The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-02-08
new Low Level
in ROCK island
Stock Reaches 63A, but Cen
eral List Holds Up Well
Under Pressure.
TABLE OF SHAREHOLDERS
Interesting Compilation Shows In
dividual Control of Corporations
Has Passed.
BY w. sTEALEY.


Rock Island reached record low level
on the New York Stock Exchange yes
terday, touching 63-4. The stock closed
at Ills, a net loss Of over a point for
the day.
: The widespread selling was due to the
statement issued Friday by Phelps,
Dodge & Co, that they were not in
terested as a corporation in the stock.
As individuals, however, the firm is in
terested but the public received the other
impression and acted accordingly.
While the tendency of the general list
was toward lower levels the marke.
held well Steel gained a fraction over
Friday, closing at So Ia Readings fig
ures were unchanged. 1S7 IS. American
Can, Amalgamated Copper and Union
Pacific were of fractionally. New York
Central lost over point, closing at
e01-4 Mexican Petroleum, in which
there has been considerable trading in
the last week, closed at Y, failing to
make its almost daily advances
The break in the oil shares, registered
Friday, was a lively topic. The break
Friday was the first in three months.
Since November the shares have been
advancing steadily. 1t was evident that
the market for oil shares has been heav-
lily over bought and as might have been
expected changes of from 20 to 40 points
were recorded.
Local Stock Market.
The report of the Utility Commission
on the Washington Railway and Electric
Company did not have any material ef-
fort on the stock on the local change
yesterday. Formal announcement of the
"a dividend on the common. and IA
on the preferred was made Two shares
of the preferred sold at 80. There was no
trading in the common, for which 80 "a
g nj he I
sold at 81.
The heaviest trading yesterday was in
Potomac Consolidated IS, 5000 of the
bonds going at 100.
Three hundred shares of East WASH
ington Savings Bank stock sold Is La
Is So
Ten shares of Mergenthaler sold at
2l6 "a, and one share of Georgetown Gas
at rs.
Utilities and w. r.. & Z.
The report of the Public Utilities Com
mission on the Washington Railway and
Electric Company furnished a lively topic
Of discussion in local financial circles
yesterday. In addition to the fact that
only s.ooO,0O0 of the company's bonds,
the Columbia, instead of 100000 ma
ture October ], for the payment Of which
provision has been made, as heretofore
stated, the next date of maturity is 1876,
the Metropolitan IS. This was authorized
under the Mcmillan act when the Rail-
way and Power Company was formed
through the combination of ten public
utilities.
1t also is stated by a director of the
company that the 100000 stock issue
which the commission criticises was to
make payment for the Great Falls prop
erty to be utilized as water-power, and
which was given the subsidiary company
for 81, 900, which, it is declared, is not
an overcharge.
The depreciation account is declared to
be of sufficient amount in comparison
with other corporations.
shareholdcrs' Big Increase.
Recent compilations undertaken with
great care by competent authority show
that numerically shareholders have in
creased more than 10 per cent in five
years and more than 80 per cent in
the decade, while the average holdings
per individual. which amounted to As4
shares in 1906, had decreased to 92.S
shares in 1913.
In other words, corporations no longer
seem to be owned by a handful of great
financiers and rich families, but by
the so-called odd-lot investors There
are estimated to be 100000 shareholders
in America.
,. n. L.. D1S1dend.
The directors of the Seaboard Air Line
have declared a second dividend of / per
cent on the preferred stock, payable Feb
ruary Is. The initial dividend on tie
company's preferred was declared in Oc-
tober and was made payable November
Is. While the directors at that time were
unwilling to go on record as stating that
the preferred had been placed on
per cent annual dividend basis their re-
cent action in declaring a second divi-
dend Of 1 per cent payable February 16
would indicate that such is the present
intention.
Reports of 16S Railroads.
Following are the returns of 16 rail-
road companies in the United States for
the six months ended December 81.
From July to December 81:
mileage dpLl AotUe
Operating revenue. s.. R2.F-D aT.n&.B
Operating upenses......-.. 1.o2as.D %Im.N