The Washington herald., 1916-02-11
.COPPERS Hold
INTEREST HERE
Believed Metals Generally
Will Continue Activity
Started Wednesday.
NEWS OF LOCAL MARKETS
and Washington Steamboat
Company Reports Increased Earn
ings-Ohcers Are Elected.


month of January over those for the
corresponding month of 1915, and a gen.
eral Improvement for the year over the
preceding twelve months, was reported
in the annual statement of General
Manager D. J. Callahan at the annua!
meeting of the stockholders of the Nor
folk and Washington Steamboat Com
pany here yesterday afternoon.
All officers and directors were re-
elected as follows:
President, Levi Woodbury.: vice presi-
dent. Clarence F. Norment; general
manager. D. J. Callahan; secretary
treasurer, Odell s. Smith; directors.
these officers are John Boyd, Daniel
Fraser. Benjamin s. Graves, George W:
Pearson. II. T. Wheeler, N. II. Shea
The general manager re-appointed w.
Riordon as auditor and freight claim
agent and E. B. Bowling as general
agent
Washington Gas was a strong leader
at yesterdays session Of the local ex-
change, selling up to new high point
for the year-76 Tho fiourishing con.
annual report recently published has
stimulated interest In the company's
securities.
Bonds continued in good demand. 5000
Traction IS selling at l07 IA, an advance
of a quarter over the last sale. In two
sales. $1,000 Graphophone first IS sold at
the marketing price, 80. and 5000 Rail
way As at 50 IA.
After close yesterday the following
statement was issued by Hartman and
Co, in New York, and received at the
local offices:
"Today's market at tho outset was
evidently carried along by the strength
displayed in the copper and steel stocks
yesterday. There seemed to be consid-
era bic buying for long account this morn
ing by pools and this stimulated inter
est on the part Of the floor traders. From
what we could learn there was not a
great deal of commission house buying.
We believe tomorrows market will be
marked by some irregularity, inasmuch
as Saturday Is holiday and many stock
operators will not want to go away over
the two days without cleaning up their
We too believe that 1t will
be advisable to take profits on any bulge
tomorrow morning and then await devel-
opments."
Washington traders have manifested
great interest in coppers and steel and
the belief is general that commencing
next week, Teldls RtHbrdlly Will COfnt III
for a continuation of the upturn of Wed
office yesterday read:
Enormous inquiries are in the copper
market for June. July and August deliv-
cry. one important interest is quoting
q IA cents for the earlier month and q
cents for July and August. There is a
demand for April and May
copper with only a small amount avail
no
this morning for April with May held
at about q 3-4.
Nevada Consolidated Copper showed an
increase of net earnings OF s.14573, and
a surplus increase OF se02 1S3 for the
quarter ended December 81, as compared
with the preceding quarter.
Atlantic Refining Company for the year
ended December 81. showed an increase in
crease of s5.733,ST over the preceding
year
Greene Cananea produced 3,34s. 900
pounds OF copper In January. as COM
pared with 100000 pounds from Decem-
Der II until January l.
The American Smelling and Refining
Company has increased its smelling op-
erations in Mexico by blowing in a sec
ond furnace at Mathehuala Five fur
A good deal Of interest in Midvale is
being shown IN local circles, where many
investors bought ia around so and re-
fused to sell when the stock approached
100. While II has hung consistently
around 70 for some time, holders OF the
stock are In no way concerned, feeling
that the importance Of interests involved
in the original deal assure the new COM
pany of large share of future war or
ders and the prosperity generally pre-
dicted for the steel industry.
1t was authoritatively reported in New
York yesterday that the National City
Bank was a joint purchaser with the
Trust Co. and Lee Higginson &
Co. of $50. 10000 Mldvale twenty-year five
It was reported that the issue had been
derwrtting will be one of the most sue
cessfu ever brought out.
United States Steel announced yesterday
An increased tonnage for January over
December of 1851. The Lackawanna
Steel report for the year ended December
p shows a surplus available for divi-
dends of s2.4c9.10S. an increase of A,-
Os1 $50 over 1914. AS against a deficit for
1914, this Is equal to a 6.93 per cent divi-
dend on common stock.
Union Pacific yesterday declared its
regular quarterly dividend of two per
cent.
New York Central announced yesterday
a net increase in December of s5,S57 50
and an increase for the year of ss4, or, ,222.