The Washington herald., 1914-01-18
STOCK MARKET
CLOSES STEADY
Sales Are Few and Fluctua-
tons in Narrow Range
Throughout Day.
LOCAL 'CHANGE Is DULL
Consolidated Coal Company Shows
Increase -Pennsylvania Re-
port Indicates Gain.
LOCAL CHANGE IS DULL
By w. sTEALEY.

The New York stock market yesterday
osuieted down considerably. The sales
2E7,ooo, were the smallest of the week.
The market evidently felt the weight
of the heavy profit taking Of Thursday
and Friday.
There was no weakness. and liquida-
tion was at no time heavy. buying on the
recessions being quite sufficient to take
care Of profit-taking, and losses as rule
were confined to small fractions.
Canadian Pacific from the start was an
exception to the general tendency and
ruled strong all day. Europe shows a
disposition to buy back some OF the stock
which it kept selling for SO long, and the
main support came from that quarter.
Foreign bourses continue to show a NOR,
cheerful tone, being influenced by the
continued relaxation in the foreign money
markets.
Canadian Pacific went as high as 2l2 -,
closing at III "a.
There was considerable trading In
Reading. the stock closing firm at 1ss S-s.
Steel closed at its opening price, g. L.
Local stock Market.
One $1,000 Washington Railway and
Electric sold in the Washington Stock
Exchange yesterday at so. A $1,000 Of
ropolitan Railway 81. 900 5 brought 1861.
The stock list did not show great activ-
ity. Thirty-two shares of Washington
Railway and Electric preferred sold at
80: sixteen Washington Gas, Sk: three
Mergenthaler, 21314; three Lanston, 81,
and three Norfolk and Washington
Steamboat. 1884,
Higher Mail Pay Wanted.
The Kansas City Southern Railway
Company has circularized its stockhold-
ers asking for their help in the move
ment to obtain larger compensation from
the Federal government for mail trans
portation.
The circular points out that in the
fiscal year ended June 30, 1912, 81 per
cent of the space in the company's pas
senger trains was used for mail carry
ing, while the mail payment was only
So per cent of the revenues. or a loss
Of nearly $4,000 to the company. The
stockholders are asked to write their
Congressman pointing out. the unfair
treatment accorded the railroads.
Nicholson Bra arch Decision.
The Maryland Court of Appeals has
upheld the opinion of Circuit Court No.
. in the action of the Public Service
Commission to compel the Philadelphia,
Baltimore and Washington Railroad
Company to rebuild and operate what
is known as the Nicholson Branch of the
Kent County Railroad. BY the decree
of the lower court the commission was
enjoined from forcing its order. The
Nicholson Branch was abandoned in 1897.
Consolidated Coal Report.
The report of the Baltimore Consolida
ton Coal Co. for the past year is being
prepared. 1t is learned that il will show
the company's output of coal in 1918 to
have been about 1l,2J0.0oO tons, about
100000 tons more than in 1872. The net
surplus earnings after providing for
sinking funds, interest. taxes. etc, but
not including dividends. will be about
s2,5o0,oo0.
Showing of Pensylvania.
The Pennsylvania system lines East
and West showed, in round figures a
gain of SIS, $4,000 in gross for the first
eleven months of 1912, an increase of
81, 900 in operating expenses. includ
ing taxes, and a decrease of SO, 100000 in
net. The increase in gross was little
more than 5 1-2 per cent, the advance in
operating expenses over II per cent and
the loss in net nearly IA per cent.