Evening star., 1915-02-09

Il
cost to the company of s4o,54s, which
falls on the shareholders.
The Bemis Company is making the
appraisement for the utilities commits
physical valuation will take consider
able money out of the District in one
way and another.
Mergenthaler.
from day to day in the action Of Mer-
genthaler Linotype Company's stock in
the Boston market, where the minimum
price protection has been removed.
Yesterday forty-nine shares sold at
16o to 15+. This morning the stock
sold at 100 and was offered at that
price.
The publication of these figures is
made on the assumption that share
holders would prefer to know the
actual market value of their securities
rather than to fool themselves with a
minimum price quotation 80 points
away from actual values.
Treasury Statistics.
Disbursements by the Treasury De-
partment for February exceeded the
receipts by s1,545.3s2, making the def
cit for the fiscal year to date $685.
2s0 as compared with s41.35s,s62 for
the corresponding date of the previous
fiscal year.
The Cotton Pool.
While the cotton pool is generally
believed to have been declared off. 1t
seems the subscribers thereto are still
liable to be called upon, if deemed
necessary by the committee. Secretary
McAdoo has issued a new circular to
contributors to the pool announcing
that borrowers have availed them
selves of the privilege to the extent OF
S2S.000. This sum the pool managers
borrowed. as stated before, from New
York banks. '7i'-
If all the loans are paid.' says the
Secretary lit will probably be unnec-
essary to make call on class A sub
scribers- We beg TO remind subscr1b-
ers, however, that they remain liable
upon their subscriptions to the extent
of the sums loaned. payment of which
the committee must reserve the right
to call at any time.
The circular continues:
While the per cent guarantee fund
contributed by the borrowers to cover
expenses and losses was entirely in
sufficient to meet the expenses of the
cotton loan committee. the application
thereof to such expenses would have
made the cost of such loan to the bor-
rowers SO much greater than antici-
pated that, with the sanction of the
central committee, the cotton loan COM
mIttee has returned to the borrowers
the amounts contributed by them. The
members of the cotton loan committee
have. however. relieved the central
CoFrr1ittee of any embarrassment in
this connection by each member there
o. assuming his own expenses which,
- involved the entire expense con-
"-Hd with preparations for and the
7'led administration of the fund
7t--=~s Rushryo-e, Bisbee and Stern
lave made no charge for their
"es and, so far as this committee
'Sed all state and local commit
Have bo-ne their own expenses
THi~ practically means the end of the
rn~'- Co sufficient collateral was pu,
up hv the borrowers and the price OF
cotton has also advanced. so as te
make the loans easily liquidated.
Washington Securities.
Prices of Washington securities
shown at todays session of the Wash
ington Stock Exchange, were inclined
TO little weakness. although this wa.
not pronounced enough to make fol
other than slight price reces.ions
Washington Gas shares sold at 73A. &
loss OF two points in week. Wash
ington Railway and Electric preferred
sold at SAX. while the rest of the trad
ing in stocks was limited to two share,
of Capital Traction at s.
Bonds showed a steady tone, will
sales at 993s for Potomac Consolidated
IS. 10ii. for Washington Gas SIS ans
81 for Railway and Electric As
Financial Notes.
The directors of the Canadian Pacifi,
Railroad Company have declared tn,
usual 2iz per cent quarterly dividend o,
the common stock and 2 per cent semi
annual dividend on the preferred shares
payable April 1. The heavily decreased
earnings had caused shareholders I,
fear for their dividends
Missouri Pacific Railroad Conpan,
furnishes an encouraging report. Mop
showed an increase In operating reyenu
IN December of s1S7.20 and of 1885. %
Tor six months: IL was not made AZ IN.
expense Of maintenance account. either
ROCK Island showed loss Of s24s O4
IN operating revenue for December a
compared with the returns for Decem
Der. 1913 and for six months Of 1914 ,
decrease of but $f7,s36. and with al
increase in expenses in every iteu
Losses of freight and passenger reye
t21