The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-04-17
STOCK MARKET
Changes Slight
Mixed Day in Wall Street with
Bearish Sentiment
Predominating.
W. M. R. MAKES REPORT
Arlington Corporation Representatives
Here's. A. L. Shows Con-
tinued Increase.
BY w, STEALEY.

The New York Stock Market yester-
day closed with-only fractional changes
from Wednesday.
Gains and losses were divided about
equally. Steel closed at IS "a, a gain of
1-2 point. Copper, Reading and Northern
also had slight advances. Union, Hi
nois Central, Norfolk and Western and
Baltimore and Ohio declined. New York
Central touched IS IL, the lowest in
years, but rallied to IS.
Bearish sentiment generally pervaded
the market. Discouraging trade condi-
tions were more of a bear factor than
the Mexican situation.
Local Stock Exchange.
Forty-aye shares of stock and one
$1,000 bond was the extent of the trad
ing on the Washington Stock Exchange
yesterday.
Twenty-Five shares of Capital Traction
brought 1007-s. At close 1ol 1-2 was
asked for the stock. Railway Preferred
sixteen shares, brought So 5-S Three
shares of Mergenthaler sold for IA "a.
A Railway brought S21+
ConsoI Trade Inactive.
1t has been suggested that the chance
of intervention in Mexico and the con-
sequent possibility Of a new government
bond issue are accountable in part for the
apathetic condition of the government
bond market. 1t is not thought that any
new bonds would bear the circulation
privilege and, accordingly. that such bonds
must bear at least , per cent, and, per-
haps, as much as per cent interest. A
great deal would depend on the maturity
of the bonds, whether they bore a fixed
maturity date as did the Spanish war
issue or were eternity bonds, like most of
the other government issues. A sale
would provide an interesting test of the
ability of the government to finance its
requirements cheaply under the new cur
rency law. The chance of such a test
probably has had some effect in restrict
ing the demand for consols.
w. NJ. r. Ry. Earnings.
Western Maryland Railways report of
net earnings for February, and for eight
months ended February IS, presents an
extremely discouraging appearance I'M
less the detailed causes which led up TO
he big decreases are understood
For instance, in February the company
reported a deficit Of S32S, 900 after deduc-
ton of operating expenses and taxes
against a credit balance of $4,000 in
February a year ago But in February.
1913, the management extended only |
ASS,000 on maintenance of way, struc-
lures, and equipment, while in the same |
month of 1914 expenditures for these pur-
poses totaled 1890, 90, an increase of $780, |
100, or over 80 per cent. Gross for the |
month showed a decrease of only $, Zoo, |
and transportation expenses increased |
only $4,000 so that it appears that the |
decrease of S422, 900 in February's net |
revenues was almost wholly on account |
Of the heavier upkeep charges.
To certain extent this is true of the |
eight months operating results which |
as reported, show an increase of $3.50 |
in gross revenue, but decrease of $7I7.- |
900 in net revenues after taxes In this |
period upkeep expenditures show an in
crease of s637,OOO as compared with the
same period of last year, but transporta-
ton expenses show the heavy increase
Of $475,OO0. almost offsetting the advan-
age of the periods gain in gross.