Newspaper Page Text
THE WASHINGTON HERALD. THURSDAY. JANUARY 23. 1913.
Sales of $1,000,000 to Na
' tional City-Fletcher Na
tional Banks at 100.81.
LOCAL SECURITIES FIRM
American Security' Big Year Com
mercial National, 205 Bid Cor
nv 1. A. FLEMING.
Bids were opened in the office of the
Bureau of the Insular Commission for
rL.COO.000 Porto R!co 1 per cent sold
The Issue has the approval, as- to
locality, of the Attorney General, and
the Secretary of the 'Treasury authorized
the statement that they would be ac
cepted at par as security- for deposits
of public moneys on the same terms as
other Porto Rlcan loans.
The bonds are exempt from Insular
. and municipal taxation and approved "by
the Postmaster General as security for
postal savings deposits. ionan are res
istered and of $3,000 denomination only.
The bids filed were as follows:
Mlffln County National Hank, of Lew
Iston, ra.. for $5,000. at $101.
Royal Bank of Canada. New Tork, for
J2EO.00O, at $100.
SnelL Dinkle & Howes Co.. Chicago,
for $25,000 at J100.S7.
Commercial National Bank, of Wash
ington. D. C. $.".0,000. at $ion.
Commercial National Bank, of "Wash
ington. D. C. for $3,000. at $100.3.
National City Bank, of New York City,
and Fletcher American National Bank,
of Indianapolis, bidding jointly for .
000,000, at J100.SL
Awards were made as follows:
Mlflin County Bank, of Lcwtetown. ra..
$5,000. at $101. '
National City Bank and Fletcher
American National, of Indianapolis, IXC
COO, at tlOO.H.
The sale was certainly successful, the
price being considered reasonably high
for 4 per cent.
The successful bidders will make pay
ment January 3S to a designated bank
in New York City.
AmrrL-Hn Security's FIbmm.
The deposits of the American Security
and Trust Company at the close of 191!
were $S.40S.O; capital and surplus, each,
The gross proilts.for the year-wcro-JKE.-10X95
and net profits. $101.195.3. aril, as
will be seen by the following table, were
the largest In the history of the company,
both as to gross and net results:
Profits. Expenses. Profits.
Note Cents omitted.
The volume of business of the banking
department exceeded J155.PCO.ti00 and In the
trust department over $25,000,000.
Total amount loaned on collateral and
real estate was $6,400,000.
President Bell. In his annual report, had
this to say on pensions:
Recognizing that to a certain extent
the success of a flhancial institution de
pends on the fidelity and efficiency of Its
clerical force, your board Inaugurated at
Its December meeting a pension fund for
clerks, by transferring from the profit
and lossaceount the sum of $50,000 to
the credit of a Clerks' Pension Fund Re
serve. It was not deemed advisable at
this time to formulate any permanent
plan, but to start the movement now and
leave the details to be worked out as
experience in the future may dictate.
-It Is difficult to forecast the value of
a pension system, but there is no ques
tion that it will strengthen the bond of
fraternity between the corporation and
its employes by showing them that the
company will recognize. In a substantial
manner, the long and faithful service of
those who may become .incapacitated by
old age or otherwise.'"
A -sets and I.lnlillitlr.
Loans VUIS.KJ S7.GM.103
btocks and bonds. tfcCSS 3f4.6C
Bark buildings, 4c 730.0U) TJO.tXO
Other real estate 55.Z3 43,LJ
Cash on hind and in hint I.K9.9I7 ia5.0J4
Total $I1,.1S8 51I.iO.901
Capital S.00O.OTO S3.000.000
fmrrfcis ,ooo.oro iCOT.OO
Pcnanou fund mtre . 30.CC0
rjndMdal prodts. SM50 .
Deposits - 8.RH.21 S.kjC.an
Trust depodts. Sl S.7
Certifled checks. -IS
Interest rescrtc 76.5' .5es
Continental TrQig Ua rut new.
Charles W. Warden, vice president of
the Continental Trust Company, calls at
tention to the fact that the capital stock
of that "company was paid in monthly,
and that the average capital of the year
The ratio of earnings of the Continental
should have been figured on $S31.000
rather than on a $1.0i.000 capital, as
they were for eleven months'.and not for
Gross earnings, expenses, and net earn
ings were given yesterday morning cor
rectly, but percentage on average capital
fhould have been 6.2: per cent.
A decidedly creditable showing for a
Answer Dae To-day.
This Is the day when the Washington
Gas Company must answer to the suit
of Thomas L. Hume for a distribution
of Georgetown Gas shares held by the
former company. It was expected that
the answer would be filed last night, the
attorneys of the. company having fur
nished the replyyesterday.
The fifty scares of Georgetown Gas
that were to have been sold at auction In
New York were withdrawn.
There was a report that a meeting of
the shareholders ,of Washington Gas
Company would be called by parties In
terested in a change of administration,
when charges of mismanagement would
be made, based on the fact that the offi
cials had not forced the issue with the
Georgetown Company and exerclsed.thelr
control and received their dividend's on
Georgetown Gas stocks owned by the
The "Insiders" have sufficient proxies
at this time to re-elect Mr. Lelter as
president, but it is held that the presence
of the shareholder In person vitiates the
Washington Gas shareholders owe it to
themselves to be at. the regular meeting
and to vote Intelligently.
Rlggs bonds, long, furnished the chief
activity on the stock exchange yester
day, indicating that the-week spurt was
over and thatthings, generally speaking,
were back 'In normnl channels.
; Of 'this Issue. $11,000 sold at the uni-
xorra price of 103.
Railway and Electric shares were quiet.!
but very strong on reported excellent
earnings, .net. figures being considerably
over tne earnings In the previous year,
and the, depreciation and maintenance
charges liberal. The common sold at 86,
and the preferred at 91.
Washington Gas sold at Ui. Stock was
offered at StKaSS: S4i freely bid.
Commercial National Bank stock, the
late center of Interest, did not get on the
sales records. The first bid was 300. fol
lowed quickly by 106 without dislodging
Any stock. United States Trust, 1 to
141, latter .price bid at the close.
Announcement was made of Vie decla
ration of a.2U dividend on National Sav
ings and. Trust stock.
' Illcher "prices on Wall Street
The New1 York stock market opened
firm and In the last twd hours of the
session gained In strength rapidly. The
big news of the day .mu the peace story
trom London, the end of negotiations
being at hand and the resumption ot
the status quo without a European war.
The immense short Interest In the mar
ket Is its chiefest cause of strength. The
bears have made rich profits ana navo
overextended themselves. The leading
stocks averaged about a point rise while
some In the lesser groups made It VAuZ
The street feels that the negotiations
now being carried on for the Union Pa
cific by F. 1A. Vanderllp, director of ths
Union Pacific, and Attorney General
Wlckersham tor the government, in
Washington, must come to some definite
conclusion within a day or two.
The entire sales were but 330.000 shares,
the market at no time showing activity
except In the last few minutes ot the
Sentiment Is dldecldedfy mixed. Bearish
talk Is not as unanimous, while bullish
gossip is guarded.
Until the general business expansion of
the country during the past twenty-five or
thirty years and. more especially of late
years, the organization of larger commer
cial units with their requirement of new
and greater facilities, the trust company
did not find the services of Its corporate
trust department In such demand as It Is
to-day. Before that time corporations
borrowed heeded capital by selling mort
gage bonds to small groups of Investors,
one of the Individual members of which
generally acted as trustee of tho mort
gage; to-day these corporations borrow
from one to one hundred millions of dol
lars at a time, secured by mortgages to
ipsues sold to the Investing public of this
country and Europe.
The trust companies hold in trui.t the
mortgages against which mortgage bonds
are issued: they also hold In trust great
blocks of securities pledged for collateral
trust bonds; tliey act for holders of equip
ment trust bonds; they are Intermediaries
In escrow transactions between corpora
tions: they hold In trust millions In stocks
and bonds deposited In connection with re
organlzatloiin, mergers. &c.
On an average the new Issues- oj" bonds,
stocks, notes, and other obligations placed
on the market aggregate about $1,500.
OUU.000 a year or $15,000,000 per month,
which are offered for Investments to In
stitutions, banks, private Investor?, both
here and 'abroad. Of this vast amount
It can only be estimated how much is
huld in trust by trust companies exer
cising their various functions, but It Is
known that approximately SI Per cent of
the bonds of corporations whose securities
are listed on the New York Stock Ex
change Is secured by mortgages under
which trust companies act as trustee.
Furthermore, while the great city Insti
tutions act as trustee for large Issues
representing many millions of dollars,
the trust companies in the .-mailer com
munities throughout the country act as
trustee for local Issues which in their
aggregate reach an enormous total.
The New York Stock Exchange and
nearly all other stock exchanges In the
coufXry require in their constitution
that all active stocks must be listed
and that a trust company or some other
responsible agency shall act as registrar
or transfer agent. Since it has been
found, in practice that the trust company
is the most responsible agent and be
cause It has the necessary equipment,
practically all corporations, with but few
exceptions, enlist the services of trust
companies In these capacities.
lvhile the courts have held that trust
companies, as trustee under corporation
mortgages, or as registrar and transfer
agent, are not to' be regarded as guar
anteeing the value of the property un
derlying securities. It Is nevertheless
true that trust companies exercise every
care as if they were actually responsible.
Investors know this and therefore prac
tically require of corporations that they
shall call m the aid of trust companies.
The service which trust companies of
fer to corporations includes not only
trusteeship under corporation mortgage
In Issuing securities, acting as depository
for securities pledged for Issues of collat
eral trust bonds and as registrar or
transfer agent, but also consists of act
ing as depository .when reorganizations
are necessary, as receiver, assignee, and
fiscal agent. In fact, there la hardly
anything which a corporation attempts to
do In order to create new obligations
where the trust company is not neces
sary. In order, to prevent "fake" In
vestments, the suggestion has been made
by many authorities on corporation law.
that the laws of the States should re
quire the appointment of some respon
sible agent to act In trust capacities for
any corporation that Issues securities.
The public would then know whether
or not Investments have been passed
upon and approved by trust companies.
Famished by J. Ia Carpenter & Ox
, New Tork, Jan. :.
, w Last Tester-
Ttday. year. Today, day.
Sew Tort , 100 1J 12.30
New Orleans......-.! 4.43 6.019 KMS B5-1S
Gaheaton 5.3"3 18JST 12K II 5-IS
Mobile. 63 LOS EH 1!M
SaTannih.. .. 2.7TB 1S4 ITS EK
Charleston .,.. iw Ml lM KU
Wilmington ISO itC
Norfolk .. imi 131 Utt KV1
Baltimore J.... .T... 13K 1S4
Boaton 38 .... ' ....
Various 11.45! ,..
Total 1J.S3 ELMS
Houston 8.5C 1SS ES lli
Augusta...... HC 1,S KS E3i
Memphis 1.M3 1.4SS KS 1
St. Louh ' 4.763 B.7J3 KS 12
Little Bock IS 1.003 KM ITi
New Tork, Jan. 21 Mooy co all en the Stock
Eucfaangc to-(Ur opened t 24 tier cent; highest, 1
Vi; .orat Z.-ctoelnc't: per cent. Mod of the!
dj lotiu were nude at 2i per .cent. :
Time moner market has' again become duIL Tbe (
do disposition to loan funds at the bid n(e.
Rite are 2tta3 per rat for aixtr da;; yit
pcf cent for three and four month: 4 it crnt for
Are months; i(M per crnt for- six months, and
4SI per rent for ocr the rear. ' ,
Coxmcerciil paper is qniet and steady at ViaS
per cent for the best names. London- disrxm'nta.
4S, off 1116; ruis discount, 4 per cent, up H;
Berlin discounts, & per cent nnchsnjrd.
NEW YORK COTTON.
Furolshedjby W. B. nibbs & Co.
, . 4)ren.i Hish. Loir. Quae.
March........ J...... ;1T28 liil ITU 113
Jlaj.. ............ 1W .12.15 12.04 lill
Ja!r...... ............. ILK 11.99 1LKS 11.99
October. .............. 1LS 1L3S' 11J0 1LJS
WALL STREET GOSSIP
Steel is reported bypeclallst brokers
to be more heavily oversold than at any
time In its history, en accountof the tar-
iK and dissolution -proceedings.
A large number of bear stop-loss orders
are noted by floor traders In Amalgar
mated Copper near ruling prices.
Bull reports are coming, from specula
tive interests, which have been reported
as quietly buying Union and Southern
Pacific from uptown professionals, who
The character of the buying of North'
era Pacific and Great Northern continues
to oe very excellent.
Wo find! speculative elements Inclined
to buy the convertible bonds of the liar
rimait railroads and other leading com.
panics In preference to stocks.
Rockefeller followers say St. Paul will
be selling above $150 before next fall.
Bvldence Is had of reviving some of
the specialties pool. and on account of
the easy money conditions dally opera
tors will do well to buy for turns on
evidence of aggressiveness.
E. & C Randolph The market opened
strong this morning and continued so all
day. The covering movement which was
in progress continued In the opening
hours, and although there was .consld
erable profit-taking, which forced some
fractional declines, the tone held rood.
Toward midday dealings fell off, and
during the greater part of tne day trans
actions were very small. Shortly before
the close, however, the news that the
Turkish council had agreed to accept the
Drocosltlon of the powers for peace, caus.
ed the whole market to strengthen and
best prices of the day we.-e reached In
the last few. minutes. Ithode Island
stocks rallied sharply on shorts covering.
Canadian l'aclflc showed marked strength
and American Tobacco continued Its up
ward tendency. On the other hand Cot
ton Oil and Distillers were weak without
any special reason. Final prices were
In the most cases best of the day.
Cutting & Co. is buying Rock Island's
lturoors are current more persistent
than heretofore to the effect that the
Jlfhnesota rate caso will be decided next
Monday. It Is in addition stated the
decision will be favorable to the rail
ruads. As a matter of fact, cases in
volving national Jurisdiction as against
the State have been in favor of the
former, which Is the crux of tho Minne
Corn Troducts, United States Rubber,
American Can. Writing Paper, Interna
tional Paper. National lil-cult. Hide and
Leather, American Malt, National Enam
eling, Underwood Typewriter, and Dia
mond Matchare now included In the list
f companies whose earnings are likely
to be damaged by the proposed tariff
A tariff reform expert estimates the
benefit to the railroads of this country
through the projosed tariff reductions. If
put Into effect, would total approximately
Rumors are current that the Wilson
administration will gradually drop dis
solution proceedings against corporations
and endeavor to regulate them through
the Interstate Commerce Commission
fixing of reasonable rates and prices.
Reference Is made to the telephone trust
arrangements In this connection.
Louisville & Nashville earnings for sec
end week of January Increase, $SS,31j;
from July I, Increase, $1,$4W0.
The outlook Is for some further recov
ery In the general stock market. The
general market has undoubtedly been
oversold and Is, therefore, now In a bet
ter position to respond to any develop
ments of a favorable character in the
Developments in the Copper Metal trade
during the last twenty-four hours have
been such as to lead many In the trade
to the belief that the turn has been made
and that from now on a more stable mar
ket for the product will prevail. Since
Tuesday afternon buying of the metal
has been heavy, and the aggregate trans
actions aro estimated at SO.OPO.OOO pounds.
The protective committee of the Cen
tral Leather Company Is Issuing a state
ment calling for action by the directors
on the dividend for the common stock. It
appears that the company Is lending
about J1.0u0,000 on call In tile street. It
has also been retiring jbonds that are not
due, and the stockholders Insist that
this surplus be used for a dividend. That
is the reason for the advance of the stock
and a reason for expecting further ad
vance. Mexican Petroleum Company has de
clared a quarterly dividend of 2 per cent
on the preferred stock. This Is at the rate
of 8 per cent per annum, which rate has
been paid since 1907. The company has
abandoned policy of paying dividends of
two-thirds of 1 per cent monthly, which
caused many inconveniences and will
hereafter pay at the rate of 2 per cent
The American Cotton Oil Company is
estimated to be earning at the rate ot
over 7 per cent on Its common stock, com
pared with 6 per cent for the fiscal year
ended August ?0 last, and a deficit of
JX2.10G for the year previous. It is stated
by one In close touch with the company
that the Fairbanks plant In Chicago alone
Is earning the preferred dividend.
Distillers' Securities is selling at the
lowest price In Its history. Rumors are
current of something worse than mere
passing of the dividend, but the earn
ings seem ample to take care of fixed
charges. In addition to this the com
pany owns 51 per cent of the United
States Industrial Alcohol common stock,
on which a dividend could be declared
If necessary. There does not seem,
therefore, to beTany present cause for
The reaction' In the market In the
second hour was due td publication of
fresh VIewW nn mnrflmml tw "", Wil
son and of comments on those -views. I
The latestf reports Indicate that Mr.'
Wilson will, go to such extremes In re-1
gard to distribution of patronage that he
win alienate many members of Congress .
and thus be unable to do all he wishes
in the way of legislation. Opposition
to his corporation programme has already
developed In New Jersey. The programme
as stated expresses his extreme position.
and according to the ancient rule of
stock markets It Is about time for the
shorts to take their profits In this parti
cular Instance. They can look to Mr. I
Wilson for no; further help at present.
There Is nq 'official confirmation of the
report that the American Smelting and
Refining Company will lncrease.its com
mon dividend rate from 4 per cent to C
per cent at tho dividend meeting next
month. Those In touch with' the affairs
of that concern consider such action as
G. B. Chapman, with Harrlman &.
Co; Announcement that tho Turks
had agreed to accept peace terms and
end the war' 'forthwith caused a sharp
rally just, at the close of the market to
day. This news did not get sufficient
publicity to have Its full effect on the
market, because It became public only
ten minutes before the close. A .contin
uation of the rally, therefore, should be
seen in the morning. Peace In Europe
will cause freer buying of copper metal
and the Copper stocks should respond at
"once. Peace will lje followed oy an
nouncement of some .large, loans, but
these loans will put into circulation tens
of millions of dollars Sow held In. re
serve and It will stop the hoarding of
money la Europe. Another favorable
factor of the day was that the extreme
or Mr. Wilson s views on corporation
reforms were published. Wilson Is not a.
bear argument Just now. It looks as
though the shorts would be compelled to
cover and the action of the market after
they have done this will furnish a cue
for aggressive action.
Interboro Rapid Transit Company!
uecemDcr gross revenue, increase, xu,-
ic: operating expenses, increase. Jli43;
net operating revenue, increase, JIOSDa
NEW YORK STQCKMARKEtT ,
New Tork, Jan. r. .
-" nisn. Lov.Oaae.
100 Adasu rxnrraj MO 1M MS
100 Alli-Cli. M pfi IS Vi r
"-2" "'- ifl-JW. J5"4 7J4 15
sa Am. Art Chen. Si S3H SHt
600 Am. Beet Sugar. r- jr -' JTX
1 Am. D. B, i ft, rfd..... 13 IK IT
S.5W Am. Oan. 34 SK
S0O Am, Can. pfd 11SH IBS 11S-4
SO Am. Car ft Fdry.... 5Ji us 634
100 Am. Car t Wly Ja"d....... UM4 1UH 1154
400 Am. Oltlea nM ITH ft ,7t
Z.H0 Am. Cotton Oil SCi mi 1914
iw Am. jiioe L. pro . 38 X
an Am. lee SecurlUea tl 3S 40U
800 Am. Loeomotlrv W "06 I0U
100 Am. Iraomotlte r4 KSi 10!i 1054
am. jiait 12 13 12
S.1C0 Am. Bmettlns ... 73I4 TSS n
l,la Am. Snun" ... IB Ml in
2)0 Am. Steel Idry ;. 35 3 JJ
000 Am. Suzar UCU lie in
t Am. Tct & Tel.. K34 13JU ISW
TO An. -VV. kM . ..
as Am. Tobarra netr 103 103
ICO Am. Woolen, 18 IS
100 Aavta Ileal Co Ill IK
Z300 Alenlaon K6-i 10 BJH
100 Atehhoo pfd 101S 1W Ml
600 Atlantic Coait line 13H 13H 12H
iw uawaia Loounoure 61 51
ZOO Ililtimor- Ohio.... iop; Ids lOJVi
100 Bethlehem Ktcel .... 3S4 38H 3J4
uu 11. r. cjoainm 04 tl
L400 Brooklrn llapM Transit.... Ki mi 8"i
1.100 umoniu I-rtrolriim. ....... COS 23 IS
4.W0 Canadian rarine. JR 3N 211
WOT Central Leather. ... 34 S4 2)4
1.14 Central leather t4 'i 944
iot use-ainu & Ohio. TI4 Jni 7V4
0 CUcaco Great Weat pfd.. H4 JlVi SIS
.-.. n. & kx. r utvi .imi Hi",
xn Chicago It NorUnrratern... 137 1364 137
4.000 rhino Con. Corrrr 4U 3S 4
300 Colorado Fuel i. Iron, 334 3 34
JO CtmoIi4aU4 Oa un; 13 ISS'i
lin rrodnru. 134 13
no Delaware & Ind.cn 165 1C4
100 Dentrr & Mo llnndr. 14 SI4 S4
100 Denrrr 4. Itlo Crande rM. 3SS SI 3SS
juo "Jet-oil mitea K. IE, 71 79
3SOI niaUUera' Seruritle US IT
4.000 Erie 314 304 US
BD Ijlo lit rL ....... 44 M
3 Krio 31 rfd. 40 at)
a.0 Federal M. k f 18 IT
100 rrdrral SI. & 8. rfd 40 40
ICO. Cenrral Birlnc Co lC"j 143 d
ZW timera! Motor rfd ") 71
1.50J ('uldaeM CroaoUdated 14 2'
3.2U Ureal Northern ud 13U tz 134
2J00 Great Northern Ore anb.... 39i 23'i 294
400 Oncrnhrinl Eirloration... 43" Vs t
311 llomevak 117 117 117
2 Illinois Central 1"T4 127 127
TOO Imri-atlo-i Co-ir KM 17 IP
300 Inter.-Met ITS ITS ITS
wo Inter.-Met. ra tl to
300 Inter. Harmtor 1T54 lm 1CS4
100 inter. I-sr-T 104 104
200 Intr. Paper pfd afi 45
100 Int. Pnmp -(,4 i, lj
iui int. l-nmp pr fib 66
WO J. Ka'arr pfd 10TS 107 1071
3 Kan. utr Jr Ho 264 34
400 I.rtawanna Strel 43 '3
I. Lehigh Vallei ISIS lC0i MS
l.HO I.1S. & Mien 22) 2JT4 S3S
100 Us. Mjer- jd 118 116 lis
100 Loose-WIle- 3SS 3SS 3St
30 lonlnnio & XaahTlne I381; 1384 US'.
2 Manhattan El 1314 131 1314
3M May IVpt. Store 714 734 74
100 Ma- Dert. Store pfd 103 163
101 Mr. Jlir. i 15 19
200 Mexican Tetn'ma 73 714 714
600 Miami Con. Cop. 314 214 214
XO M.. K. 4. Tet 3 274 28
2.400 Miuvmri l-ariSe, 114 414 11"
1M National Biamit 173 121 121
100 Nat. En. & St 17 17 17
1.K0 Ner Con &v 1S4 154 '
100 New York Central 10S 108 1CS
100 N. T Pnct ifd 32 33 33
100 .V. Y.. X. II. A 11 LS US 13
10O N. V.. Ont. & W 32 33 33
300 Norfolk ti WeaUm. 1124 1124 11?
300 North American K SO (0
1600 NYrthern I'ariilc IBS 119 U
200 Pacific Tel 4 Tel 70S 3)4 29s!
I0O Parillc JIail -. 314 314 314
100 Pan Brewing pfd 1C74 107S I07S
703 I'enn. It. R :... 12T4 Hi 122-
100 Pitta. Coal 234 224 27'i
1.0CO Pitta. Coal td 8)4 ' !'
400 P. Lonl'ud Co IX 103 133
100 P. Lorillarrt pfd 1W4 1I4 116"
200 Prced Steel Car. 33 2J 23
103 Prcaed Steel Car. pfd 101 101 MI
3.4CO Raj Ccn. Con. ITi 194 19.
54.600 Readtos IH 1M4 l5i
500 RepaWic I. ri 24S 214 S4V
30 Republu: I. . S. rfd S3i eSS lTi
3.O00 Rock Island 23 22-i STi
3J Rock laland rfd. II 39 II
.430 Rtnnelr .'. t 4 &4
100 Rnmelr pfd i 9SS KS
693 Seaboard A. L 134 M U4
100 1-t. U i K. F. 16 16 16
100 St, L S. F. 14 pfd..... 534 -64 S4
100 St L. & 8. F 2d t& 264 26 24
4.900 aionthern racirlc 1064 10SS 106
900 (oothern Rr 274 34 274
100 Southern Rr. pfd 794 794 794
200 Standard Milling 374 X4 374
SO Standard Milling rfd if Wl IK
C00 Ttnnenee Copper 344' 344 314
10) Texas tc 14a flc 3)4 204 204
2D0 Tuaa Co 119 U
400 Third Ate. It. R. 364 384 3S4
200 Twin CUj U. T 107 107 107
4T4 Union Bar & Paper 7 (4 7
20.700 Union Padflc. larj, 139 1604
100 Union rariflc -.. 91 II 91
100 United Dry Gooda. 10O4 M04 1004
200 United Itr. Inr... .;........ 33 324 S
100 U. S. Exrma. S3 59 59
4.400 V. S. Rubber. 674 66 7
l.Sli U. S. Rubber 1st pfd..... 107 106 107
70.100 U. S. Steel 6S4 614 654
300 U. a Steel pfd. 110 KM 1004
3.23) Utah Copper 56 354 56
400 Va.ar. Cbem 384 384 3S4
200 Wabaah 34 34 SS
200 WeUa-Fargo x. 1174 1154 1154
800 Weatan 3Iar)land.. ......... 444 44 414
100 Weatern Union Tel 714 714 714
600 Wntinghousc Mfg 75 714 744
100 Werm-Bnit. pfd , 117 117 117
300 Woolworth 106 1C54 1054
Total aalea. 33VW2 shares, agaiaat .345JU jester.
day. 901.426 a week ago, and 367.600 a rear ago.
NEW YORK PRODUCE.
New Tat. Jan, C-JIILLFEEIvIsuadt: trade
Is dnlL Spring bran. 22.63: atandaid mlddllnca.
24.C0: Western red doc. 2475r winter wheat bran.
in IOC-lb. aacka, to arrltc., 3.10 dtjbrsD. In bulk.
tap. f - -
RYEStrong: offerings sDaall Western to arriTtt
is rained at agont-714 c. L t. tnckrand State. 79.
RYE FLOUR-Bu'Inraa is quiet; price are
strsdr: good to choice. 3.63a tCO, ra barrels.
BUCKWHEAT FLOUR-Stcadj: demand la lUe
leaa. Cliolce nominal at 21Sa235 for ICO Ihs.
CORXMEAL-Steadj: "inqnlrj moderate. Kiln
dried, new. for' export, 3.10a3.15; coaisa meal, in
bags. L23 for old and LIS for new. .
UAY-Rcnuvts. 761 tons; Xeadjf choce is aala
bla. No. 1 tlmothj, I.10al.l24; aUndaril. 1.05; No.
1. LOOalffflj- No. 3. 85aS0.
STItAW-Recripta. 30 tons-,ftnn; rupplj,la llgliL
Long ue. LC9. nata atraw is alow and -aloes doubt
ful, ronublj eoats. "
I-0nK-8Ua.hr: tWMncM U moderate. JIc-s, 19.00a
19.50: famlU. 2100a22.5.
BEEF Steady: supf41es are rmall and trado quick
racket, SOOaS.00; famUr. 2l.OOaS.00.
LARD Sleadjr moilerat buaineas., Prlmo We--em.
10.53; rrfinnl eontlncntV' lOSS; South American,
U.W; refined ItraaUian. la kegs tHO; beet ttrioc.
94; lard stearine Inactlrj ;. New York.- Mi
1 NEW ORLEANS COTTON. .
FtmrUhcd bj N. L. Carpmter "Ca . ,
' , "ipos-nt
Open.- nigh. Low. fill. Assed.-
Januarj 1132 n 1231 12J7JJ
llarrh.. ....... 13L25 12J1 1123 12J333
Jlay... . K.25 li3S 12- ' KJOCt
JulJ ti2t 11JJ lit! lt33S
October - ILO 1LH 1140 1HMT
ESTABLISHED OCTOBER 19, 1904
Canital; $750,000.00 , Surplus and Undivided Profits Over $500,000.00
. ' ResoarMS Over $7,000,000.00
The Bank That Does Things
With ample capital, large resources, and every
; possible banking facility, the Commercial National
Bank is always in position to do big .things but it
is not too big to lend a helping hand to the small
depositor, in good standing, when help is needed.'.
-Individuals, firms, and corporations desiring the
services of a strong, HELPFUL bank are invited
to open an account with this bank.
Ashton G. Qaphara President
Eldridge E. Jordan Vice Pres.
Tucker K. Sands Vice Pres)
Arthur Lee Vice Pres.
Frank E. Ghiselli Asst Cashier
Herbert V. Hunt Asst. Cashier
The Commercial National Bank
Cor. 14th and G. Streets
THE BANK OF PERSONAL SERVICE
WASHINGTON STOCK EXCHANGE.
Sales Rrcnlar call, 13 odor Boon:
Waahinsrton lUilaar & Hertrle eras.. 15 at M.
Waahlnatm IUilirai A Hortrie r4., S at n. S at
MersTnthalrr. 1 at S3.
Cnited States Trot. S at It", i at ltO. 10 at 1(1.
Mo Itcaltx " (lonrl. Jl.UO at KB. S1.00O at 103.
SI.CCO at 1ft. S1.0TO at K3. SL0CD at KB. CflO at 103,
Sl.tXU at Id. Sl.uCO at 103. 11.000 at YS, S1.O0O at 103.
110.000 at 103.
Washlnston rlas. 13 at fl4. 3 at H'iT
Washington lias V. S300 at 110-L
O. S. res. 3a. NO. 101H
D. 8. coura-n U. Wa 1M-
U. S. nx - IC3 VB
V. 8. coupon 3a. KCS l3-a
TJ. S. res. 4s...
V. 8. coupon la. 11W
Ceorsetown Oaa orrt. lnd. Sa...H...... 103
Geonretoan Oas 5s K3
WaJitcftoa Gm Ss. IKHi
Capital Traction Sa 110"a
Anacrttla & Potomac Ss 99
itr A Sabuxtan 5s. lCa
Colnmbla 5 1
OohimMa Ss 11
Metrrpolltan 5. IMS
Washlntton Railarar A Electric M'i
Wash., Alex. & Mt Vcmon 5a.
rotomac Klectrlc con. 5s 101
Potomac Electric Liiht Ss Wi
Chesarcate A Potomac Telephone 5e.... 101
American Tel. i Tel lt
l. C. Paper ittf. Ss SO
Washlnzton Market 5s, JSS IE
Wsahlnston Market 5s. 13r7 109
Waahinitcn Market Cold Storage Sa loo
NYrrfoIk A Washintton Steamboat 5... 10t"
Kla-rs Realtr ". Oonsl - IOC's
KiS Eraltr 5 (short) - 100
PUBLIC t-TILlTT STOCKi
Wathinston Railwajr h Electrio com... S5'j
arital Traction U2
Warhinjton Railway t Elertne rfd 5C'i
Norfolk It Wathlnstcn Steamboat. S1
Washlnjtoo Ca. St'4
Eastern Lifht.a: Fuel 115
American TeL tc Tel 133
TTPK MACHINE STOCKS.
Mereenthaler Linotjre. HI
Greece Cananea 8
NATIONAL BANK STOCKS.
Lincoln , 153
Seewd" 1V.""V.""I!1 158
National Bank of Waihinrton .... :
TRCKT COMPACT 8TOCK8
American Secnritj & Tm 309H
National Sarinrs k Trnst sy
Union Trost....... w 1
Washrccton Loan & Trust. S3
United States Trost. ..."S...'. Ill
SAVINGS BANK STOCKS.
Citizens , lHi
Bank of Commrrca and Marines........ 12H
East Washrortoc.r...... 15H
Finn LvsunANCB stocks.
Klremcn'a T..... 19
German Amrrlcaa ,.......... SO
National Union T
ColnmbU ............... .. trt
lteal rstatt, ...
O. C. Paper Mfg. Co...
CHICAGO GRAIN MARKET.
Frm-l-hed far W B. Hibba & Co.
WHEAT- Open. High. Low. Cloae.
Mar . S3H toi JWi S3
fnlT ...... SCS SOS SO-4
Mar - SIH !2S S1H DH
iW SS KH
WHOLESALE PRODUCE MARKET:
EGGS-Near-nr. fresh, Saa- Southern. n-1
CHEESE New York. ww.'rH lb.; flat. E.
BUTTER-Elgin print. S lb.: tab, X lb.: iro-
LIVE POULTKr-Hena. ItalS: roosters. MaKKi
lb.: turtrrs, lSal9; chickens, large, JTaXS; rnedlun,
DRESSED POULTRV-Tirrken. 3S lb: hens.
litis; ducks. 17: chickens, a.
GREEK FRUITS-Calitornla oraczra. 1-Ma
per box: lemona. SMi rsrr' box: ptneapplelt. lyr
crate, 3.70; Florida grapefralt. US per box; tange
rines, l.i5 per box: apple. 7.aa2.C bbL,
DRESSED MEATS-LIgtlt-weight pork. 10aU lb.:
VEaETABLES-PoUtora. 13 bua.: celerr. 37 m
dog.; Tama. 1.00a US per bbL; onion, K prr
uate; eabbsgr. 35 per .109 lb.; lettucr. l.tOaUO
baaket; becta, LsaLX per loo bunciies; equash 95
bU.; ssmrt rotatueaJ3 per bbl: lixru beans. UU
per Q.U; craaberrlca, UH.
Tames A. Cahill
Ashton G. Clapham
H. King Cornwell
H. Bradley Davidson
R. Golden Donaldson
T. Coleman du Pont
Wade H. Ellis
Charles J. Faulkner
Samuel J. Henry
BALTIMORE STOCK MARKET.
BALTIMORE CITV STOCKS.
Baltimore Cltr 5a. l-... Klli .. ..
Ilaltimore Citjr 4a, 1ZS 98 100
Baltimore Olr Is, 1X1 97
Baltimore Cltr 4s. BS 97
Baltimore Citj r. 1X3 3 .....
Baltimore Citr S-sa. 1X3. . M .....
luitimnre ntr JHs, 136. y; .....
Baltimore Otr JHs. . Wi ...
lUIUroorc Citr 3ria. 1H5 S3 .....
Cons. Gas E. U. A P. Ilia. t3i 70
Oona. Gsa E. L. t P. notes ". 100
Cons. Gas E. L. . V. com 1U 111"i
Cons. Gu E. L. & P. pfd US 1US
Farm k Mer. Nat. Bank. 41 50
Maryland National Bank. ................. 7Z .....
National Bark of Baltimore....... 14
National Bank of Comrnerre 21U .....
National Exchange Bank... ..... 153 1
Col & Green lat . 1B; 1NH
Florida Southern 4a. ?0 SCH
Oa. ti Ala. Cona Ss. lW"i 1354
New Or.. Mobile S. Chicago 5s. tCi ST
Seaboard Air U Rr. U S5i
Seaobard Air Line (stamped!. S6
Seaboard Adjustment 5a 7Cs -
Atlantic Coast line Rights (W. I.) 1.
Atlantic Coast Line of Ct. XS
Seaboard Air Line com 15S
tnitcd Brs. A. Hec Co SS
STREET RAILWAY BONDS.
tltimore Traction 1st 5s IC61.
Chaa. Cltr Rr 1st. Ss .... M3i lot
Citr i Suburban 1st Ss 1034
Fairmont & Clarks Traa 5s 101 101H
Manland Electric 5s ... 97H 7
PortUnd Bf 1st Ref. 5s. :. 101H i
United Rrs. A Kler. 1st Is. Sl"-i S3
United Bra. Il Elec. inc. 4s. ..."?, E?i
Wash., Balux A Annaiolis Ss !7i 8
American Bonding Co. S3 .....
Baltimore Trost Co 160
Ktdelitr Trust Co - SS
Mariland Trust Co ID UHi
Mercantile Trust Co 153s;
Mnnsey Trust IW. I.) 101 1(C
Unxn Trust Co t7
Baltimoan Electric pfd...A H.M 47
Baltimore Electric 5s .- JJ 110
Canton Co... 135 .....
Cotton Duck Ss. . JPi 7J
O. B. 8. Brewing com J14
Houston Oil com. tr. ctis...H. ........... ..... S7i
Houston Oil dir. rtfs .?....... Mi S
Int. tc Gt. Ncrtb. HUg. Corp. CS 70
Penna. Water Pcwrr crxn. ........... cos 71
Penna. Water A Ioer 5a................ S7S" 33t,
United Elec 1st Cons.' i'tt... ............. SC4 S3S
Cons. Coal Co. 103
Cons. Coal Ref. 4Hs SIH SH
Cons. Coal Bef. 5s 33 an
BOSTON COPPER STOCKS.
Adventure 4H 5
Bohemia ;.. Ti 3
Calumet k Ariaoua............;. o fi
Calumet A. Hecks 500 505
Copper Range. ................ 47 0
East Butte 13 ITj
Franklin 74 7
Indiana ............................,... IS 15's
Ike .................................... zfi
La Salle. ...........:. 44
Msson Vaney.. S
JlajUowrr ................................... 11H
Mergenthaler .......-;....,;. 374
Michigan ........'....... Hi
Mohawk . ......i. 54
North Bult.......:. 304
North Lake. 7S
Old Colour. ........J'..... Vi
Old Dominion....... .. 414
Oneoo ..... IS
Osceola ,.......... 96
Qniner ........... 73
Shannon .................... 114
South Lake.......v....;....... t4l
Swift . : KS .
Cnited Fruit ".
CUh Consolidated. ........... W
New York. Jan.
-Closuig quotations of inls-
-New Ycrk Central 4U, 1960..........-.
Adams Ernnt a .rA.
rXmerlcan Telephone and Telegrsph 4s....
a x. s. F. general 4s .........
Ilaltimore and Ohio gold 4 ...
Bethktea Sleet 1st 5d ..............
Brooklm Ranid Tranait Is ............
C. B. Q. Joint 4s ..
Chicago. Milwaukee k St. Paul 44s.
u, H. I. 4 p rfg.. Is..............
C It, I. P. rolisU ,
UietiL S. Corp. Ss..
u.. 11. as w. KK B. ..........
InterboTD-Met, 44s...-. ......
Int, M. Mar. 44s... . ..
X. T N. II. k H. crt. ta.
New York Eallwajs adj. Ss........
Reading general .......
St. L. k a Y. tfg. 4
Seabcard Air Line... .......
Southern Padflc rfg. I. 3S4
Boutiem Railway 4s... 754
Union PacWc 1st. 4a............. ...
Wabuh rfg. 4s ,.
Western Manland 4s. ... ... S34
wratlnglwuM Mfg. St..- -
Total sales. ILSIiCCO. agaht CCtT.Cfrj TRterday.
11 JCCCa week ago, and SS1X.KC a jnr sgn.
WANT ADS BRING RESULTS
Eldridge E. Jordan
Arthur E. Randle
Hollis Rinehart .
Tucker K. Sands
O. G. Staples
John P. Story, Jr.
Geo. Tully Vaughan
The Safest Investments
An those that do not Srjctsat dming ds
tm-bed conditions of th moner or stock ma.
ktts. First deed of trust notes (9rst -sort-gages),
well secured on real estate In tna Dis
trict of Cojmnra. constitute "gUt-edg lo
veatmenta, Tbcj do pot depend upon tha
financial resrcnslbUttr of Induktnals or eor
poratlona for their stabditr, and are exemrt
from taxation as personal propcrtr. Wa can
anppl sndi tnrestment in amount from S5M
spward. Send for booklet, "Conotl-Jzg Lout
Swartzell, Rheem G
737 IStk Street XortkirraL.
Toronto. OnL. Jan. S. Closing price on Cob.lt
Beaser Consolidated ... .w 13
Bailey .cas. to
Ilnffalo ico iJO
Chambers Krrland ...................... JSU JHs
Cltr of Cobalt. . JS', -9
Cobalt Lake w. i-i
Coniagas ten j.m
Crcwn Resrrse .......................... 35 3 00
Fester . 09. .I0.
Great Northern .OPa
HargraTes ............................ .07.
Jvetv Lske iis
La Rose 68
MeKinler Dar. SaT.............. LSS
W.tt .II 10.K M.17
NEW YORK COFFEE.
Psmlahcd tj .V. L. Carprctcr & Co.
EAPS AEDEICH PLAN.
iViK-on'ln nanker Opposes Prajret
to Sell Aotesi.
A statement to the effect that the
American Bankers' Association at the
-neetlns held In New Orleans two years
ago "iteimrolled through" a resolution
Indorsinc the Aldrich banking; and cur
rency plan, was made to the Glass sub
committee yesterday by Andrew Jay
Frame, president of the Waukesha (Wis.)
National Bank. Mr, Frame expressed the
cplnion that only a, handful of the bank
ers present at the New Orleans mretlnff
were familiar with the features of tho
Aid rich plan. Representative Glass of
Virginia, chairman of the subcommittee,
asked Mr. -Frame If the. Bankers Asso
ciation bad 'approved the Aldrich plan
at .the meeting held recently In Detroit.
Rcplying-in the negative Mr. Frame said
that no effort was made to secure an In
dorsement of the Aldrich plan at Detroit
because It would have been defeated.
Discussing; the Aldrich plan Mr. Frame
said there were hundreds of bankes In
the Wesjt who were utterly opposed to
the provision authorizing banks to ac
cent notes, such notes, to be Interchanged
or, sold' at the 'discretion of the holders.
latrrewt lis 'RevlTstl "Set-rice?.
Much, interest Is being manifested In
'i"!!! Ssithe reVv.a sv-erf In pipgress at Rhode
Island Avenue Methodist.. Protestant
Church. First Street and Rhode Island
Avenue Northwest, under the direction
of Rev. Alexander B. Davidson, of Louis
ville, Ky. An Important feature each
night Is a- tins service led by the evan-
cellst. assisted, by a chorus of trained
voices. The results thus far are. most
gratifying to .the pastor, V. T. Benson,-
and to tbe congregation.
Graves to Br Toastmstster.
Announcement was made yesterday tint
John Temple Graves will net as toat
master at the University. Club banquet
at tbe Wlll-irtl February S. Among the
speakers will be President TaXt (UMt CaL
Georso llarTaja ' '