The Washington herald., 1914-03-22
STOCK MARKET
SHOWS LOSSES
New York Prices Close Frac-
tionally Off, Due to
Pro6t-taking.
RAILWAY STOCK BOOSTED
Utilities Commissions Bill Has Re
verse Efect-Franklin National
Organizers Grat6ed.
By w. STEALEY.


At the opening the New York stock
market was active with an improving
tendency, and during the first half hour
pretty much everything on the list moved
upward with a good deal of uniformity.
Considerable proft-taking was encoun-
tered on the advance and before long the
list began to hesitate. This profit-taking
increased and a very general reaction
set in, in which all of the earlier gain was
lost and even more, so that stocks as a
rule showed net fractional declines on
the day.
There was no liquidation of Importance.
Steel, Copper, Union. and Reading
closed fractionally lower than Friday.
Local stock Market.
REGARDLESS of the attitude Of the Public
Utilities commission toward the Washing
ten Railway and Electric Company, the
stocks of the company were bid up on
the local stock exchange yesterday. The
common. for which 81 was bid Friday.
was boosted to 30 and the preferred to g.
The common was offered at 50, the, pre-
ferred at SO. There were no sales.
The principal trading yesterday was In
Washington Gas, for which s. IL was Of
fered Friday. One share of the stock
sold at 50 1-2, fifty-eight shares at 81 and
twenty-five shares at s. L.
Twenty shares of Federal National
Bank brought 135, nine shares of Capital
Traction 100.
Bond trading continued light two $1,000
Potomac Electrir Consolidated 5s selling
at lO01-4.
Voice Near the Throne.
Niddendorf, Williams and Company. of
Baltimore, in a circular issued yesterday,
say:
- A. ,;..,. ,s..-. then opo war that
the present administration has been in
power, it has achieved a splendid record.
Revision of the tariff downward. mod
ern banking and currency system have
been enacted and even those not In
sympathy with the Democratic power
concede no other President has accom-
plished so much in such brief period.
Other wise laws have been passed, and
the business interests of the country
looks to the administration for further
relief. This relief will come when the
railroads are granted "a living wage"
The longer the rate advance is delayed
the more serious will become the position
of the railroads and the handicap on
business will remain. Now is the time to
sanction the higher freight rate, and the
uncertainty and break the chain that
holds business in restraint.
THE whole business community has its
ear to the ground, waiting patiently for
the word that the Interstate Commerce
Commission has granted the increase
and signaled for trade to go ahead. II
would be a pity if the public held the
administration responsible Tor what 1t
believes is the dilatory tactics of the 1.
c. c. but the public is tickle and often
is more prone TO lay blame than it is to
give credit.
Southern Block System.
Automatic electric block signals i'm
mediately will be installed by the South
ern Railway on the double track line be-
tween Knoxville and Morristown. a dis
tance of fOrty-two miles, and one of the
most important lines on the Southern
Railway system, as over it are handled
the through trains between Memphis.
Washington and New York, between
New Orleans, Birmingham. Chattanooga,
Washington and New York, and a large
part of the travel to Asheville and other
Carolina resorts.
The system will be of the most modern
type and will greatly facilitate and safe
guard traffic. 1t will be similar to that
between Greensboro and Charlotte, and
now being installed in Virginia between
Alexandria and Orange.
Semaphore signals will be erected at
intervals of about two miles.
Ohio Utility Appraisement.
The Ohio Public Utilities Comission
has issued an order for a general ap-
praisement of public utility corporations
of the State. Steam railroads. messen-
ger, signal, sleeping car. express, tele-
graph and water transportation compa-
nies doing an interstate business are ex-
cluded from the order. The appraisementl
is to be made by the companies as of
date of July l, 1914. and schedules are to
be filed with the commission as soon
after that date as possible by all tele-
phone, traction, electric light and power,
water works, street railway and other
utility corporations doing business in
Ohio. The reports will be published by
the commission when completed.
Franklin National Bank.
Organizers of the proposed Franklin
National Bank at Tenth street and Penn
sylvania avenue announce that the stock
has been sold and the property will be
taken over within a short while.
Washington merchants and other busi-
ness men have subscribed largely to the
stock.
The officers and directors probably will
be announced this week. and 1t is ex-
pected the new bank will be in operation
at an early date. BI
Col. R. S. Turk is enthusiastic at the
encouragement given the project.
The report of the Baltimore, Chesa-
peake and Atlantic Railway for the year
ended December 81, 1913, shows the
amount to credit of profit and loss on
December 81, 1912, was s270, ,20S; debit bal
ance Of income for the year, ss6, SIG; SUM-
dry net debts during the year s72, 037,
leaving the amount to credit Of profit and
loss on December 81, 1913, s111.6lS.
Louisville and Nashville earnings for
the second week in March: Decrease,
s67,97o. From July ], increase, ssl9,474.
Norfolk and Western directors meet in
Philadelphia Wednesday.
COBALT STOCKS.