Newspaper Page Text
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THE WASHINGTON HERALD. SUNDAY DECEMBER 8. 1912.
10
MARKETS---FINANCE-COMMERCE
' " - - i I t ...
Local Financial Matters
By 1. A. FLEMING.
Wall Street enjoyed a brief breathing
spell yesterday, the two hours session
being attended with only moderate ac
tivity and with fluctuations that were
generally more or less unimportant It
was a case of a tired market exhausted
after six days of decided activity, and
a breathing spell in preparation for what
Monday mav have In store for the
street
The Supreme Court holds Wall Street
In the hollow of its hands these days.
The court gave the brokers and flnan
ciers an awful Joke last Monday, the
Southern Pacific-Union" Pacific merger be
ing a straight left to the Jugular. Should
It take the view that the State of Min
nesota had the right to regulate freight
rates, the blow would be more serious a
&olar plexus smash.
In the event of the Reading decision
i being adverse to the claims of the com
pany It would fix the status of the high
est court of the land in the opinion of
Wall StT-et. but the opinion would not be
as effective as the other decision.
But this is Just what Wall Street la
liable to get to-morrow, and if it does
the bears will hold a Jollification meeting.
On the other hand, if the decisions should
Ik- favorable to the corporations Involved
the effect would ofTset the Union Pacific
decision, which in Itself, in its applica
tion to the roads Involved, is not so seri
ous, but in the broadening of the theory
i hat competitors must not get together
Is broad enough to have caused conster
nation. Naturally the opening on Monday will
be nervous, and after two hours the mar
ket will subside while everybody listens
for Supreme Court rulings.
Equipment securities showed Just as
good strength as any other group, and
this was probably due. as were all other
advances, to covering by shorts. Im
portant rails were slightly lower with
the exception of Delaware and Lacka
wanna, which made the sensational gain
of 9'i points.
To-morrow morning the Pujo commit
tee commences its work where it quit
way bjck In June. At that time the
chairman made the threat that unless
given the permlslon to probe into the
inner workings of banks, to pry into
their very business matters of private
and personal character was given, the
work of the committee "would be fu
tile "
Despite the belief of the chairman, the
banking fraternity believe that the re
lationship between banker and customer
K a private affair, and they will not
stand for a probe will resist It even If
ordered, nor will the President consent
to opening Comptroller Murray's books
to the inspection of the seekers after
information of such a confidential nature.
Even the financial interests that are
not a fraction as powerful as the Mor
gan and Standard Oil banks are almost
io a man opposed to the continuation of
the probe.
Probes are expensive to corporations,
eien if they haven't souls. They must
maU a defense though if as spotlest as
(Id Spotless Town, or be considered as
guilty a sin
The Standard Oil Company was split
'rto many pieces. The demands of the
Sherman act were satisfied. No one
claimed that the dissolution was not
.omplete the public was satisfied, butt
tli.it portion of the public that is using!
oil to-day is paying 50 per cent advance
on tost thereof, in order to pay the ad
ditional expense of creating comPetltlonl
lncy. like Jones, pay me ireigni, ana
rach probe makes the expense a little(
g'eater Probes have been numerous.
and many have been staved off with a
little diplomacy.
During the last session of Congress our
friends on the "right" were probing
everything, ready to investigate at the
drop of the hat.
it is about time the "miscellaneous in
dividual probe" was put out of busines.
lr you must probe, so far as this Dis
ti let is concerned, probe in the whole-
I II site S7U for LOW Railway com
mon '
The old familiar cry was heard once
more on the Stock Exchange yesterday.
It was a point better than the bid price
during the regular call. It was the first
"ign of life in the &tock for sixty da
No one sold the 1.000 shares.
For the preferred the official bid w
kV,, with S9'J asked. The chances are
that the Washington Utilities Company
has about all the Washington Railway
and Electric stock in its vaults that it
cares to handle for the time beinrr. at
leas-t. until the divers propositions rfor
t emulation, investigation. &c. have been
passed upon.
But it made the market look a little
better toA the bid. even If it did not
bring
DUtS
Stock.
Quite a little excitement was shown in
the advance of American Security and
Trust Company shares to 310, an advance
of four points on the current figures of
vpstcrday. and the hid was on the floor
when the session closed.
A sale of Railway common was actu
ally made at S6 early In the session,
twenty-live shares, but this was the only
transaction.
A feature of the action was the break
'n Potomac Electric 5s. considered as one
rt the high-grade investment bonds, re
stricted In movement frequently by firm
ness of holders and by the redemption
ause at 110.
They have been selling around 107 and
K and to-day opened at 103 and closed
r.i 104'i.
The Consolidated 5s were offered at
l"0S. with 1001, the best bid.
The theory was advanced that the
sales of the Potomac first mortgage 5s
reflected a fear that the property might
Ikj divorced from the great railway sys
tem now owning it, but such a theory
does not look plausible. In the first
place, segregation Is not likely; in the
second, the real value would in no way
be lessened if It was separated. On the
contrary. It would greatly stimulate the
Fotomac Electric Power Company. Un
less there Is some other reason, not a
matter of public knowledge, the market
holds no better bargain than these same
Potomac 3s. If retired before maturity
110 would be the price. There are only
J1.70O.OOo outstanding, and the mortgage
is closed.
"If a measure making It illegal for a
broker to be a director In a corporation
were passed," said a well-known local
utility director and stock broker, "the
case would go to the Supreme Court, and
the chances are better than three-to-one
that personal liberty rights would be
sustained and the proposed law ended
then and there."
The earnings of the Woolworth Com
pany, Including the local establishments,
for the month of November were
13.621,253.
These figures compare with J4.560,000
for November. 1911, , showing that the
thcaper line of goods are more popular.
For the eleven months of the year $51,
977,000 of 5 and 10 cent goods were sold,
an excess of over $7,000,000, or 16.33 per
cent, as compared with the business of
the first eleven months of MIL
Verily, there Is money In little things-
Email, useful, cheap things.
In the Investors' Magazine, published
by S. W. Strauss & Co.. Chicago. Is an
article of considerable importance to na
tional bank officials. An interpretation
of a late decision by the Comptroller of
the Currency, the article declares, shows
that bonds of the first mortgage real es
tate type, whether secured by land and
buildings, or leaseholds and buildings,
are a legal investment for national
banks.
It Is further stated that this decision
is based on a section of the revised
statutes, which permits national banks
to Invest In bonds "as other evidences of
debts," such Investment, however, be
ing of unquestioned class, and the
amount held not out of proportion to
tlje capital and olume of business of
the bank.
National banks In Washington have
long been willing to take real estate
bonds or real estate notes as collateral
for notes at hand, in this way getting
around the real estate prohibition.
It Is reported that the Drovers and
Mechanics' Bank of Baltimore will merge
with the Western National and the Na
tional Howard Bank. The stock of the
first named institution rose 14 points on
the rumor.
President Stanley, of the Cleveland
Railway Company, declares that the 3
cent fare will have to be abandoned and
speedily.
It will not be so bad. as the return to
the seven tickets for a quarter Is a bet
ter rate than most cities enjoy.
The Interstate Investment Company,
with $100.(00 capital, has been Incorpo
rated under Virginia. laws by a number
of Washington capitalists associated
with J. Selwin Talt. president of the
Washington and Southern Bank, and of
fices were opened yesterday at 1113 G
Street Northwest.
The company will act as a medium
between Southern enterprises and
Northern capital and will Investigate
public service and other properties
INDIVIDUAL DEPOSITS AND
NATIONAL
Sept. 4. 1912.
American
Jl.796.161.il
Columbia
Commercial
1.527.6.2.70
2.S22.SS2.7K
1.1S0.23S.O1
sso.m.s?-
1.2S2.334.7C
3,266.962.31
790.7S8.oS
1.2S0.310.47
3.108.J4S.67'
District
rmers & Mechanics'.
Lin
nln.
Metropolitan
Capital
Kiggs
Second National
Bank of Washington.
Total
..324,183,535.49 J24.260.887.40 177.351.91
SAVINGS BANKS.
Sept. 4. 191.
Anacostla
Citizens'
3190.685.:
660.724.05
316.243.06
3.920,890.23
Commercial & Savings..
Home
North Capitol
Seventh Street
Union
190.682.67
V.9.5lV.9S
411,760.49
134.899.77
411.311.7.".
613,160.68
209.391.52
United States
Washington Mechanics.
Kast rvasmngton
Potomac
Washington Southern..
Total
J8.751.265.36 J8.996.819.46 1245.554.10
TRUST COMPANIES.
Sept. 4. 1912.
continental
American Security
JS.401.S49.5S
966,911.18
7.793,930.57
6.277.328.6.-.
2.604.086.72
6.368,412.38
National Savings. .
inlted States. '.'.
Union..
Washington loan & T .
Total
J32
719.28
HECAPITUI.ATION.
Sept. 4. 1912. Nov. 26. 1912
National banks. . .
Savings banks
Trust companies. .
Total
J24, 183.535.49
8.731.265.36
32.312,719.28
. .165.447.320.13
WASHINGTON STOCK MAEKET.
Potomac enni Ss. 12,000 it 100S. 11.000 it I0OS.
Potomac Electric 5i. II 000 at 105. S1.000 it 106.
SI.O00 it IMS. U 000 at 1MH. S.OOO at 104S
Washington Itatlay and Electric
so.
310. 5
310.
310.
I'rion TruU 4 at 111.
United States Tru-t 10 at IO. 10 at 143. 5 at 113.
After rail: Washington IUilway and Eleetnc Is
00 It 84.
GOVERNMENT BONDS.
Bid. Altrt.
f S tej is
1O0V
O. 8. rer. 3 M
U. S. coupon 3s 102S
U. 8. rcg 4s I13S
U. S. coupon 4 1US
OAS BONDS.
Oonretoro tlis 5 103
Wikhlnjton Gas S 110
BAILIIOAD BONDS.
Capital Trirtion 5s U0S
Anamstia and Potomac 3s OSS
City A Subuiban 5s 103
Cclumb.1 Ss 101
Columbia 6s J01
Metropolitan 3s 1054
Washington Railway A Electric 4s ,. 83H
Washington. Alexandni & Mt. V. 5s.. 90
MISCELLANEOUS BOND3.
Totomae Electric con. 5s 130S
Potomac Electric Light 5a .. .. lots
Chesipeike & Potomir Tel. Ss 1034
American Telephone & Telegraph 4fl 110
t. C Paper Mfg. Co. 5s
Norfolk & Washington steamboat 5s.... 104
Rings Realty 5s (long) 102
Riggs Realty 5s (shorn 100
PUBLIC UTILITI STOCKS.
Capital Traction "1214
Washington Railway A Electric com... 864
Washington Railway & Electric pfd.... 8SU
Norfolk & Washington Steamboat 200
Washington Gas 8SS
Georgetown Gaa 96
Eastern Light & Fuel '. -r!l
American Tel. A Tel 138
TTPn MACHINE STOCKS.
Mergenthaler Linotjpe 2iru
Lanston Monctyn 904
NATIONAL BANK STOCKS.
American 13
Capital 220
Columbia 250
Commercial 207
District .-. 113
Fanners & Mechanics ... 255
Lincoln 150
Metropolitan an
Riggs 580
Second 100
National Bank of Washington 251
TRUST COMPANY STOCKS.
American Security & Trust 310
National anngs & Trust 2S2H
Union Trust 138
Wishlngton Loan and Trust 233
United States Trust 113 .
SAVINGS BANK STOCKS.
Citizens 20
Borne ............... 32S
Union .'. 241
Bank of Commercl & Sarmirs 12Vj
East Washington -J5
FIRE INSURANCE STOCKS.
Arlington ....- t 154
Corcoran H 80
Firemen's 14
Franklin
German-American 260
National Union SH
Potomac 30
TITLE INSURANCE STOCKS.
Columbia (V,
Real Estate. (5
MISCELLANEOUS STOCKS.
Chapin-Sacks leo
D. C Paper life. Co ... 133
Graphopbone common 52
MeirHnU' Transfer t' Storaft 103
rtecuntj Storage ..... HO
Washington Market K"i
Ex dlrMroil
through the South and offer them to
New York and other Northern Interests.
Mr. Talt president of the company, has
long held that Washington Is the logical
meeting place between the undeveloped
opportunities of the South and the In
vestment Interests of the' North.
Range of prices of active securities of
the Washington Stock Exchange for 191!
to date.
Furnished by W. B. Hibbs & Co.
Amount. Bonds. High. Jjxw. Lest
&19.000 Carftal Traction Si ill lit IUJS
SLOT rotxnlc lit ta 110 IMS 1MH
W4.009 Potomac Conaolidated Si lOHi 1C0H 100
rt.000 Washington Gt Sa. lim no no
jtyoo Washington iuiiwu ts.. bst, ci $i
Shares. Stock!. High. Loir. Lut
ill Amer. Grapho. com 51 9 n
. 283 Amer. Grapbo. pfd 80 c is
4.127 Captlal Traction lis 120 13
1.9C Eastern Ugai. Fuel I28H 111 in
i.U1 Linitorj 99 90 SU4
3.C32 MersTnthaler 229 36i 2184
2S.1U Wsahlnjlon Railway com.. Kt : ss
15.no Washington Railway pfd.. TH SS st
1S,I Washington J!u 91'i Ci tfi.
J. D. Howard, cashier of the Seventh
Street Savings Bank, was the speaker
before the young people of the High
School Bank on Friday evening.
He chose as his subject "Bank Ex
aminations." He explained the process
of examining, going through the entire
modus operandi, the examination
notes, counting of cash. Investigation of
the collateral and securltes owned by
the bank. &c.
A close examination of the bank's
earnings is made and the examiner con
fers with the directors to find out II
they are familiar with the workings of
the Institution.
He explained that the postal savings
banks are not a serious menace to the
local banks.
The report of the vice president
the High School Bank shown an
crease of 100 In the number of depositors
and an Increase In deposits of 3203.S8.
Cash on hand Increased J194.99.
The High School Bank wisely obtains
a fair rate of interest through loaning
Its funds to "other banks and bankers."
The loss of $1.24.527 deposits between
the bank statements of November 16 and
of September 4. 191:. is divided. 1715.327
to individual deposits and J326.300 on ac
count of bank deposits.
The figures for the local institutions for
individual deposits, including certificates
of'deposlts follow:
CERTIFICATES OF DEPOSIT.
BANKS.
Nov. 26. 1812
J1.764.022.S4
1.539.567.97
2.641.06.-..39
1.170,299.64
934,102.83
1.330,774.69
3.164.910.30
744,372.81
6.647.S43.53
1.145.534.72
3.1SS.392.SS
400.319.76
" 49.8 44.2 i
Nov. 26. 1912
3176.934.:
687.862.60
323.241.59
3,912.761.94
32.452.63
219.920.50
122.976.64
1.636.066.26
424.979.08
160,045.61.
434.611.90
596.282.32
296.284.11
32.432.65
29.237.S3
122.976.64
" i3.2is'.59
5.145.88
22.697.15
Nov. 26. 1912
Loss.
J136.794.20
31,885.33
490,916.46
265,826.91
"36i.3'4'0.97
JS.265,055.38
935.025.83
7.303.014.11
6.111.701.74
2.789.617.31
6,067.071.61
J3.1.471.4S5.9S Jl.041.233.30
Gain.
J77.351.91
245,554.10
J24.260.867.40
8.996.819.46
31.471. 4S5.9S
Jl.041.233.30
J64.723.192.84
MISfJELLANEOUS BONDS.
New York. Not 7. Oosing quotations of miscel
laneous bonds:
New York Central 4s. I960 100
New York Ceotral Is. 1858 KS
New York Central Is. 193
A . T A S. F. c-L Is. 19S3
Atlantic Coast Une-N. N. Is...
Baltimore A Ohio gold 4s
Bethlehem steel 1st 5s
Brooklyn Rapid Transit 4a
Canada. Southern 2d 5s
Chesaiake & Ohio con. 5s ,
964
1004
Chesapeake A Ohio est. 44s 92S
Chicago A Alton 3s CCS
C. II A Q. gill 4s 94S
C. B & (J. 111. Is STS
C. Mil. tc St. P gnl. la. senes A 93
C. Mil. A St P. 44 1954
Chicago. Rock Island & I'sciBc deb. 5s 89
Chicago. Itra-k Island A Pacific rfg. Is 8T
Chicago. Kork Island A Padflc col. Is 63S
Distillers' Securities Corporation Ss G9
Erie general lien Is 714
General Electric deb. Ss. tern. rrrrirU. full paid 101
Great Northern tSs 1(0
lntrrbnro Raiid Transit gold Ss 102S
Like Shore Is. 1931 9tl
Louisville A Na'A-iUe unified ts 97
MlSMun. KansJU A Texas 44s 87
Missouri raciScSs. 1920 974
New Orleans. Mobile A Chattanooga Ss 87Vt
New York Central deb. 4s 914
New York Railwaya rfg. Is 764
New York Railways adi. 5s SI
New York, Westchester A Boston I4.
North racidc 4s
North Tactile 2s
Pennsylvania 34s. 1913
Paff. of Mo. 2d Ss
Pacific T. A T. Ss
P. Lonllard 5- .,
Reading gnl. 4s
St. L.. I M. A S. Itlr. A Gnlr di. 4s.
St, L. A S. R. rfg Is
Seaboard Air Lane Id Ss
Southern. Pacific col. Is
Southern Pacific m. Is
Southern Pacific rfc Is
... 97s
S24
934
1 Southern Railway 4s
Southern Ry. 4s. Momue A Ohio dlr..
Third Aienue adi 5s
Union Pacific 1st Is
Union Pacific cvt. Is
I". S. Rubber s
V S. Steel a f Ss
Wabash rtdg 4s
Western Electric Ss
Western Maryland Is
... 100-s
... 644
... 101
Weslinghouso 3lfg. 5s jto
Total sales. 3383,000. against -2.037.000 yesterday.
11.005,000 ,
week ago, and J1.IE1.000 a year ago.
BOSTON C0PPEB MABKEI
Adtenture
Bohemia
Calumet A Arizona..
Cllumet & Hecla
Copper Range ,
East Ilutte
Franklin
Indian-,
Like. 4.
L Rtje
MaWvilley
Mayflower ............
3Icrgenthaler
Michigan ,
Mohawk
North Butte
North Lake
Old Colony
Old Dominion.
Oneco
Osceola
Qrrincy
Shannon ........,
South Lake
Swift
Tamarack
Trinity
United Fruit ,
Utah Consolidated....
Victoria
lVolrt-lne
SATUBDAY'S DECLLNEfl.
Beet Sugar ....IVi
Union Pacific .. Vt
Reading ..'.... H
1. V. CentraL. .1
'Frisco Sds ....
G. K. Ore
Wratlngbonse .1
Mexican Oil.... Ti
Snuff 1
Texas Oil - SH
III. C'etral 1
Looe-Wllr
14
SATUBDAY'S GAINS.
Itealtr I
G. Northern ....
Bond Paper .... Vt
Cat. Oil , H
Am. Tobacco...!
Hep. Steel .... Vt
Cast I. Pipe pli.1V,
N. Pacific
Gen. Electric ..
Dfd.
Soo Line ...... H
Car Foundry
Western Md. ..
Ry. Springs .. 4
Miami Copper . Vt
Chlno Copper.. Vt
Del. t Lack. ..OK
HEW YORK STOCK MABKET.
Hitn. La. CIom.
Amalgamated Oopper..
4.100 Am. Beet Sugar SI
11,000 Am. Did 32".
1.300 Am. Cm pfd liri
203 Am. a F 57
100 Am. C F. pfd IHH
100 Am. atlee pfd (3
SOO Am. Cotton Oil BTi
100 Am. n. & L d 2E4
100 Am. Unseed 12
800 Am. Looomotir US
100 An. Milt II
10) Am. Milt pfd SO
2.900 Am. Smelting 73
300 Am. Smelting rid 10SH
200 Am. Snuff 190
Vlj Am. Steel Foundry 3S'i
100 Am. Sugar IBS
300 Am. TeL Tel 139VI
MO Am. Tobacco 266
100 Am. W. W. pfd. Wi
100 Am. Writing Paper pfd.... 314
3.03 Anaconda 41i
1.800 AU-hl.cn 10SS
SOO Atlantic Out Line. DSH
100 BllUmcco A Ohio. 105',
300 Billimon & Ohio pfd KM
300 Bethlehem httrl 3S
ICO B. F. Oodrich M
M K F. Goodrich rfd 106
2.3M Hrookbn lUpid Trtnnt.... 90S
6.200 OltfomU Petrol a
1W I'slifornit Petrol pfd 9M
f CmidUn ricifle. 2HW
100 Centra! Leither 3
1.200 Coeupnke & Ohio IS
100 Chicuu t Alton 18
2Sb
U7V
1391
SOO Chirarn & tit West .
200 O & ill u
Ptd..
3i'i
1.400 Qiio.. M A Rt. r
100 Chic. 4 X. W
5.9J5 Chlno Con. Cop....
200 Col. Fuel JL Iron.
33 32 32
100 I'ooaolldaled ; in
830 Corn Product IS
100 Corn Product pfd TTH
100 !.. I. A V Sir,
200 Denter A- It. i. pfd 331.
800 Dutulcrltl bccunUei 2d
700 Er.t 3
80 Krl 1st pfd
3T0 Fed. St. & S. pfd 41
COO Keneril Elrctni: 184
1.30O (ioldneld Con IS
4.600 ;rji Northern pfd 13i.
2.200 tit. .V tre. Mil 42
7TS
MS
3S
300 (iuxcenbeim Expl
SOO Illinois Central
MO Inp. Cofiper
300 iDterhoro-Met
1.800 Inttrhoro-Slet. pfd
9(0 Internitlnoii Hirr . ..
100 International I'iprr ptd.
500 International I'ump
200 International !ump pfd.
100 J I Cae pfd
13SS 135 12f
.. WIS 101 S l"l'!
100 Lackaanna Steel
3.100 Lehith Valley
300 L, & M. Tol)
1.O00 Loov-Wile
200 Loose-U'ilea Ix. pfd
200 May Derailment More
10O Mercantile Manno pfd . ...
2.100 Mnloan Petrol
300 3Imub! Copper .
100 M. M. PASS. 31
30 11 . K. A T pfd
600 Missouri Paafle
ISO National Biiniit.
TOO N It. It. at M. 2d pfd.. . .
1.900 N'erada Cortiolidated Cop .
13S ll'i 1J6S
28S 2S 28S
am
1! New York Air Brake
ia New Turk Central 112S
200 N Y. O. A W 324
510 Norfolk A Western 113S
2C0 North American 82
2.000 Northern Pacific. 121S
300 Pacific Tel A- Tel CS
900 Pennsyliar.la It. R las
100 Peoples Gas A Co.1 1H4
KO Itttsburg Cil pfd MS
100 I-lttsburg Sleel rd 100
300 lliltean Palace Car 1C24
10) Rail it Sleel rrtn-s . . J5S
1.C00 Ray Consolidated Copm . 20S
23,801 Reading IMS
200 Reading 2d pfd 93
Wi Republic Iron A Steel.. .. 2SS
13) Republic Iron A Med pfd . 87S
2.700 Rock Island 21
900 Rock Island pfd 154
200 Rumely 914
100 Seaboard Air Line pfd
300 M. L. A S. F US
500 St L. A S. F. 2d 31
200 Sears-Itnebuck 20"i
6.400 Southern Pacific 10?S
800 Southern RailwiT 23S
100 Southern Rr pfd 804
2200 Standard Milling 32
300 Studehaktr 11
2C0 Tennessee Copper SS
2.0TO Tens Co 113
200 Third Ae R. R SS
iro Pnderwooil Co 102".
500 Union Bag A Pair 64
100 Prion Bag Put pfd ... 364
15.300 P-nlnci Pacific.
100 Union Pacific pfd
200 Union Ry Inr pi
. itss lers ic;s
300 r s r r
. 59S 39
. 67 C7
391
10r C. S. Express.
o r. S. R A ln.p 73 72S 72
J0I I" S. Red A Ref 14 14 Pi
T0B 1 S Rubber 634 63 63
100 P S R A It d 3 r
3 Rnbber 1st lid 107 ls;S 106!i
51.300 P S. Steel 894 tg', 65i
1.330 C S Stevl td 108S 103S l'i
37CO Utah Copprr 64 S9S 19"
300 Va Car Chcm I'.S 43S II
311 Wahash pfd I3S 13S 13"i
0 Western Marjland 52S 52S S2".
W) We'tern Maryland pfd .... 72 72 72
100 Western Union Tel 7'. 73 73
2 Vetinghiiue Mfg 8.1 ) fo
1(0 ViJortli 107 107 1C
201 Wool.orth pfd HIS 1114 111':
Toial sales. 225.730 shares, against 711.413 yeleiday
103 970 a week ag- and l"l.000 a scar ago
COBALT STOCKS.
TntonP. Ont . Dec. 7. Closing prices n Cobalt
stocks:
Rd. Asked.
Bearer Conhdated 444 .15
Buffalo 230 253
Clumbers Kerlaitd as .22
City of Cohilt 264 27
Cobalt Lake IS . ..
Coniagas 773
Crown Reserte I J.I7 3.60
Foster . 12
GlfTon 0G4 .05
Great Northern 074 -07S
Margraves OSS
Kerr UVe 265 2.ES
La Rose 150 2.SS
McKlnley-Parrmv Savage 219 2.20
Mpiwing 8.50 860
retcrson Uke 16S .154
Right of Waj . 05S .054
Slltcr Leaf C34
Trmiskaminz 404 .43
Tretiiewry .32 .73
CUBB JIABKET.
Atlanta
Ray Stale Gas
Hradrn Cotswr
British Columbia Copper....
Chicago Subway
Giroux Copper
Goldfield Florence
Greene Cananea
Intercontinental ItuDOer
US
Jumbo Extension
Lake
La Rose
Manhattan Transit
IS
Mason Valley 121
Mines Comfany of America "i
t,ts Hills 1
Nevada-Utah 31. A 8. Corporation.. .02
Nlrissing Jllncs cmnraay 8
Ohio. Copper l
Sioux 8
United Copper 1
United CoiH pfd 5
Yukon Gold
34
NEW Y0BK BANK STATEMENT.
Average.
Decrease.
... J78.000
... 21.1S.0M
.., 7.712.0M
13.000
... 3$,3X,fXI9
Actual,
Decrease.
W.073.1M
4.2O3.0O3
0.003
1I.0J0
40,061,000
Reserves
Loans
Specie
Legal tenner.
Deposits -
'locrelsc.
WALL STREET GOSSIP
Important covering U reported to have
taken place on the breaks of 'the last
few days.
The miscellaneous short Interest Is very
large yet, according 'to our Investigation.
Office traders continue to be very bearish
as a rule.
Wise absorption by foreign Interests Is
reported to be taking place In Southern
Pacific on Information cabled from New
York.
There li Increasing evidence of power
ful absorption of good stocks by Inter
ests that sold Immediately after the first
war scare.
Odd-lot buying Is said to have In
creased materially during the past few
days, especially In rails.
The bear party will not give up without
a struggle, for it Is composed of very
strong professionals.
Some very well-Informed buying Is no
ticed In Amalgamated Copper. Other
copper shares are well taken also.
Lawson and the Western speculative
element are still inclined to sell on ral
lies. If floor gossip has any truth In It.
Cotton rallies are likely to follow drives
now.
A scalping position is being taken by
grain traders.
The renewed pressure on Steel, Read
ing, and Union Paclflc Is coming from the
bear clique, who took nearly 100,000 shares
Friday. Their brokers have been selling
the above stocks since the opening to the
close.
One hundred shares of Tobacco Prod
ucts common changed hands at 125, off
four points from last previous sale.
Referring to gold Import prospects, one
of the largest Institutions operating In
the foreign exchange market has found
that the Jellow metal Is being parted
with reluctantly by foreign financial In
stitutions and there Is a disposition on
the part of some bankers to make ap
plication to the Secretary of the Treas
ury for deposits of government money
In the Interior banks. Hitherto, the bus
iness interests In the great crop pro
ducing sections have been able to secure
money at 5 and 6 per cent, but higher
figures would now appear imminent.
There has been opposition on the part
of some bankers to requests for gov.
ernment action, but while everyone ad
mits the grievous shortcomings of our
financial system, the point Is made that
accommodations to the merchants during
a heavy trade movement should not be
held up pending the Indefinite period of
the establishment of practical currency
reform.
Host traders say the market Is over
sold and also that the big liquidation of
pool accounts forced by the calling of
loans Wednesday and Thursday Is over,
and only the scattered weak stale bull
accounts remain to be cleaned up. Also
that money market conditions are easier
and the Street has been unduly flright-
ened by the Union Pacific decision.
Therefore It Is contended that a good
rally on the technical position alone Is
due. Some think this ougnt to go at
least three points.
vans says the market temporarily
seems pretty well sold out and a rally
of good proportions seems due. This is
rerhaps more especially the case In the
railroad issues than in the industrials
Simpson This Is a bear market and a
sale on all rallies.
The stock market during the morning
session exhibited nervousness, and
though stocks did not appear to press
for sale as they have on otner days tnis
week, there was more or less timidity In
making commitments on the long aid'
and traders were quick to Jump out on
any sign that weakness In the general
list was developing, with a result we
had an Irregular session, with firmness
and heaviness alternating,
llallgarten a heavy seller of Steel
Some covering by traders and light buy.
Ing by London.
The actual bank statement was a good
one. the surplus reserve having been re
stored, with a balance of J3.000.000 on the
right side. We look for a. continuance
of a trading market the early part of the
week, pending Supreme Court session,
money investigation. &c.
Buyers of Steel: K & C Randolph.
3.000: John Muir. 1.01. Simmons & Slade.
Content. Shearson Hammill & Co.. Was
sermann Rros.. Huhn Edey. Sellers:
llallgarten & Co. 6.0XI. Dewing & Co.,
3.11.10.
The market opened irregular, and ;n
the early dealings showed considerable
strength. Steel. Reading. Union, and
Amalgamated advancing. Around II
o'clock a ilriie was made at the market
the selling being greatest in Steel, and
all of the leading Issues declined" about a
point. There seemed to be good support
on the decline and liquidation was not Bl
all extensive From this decline the mar
ket rallied sloI Dealings were on a
comparatively restricted scale. The bank
statement was much better than expect
ed. Sales. 210,0"! shares
Reports show that trade continues ac
tive in many lines, with merchants opti
mistic as to the future. R. G. Dun & Co.
report commercial failures In the United
States this week at 317. against 220 last
week. Conditions of winter wheat
throughout the country believed to rep
resent a high ratio of 90 per cent of nor
mal on an acreage of probably 1.300,000
acres less than that seeded In 1911. Op-
erations of American Steel Founders
continue at about S3 to 50 per cent of
capacity, with no let-up In orders.
Hallgarten a heavy seller of Steel.
Some covering by traders and light buy
ing by London.
NEW YORK COTTON.
Furnished by '. B Illbru A Co.
Open. High
January.
. ... 12J0 12J3
... 12.38 1148
. ... 1130 11IO
1123 1136
Slarth..
May
C.37
1130
I2.2S
July
CHICAGO GRAIN MARKET.
May ..
July -
90', 90U 90"i
CORX-
3Iay ..
July ..
43S UVi
I9H in 49t,
OATS-
Jfay ..
July ..
33". :C"i 32i
33S 3Ts 32!
CHICAGO PRODUCTS.
Furnished by W B Hlbba A Co.
PORK Open. High. Low. Close
Jsnuary IMS 1335.. I9.3S 19.35
Jtay W-7 "7 .77 18.80
LARD-
Jnuary W-00 10.60 10.55 10.53
jl 10.23 10.23 10.22 10.22
RIBS-
JanuaTy l- ! W-25 10.25
May 10-00 9.97 9.97
HEW YORK MONEY.
York. Dec 7. Money on call was easier to-dar.
Time money for sixty days, tl per cent; for ninety
days. 6H per cent for four months, e per cent; for
JtVe and SIX monilu .r- li ni. Hsn Ul luiir.
but very dull.
Ctotnmercial rapcr-Primr. sutj days, per eject;
tan, four, fltesssnd six months. 4W par east.
Foreign exehatigs martet-Csblts quoted at 4JSM;
demand starling. tM0; francs. 3J0S. leas 1-33; marks,
UK. lea. 1-3L -
Forrigo maraets-Discocnt. London, 413-11 per
cant: ParU, Vi V cent: Berlin.- Vm.
Exchange; on Londoo-raria. St 234e; Berlin, 20m
45pf. '
'NEW YOBK PBOTJtJCE.
Nw York-. Die. T.-UILLrEXT-iTrmj,bnilriesa
Inaellvs. Sprfel bran. 2100; standard middungs,
a.00. Western rsd-dor. 2.S0: winter wheat bran.
In XO-pound sacks, to arrive. 24.10; city bran. In
bnlk 22.001
RYE-eteady; trade la alow. .Western, to arrive
Is rained at about O. c i. f.. track and State, at TL
FLOUB-SUady; buainau is lifeless. Kansas
straights, 4.15a! JO. In sacks; spring patents. 1.50c
135. In barrels; spring dean. .2S.a4.ag; soft
traifhta, ts arrive. 4.60a 1.80. In Uriels.
BUCKWHEAT rLOUB-Steady: supply la
meager. Chosen nominal at 2JS for 100 pounds.
CORNMEAL Steady; demand to limited. Kiln
dried, new. for export. 33Sal40; coarse meal. In
bags. L30aL33.
HAY-Recelpta. 1.254 tons; steady; trade Is mod-
NOTES OF THE SCHOOLS
School activities of alt kinds have been
in unusual evidence during the past
week. This is an age of organization,
and organization within the schools. In
athletics, dramatics, social and education
al functions, as well as the bond between
the school and the home formed by parent-teacher
associations, has been devel
oped almost to the point of completion.
Yet a new phase of the modern unifying
of a child's home and school life has
received recognition In the After School
Club.
This club had its origin In Philadelphia
with the definite purpose of bringing In
terested parents In touch with expert
teachers who could be true helpers in
the life of the child. The teacher would
also be helped: her outlook broadened
by an Intimate association with parents,
and working jointly with them for the
physical, moral, and mental upbuilding of
the pupil. &lis Emma E. Smith, former
ly teacher of the Wisconsin Avenue Voca
tional School, has resigned her position to
become field secretary of the After School
Club of America, and small clubs of this
kind are already springing into exist
ence all over the city.
Assistant Superintendent Ernest L.
Thurston will talk on arithmetic in the
grades at the next meeting of the As
sociation of Principals, to be held at the
Franklin School next Tusday afternoon.
A meeting for mothers will be held at
the Takoma Park School to-morrow at
3 o'clock, to discuss suitable books for
school children to read.
Miss Edith C Wescott. principal of
Western High School, entertained the
College Women's Club last Tuesday
eventng at her charming home, the old
Kldwell mansion. In Prospect Avenue.
Miss A. II. Oeorge, expositor of the
Montessorl method, was present and gave
a brief outline of the novel ideas dem
onstrated In this system. Among the
many other well known women present
were Mrs. P. P. Claxton. Mrs. S. R.
Rhodes. Mrs. Edith Kingman Kern. Mrs.
W. M. Davidson. Mrs. Berman. and Mrs.
E. S. Tracey (formerly Miss Nellie Rey
nolds), vice principal of Central High
School.
An address on "The Abolition of War
and Permanent Establishment of Peace"
was given at Eastern High School last
Monday morning by A. D. Call, executive
director of the American Peace Society.
Miss Mary C Breen will tell of the
training school at Vineland. N'. J : Miss
3Iargarot Steward will give an outline of
the course of instruction at the New
York Univers'ty. and Miss M. A. Robey
will describe the laboratorj- work at Cor
nell at the next meeting of the Special
Child Club, next Tuesday evening,
Fifth Street Southeast.
Business High School football team will
be given a "feed" next Tuesday night
when the delicacies of the season will
be served for th husky lads. Toasts will
be given by Henry P. Blair and Mrs.
Edith Kingman Kern, of the Board of
Education; Dr. William M. Davidson, sup
erintendent of schools: Miss Shanley. of
the facultj-. and three of the heroes of
the occasion. Later all will repair to
the assembly hall where public and school
sentiment will sliqw itself in songs,
speeches, and school yells. The evening
will close with a dance In the gym
nasium. Gallaudet and Central High School bas
ket-ball match has been postponed until
after the Christmas holidays. The Cen
tral girls will use the "gym" of Epiphany
Church parish hall on Thursday after
noon hereafter, to get the advantage of
high goal throwing.
pjcial meeting of the Thomson As-
socIaUon was held last Tuesday evening
and a capacity audience in attendance.
An Interesting programme of s.nglng. in
strumental music, and recitations was
presented by the children. C. K. FInckel
made a short address on "Conservatlgn
of the Child." Refreshments were served.
Clarence A Blocker, director of indus
trial education and supervisor of night
schools, of Kansas City, Mo., spent Wed
nesday visiting the McKmlcy Manual
Training School and the Franklin Night
School.
The circular of information relative
to the certification of pay rolls Is being
revised and will be Issued in a new
form immediately after the Christmas
holldas.
Arrangements are being made to give
public school employes a partial pavment
of salaries before the beginning of the
holidays.
Webster School Association will be ad
dressed by Dr. Elnora Folkmar next
Wednesday afternoon on "The Health of
the Growing Girl." A short musical pro
gramme will also be given and refresh
ments served.
At the meeting of directors of Pupils'
Bank, held Friday afternoon. John D
Howard, cashier of the Seventh Street
Savings Bank, gave a talk on banking
customs and principles.
The first issue
if Hand anl Mind came
out Thursdaj.
Tech alumni meeting will be held on
fthe evening of December 23. The busi
ness meeting will be followed by speeches,
music, and refreshments.
Frank A. Roach, of the Yawman &
Erbe Companj-. will give a lecture on
"Business Systems" at Business High
School on Thursday next.
The initial meeting of the Mother's
Club of Peabody School was held last
week, and addressed by Mrs. P. 31. Har
vey, president of Mothers' Clubs of Den
ver. Colo., and a former president of
Mothers' Clubs of Topeka, Kans. She
Is an ex-pupil of the Peabody School,
and has been an active worker In educa
tional circles during her residence In the
West.
Miss Flora M. Hendley. supervising
principal of the Sixth Division, read a
paper on "Present Tendencies In Edu
cation" before the Alexandria teachers
last Tuesday afternoon. She said that
a child must be prepared for what he Is
to meet In life: that he must conform
to conditions around him. She advocated
the vocational school for the Uoy who
could not devote the time to a high school
course, and recomemnded getting away
from all unpractical methods of obso
lete instruction.
A dramatization of the "Sleeping
Beauty" was given by the pupils of the
rrats. Qnotitlom arc: No. 1 vtrMClry. LlSttf
standard. s.W: -Io, J. LtBsLOTtt; Xe. i. JOa. 1
8TRjkV-ReceIpta. SO tons: Sat: inquiry to mod-j
crate. Long rye. SSaSTH. Oat straw to scares and
values unsettled, posstbtr S3. -i
PORK-Fim; stocks are small. Mess. H23s3fS":
family. H00s23.a. . ' J
BEEF-Flrm. but dull, u supply la Ugkt. Pack-1
et. 2203.(0: family. HOOaitOO.
LARD-Sleauly: lifelaas transactions. Prima West
ern. 1LS0; refined continent. 1LS0; Sooth. American.
12.IS; refined BraxUiu. In kegs. 13.41; beef tteartne,
EaI2S: kid stearins stow; New Tort. 13.
COFFEE-The local coffes market opened stea4r
bat S to 9 points lower on tmfavorabla advfoas from
all foreign anTse centers, together with soma vest
end llquldition. On the other band, there was
aome local covering, and prices improved a few
prints right after the opening, with the, net baU
of values 3 to 7 points lower. Early sales were 33.
000 bags. Including 3.000 bags December, 1U, at
13.71.
The day'a prices were as fonon:
High. Low. Closing.
Decemb.r. U.J5 13.B 12.sSeB.9l
Juanry IX0BaUJ
February 13J8al3L79
March 1139 13,38 U39aU.3
Monroe School for the entertainment oC
their parents at the association meeting
last night. This Is one of the new fea
tures Introduced into the child's reading:
lesson of to-day. They act the story as
well as read it Dr. McAfee talked on
"Children's Diseases." and S. E. Kramef
spoke of the relation of the home to thej
school.
The Brent School will be awarded thea
Garfield playground trophy next Friday
afternoon. Miss Roper will mako the,
presentation.
Mrs. William von Beyer and Mr Rich
ard Lorleberg entertained the pupils of
Western High School Wednesday morn
Ing with a delightful musical programme)
arranged for piano and 'cello.
Athlet c posters will b a novel feature)
of the Christmas Issue of the Balance)
Sheet.
The College Club of Business High
School will give a dance Just before th")
Christmas holidays.
Resolved: "That emigration should M
further restricted." was the subject of
debate of the Daniel Wcbstr Club. Fri
day afternoon. The affirmative was sun
ported bv Messrs. Bonnet and Vanderbp
while Messrs. Trendberg and Lipscomb
upheld the negative. Miss Pauline Smith,
the vice president, presided, and Missj
Theodora Presnell read the Mercury.
Special teachers received checks for
longevity pay due them on Friday last.
A plan for unifying the standard of
making awards for the school Insignia of
Business High School has been decided
upon by a comm.ttee of five and adopted
by the farolty as a whole
Girls' committee of Tech will give art
entertainment and dance for cadets and
girls of the school on Fridaj, Decem
ber 20.
A talk on simple graduation gowns
was given to the girls of the February
class of Central High School by 3Irs.
Hoegelsberger. lady principal of the)
school.
The Federal Schoolmen's Club met at
the Continental Hotel on Friday evening1
for a business meeting followed by h.
dinner. Dr. A. C True, of the Depart
ment of Agriculture, spoke on the 'Re
cent Progress In Agricultural Education
and T. T Wong, chairman of the Chi
nese lndemn t fund, outlined advance
ment made recently In Chinese education.
Thanksgiving collection taken in the
schools amounts to above J2.& a slight
decrease from last year. This will be
I turned ever to the school fund and dis
bursed through a oommittee of the As
sociated Charities, of which Assistant
Superintendent E. L. Thurston is cha r
man. Miss Jessica Marshall, supervisor of
schools In Toledo. Ohio, and a delegate
to the Rivers and Harbors Congress,
visited the atypical schools on Friday.
Miss Marshall has under her charge all
of the special schools of the Lake City.
Central High School Alumni Associa
tion w.ll hold its annual reunion on th
afternoon of December 30. when a,l the,
"old grads" are invited to be present and
Join In the good times for which old Cen
Centraf Is famous.
Night schools will close for the holidays
on Friday next, and reopen Friday,
Januarv 3. 1913.
The Christmas p!a of Easter
School will be "Spreading the News
-au wresor. ana win oe Bi.tn
' assembly hall on the evening of De-em
About fifty were present at the first
meeting of the debating society of West n
High School held on Wednesday
The Camp Fire Girls of Eastern 1'ie'i
tramped from the Chain Bridge to S a
more Island last week, under the "iapr
onage of Miss Merrill, one of th sursr-i
dlans.
The F.rst Battalion dance will he c1 r
at the Arcade next Friday and Company
I dance at th Cairo. Decemb 27
Jliss Wills gae a practn a' fn-sr
ance talk from scientific facts gathe-cj
abroad to the pupils of Central II gh
School at assembly Wedncsla mm"ng.
Capt. R. C. Bruce has been
President Low ell. of Howard
as delegate representing th.
at the inauguration of Dr S
man as president of Howard i
.e-te.l by
"r versitF
serslty
1 ( New -
. rsitv.
At th- executive meeting oi t-e unml
Association. -Monday. Deccmbc ai
decided upon for the annual re .n'"" t8
grads at Eastern High Schosj)
Misses Robertson and Wills po' on
the "Harmful Effects of Alooro' S
Armstrong Manual Training S hool Fri
day morning.
r Don't Suffer With
CATARRH
Stop dosing the stomach with harmful,
wotthltu medicines. Try the new war the
sure way breathe the sooMtig. healing, health
Smxg. antiseptic tatortrom the "VESTA"
POCKET NEBULIZER into the system
nltevt j-our suffering cure your
v-iaxrii. your Astnma.
The VESTA"NKiim.iziriiTni;AT-
MENT is a medicated vapor of rrat po
tency: it is Breathed titrmgntae
, nostrus goes snrirnf to the seixf
X of trouble saturates the delicate
1 i hssitett the nose, throat and up-
vr mr passages peneirnies every
cavity and passage reached by
breathing seeks out and kills
every Catarrh and Asthmagerm
and stops the violent attack of
Asthma in a few minutes. The
"VESTA" NEBULIZER
TREATMENT stops the jjierz-
tjfg1 -Algae A i-nftj-4isrv tha
headtaniskrs catarrhal headache sort throat.
datn iluattiri. twiwulsliS ttos n.
Um. SkuwUi vsssesrsiis sretfsMss Li fa ths irrifi.
4 f nsssss tos asanas esadltSMi.
The "Vesta" Pocket Nebulizer
ittoi!ftprBT itetanatomlttr. bvterwUmer
dtroyiq vapor of untold vlvm t or th prompt
relict and cure of Oatsirrh and Atthmm. It con.
tain ha.blt-formlOiT drajr U ttnsiU. compact.
Softf on lODsys'Trlal pJg'T
.Nr.BUUZKK saset4 s 10 stays' Iriei, in' IA eaeslate
KiurtM(Vfa' .irenefaa'gMarvntie fe five eetiaactie.
or nvtnry sscA. Prlos, withstl meatVa rrsatsaent
esiV2.oa. 8tate If for Catarrh or asthma.
POCKET NEBULIZER CO.
257 Lafayette Are. Detroit, Mich.
ms
.
'kjhmtimBgrms,,.
-T'ialiK.lY jStjimk
