The Washington herald., 1914-02-26
STOCK MARKET
AGAIN DECLINES
Mexican Situation Believed
Responsible for Unsettled
Wall Street Condition.
POOR REPORT OF B. & O.
President Vance. of W. B. & A. R. R.
Predicts Prosperity-Pleased
with Lines Earnings.
POOR REPORT OF B. & O.
By w. sTEALEY.

By w. STEALEf-
The New FORK Stock Market yester-
day closed at the days low points. There
was a general decline. most of the pop
uIar shares showing losses OF from one
10 three points
Steel closed at CT is, loss Of / L.
points; Reading at 164 3-4 a less of IA
points; Canadian Pacific at I'll Is a loss
OF . 1-2 points, and Copper was down a
point and 2 fraction.
The agitation of strained conditions
over the Mexican situation was the prin-
cipal cause of the unexpected break in
the market. During the forenoon trading
was very dull with only the low-priced
inactive specialties showing any weak
Eess. Soon after the noon hour however,
the hear element became more aggres-
sive and the way prices for the standard
list slumped under fresh heavy sales, un-
settled the whole market.
The decline has discounted unfavorable
news on the Mexican Situation as well
as unfavorable developments expected at
Paris today from the monthly settle
ments there. Aside from these factors
there is nothing, however, in the general
conditions surrounding the market 10
warrant any further unsettlement
In the meantime, any improvement in
the Mexican situation could easily be
made the basis for a sharp upturn in
the general list.
Local stock Market.
Sales of National Metropolitan Bank
stock was the feature of trading on the
Washington Stock Exchange yesterday.
Fifty-nine shares of the stock sold at
l9O and five shares at 1sS. Bids TO 193 IL
were made, but the stock was held at
200. Sixteen shares of Federal National
Bank stock sold at 1856
The remaining stock transactions in
cluded the sale of twenty-five shares of
Capital Traction at 1Os S-4, twenty shares
Of Washington Gas at 81, and ten shares
of American Graphophone preferred at IS.
Bond sales showed a better result than
mas been obtained in several days. Ten
thousand dollars in Railway As at 81 IA
and 5000 in Potomac Consolidated IS at
100 3-S changed hands
Report of b. q O. Railroad.
The earnings statement for January and
the seven months of the fiscal year of
the Baltimore and Ohio Railroad Com
pany, out yesterday, shows decrease
in operating revenue for the month of
s1,I07,SA. The decrease in operating reve-
nues for the seven months was s90S, ,21S.
The net operating revenue for January
shows a decrease of s460.915, while for
the seven months the decrease in net
was S1.S9S. .562
On the other hand. expenses during
January show a material decrease. Main
tenance of way and structures decreased
S2S7,7s3. maintenance of equipment fell
off SSS5.644 traffic expenses show a de-
crease of 81, ,S02, and transportation eX-
penses decreased sl0,222 Total operat-
ing expenses for the month decreased
S6469eS.
For the seven months maintenance of
way, structure and equipment show de-
creases aggregating over S1.200.OoO. but
traffic, transportation and general ex-
penses increased over 100000. Total
operating expenses for the seven months
showed an increase of S995,1A
And yet the showing is not so bad as
a decrease in net of over 81, 100000 as
to a decrease of but ,915 for
January. The showing was not unex-
pected. for not a single big road in the
eastern territory is showing increases in
the hoped-for raise in rates from the
Interstate Commerce Commission.
Railroad President Optimistic.
There is no question that conditions
have changed for the better. and in my
opinion the country is at the threshold |
of one of the most prosperous periods in |
its history said George T. Bishop, |
president OF Ine washington BaltlmOre
and Annapolis Electric Railroad, yester- |
day.
"Our railroad is fulfilling the expecta- |
tions, and its management and those |
who have invested in its securities
Gross earnings in January were 10 per
cent ahead of those of the corresponding
month a year ago, and returns thus far |
in February are equally encouraging
The months of January, February, and |
March are the poorest of the year, but |
the returns for nearly two of the three |
months are very encouraging and augur /
well for the remaining months of the |
year.
I'VE have just doubled our freight ter
Ininals in Baltimore and have bought |
three steel passenger cars and two ex-
press cars to meet the increased demand |
upon our facilities. AS I see IL, the out
look is very encouraging. and may add |
this is the view Of bankers and business
men with whom talk"
Alexander Wolf, of the Bank Of Com
merce and Savings tonight will deliver
2 lecture on THE Law OF Negotiable In
Btruments" before the American Institute
ps Banking.
Gross earnings OF the Seaboard Air
Line for the second week of February
were SSSS,17, an increase of S,lL
COBALT STOCKS.