The Washington herald., 1916-02-08
MARKET Shows
UPWARD TREND
Rising Prices of Mexican Pc
troleum and Midvale Steel
Gratifying Holders.
NEWS OF LOCAL MARKETS
Local Exchange Shows Decided Ac-
tivity with Several Issues Readily
Absorbed at Slight Drop.

More than one local investor found the
market to his liking yesterday when
Mexican Petroleum and Midvale steel
both took satisfactory upturn.
| The Mexican stock probably is due for
a continuation for some time but the
! present price represents a false hope in
many quarters OF deferred dividends
which, probably will not be realized.
, However, the Mexican Petroleum Com
pany has placed itself in a position to
continue deliveries long after political
conditions prevent production In 1913
when dividend payments were cut off,
the company started the installation Of
storage tanks in different parts OF cie
world with a view to preparing foy con-
| tinued trouble in Mexico. or course. II
the Carranza government continues and
manages to climb successfully the noun
tain Of economic and political ills which
the revolution has bred. Mexican securI-
ties may hope for a return to prosperity,
but the present lull in Mexico by no
mean spells permanent peace.
Despite the note OF optimism struck
yesterday as the result OF report. OF
! settlement of the Lusitania controversy,
the New York list continues a traders
| market. While important, the LusitanIa
! matter in only one OF three factors in the
equation. The report OF a possible big
railroad strike Is having a decided effort
and the continued liquidation of Euro
pean held securities is keeping the
market wobbly.
Decided activity manifested itself in
both stocks and bonds at yesterdsy's
session of the local exchange. with
several issues off little under a strong
demand at the lower levels. Traction
was on fractionally. as were the Rail
way Is.
! The following board Of directors was
reelected at the annual meeting Of the
| Washinston Gas Light Company yester-
day. President Reside read his annual
report, OF which the following is an ex-
| tract:
During the past year the company Of
fered for sale 6oo, 900 OF the first mort
gage per cent coupon bonds, which wer.
10 reimburse the company for moneys
/ spent in extensions and betterments No
tice was sent to the shareholders with
reference to this proposal and also printed
in the daily press.
The company was able to sell all
! the bonds at not less than loG ana
interest from November /. 1914 The
proceeds of the sale of these bonds were
used to extinsuish the bills payable, auq
the company now has no indebtedness or
any kind except the current bills ana
expenses.
During the year the assets have in
creased from sH, ,2S5, ,sl2. g to slt,53O, ,s4l.Oa;
S2i21l.D WAS refunded to consumers who
have deposits with this company; also
at the suggestion OF the Public Utilities
Commission the interest rate on con-
sumers' deposits has been inaugurated.
During the year the company was
able to make a satisfactory oil con-
tract for a large amount OF oil. which
Will last for three years. This has
suited in large saving to the COM
psny in its cost of manufacture.
| AT the west station works four new
SIG water gas sets have been installed.
which will enable the company to man
ufacture in the neighborhood OF 500
600 cubic feet per day of water cash
New feed water heaters were installed
at the west station, which should re-
suit in n large savings OF boiler fuel.
\ new blast pipe has been installed and
the water gas condensers and sCrubbers
have been overhauled.
'The company has made a hnal pay
ment of the Indebtedness for the pur-
| chase of Analostan Island and now
! owns II free of debt.
The United States government de-
! sires to connect Rock Creek Park and
| the speedway by boulevard, part OF
| which runs through the company's
property at our west station works.
! The company has bent every energy to
! facilitate this project in the public in
terest and has made proposition to
| the United States government which,
! if accepted, will clear up the question
| of title to the river front at the
west station works which is so vital
! to the operations OF the works.
For the protection of our con-
sumers and employees we have added
to our pulmotors a frst-aid emergency
kit and have given some instruction
drill to employees in the use OF this
kit.
| I'm all the various branches of the
! company renewed activities have
taken place, and the faithful and loyal
/ dispositions on the part of the en-
! ployes have created a most helpful
| company spirit"
W. B. Hibbs returned yesterday
| from New York.
| The contract for the preparation of
plans for the Citizens Savings Bank
! building, which is to be located at
, Thirteensand-a-h and B streets
southwest has been let to Milburn,
Heister & Co. architects. The CON
, struction work will be done by w.
p. Lipscomb Co, The contractors
will begin to raze the buildings that
now stand upon the site within a few
days.
Clarence F. Norment is in Florida.