The Washington herald., 1916-02-01
wilson CAUSES
WEAKER MARKET
Disclosing Delicacy Of Foreign
Relations Aids in Hurt
ing Conditions.
NEWS OF LOCAL MARKETS
Second Loan to Allies May Be Result
of Arrival of Securities in
Large Amounts.

That the weakness of the stock market
is caused, in part, by apprehension re-
sulting from the frankness with which
President Wilson has disclosed the deli
cacy of our foreign relations and in part
by the gradually feeding out of millions
Of shares of American securities owned
abroad, is the explanation most gener-
ally accepted in Washington, where a
number of those who trade on margins
have been squeezed since steel paid its
dividend.
England and France. It is declared.
have been seeking to unload American Sc
curities shipped over here in boatload
lots. The Morgan interests in New York.
1t is declared, are handling the Job and
are hoping that the market will hold un-
der the weight. II the present weakness
continues, however, it is believed that
the funds hoped to be realized through
unloading these securities on the public
will be taken up in a new loan, for which
the securities held abroad will serve as
collateral 1t is believed that but for the
character of speeches now being made
by the President in support of his pre-
paredness plans. the Morgan interests
might have been able to unload the Sc
curities without weakening the market.
With respect of the second loan, 1t will
be rem embered that Lord Reading. presi-
dent of the fiscal commission represent
ing the entente allies. let slip the infor-
nation while over here that second big
loan was being considered.
bearish tendency evidenced by sales
of Mergenthaler off two points on the
local exchange yesterday indicated that
some investors believe the reorganized In
ternational Typesetting Machine Com.
pany, with the Ritter interests eliminated.
may Secome a very live competitor of
the first named company.
The Mergenthaler Company. at the auc-
ton sale, bid to within 800 OF the
price-Sl. 60, COO-at which the reOrganiza-
tion managers bought in the assets of the
corporation recently. The reorganiZed
company, to be known as the Intertype
Company. is said to have large financial
backing The capital stock of S, JOO. COO
is to be divided, $3.50, 900 preferred. $1OOU-
ON0 second preferred and 100000 com
mon. There is to be no bonded indebted
ness
Charles n. Palmer Is to be president
and Robert - Montgomery treasurer.
The directors include Edward D. Adams
former president OF the Northern Pacific
Company: H. f. Bull. George C. Haig
vice president of the American Exchange
Bank Erskine Hewitt Marsden ]. Perry
of the Union Trust Company, of Provi-
y .
William Shillaber vice president of the
Bush Terminal Company, and Richard H.
Swartout
Although trading was light on the
Washington Stock Exchange Yesterday,
prices generally remained unchanged
MarganthaIer Linotype, which has been
weakening for several days. dropped two
points to 16S on the sale of ten shares.
rI1ptafinp 70
Arlington Fire Insurance Company stock
was bid up from I to 10. 1t was rumored
that the company was negotiating for
the sale of its property. Other sales OF
the day consisted of one Riggs Realty
dong per cent bond at 1C1 IA: 5000
worth of Potomac Electric Power Con-
solidated 5s at 80 3-4; ten shares of Union
Trust Company stock at 10 II. and a
share of Capital Traction at IS IA.
Showing net profits on gas and by
products of S57,146.72. dividend payments
of $4,000. taxes of $13.COO.44. and interest
payments of $27,O65.5O, the annual report
of the Georgetown Gas Company was
filed with the Senate yesterday.
Although the nominal price of gas from
the Georgetown company Is 81 per Loo
cubic feet, the report shows that the
price actually collected averaged seven
manufactured 213.3 400 cubic feet of gas
and sold IL, 791, ,723 cubic feet Receipts
from gas aggregated $15S. 80; from by
products, S21 ,564, and from other sources
2,4Sj76.
The report of the Georgetown COM
pany sets forth that the actual cost to
December 81. 1915, exclusive of franchise
Of property used in conduct of business
amounted to S5N.OOO; indebtedness of the
company, accounts payable, $7S15.O2;
loans and bills payable. $4,000; certifi-
Gates of Indebtedness. S1S3.OOO, and five
per cent bonds, S342, 900.
The annual report of the East Wash
ington Heights Railroad Company, SUBJ
mitted to the Senate yesterday, showed
a paid in capital stock Of s14S00: funded
debt, $4,000: floating debt, s7.4i2.73; pas
sengers carried 3721H; total receipts,
S,l415; total expenditures, s6,73441; net
profit, 81, 1914