35 in the opposite direction. in
addition to many extra sections of regu-
lar vains and extra equipment. All this
was handled without the slightest mis-
hap, and all trains arrived and departed
on practically schedule time.
The total passenger movement involved
was the largest In the history of the
occupied by no less than 150 Puilmans.
In which from 5000 to 1000 Shriners lived
during their stay, having all the COM
forts and conveniences of modern hotels.
1t is thought that the large Southern
cities will secure many meetings. of big
conventions as result of this service.
At a special meeting of the board of
directors of the Maryland National Bank
Of Baltimore, held in that city yesterday,
an offer from the National Bank of Com
merce to purchase the bank was pre-
sented to the meeting and the board of
directors decided to recommend to the
stockholders its acceptance.
This offer is to take the entire issue
Of 5000 shares of stock of the Maryland
National Bank. par value $40, and pay
for same at the rate of .sss share, less
q slight deduction for the expenses in
connection with the matter
There has been. expended to date in the
purchase and construction Of the Panama
Canal $ss1. 45.0oo and the expenditures
have been classified to February 1: Civil Il
administration. Sc, $50 s5s; law, $56, ,aa2; sani-
tation, SIG s61 623: construction, Slss ss7. lss:
s4.1is. 400; general items, SSs,-
l5S44s. Total ssH.sa.o15. Il
The latest rumor relative to the half
Interest of the Chesapeake and Ohio in the
Kanawha and Michigan is that IL may be
Captured by the virginian road instead of
going to the Lake Shore, as has been
anticipated. /,