The Washington herald., 1914-07-21
PRICES DECLINE
ON RATE RUMOR
Leading Issues on New York
Stock Exchange Again
Show Losses.
B. & O. Is FREE AGAIN
Union Pacific -Reinquishes Grip on
Local Line-Old Maryland Com
pany Reorganizes.
B. & O. IS FREE AGAIN
BY w. sTEALEY.

BY w. sTEALET.
Leading issues in the New York Stool
Exchange yesterday showed fractiOna
decline
Steel closed eOI-S, OF Ia; Reading ls1
on S-s, and Copper So, of Ia Baltimore
and Ohio sustained loss of two points
closing 81 3-s.
Union Pacific was the feature of the
market owing to the distribution Of Bal
ttmore and Ohio shares held by Union
Pacific. The dividend represented 30 /:
points Union Pacific closed 19s Is. rep.
resenting a slight loss. e
Foreign selling. which was the feature
Of the market last week, continued a
depressing factor.
Influenced by unfavoFable forecasts Of
the coming rate decision the market
opened lower. although prices were well
above the London quotations. Pressure
was exerted against those roads, which
are specially affected by any change in
rates namely, New York Central, Balti-
more and Ohio, Pennsylvania and Erie
all Of which have been under pressure.
New Haven. which was SO strong Sat
urday, lost about l 1-2 points in the first
few transactions. The market as a whole
was dull and uninteresting and auctUa-
hons were without significance and in
34cated no general tendency.
BocaI stock Market.
Trading on the Washington Stock Ex-
change yesterday continued in light vol
ume.
The stock list was confined to Railway
Common, seventy-ive shares Of which
sold at 81 IS and twenty-five shares at
81 81
. Potomac Electric Consolidated IS sold
5000 at 10O1-2.
For Capital Traction sS "a was bid
% S-4 asked; Railway preferred s. bid, s.
asked, and Washington Gas 76 bid, rs 7-S
asked
Maryland Company ReorgnnIEes.
An important reorganization both from
a financial and operating standpoint. was
effected yesterday by the Poole Engineer
ing and Machinery Company, at Wood
berry, Nd. which has existed since 1913.
1t covers with its plant an area of
twenty acres. and has on hand some big
contracts from the government and
private concerns.
The main effect OF the reorganization
is the election to the presidency OF the
Poole Company of s. Proctor Brady.
for many years the directing head Of the
Baltimore and Fidelity Warehouse Com
pany, connected with the terminal facill-
ties OF the Western Maryland Railroad.
Mr. Brady yesterday became president of
the reorganized Poole & Hunt concern.
The other new officers are: Vice presi-
dent, German H. H. Emory; treasurer.
Robert P. Simpson; secretary, John a.
Tinney.
L. C. c. Railway Statistics.
Advance figures compiled by the Inter
state Commerce Commission from
monthly reports or revenues and eX-
penses of steam roads in the United
States for May, 1914, show: Average
number OF miles operated. 225,S5s; total
operating revenue, S2S2, ,5SI, s3s; total
operating expenses. s176. .G29. $40; railway
tax accruaIs, SllsO5,po9: railway operating
Income. S44.446S55. Eastern district mile
age. $3.50: total operating revenues. tl03-
16,1 1SS: total operating expenses, SS0,1E,
S92; taxes, s4,SS2, ,lS4; operating income,
slS,561, ,2oO; Southern district mileage, a.
or; total operating revenues. 37052, $50;
total operating expenses, S23.162077; taxes.
H.5S7,576; operating income. S.s5l. So.
Western district mileage. 125.2S1; total
operating revenues, S9l, 76s. 4ls; total
operating expenses, 67.Il9.9s9: taxes,
s, ,4S5, 24S: operating income. $13, $50, TS.
Bank Publicity officials.
B. Wilson, manager Of the advertis-
ing department OF the BANKERS Trust
Company, has been elected president of
the Bank Publicity Association. Fred
w. Ellsworth, Of the Guaranty Trust
Company, was chosen az vice president:
Horace Anderson, assistant secretary OF
the Title Guarantee and Trust Company
treasurer. and W. A. Allen, secretary.
The directors in addition to the execu-
tive officers include Ebert A. Bennett
of the American Exchange National
Bank; Harris A. Dunn, treasurer of the
Columbia Knickerbocker Trust Company:
n. P. Catling Chatham and Phenix Ma
tional Bank: W. NJ. Haines, Citizens
Central National Bank; w. E. Purdy,
Chase National Bank. and William ].
wason, jr., Kings County Trust Com
pany.
The Seaboard Air Line preferred re-
ports for the eleven months of the fiscal
year are as follows:
8. A. l.. shows Gains.
The Seaboard Air Line Railway reports
for the eleven months of the fiscal year
as follows: