The Washington herald., 1914-01-28
STOCK MARKET
REACTION SLIGHT
Liquidating Sales Appear
Easily Absorbed in New
York Stock Exchange.
LOCAL TRUST EARNINGS
Southern Railroads Revenues and Ex-
penses-Practcally All National
Banks to Enter New System.
LOCAL TRUST EARNINGS
BY W. sTEALEY.

BY w. sTEALEY.
Stock prices On the New York Stocl
Exchange yesterday held well. Their
were a number of losses during the day
but they were not OF a nature to Civ
much encouragement to the bears.
Interest centered in Steel, owing to tn
report which was issued after the clos
Of the market. 1t showed earnings 70
the December quarter of SO, 036.Sis
against SIS. $4,000 in the September 3otl
quarter The report is not regarded a
unfavorable, as the figures would indi
cate. II was discounted in large meas
ure. The regular dividend was declared
The stock yesterday closed at 66 IA,
fraction off the opening price.
The fortnightly settlement now unde
way in London disclosed the fact tha
the supply Of American rails at tha
center was abnormally small This en-
couraged London buying to an unusual
degree.
Union Pacific again touched 162 IL, a
point at which an unlimited supply ap-
pears to be for sale. December earn
ings OF this road showing decrease OF
$4,000 in net brought decline in the
shares to $50 81. The price recovered
in the late dealings to I6l 81
Reading rivets the attention of spec
ulators. Neglected for the greater part
of the day, the stock closed at 16s.
Southern Pacific lost I-2 a point on
cumors of damage by foods in California.
Equipment stocks were fractionally
lowerdn spite of the placing CT $500 600
equipment order by the Union Pacific one
Of the largest orders booked for months.
Anaconda Utah Copper and AmalGa-
mated were all purchased fer London ac-
count. Rock Island issues turned weak.
The common declined TO 10 IA and the
preferred to % 81. Rock Island COLA
teral As were active with further fall
rom 81 IL to 80 I-2
Bonds generally We're strong good
demand was noted for municipal issues
Money rates were universally easy.
Berlin was reported as loaning money on
call at / per cent Funds were renewed
IN New York at = rs per cent with an
abundant supply for money for fixed
dates
Further shipments Of gold to Paris are
anticipated, but the movement does not
cause uneasiness.
b. & o. Stock.
Baltimore and Ohio's rise is attributed
to the belief that the distribution of
Union Pacific's holdings of the stock will
result in greatly increasing the supply of
Baltimore d Ohio af1oat in the Street.
Not many of the traders sell Baltimore
& Ohio short on the argument regarding
the present poor earnings, being deferred
from so doing by the possibility that
business might improve, or the position
OF the road be strengthened through the
granting OF the demand for an increase
of rates.
Yesterday the stock closed at 81 is. one
point of the closing price Ct Monday
Officials of the B. & o. deny the report
That the company has been a seller If
Reading.
Local stock Market.
Prices on the Washington Stock Ex-
change differed little from those of
Monday. There was a marked improve
ment, however. in the volume of trade
Bond sales aggregated $500, 26i shares
OF stock We're sold.
Seven thousand dollars in Washington
Railway and Electric Is at 50, and $500
In Capital Traction IS at los "a were the
largest transactions in the bond list. Two
thousand dollars Potomac Consolidated
IS sold at 100. and one $1,000 Norfolk and
Washington Steamboat los.
There. was a renewal of interest in Nor
folk and Washington, fifty-five shares of
the stock selling lS7a1s0. Forty-five shares |
of CapitalN Traction sold l13 I-2a1l4. |
Twenty-Five shares of Washington Rail- !
way and Electric common sold at 90 /
Eight shares of the preferred sold at the |
same price. Thirty-seven shares of Ma
tional Savings and Trust sold at 10, !
thirty shares of Nationa! Metropolitan |
Bank 19OalsO IL eight shares of Union |
Trust 132 SIS.
Seven shares of Mereenthaler were sold
at rs 1-2.
Trust Earnings Compared.
4 comparative statement of the earn
ings and expenses of the trust companies
Of the District of Columbia for the year
1913 is as follows:
National Savings and Trust
Co --.-----:-----.--....---- SCI .ios.5 Sis. ssE
Washington Loan and Trust
Co. aoJ1C7 "a ls9 2lI o
American Security and Trust
20. ----.-.-..---.--.....-..-.. as 2lsi6 aB l6iO6
Continental Trust Con-. 17e.5lO SiaO6
Jnfon Iruss Co.-.----.-....- -2sl-7a-9 1919 30
Net earnings net earnings.
National Savings and Tuis. sa5. i21os 9a per cent
Wash. Loan and Trust. Isl isees 1914 per cent
Amer. Security and Trust. sH054.B l26 per cent
sentimental Trust S.o9o.a a7n per cent
Union Trust ..--.-..-.-.- l3S640.5q SIS per cent
Pennsy Fire Losses.
Reports compiled by the Pennsylvania
Railroad show a fire loss on its propertyl
for the year OF s271, 2SS, the smallest loss,
with the exception of that in 1904 in the
,ast thirty-five years. To protect its own
md shippers property the road has
greatly enlarged its fire fighting system
md improved its method Of inspection.
With the result that many fires havet
been extinguished at their very start by
employees.
Southern Decrease small.
The Southern Railway reports for the
ax months, July-December. inclusive, as
ollows:
perzting revenue. Sc 8524 Inc 81 lis r55
'peratins e1penses-.--.--. a.sso.s5 Inc l.8ssl q
Net operating rercnuc. sll.z4.ss Dec. apns
utside oper.-net revenue 42Is Inc 1855
Total net rrrenue........ sn.H7.as, Dec s,i2.a
axes --.-.-...--.-----.-.--.. l3e. SIS Inc 6e6l6 a
Operating income........ Sio.losoo7 Dec slsl, 4o
Hamilton for Commission.
According to the view of George e.
Hamilton. president of the Capital Trac-
on Company, expressed by him in a re- :
emit report to the stockholders, the crea-
on Of the District Public Utilities Com
Mission is likely to be of benefit to the =
ailroads as well as to the people.
The enactment of this law" said Mr..
hamilton, Introduces q new order into
he management and operation of serv-
e corporations, but public regulation, cr
Fen though rigid, IL fair and reasonable u
nd prudently directed. is of benefit and q
as well to the subjects of reg n
lation as to the people, and it is hoped y
a ~k1r7 H. -