The Washington herald., 1914-04-03
STOCK MARKET
Holds Strength
Union Pacific Makes Gain on
New York Supreme
Court Decision.
BELL & co. WILL CLOSE
Old Banking Firm to Go Out of Busi-
ness-C. & O.'s Report for
Eight Months.
By w. sTEALEY.

Hone of an early decision from the In
terstate Commerce Commission gave an
improved tone on the New York Stock
Exchange yesterday. Steel closed e5sS'
Reading 166. Copper m.
Missouri Pacific, on rumors OF new
ownership, went to ISIS. but closed at q.
The most important news yesterday from
a market standpoint was the denial OF
the motion of the Equitable Life Assur-
ance Society to prevent the Union Pacihc
from distributing its holdings of Balti-
more and Ohio stock by Justice Green
baum, of the New York Supreme Court
On this Union went up to 1607s.
As Union went up Baltimore and Ohio
declined to Ssls. on the theory that a
good deal of that stock which is now
locked up in the Union Pacific treasury
would come on the market. The stock
rallied. closing at SSi1.
The news in Copper circles and in
Steel circles, which generally more or
less resemble one another, are entirely
different, the Copper reports being op-
timistic, while those OF Steel are as bad
as it is possible for them to be. and so
far even the improved sentiment in re-
gard to the probable decision by the
Interstate Commerce Commission in the
rate case. which would mean better
consumption demand for steel by the
railroads had had no OBJECT on improv-
continue to fall of, and a heavy curtail-
ment in production is almost certain this
month.
Local stock Market.
Three shares of Capital Traction Com
pany sold at 101 on the Washington Stock
Exchange yesterday. Fifty shares sold
l01 1-2a1O2.
There was no trading in railway stock.
Four 81. 900 Is of the company sold at s.
One 81 900 Columbia Railroad IS brought
I01 IA One 500 Washington Gas IS. 1o7 3-i.
A share of Mergenthaler. brought
H43+
Bell 4 Co. to Close.
It was announced yesterday that Bell
& Co., which for thirty-three years has
been in the banking business here. will
be discontinued.
The firm includes Charles ]. Bell, presi-
dent of the American Security and Trust;
George w. Brown, of Fitch, Fox &
Brown, and William Ker-
The firm sends out the following letter:
Having determined to retire from the
banking business we hereby give notice
that we will receive no more deposits
after May 10. 1914 We request that our
depositors have their bankbooks balanced
and close their accounts before the date
named. and that all persons having Sc
curities or notes on collection in our in
stitution withdraw same.
We further request that all persons
whose notes are held by us will ar
range to make full settlement at ma
turity.
While we will case transacting bank
ing business on the date named. we will
continue our firm relations until We can
realize on our assets and close up the
business
I'VE should be glad to have you trans
fer your account to the American Secur-
ity and Trust Company, and for this pur-
pose enclose you a paper authorizing
us to make the transfer for you. On
receipt of this order, signed and wit
messed. We will transfer your balance and
obtain a handbook and checkbook of the
American Security and Trust Company.
which will be handed to you"
Chesapeake and Ohio.
The Chesapeake and Ohio reports for
the month of February decrease of S5Ss.
IA in gross from last year and de-
crease of S330.3O9 in net. For the eight
completed months Of the fiscal year. gross
increased $4S1 606 and net decreased ga
4O2 The statement compares as follows
with previous years: