The Washington herald., 1914-03-12
STOCK MARKET
SHOWS DECLINE
Undertone Improved, How
ever, by Reason Of N. Y.
Central Dividend.
ODELL TALKS ON COTTON
Commercial Agent Discusses Foreign
Markets-Garrett May Lead
Pere Marquette.
ODELL TALKS on COTTON
By w. STEALEN.

by w. STEALEN.t
The declaration of the regular divi-
demo on New iork Central of Ia for
the quarter and the raising Of the divi-
dend on Western Union to regular per
cen basis per annum together with the
announcement of the American Tobacco
Company's plan for distributing its $50.
goo shares of the ''B" stock of the I'M
perial Tobacco Company, were the most
important news items which developed on
The New York Stock Exchange of a
character calculated TO stimulate specu-
lative sentiment
On the other hand was the fresh
liquidation which appeared in Missouri
Pacific and Denver preferred. sending
those stocks to new low record prices
with Sugar. which broke nearly !; points
to "a l-2 on its Dad annual report.
The recent bad report of the New Yoriz
Central had Ted many to believe that
there might be a reduction in dividend.
and when the favorable announcement
was made the market assumed a strong
eT tone than at the opening.
Losses. however, occurred throughout
the entire list. Steel closed at Gi 5-S, frac-
tionaIly of. Reading lost a point. clos
ing at les. Baltimore and Ohio and
Chesapeake and Ohio both lost frac-
tiOnally. United States Express was
steady at SI-:.
Ln-ai Stock Exchange.
Eight N.GOO Capital Traction IS sold
in tine Washington Stock Exchange yes
tcrday AT l0H - One share of the stock
of the company sold ut IlO.
One $l,CJ0 hailwa: Is brought 81. one
sea bond or the same company brought
s. L.. Fifty shares of the common stock
brought 81, and six @hares. 81 l-2.
In bank stock ten shaIcs Of National
Bank OF Washington sold at go and two
sharcj OF American Security and Trust.
295.
MerSen;ha!cr sold five shares at 2I6 81
Washington Gas to the extent Of ten
shares brought 81.
Cotton Samples Displayed.
Ralph NJ OdeIl. sp- cial agent Of the
Department of Commerce in the study
oc market conditions for cotton goods,
has completed an exhibition Of samples
for the secOnd period of two weeks at
the Now York Custom House.
After n brief interval the National Cot
ton Manufacturers Association which
meets a: Boston this year. will have an
opporturity to study this valuable col
lection of samples. which Mr.. Odell
brought back from tine Near East and
Africa.
In discussing the requirements for
American success in these foreign mar
Eets. he says: Suitable marketing ma
Chinery seems to be the most needful
thing to push our commodities in the
territory covered by these samples.
7 do not mean to undervafue attention
Il widths. styles and quality generally.
But tn emphasis should bc laid on a
more direct trade relations between the
producer here and the distributor abroad.
There should be more adaptation 10 the
desires and the conditions at the buying
side 0oG the market"
Garrett May Re President.
". y. Garrett, former president of
the Scaboard Air Line Railway. new vice
president of the Chicago and Northwest
cIn Railroad. has been chosen chairman
OF the board of directors of the Pere
Marquette Railway. and it is understood
he may later be elected president.
Carl r. Ora was formally inducted
into ufIiue as president and as chair
ern Maryland Railway directors, held
yesterday. The board commissioned him
TO take immediate charge of the prop
erty in both executive capacities. His
permanent headquarters will be in Balti-
more.
G 7. Cranmer has been appointed resi-
dent manager of the American Audit
Company, Of New York, and is in charge
OF the Washington office in the Colorado
Building. Mr.. Cranmer has been con-
nected with the Washington office for the
last nine years.
Official circulars from freight traffic de-
partment of the Now York Central an
noUncr the promotion of Ira II. Bubbell
10 assistant freight traffic manager to
fill tn" vacancy caused by the sudden
death Of Herbert u. Carter.
The Augusta Cotton Exchange has
passed resolutions inviting in convention
all Southern exchanges, together with
delegates from New York Cotton Ex-
rhanEe TO discuss rules and regulations
to the cotton trade at large,
both spots and futures. Date TO We
named later
w. W. Warwick. Assistant Controller
of the Treasury. w. A. Harding. expert
accounting officer, and J. L. Beatty, audi
tor for the War Department, leave for
Panama Friday to inaugurate a new ac-
system for the Canal Zone,
which will go into effect on April 1.
In order to stop the waste found in the
of timetable folders on the
Baltimore and Ohio, Southern. and the
Hamilton and Dayton, a new
method OF numbering has been adopted,
changes being made only when new
schedules are rut into effect