Newspaper Page Text
THE WASHmGTCMS; HERALD,; SUIOAY. vTANTJARY 5,- 1913.
r . ,
Local Financial Matters
By I. A. FLEMEsG.
Wall Street looked through a UtUe
more cheerful glasses On Saturday- than
nn t-vMnv. The ble short Interest un
dertook to turn ft" fc paper profits of
good atie Into banfc account. They also
met a little better feeling among the
tt m tfiA street who are conn'
niv innklnir for a decision on the
Minnesota rate case from the Supreme
Court. This feeling Is so strong that an
adverse decision would be a distinct
shock to the street and would bring
about some pyrotechnics on the bear
side of operations.
That they are encouraged to expect
a favorable decision Is due largely to
the fact that an adverse decision would
be practically an overruling of theln
divldual members of the court, who In
Judicial capacity In lower courts have
adjudicated on this case.
Just what effect a favorable decision
would exert on the market Is difficult
to say. That a favorable decision has
been fully discounted is a fact
There are those who opine that "Wall
Street Is on the eve of receiving Its last
bull argument for many a day.
That after the decision In the Mlnne
ota rate case la In. there will be noth
ing but easy money, plenty of it, "and
good earnings to warrant advances,
while the era or excessive honesty, of
unusual probity, of Individual effort will
dawn, to discourage all corporate effort,
to worry and depress corporations and
poke the Inquisitorial proboscis Into
other people's business as ne.er be
fore. Moreover, while It seems impossible.
it Is believed that the next Attorney
General will outdo Mr. Wickersham as
the enforcer of the Sherman law.
The Picture Is not a ery pretty one,
but It la In line with the "Wilsonian doc
trine of more personal endeavor.
Beet Sugar was a weak sister, dropping
: 1-8 points. In addition to Us smashing
of Friday. All the Petroleum stocks ex
cept Texas Oil were also on the weak
'list. Mexican Petrol going oft I 3-4.
American Tobacco was the strongest
stock In the list, making a S 5-1 points
advance. St. Paul and Southern Pacific
nere each better by a point, and Union
Pacific as well ,
The Coppers and Smelting were all
higher. Harvester moved up 1 1-4.
The sales for the two hours were only
The. bank statement was excellent, and
probably had something to do with the
uneasiness of shorts In the loading
stocks, although it was fhjly discounted
by the movement of money day by day.
Peace nens was of a more positive
character In the statement to the PortT
hy Turkej's war minister, that Turkey
was in no shape to renew hostilities.
The Commercial National Bank em
ployes, that Is, the male employes, di
rectors and officers, dined at the Com
mercial Club jesterday afternoon. They
also received a profit-sharing dividend
of 4 l-S per cent on -their salaries. The
J1.000 clerk received JIS. the JiOOO clerk
J30. and President Clapham, "4 1-2 per
cent on his salary." In all, several thou
sand dollars were distributed, and the
emplojes were highly satisfied with the
The directors of the Commercial Na
tional Bank, when they undertook the
establishment of a profit-sharing plan.
decided to make payments of not less
than 1 per cent on salaries nor -more
than 10 per cent, but they did not putional at . Citizens' Savings at 3. and
proposition into effect until a year
ago, at which time they found that the
distribution would total 3 per cent.
That the raiment this year is 4" per
rent Indicates plainly that 151"! was a de
cidedly prosperous year for the Com
mercial National, the most prosperous
In its career
t last the question of legality of the
ownership of 3,510 shares of Georgetown
Gas by the Washington Gas Company
has found Its way Into court.
As to the disposition of the case, the
arguments pro and con. and the final
btatus. time alone can tell, but It is In
The Georgetown Gas Company has
been controlled b the Washington Gas
Oompjnir. through majority ownership,
for seventeen years: although the claim
is al made that former President John
It McLean did not deliver the con
trolling interest to the corporation un
til October 2. 1907
The Washington Gas Company exer
cised all the powers of controlling own
ership until June, 1312, when the trouble
At that time the directors representing
a minority of stock refused to permit
the Washington Gas Company .to vote
tlie majority of stock, 'declaring the
stock to be Illegally held. Before this
an allottment of Georgetown Gas bonds
had been made and delivered, the former
company receiving Its share.
When the last dividend was declared,
only the minority shareholders received
pro rata of the distribution, the theory of
Illegal holding being maintained. The
minority thus has control.
The Washington Gas Company direc
tors took no measures to force the Issue,
nor would they agree to the purchase of
the minority holdings, nor yet the sale
of their Georgetown stock, although
meetings were held and consideration of
the matter given full airing.
Georgetown Gas, which has been sold
as high as 1143 a share, has not been
quoted on the Exchange for some time.
Efforts to obtain actual gas by' the
Georgetown Gas Company, while clean
ing Its own plant, were not successful,
either from the Rosslyn company or the
owner of the Georgetown company, ex
cept oh conditions that were deemed un
just. "Finally, the Washington company
did make concessions and furnished some
The Georgetown Gas Company also Is
said to have received gas from the
Itosslyn company, even when conditions
between the two companies wereientirel
amicable, although there is a decided
question as to the right of the Rosslyn
company to sell gas in the District.
Moreover, the purchase from the Ross
lyn company is asserted to have been at
the expense of the Washington com'
par.?, which should have furnished the
The Washington Gas Company could
supply the Georgetown company with
gas at a low rate, without material In
crease in cost, and at a saving of "1110,000
a year between the present aggregated
operating cost, as Individual corpora
tions, the smaller corporation simply
making sufficient gas to hold Its charter
Not seeming to (jet any nearer a. solu
tion of the whole matter., Thomas I
Hume, who has been a thorn in the side
of the Washington Gas Company for
years, one of the largest operators in Its
stock. largely responsible for forcing ex
tra dividends from the company, and
for a change in the personnel of the
president and directors a year ago, has
brought suit to compel the distribution
to the shareholders of the holdings of
the 'Washington company in the George
town Gas Company-, alleging neglect In
not forcing an agreement between the
two companies and not exerting its
rights as controlling owner over the
In a word. Mr. Hume Is endcavorlnr
to have the status of ownership of ZZtoiVT.
shares of Georgetown Gas Company
stock by the Washington company de
cided. It Is a fact that a. unification of the
two companies would be In the Interest
of cheaper gas in Georgetown or that
section pf Washington depending on the
Georgetown Gas Company for Its gas.
The Washington Gas Company' has con
sidered, the price asked for the minority
holdings In the Georgetown company too
high, yet the purchase has been consid
ered, and apparently the matter was
near atlosure up to a short time ago,
Financial Interests have hoped for ft
union of the two companies, but have
thoroughly understood that any move
ment of this kind prior to the passage
of a. utilities bill for the District and the
appointment of a commission with 'au
thority to act would meet with the
All corporate and financial Interests of
the dry are back of the effort to secure
a public utilities law, and the negligence
of the lawmakers In attending to this
Important matter Is causing much un
Washington Utilities Company officials
do not believe that the law can In any
way Interfere with the programme of
accumulation of securities as mapped out
by the directors of the corporation.
in their answer to the district at
torney's bill for an injunction, the de
fendants simply demurred.
Commenting on the matter. Mr. W. B.
Hlbbs yesterday said: The Utilities
Company is going along quietly, attend
ing strictly to business, and l do not
believe that there is any way to pre
vent the carrying out of the purpose of
the corporation. Any one can bujr stocks
where stocks arc for sale, and the
would-be buyer has the price. That Is
all the Utilities Company has been do
ing, and it acted within Its tights."
Washington Railway and Electric
stocks and bonds were bid up on 'change
and with more snow of earnestness than
for months past.
"You will have to buy back these
wasmngton luuway and Electric se
curities, all of them." said Mr. Hlbbs.
"They have the real value In them,'
he added, "and If the people of Wash
ington knew what they were actually
worth they would be paying "higher
"Why, any one who wants to take the
trouble to compare the earnings of the
pany with those of the Capital Trac
tion Company will be convinced that the
Washington Railway and Electric com
mon stock ought to be selling where
Capital Traction shares are, that it Is
Just as good stock, better, according to
Bids of S81-; for the common stock
of Washington Railway and Electric.
90S-8 for the preferred, and S31- for
any part of 1100,000 Railway 4s accentu
ated increasing firmness.
Sales were at S81-I and 301-IaDl. re
spectively. Washington Gas was really the active
leader.) 140 shares going on the record
at S3 5-S for round lots, and SS for odd
Knowledge of the suit filed In the
Washington-Georgetown case was cur
rent on 'change, but It was without ma
terial effort on the market.
Bank sales Included Commercial Ja-
United States Trust, an odd lot at 140 1-4.
A sale of Eastern Light and Fuel was
reported at E0.
Sales of proxies on Washington Gas
shares for the annual meeting next
month have been reported at "no per 1,000
t, PPsitlon to the re-election of
President Letter and one or two direc
tors Is increasing, and shareholders are
being urged to hold their proxies, at-
irna me annual meeting, and see what's
doing, or else await the formation of
another committee. The claim is per
sistently maoe mat the salary of the ex
ecutive is entirely out of proportion with
the Importance of the position and that
r.n utter lack of diplomacy In the mat
tir of reaching a conclusion In the
Georgetown Gas case has been displayed.
Proxies sent out from the "Ins" but
perpetuates their power and does not
give the shareholders a real oportunlty
of expressing themselves. It is a cor
porate habit to perpetuate control, and
often makes salaries the solo object
thereof and corporate service secondary.
A year ago there was a short fleht.
during which the Insiders hustled -for
proxies, and the stock advanced to 91
and better. ,
The chances are that the 1813 proxy
fight will be a factor.
It appears that the sale of American
Bonding Company, of Baltimore, to the
Fidelity, Deposit Company was a coup
on the part of the latter organization,
and that In putting It over negotiations
then going on with the Maryland Cas
ualty Company for the purchase by this
corporation ofN the American Bonding
Company were brought to a sudden and
The United States Trust Comnanv
opened. In round numbers, 22.000 accounts
In connection with Its 1S13 Christmas
Last year 12,000 entered. Of this num
ber 1,000 confirmed savers abandoned the
club business and. became regular de
positors in the savings department.
The two plans comtemplate payments
of 1 cent the first week. 2 the second.
. the third, and so on for the year, or
oz cents tne nrst week, 51 the second, GO
me tnira, or 5 cents, then 10. then 15.
up to $150 the last week, or JE0 the
first week, C.43 the second, and so down
to 5 cents a week.
That the United States Trust Company
proms nnanciauy oy the Christmas Club
proposition Is hardly probable. The ex
penses of handling 22,000 -accounts, each
week, of receiving and crediting cash.
and caring for the entire scheme
throughout a year must be more than
the Interest that possibly could be earn
ed on the money, more so as the funds
do not approach an appreciable amount
for some time.
That is one of the best possible ad
vertisements goes without saying, for
It starts S-.CO0 people talking about their
deposits, makes them walking advertise
ments for the bank, and induces many
Just where It gets its hold on the nub
ile is that the funds are'hot to be tam
pered with even by owners before the
end of the year. -Those who enter have
got to stick. theyr"cannot help thenf
selves. If they quit they lose interest
on what they have on deposit.
It Is an educator of the savings habit,
positive teacher. Children take the
"02,73 club. Grownups the ft. One man
took ten certificates. In order to raise
J650 a. year hence for a European trip.
counting the Christmas clubbers the
United States Trust Company now has
"3,000 depositors, a sizeable army a
strong advertising personnel.
NEW YORK COTTON.
tanInKd br W. B. Hfbta & Co. I
Oprn. Hteh. Low. OToia. I
3Irch................ JS.T4 ltr tie 1M
............. u.i ji.s lira H.Ii:octobT.. .
..... JZW 1110 KM -fftaoreinber.- ...v,
............ IU0 1LS0 1LT3 U.T9 "eember....,...
WALL STREET GOSSIP
Professional operators are hunting fgr
weak tariff spots throughout the list, and
attacks may be expected along such
lines for a time.
Stocks that may be hit by tariff cuts
are Steel, Smelters, Taper, Sloss. Beth
lehem. Kepubllo Steel. Wool, Rubber,
and Lead. Corporations benefited are
railroad Car Foundry. Locomotive, and
Baldwin Locomotive common Is being
well bought, and predictions of a great
nee later In the year are heard.
Insiders are predicting higher prices a
uiug later in umno copper,
The bank. surplus Is expected now to
expandi steadily for some weeksThts
expectation Is based on the heavy Inflow
of cash'from the West.
There are good reasons for believing
that accumulation of Missouri Pacific is
quietly going on.
It Is sald'the reasons for the strength
In Standard Oil curb stock are big de
mand for oil products, low original prices
owing to ignorance of earning power,
and scarcity of the floating supply.
There may be more liquidation In Beet
Sugar, Smelting, Steel, and Rubber. It Is
said the Dutch selling of Western Mary
land precedes a. dividend cut, but' this
denied. Reading has earned Its full
dividend for the year in five months.
The buying of -Gas, Electric, Equipment.
Hill, and Norfolk stocks on recessions
Is expected to be very good.
The Pennsylvania lines west or Pitts
burg have closed for 6.600 tons of struc
tural steel, to be used-In the construc
tion of a bridgo at Sheridan. Pa., which
will be known as the Ohio connecting
Union Pacific announces that It has
placed orders for 246 locomotives for
Hartiman railroads, seventy of these for
union Pacific and Short Line.
The Federal court at Pittsburg au
thorlzea the sale of the Wabash-Pltts
burg' Terminal Railroad, with the stlpue
latlon that no bid less than J5.000.ono be
Josepbthal bought 1.500 Beet Sugar.
The article In the New Tork Sun on
Saturday morning on the Turkish sltua
tlon Is most Important, and. If proved.
means me enaing or tne war. ana snouia
help the financial renters of the entire
world. Confirmation of this was re
flected In the lower discount rates In
Paris, Berlin, and London yesterday.
Bradcn Copper starts the new year by
continuing to develop Its ore re
serves. Latest advices report i
covering of large amount of ore in
wholly unexpected quarter. In Tortuna
tunnel. No. 3, It was found necessary to
extend one of the crosscuts to aid In
stopping of the ore, and to the surprise
of the management the extension of the
crosscut continued In ore at the points
where seven years ago it was thought
that the width of the ore body had been
St. Paul, for November gross earn
ings. Increase. $1,"',0S5. Net operating
revenue increase. J6S0.SSS.
Puget Sound. November gross increase.
5S3.978. Net operating revenue increase,
Thompson Towle bought Union Pacific
this morning. Harris Winthrop sold.
Foreign houses Inactive, and they have
no further news on -the foreign situation
than was in the papers. Traders are
moderate sellers around the room.
Net earnings for Great Northern for
November, Increase, t731.2M. Lehigh Val
ley quarter ended September 30. 1912:
surplus after, charges. Increase, 31,031,174.
Bradstreet's predicts a good business
year; winter wheat crop starts out with
better condition, though with smaller
area than a year ago.
Content andw-Berner bought Union Pa
cific This stock Is temporarily over
sold In the room, and traders will buy
on first signs of a rally. Chlsholm sold
2.000 Reading to Chapman: Rudell sold
5.000 Steel, and traders all went short
on the strength of the order. Hugh
Murray and stop orders sold Mexican
Petroleum from 12 to 70. No amount of
stock came out. and It was plainly a
drlvo to catch the stop orders.
Harrlman & Co. London market for
Americans Is Irregular. Union Pacific and"
Steel showing fractional advances, with
declines recorded in other activities. The
unexpected passing of the Beet Sugar
dividend yesterday was a surprise to
the speculative element, and coming on
top pf the recent advance, provoked
profit-taking and short selling. To-day's
bank statement Is expected to show a
large Increase In cash. On Monday we
have Supreme Court decisions, also Pujo
committee activity. We feel conserva
tive purchases of the standard leaders.
particularly .those not affected by tariff
talk, will be in order on any Irregularity
Boston Private advices from New
York state that a sale of 31,0(10,000 pounds
of copper has been made at 173-4 cents
S. B. Chapln .t Co. The dullness of
the stock market yesterday was chiefly
due to the rather general desire to await
the decision of the Turkish government
as to whether they will accept the ulti
matum of the Balkan states for ending
the war and also the character of the
decisions the United States Supreme
Court Is expected to announce Monday
on the much-discussed Minnesota Rail
road rate case, and the terms offered by
the Union Pacific for dissolving the
Southern Pacific merper In accordance
with the recent decision.
Liquidation practically was completed
during the forced calling of loans "in the
money stringency of a fortnight ago.
Only the readjustment of scattered weak
pool accounts in special stocks have
since remained to be cleaned up. The
completion of this process has been the
principal .feature causing the decline In
the several Industrial specialties this
Thus. on-the whole, the chances are
more favorable for a better trading mar
ket next week, providing the Balkan war
is settled and the court decisions are
NEW ORLEANS COTTON:
Ftunlahed by N. t Carpenter Co.
" Open. High. Low
January .. ll CIS- 13.S
March........... 12J3 lisj liH
May. R.57 CX UN
July 13.03 13.05 13.S7
NEW YORK COFFEL
Furnlsbed by.N. L, Carpntcr 4 Co.
... 13.00 13.10
... 13.10 13JB
-. 113 &s
July - .
Caa. Facile.... 1
Mo. Paelfle at
C. A 0 5
St Paul I)
S. PaciHe lu
Steel easa. i
GtuzeaaelM ... y.
Dearer pfd. ... 4
Miami Copper. iH
Pitta. Coal 3K
Texas .OH lft
Col. Fuel H I China Capper..
Car Foand.'pfd. ll IV. ........ Vt
Mexican PetroL2"4 I Sao Llae ......1
Calif. Oil lHlBeet 9 agar ....SH
NEW YORK STOCK MARKET.
New York. Jta. 4.
MAOO AnuIxuutAl Copper,
niih. Ixm. Oik
lLKO Am. -Beet Sufir.... 41K
30 Am. B. Bhoo a. r. ?
100 A. Bra. 8. it Y. pM UPi
1.X0 Am. Can. 814
an Am. Can rid 1KH
100 Am. Car rouadrr....... W4
100 Am. Cat,: foundry nfd.. lltvi
JCO Am. Co(W Oil... (Hi
im Am. Malt. pfd. K
U00 Am. smelUos J'i
100 Am. 8uzir. - ... lit
S90 Am. TeL, Tel.....
1,000 Am. Tobacco
an Am. Tobacco pftl. (new)
. M U9i
.sett aoH sen
. irot Km iron
TM Am. W. VVta. ld 9 S7H
LSM Anarooda 40 sm
103 Ateabon 10Si lCCi WT
400 Allantie Coast Una. Ulti .rati U1K
100 Baldwin Loaxnotlta Co.... J1S Sltt
(00 Balttmora & Ohio 106 V&t
100 II. P. Goodrich rJ IK 16
l.KOBrookljTi Rapid Transit... ft WS
4J0O California IMrolrum &3H a
ilOO Oasadlin I'arlAr. 3th SH
1C Central I-Mthrr...... ....... SH 2U
400 Cnes-pcake ft Ohio. T) 71
tao (.-Ma. jr. & Bt. p 1114 1CT.
It CaW. "ft N. w! '.'.'.'.'.'". 137
X3Q Cfcmo On. Copper........ 47U
100 Colorado Furl ft iron 3V
10) Dram ft nio Grande pfd.. B
109 mulllm- Securities........ 214
lt D.. a, S. ft A. pfd B'.i
50) ErU "S
COO Doldarld CnnolldtFd.... 74
ho ii, ji. & Et r. pra.
1400 ttreat Northern pfd. l0a U0H U04
100 tlrrat Northern Ora nba... 41
10) Gturcnbrtm Exploration... B"4
200 Ilarina Electric stta
M0 Homntako 110
100 Illtnoia Central E7
an Intarhoro-Mrtropolitan ...r 114
0 lntrr.-Mrtra. vti CP4
S09 International mrmtrr.,
. nu uiw
100 International raprr......... IS
1C0 International raprr pfd.... 47Ti
KO International rump......... IS
2D0 International Pump p"d.... 47
100 Xanau atr So. pfd..... tl
100 Klrftv Ifd ......... KC
100 U&Urh V.IIfT... 1C
3B Innirula ft Naahrtlle...... HI
39 Manhattan Heratcd U0
3.000 Mniran rrtrol TS
100 Miami CbPKT "R4
100 SU Bt. T. ft S. 8. M...... 110H
ljm MUaourl P. rifle 414
an v. it. it. of m. a rd...... n
400 Nevada Con. Copper DS
2D N. Y N. H. ft H.;i 131
CS Northern rarlfie. El
100 r.dno TrL ft TH... H
l. Pcuraolranla IUilnxd..... 13
an reopia'i r, ft c. lH'i
an IltUburg Coal 3
1.000 I-itUbnrr. Coal rd 80S
XO rmard Strtl Car S
100 rnllman Palara Car....... IB
100 rtr Hied Sprtcx 34
X0 Bar Con. Cupprr SS
H.100 Reading IKS
an Reading 1st pfd a
100 Kenublle I. ft a. pfd KM
SO) Bock liland... St
ICO IUusHt rfd SO.
100 Sean Roebuck HO". SOS S
Tno Southern VaQlle. K 1C6S 1W
ICO Sonthrm Railway pfd 81
an TennraM Copper........... 39S
300 Texts ft Part fin. 22
tan Texaa Co.-... ISO
an TMnl Arms R. R. 39U
900 tin. Bar ft raprr.......... ri
100 Un. Rag ft raprr pfd.... OS
lL3n Union raetse. Kl
an U. S. R. ft Imp. TJS
an IT. 8 Rubber. R
M0 U. S. Rubber lit pCd...... 1CTS
tlfiCO V. 8. Steel OH
30 11.8. Eterl rd 110
U00 titan Copper OS
1.U0 Weitera Marjlaad
SCO vroolworth 113
NEW YQRK MONEY.
Nrw York. Jin. i. S!oot?7 on call tlitf week cs
dlDrd ihairlr. The ruise for the week ni T frr
cent high cd Tn cr ont low,
Tba moocr tor tfatr d-f U5V per cent; toe Uiret
ad four months, i per crnt, for fire and six inosth,
4-S per crnt. Inactive, with broken b-oMinc off.
CUnmrrrial paper: Prime, aiztr tUra, S per cent;
Binetr dJ. f-zr Htp. and tlx tnoolha, - per crnt.
Ktcti-m achamT market: Catales quoted at tS&Cfc.
4.MS; dGTUDd strrllnc. 4JC)aL8GS; franco iUS;
marks. 3U5-K, Hns 1-31
ItrrUn market: DboounL Tjortdon. 4 IS 14 rer
cent , raris, I per cent; Berlin. 4 per cent.
Cxrbaiis on London: I'atls, 3 ISkt; Bertm
OUTSIDE SECURITY NOTES.
New Tork. Jan. 4. The trading en tb ootalds t
curitica market today was quiet and with a steadier
tone prrrailinp. United Clear Store was the feator
and with prior" changrs more uniform, altbcnfa the
tendency was toward easine-. Standard Oil abate
cootlnncd flrm. Britlh-.&merican Tbtaoro and To
baoco rrodrjcta preferred were steadj. Bradcn Cop
per sold np to Its recent hlh Irrel carl;, rectinjr,
bowrrer, near the dasr.
NEW YORK CURB STOCKS.
Anglo.Amencsn Oil 19
linden Copper..... KS
British-American Tobacco.............. 3fS
Britlah Colnmbta Copper ......... VA
a rsso.. P4
Giroox ContoDdated...... ........ 3S
Emerson Brant....................,... cTsH
Earaon Brant tsd W4
Ilonston Oil com.......... IT
HoDiton.Oil rfd -n (3
Kerr Lale.. I
Manhattan Transit...............H... fr
Mctasing Mlnca .... tT!
Ohio Copper. ......... 1
Standard 00 of New Jersey............ CM
United Cigar Stores com....... ........ V
United Cigar Stores KM................ lis
Tobacco Products pfd......... .......... SSV
Adams Express 4a. ,......M........ 79
Chicago, Berated 5a.. 91,
I-acisc Caa Electric 5a.............. n
West Iadsc 3a. S3
BOSTON -COPPER STOCKS. .
' Bid. Asked.
Bohemia M. 3 3S
Guumet ee Arixona........H..HHM.. Tlli
Calumet A HecU.......... ........ ......... HO
Copper Range....!.. S2 si
East Butte 'its II'
lrsnklin , 8H
Indiana M !& T
taa ..... . 3SU 3
La Salle s jj
Mason VaUey....... r. .... 10
Mayflower ................................ u i,
Mergrnthaler ... SSM S9
Michigan ....... l j
Mohawk si 3
North Butte. ,.. m
North Lake rv.
Old Colony... ...... ........ .-. TS
Old Dcralnloc. OS
. ....V.103 JM
..- TT -,t
.. 13 13-,
i. lsTH US
.i IK u
-. 14 1
.- it TM
Qulney , ....
South Lake. .....
CHICAGO GRAIN MARKET.
rurnUhcd by W. B. Bibbs Co.
WHEAT- Open.lllrh. Low. Clcse.
May.... . im 9l tiu v
Juty. ot' Vt l Kit
May -.... 4Pi ari tW4 4Tji
.July . 4St "" iWu 49!i
New Tork, Jan. i. The statement of
the actual condition of clearing-house
banks and trust companies for the week
(five days) shows that they hold R3.
HK0 reserve In excess of legal require
ments. This Is an Increase "of 37,46750
from last week. The statement follows:
8rcu ......., jn.ra.ooo
Ital tCTder..... ............ SS,ttiO0
Nt drpMlts................. ijn.o.ooo
B-vrJa cub neni la
Trust ixaapauoltm' cuh re
err in fialL,. ...........
Attngite cuh raerr...
Exona Uwfnl r-MerTt. ......
Troit CDapxriei reserre.
wiu cieanns-ooa man
ben mnrl&c S pa" cent
Summary of State banks and trust
companies In Greater New York not In
cluded In clearintr-house statement:
Lon ..................... ixxsAsot mjxujn
Sped WftW 2-Sa3
l-nl tAm. ... LCrtSGO
Tool opoitj. disuno -l.El.4M
IUxu netltr.S. (long), SUM It 103.
Potomae consolidated Sa, flOO at 100.
Norfolk and Waihlngton Steamboat ". "S0O at 105.
Waablngton Railway and Cectrlo common, S at
Woahhuton Railway and Electric prtfernd, B at
son. x at 504. loan.
Eaatara Ught and Foel. S at 130.
Waihlngton Ou. I at it. S at 85. I at at. at
, 3 at Si,. 3 at fO-a. S at 'Ci. 3 at IBS. S
Merreathaler. 10 at SH. 10 at 1UV
Commerrlal National Bank. 10 at 306.
United Statu Tmat, I at H0U.
After eall Viaihington Railway and. Electric o,
POO at CS.
Wuhlnrton 'Railway acd Electric tTrfrrred. I
Citizens Stringa Bank. M at 21.
II. P. rrg. 3k
IT. ft. coupon za...
U. 8. ret 3
IT. 8. conpon 3s..
V. 8. rrg. is.......... Ill's
C. B. coupon U....... 11T4
Oeorretown Gts 5s....t M
Wiahingtnn Ois 6............ 109H
Capital TractVn la .... BM,
City & Bnborbu 5s.... ....... ......... H3
ColumbU Ca 100
rotnmbta . 101
Metropolitan 5s. K44
Waahlngeon Railway & TOeetrlc 4s...... t3S
Waahtngton, Alex. & ML Vernon 5s .,
Potomaa Elertrto eons. 5a...... ft
rotomsa Ekotris light 5a. 10H
Cbesipeaka U rotomac Telctono 5a.M. 104
American Ttlrpnon. at Telegrapn 4s.. .. 100
Waablngton Market fa, 133 . 100
Washington Market So. 1KT............. KO
Washington Market CoH Htorage 5s.. MO
.Norfolk ft Waahtngton Stramboat 5a.... lot'.
Rlgza Realty ts flongl HCi
Riggs Realty 5s (snort) ICC'4
public rrnLtTT stocks.
Capital Traetlm K3
Waablngton Railway 4L "Ortrlc com S3
Washington Railway k. Electric rd.... 90S
ffuninrton-Vlrrhils Rtilwsy id...... ...
Norfolk A Washington steamboat...... 390
Washington Gas ..... SS
Eastern tight ruH .. t
American Telephono & Telegraph .13S
TTPB MACHINE STOCKS.
Mermthsler Unotipe. .... atH
Lsneton Monotype............ ............ SsH
OmueCananca .......... I
NATIONAL BANK 8TOCKS.
Commercial .....H............M. ..H. "15
Farmers Merrhanta' 3U
Lincoln ............H........M....M..... 150
Rlggi -. ......, 580
TRUST OOMPANT STOCKS. ,
American Seenrity A Trast.............2x)
National Savings i. Trost...., ssn
Union Trmt. ta
Washington Loan at Trmt.. S3
United States Trait. ........ ...Ill
SAVINGS BANK STOCKS.
Hank r"ee&"i""saT""n". T4i
East Washington .... ..................... IS
F1RX INSURANCE STOCKS.
Corcoran ..,.................. 80
nrnoen's ..................... 19
German-American ......................... 350
National Union - T
rotomac . 30
, TITLE IN8URANCB STOCKS.
Beill Esute 93
' MISCELLANEOUS STOCKS.
Charts sacks ........... 1(5
D. C. rarer Mfg. Co......... i
Grspbopnon. eom.........M......H..... 43
Graphophone pfd . TS
Security Storage -310
Washington Market. n4
BALTIMORE C1TT STOCKS.
niJtlmore City 3s, ir.4 101 .....
Baltimore City 4. 1334. ;,
O 4.S STOCKS.
Cons. Gas. E. L. A P Css. gT
Cons. Gas E. L. A P. com........ .....
Cons. GuCL.tr. pfd -
Citlxens' National Bank 43
Maryland National Bank a
Coal A Coke 5s t.. 93
Coal A Iron Ry Co. 1st ..- . 109
Florida Peninsular cons. 5.., ........... lOlti
Georgia A Alabama cons. 5s. Mt.
Georgia Soothers A Florida 1st 5s lKt
WUmlngton A Wrldon grid is ... grit,
Atlantis a U rlgbu fW. D- 3
Northern Central Ry -.. 119
Seaboard A. L. com.. .............. U'i
United By. A Electric Co. -
STREET RAILWAT BONDS.
AnacMtla A Potomae Ry. Ca..., - 99 9EU
Uslv Sn. Point A CBei. 4is -W.
Cha.-Con. Ry. O. A E. 5s. SS 9P.
llty a; acnurrjan 1st M. .
Fairmont c (Hark, Taction It.
Lexington By. Co. 1st 3s .
Metropolitan (Wash.) 1st St.......
Norfolk Torts. Traction 3s
Culled Rys. at Hec. Ut ts........
United Rys. 4 dec Inc. 4a.....
United Bya. fdg. Ss.
Tlrglnia Ry. A. Power fa...
Fidelity as Deposit Co. -
Msryland Casualty Co...... lot
U. S. rUelity A Guar. Co. -...; 1
Munsry -Trust (W. LI. 191
Baltimore Bectrlc 5s.- 9C4
Canton Company. 13
Cotton Duck fa 71
German Fire Jns. Co.... - .....
O..B.-3.. Bfewing 1st 4s 4M,
Houston on com. tr. ctfs........ ......... ITT
Houston OU Ui. tr. ctfs....... ...... Mi
Milwaukee RefT Vnt...... ........ .... tOU
Penn. Water A Power com.............. (fti
Penn. Water Power Ss. -.. 93
United Bectiio lit cons. 4hs... Ki
JackjonrlUa 5s. tCL.-... 1031a
nooston OUT drr. ctfs. -. tl
Roland Park E. 4 W. Ss 11
Consolidation Coal Co.-.. 100
Cons. Coal 1st tha 103
Toronto,- Jan. .4. Closing quotations of cobalt
Bearer ConaoUdaled .tOi .11
Cbambers Ferlsnd.. ....... ......... 3 JSi.
City of Cobalt..... - - .40 .43,
UNaUt Lake... .Uli
Conlagas "'' -..
Crown Reserre 3L40 ....
Fbstcr i.....r . K .01
Gifford .OS .OS.
Great Northern- .........-... .Oils .ODt
Kerr Lake.-... ........... .. 113 ,.133
La Rose...- 139 its
McKlnley Dar Ear..................... LM LM
Mpiasing -a5 SJ
. MISCELLANEOUS OWDS.
Net Tork, Jsnv C-oauff'traccatlooa cf mljccl
Va. oHj Irs Brora Broa Co, etfs........... H
IVLlS Cainl " r-Wi
aJlaralmeii 6s. troat company ctfs....-..
AT. fc'8. !" general a...L,.....r. KS
Atiantlo Coast Line as. ........ 9R
Baltimore sk Ohio gold ts.-..,UTI."""I 104
Brooklyn Rapid Transit 4a.. '..... "" jot,
Cheaapeak Ohio eon. Is ,. ..lew
Chesapeake Ohio ctt. 4Ks n
tt, B, A Q. Joint ts.......... sart
Chit. Mil, St. P. tl YJ..ZZ". 1C4
(i, R. L sc P. eoL u. !"I
9S'1Pr? Ieb- " ( receipts, faH paid) lot '
Ifflnola Central rfdg. 4s. !. tL.
Indiana Steel 5s.. ,.. ...7.ZZ"'" M
IrnrboniMetropolltan Ka...... """ ri
Kansas OtT-Bo. 5s... .
Liggett Myers Ts "" wT
Liggett Myers Sa: ,S."' ITS
Missouri. Kanas A Texas 4s. ..'" ,
New Orleans. Mobile A f,.w.i.f1 ,.. jj
Nw Tork Itatlwirs rti. it.......... " rrii
New York Railways sdj. Js.f sS
Norfolk A Western con. 4s.. ...... sea:
Nortnera raetto !.-......... , 2
Pennsylrania real estate is........... ........I loist
PennsrlTsnIa-R4s. 1915. ! "' i
Kay Consolidated Cspprr . . jj.
Beading gen. is...., .... ... 97
St. Lonta A San Frandaco rfg. 4a....... " jjh,
St. Lonla Southwestern eon. 4s.........." ai
Seabosad Air line 4a. stamped..... gj
Sootbern Bril Telephone A Telegraph is......... 90s
Sootbem Iacifle cot. ia............,. 5-
Southern Padsc crt. 4a..... jjjv,
Sonthern Pad&s rfg. 4s....-,........MM... 534
Sontbcm Railway 5s.........,...........,,.,.., pp
Southern Railway is. .. r
Texaa Company crt. as........,.. .....-. K0T4
Tbird ATenocrfg. 4s. .......... ,..... ....... ts
Third Armoo adj. ra. ......... T54
Virginia Railway A Power fit...-....- ..... 95
Wabash P. T. 1st 4a (Central Traction rtfs.1... n
ColnmbU Trartlor ctfa ....... 3
Western 3Isrjland 4s. g?
Total sales, P.123.003.
rnmlsbed by W. B. Bibbs A Ca
PORK Open. Hlcfc. Low. C3ot.
J.nnsrr.. ...... ........ It.TZ ITJJ 1TJI n.
May. 1 UK 143S 11B 1S.2)
January... IC ;9.tT 975 9t7
Mar........ 9.C 9 93 .C 9.1
January.. ...... iC J 77 IC 973
May. 913 9J0 9.T3 lit
WHOLESALE MARKET REPORT.
Quotations riieo below are for large Iota. Jobbers'
prices are higher.
EGGS-Ntarby fresh Virginia. SaT: West Vir-
glcla and Southaest Virginia, 3U35, Tenoeasee,
BUTTER Elgin fancy, per Ux. 3ia39: Western
firsts. 34a3i; seconds. 34a3S; store-packed. Ba
CIIEESE-New sork State fsetory, new, Osiri.
roULTBT Kens, per lb.. ItsB: roosters, per Da.
Ia9: turkers, nOr chickens. UaU; docks, per lb..
DRESSED rOULTRr-Ilens, choice, per lb.. 1U
; turkeys, per Ici, Xas; ducks, llali: chickens.
GREEN ffiUlTS-Avjlea. box. I KiitO: bbL,
LOOslSI: Florida oranges. LTSsiS; orangta, Call-
fomta, box, I.Tairo; gTapefrutt, per box, .23aZ.T3;
pineapples. XCAsTM; cranberries, bbt. "Uns9.00. tan-
gertnrs,Yer strap. Z.00B3.3O.
MAT AND STRAW-lIay. Uestrrn. No 1. 31.00a
3U0; M z, BOCliW; mixed hay. rf.0OaU.DO; strsw.
rye. bale. (JOafJO: machine thrash. J. 40.10.00: strsw,
wheat, per ton, L5oa7-00 straw, oat. per ton. 7.00s
VEGETABLE!! Potatoes, No. 1. rer bo- SOaaV
per bbL. LSaLTS; No. I. rer bbL. 75aL00; sweet,
per bbL. SJOsXOO: yams, per bbL. LSOaTS; pnious,
per sack. L0CU.10; Spanish, per crate, tosl.00; cab
bage, per '100 lua. SCa3; lettuce, per basket. LOOa
100; string 'beans. Morula, per basket. UOaTSO
squash, per basket, SOaUO, beeta, per lot bunchea.
Xwauo; tomatoes, per crate. LSOaXSO, cucntabert,
per dos, 7S; )lorida, ".00s3.00 per basketr celery,
per doc. 50a99; egg plant, per crate. LSOalOO; celery,
per crate. 3,0CJO: peppers. LSaL50 per crate;
Florida whits vrassh. LOOaLXS per crste.
OAME-Rabblta, per dos.. No. 1. ICOsiS; No. Z.
per dor., LOOaLSO.
UVE STOCK-Sheep. per lb, flia3H: lambs.
pr irx, Tas, caires, choice, prr lb.
WOOL AND niDES-Wool, washed, free
burrs, per Ibi. 30.33. woof, unwashed, per lb.
9; bides, dry. prr lb, Ua33; green, per lb.. C; salt
hides, dry, lb.. 13; green, per lb.. 13; call-
skins, each. LSaLTS.
GRAIN Wbeat, per bu, SSsLO: com. slclled.
rer bo.. (DsCS; ear, newj per bbl J0al33.
13.co.a3: timothy. LU3J0: bhw grass. LSTsCOO:
orchard grass, LSSaLOO.
NEW YORK PRODUCE.
New Tork. Jan. 4.-UILLTEED Firm: trade w
dull. Spring bran. tLO; standard middlings. 2LS0;
Western red dog. 27.S3; winter wbeat bran. In 103-
rnund sack, to arrlre. 3UO; city bran. In bulk. 31ui
Klis-stcady. trade U slow. Western, to srrife. u
talued at about TO. c L L; track and State, at TT.
HIT FLOUR-Trade dull: crices are steady: good
to choice quoted at IfEalGS. In barrels.
BUCKWHEAT FLOUR-DoIL supply Is llrtu
Choice- nominal at 149 for 100 pounds.
COKNME.IL- Steady: demand is moderata. KUn
dried, new, for export, 335sX30; coarsa meal, in
beta. LSaL3 for old.
HAT-Rrrriiaa. 11C tons: steady: busicesa la dnO.
No. 1 timotby. L0TaLI9. standard. LC3; No. 1 Lisas
L03: No. 3. STHsM.
SIR T-Rereirta. 30 tons: steady: lnauirr 1
Quiet. Ig rye quoted st 90. Oat straw Is scarco
and Talues uncrrtain. possibly 70.
I-ORK-bteady: demand is lifeless. Mess. HtDa
I9JD: fimllr. 210-a3Z0.
UEr-stcadr. otrrrugs are light, and trad duIL
racket. ".033.00: family. :4.00ai.00. -
LARU Eajy; light dealings. Prime Western.
10.13; refined contiwent. 1143: South American. 1LT0;
refined Bnilksu. in kegs. 13.T0: beef stearine. 9i:
lard stearine slow; New York. 131.
REAL ESTATE TRANSFERS,
1HJ TwentyIxth street. Northwt; Twenty fourth
Btreet Northwest, between I and K Streets:
Florida Arenne Northwest, between R and 8
Htreets; alley, between L sad JI . Twentieth and
Twenty first btrcets; Corcoran. Street Northwest.
between sixteenth and SersMeenth Streets;
3Iarrlsnd Arenue Southwest, between Sixth and
SeTcnth Streets; 1307 Delaware Avenue Sooth
west; First sod P Streets Southwest ; First and
O Streets Southwest: Canal Street Southeast,
between T and U Streets; Canal and Y-(Streets
Southeast: Second Street, between U and V
Streets Southeast: First and O Streets Souta-
esst; E Street Southeast, between Sixth sad
Serenth Streets:' Twenty-sixth and C Streets
Northwest; Q Street Northwtst, nesr Twenty-
erenyi street, and Mount nesasnt H. Korler
Dulany, trustee, to John W. Pilling, half ln-
srresa m part cnguul lot I aid 2, square west
of It; original lot 9. square 3; lot IS. sanars
O; lot St. square 190; lot "f squsre TT: lots
un; square 4a; lot u, square 5i; sou l
and S. square 599; original lot 19. squsre 08.
original lot S, square 4i0; original lot 9. squsre
u; lot t, square south ccm; ortginai lots a
and 21. square S7: ran. lot CO. squsre ITS
part lets and xVsquare X3S. and lot 1. block
u. Mount Pleasant and rkasant rlalna, Jra.
Cranby-Samnel W. rickford et nx. to Clara
rnce. lot 10, tit.
Bkhmond Park-Hubert M Snow to Augusta
noooMrg. lot a, square 3M5. xtg.
l Droit rsrkWohn SI. Henderson to Lucfle P. Bor
den, lot lGTu sansre wo cm
H Street Northeast, between Fifth and Sixth Streets
-uouis i". Krey et al. to Walter Donaldson, sot
E. squsre IR SIS.
Girl's Portion Albert F. Woods rt ux. to John M.
and Lena S. Sylrester. tart, UO.
il Street Northeast, between Sixth and Serenth
Streets tllddaugh II Shannon to Otto A. and
Sarah 8. Tingling, lot S3, square (Si. SO.
Le Droit rark-Margery A. V. Carbart to Mary F.
Bishon. lot SO IJrrt !i 110.
Twenty-orst and L Streets Northwest (the Ijrxlngtonl
-Hsrry G. lAyrcrk to Charles II. Cutts. original
lots IS and K- snuarr Tl. 910.
ITS Maryland Arenne Northeast-Vattie U Gaskms
et aL tn Annie It. Abbot, half Interest In lot ,
square 100$, tts. T. D. aloneure et nx. to ass,
half lctrrrst In same rronrrtr. HO.
Tenth Street and South Carolina Arenue Southease
alarzis Both to Ferdinand and Ktlhartna Lam
brlcht. lot 3L smure 9T1. 110.
Trinidad Fred . Weber et al. to rhlllp H. Weber,
three-flfthu Interest In lot C square I0TO. CO.
Tma Park-Clara, A. Msrden rt Tir to Benjamin r.
FIPDersTr. lot 23u square 39. 9JS.
Takoms. Park-Margsrct II. taughlin to William f.
and Adele G. Aoery, lot V and ran lot si, uou
Longnecker'a Addition to Congren Heighla-Twyraan
8. Jones et nx. to Charles II. langley, lot U.
South Brcoklsnd and Adnltlon to Brookiand Darid
C Brandon rt -ex. to Mary & Gsmole. lot 9 and
tart lot X block a South Brooklsnd, snd lot S,
block 5, addition to 3rouklxnd, JL
Salvation Arrnr Se?rvlces.
Special services are belne conducted at
the Salvation 'Army Hall. 930 Pennsyl
vania Avenue, by the following- leaders:
Adit. L Hlatt and Capl. C Meyers. 8at-
urdar. S p. m.; MaJ. Geor-re Irriruj. Sun
day, 8 p. m.; Ensign unanes cuthbert,
ot Bnltlmore. Monday, 8 p. m.; Capt.
Clifford O. Benney, of Baltimore. Tues
day, 7 p. m.: Envoy John IX BerlnU of
Baltimore, Wednesday, s p. m.; Adjt
jyiiLi. au asreser, jnunKia. o s. nr., ana
js Lr. svonaia t, Aiacseuu. xi siuajr, a p.. m.
A I Boston clctreentei condenrned oogj la a sr
dal ejeefne cage,
Britiff back replies because each
ordfr receive! the same personal
mention. Irrespective of size.
You will And our letters free
from dark edges, broken type,
typographical errors, &c
You can safely intrust Impor
tant form letters to us, belntr as
lured hat they will be carefully'
edited and delivered on time.
2r9H LETTERS, $4.0
ALFORD LETTER COMPANY
""few Address I
i!7 15th Street R. W.
Second Floor Orer Fard Jt Gra
ham Dairy Loach. Opposite
V. 8. Treasrary.
Fhoae Mala 7S04L '
Tatre.Lmturiea. tlgm Utter.
W Gtts Totes tn Tha DmU'l SX
I What's Worth I
J More Than
Your Eyes ?
If they are Impaired in any
way, let me supply the right ?
-classes to remedy the defect. JJ
A. O. HUTTERLY I
732 7th Street N. W. t
Main 3298 t
TASTE SO GOOD
Chocolates and Bonbons
514 NINTH STREET N. W. ,
V W tjiwe Herald SKMO coateat wotesv
EffTTttln th brrt at In tlua tte uaaal prtct
Prompt. racrteoQi MrrlCs.,
Edward F. Davis,
HORNING, 9th and D
LAPKIN Tt" se-snna;
UMtXIMn, Maehine Man
Will repair your sewlns maehlaa
properlr no matter what male.
Bend postal, or phone M-333S.
Corner 3d and H Streets N. W.
Sis. Vetas la TVt Herald's aTtUa CxatsV
MEN'S SMART FIRMSHINGS
"nae shop that sells' the cleverest ot
men s nzmtrs lor less.
M. LEVITAN & CO.
Wah! & Co., 926 19th St.N. W.
We sire Herald CTUWO coateat wotesv.
Larcest stock ever carried. Also Laces,
Dry Goods. Hosiery and
KRS. .'. A. MOUDlf.
243G Georgia Ave. N. W.
We alvs Herald tmiOOO eoatesrt wotesv
Call up Main 1419 for AH Kinds '
of Printing Supplies.
J. W. JORDAN
623 O Street N. W.
Ft Ctie Votes tn Tha Herald'a SLOT Contest.
SMALL'S is the Hardware,
Store with the complete
stock and the little prices. f
Snail's Hardware Store, 713 7t St.K.W
We Glee Votes in The Herald'a T""UDS Coatees.
I can always supply your needs.
W. J. KROISE, Photo S-f plies,
08 G Slrwet N. W.
Wr tctva Herald S33MO caateat votes.
CE1EUL FIM1SHIK6 ST01E
Everything or fsther, motbsr, and
3304 Ca. Ave. Cot. 1334.
Get your votes here tn BsraM 13,000 Contest.
Means natural flavor and highest nu
IIOMEMADE BREAD AXD PIES.
2106 Pa. Ave.' W. 25
W. Cite Tela tn The Herald's S3.CM Cantata.
No Storage Charges for
neaaoaable ratra on atorasrr. hanllar.
and packing;. Eatlmalea furnished. Ex
pert aerviee. "
UNION STORAGE CO.,
eaw sld seers. .
T.,lJ'fe."er7th &H St5.N.E.
UTEST AMI NEWEST lESlfilS M
Se-a me for up-to-date Ideas. Katlmates. J
SAUijr ivctu -.
I. HJ5H USIPSLfl.W.
Ac lve Herald rlJ10 coateat TotesJ