Newspaper Page Text
ffHPfSSBSSSNigwwaJ1 '')" ! lf"j4jftifiiijiiir
THE WASHINGTON HERALD. SATURDAY, FEBRUARY 1, 1913.
14
MARKETS -FINANCE-COMMERCE
IN NET KOI
For 1912 Washington Rail-
way Shows $341,937
Surplus.
APPROVED BY AUDIT CO.
Some Interesting Companions Local
Stocks Wall Street Market
Gossip of Day.
Hj I . JLL11IM.
The annual report of the 'Washington
Railway and 1 lectric Cimpany for the
calendar ear l'lr should be a Miurce ol
sratitication to every shareholder
It Kies most emphatic refutation to
the reports thit the companj had not
tamed Its dHIdends on common and pre
ferred stock
It shows an lncreas of 17i.Srur in net
inrome after fixed charses operating ex
pontes and taxe a gross increa--e fro-n
oik rating revenue of Sill SOS 59 over the
1911 figures and a net "surplus after ol er
atins expenses and 4 per cent on the
common and per cent on the preferred
of $34, JS-jj.
The direct ch irtre was made in develop
tneiits connected with opposition to the
a--hii!,,ton I tilities C ompan that the
ssashinKton Railuac and Hectnc Com
I anj lad not earned dividends hut had
laid them with Intent to Inflate the
c-il le of Its toik
The charc s tion look foolish In the
f e ;f tilt innu ll rej ort
The melt Into thin air on the thor uch
ull approwtl cf tin following statement
lie the meri-Hii udlt Compani of New
ork undir the sreat seal if the cur
INj ration
Aloi-orr th Washington ICiiln-o tm
I an without the I otomic 1 lectric Com
i v as -tance contributed oviruOper
nt r $I ooo to the $311 SO oj gross
I In a hinston Uillna mri I lectnc
mp i c distributed S1J 13 to employes In
prolit Miaring plan it wrote off $65 -
oofl in depreci itlon of equipment dis
mantl -1 other equipment $2." abandoned
tret ltghtii g equipment alued at SK
11 IS put SSI CO to sinking fund iniuire
n nt an! u carious wns di trlhuted
1S,K1 of the $311 ST j ear's net urpltis
alter duiUndv
t the do i of the ear the net surplus
count of the corporation tood at
SI CtoiatS
The full report of the corporation ind
t subsidiarc companies follows
Inrome -roiint for 1D1.J
summarx of the results from the
oi "ration r all companies atter exclud
ins all off setting tnnsaction"" is as fol
low
i- income SlCtl.in WWW
1 n rirrjrs. taiti
J ins Ulrs. ii3 23 83 IHtlDM
m. i ui v a'i surow
iiarjt-. i io r is i- or SI
DIM ITION Hi stllll-
Mi r profiling for !led iharg
l n me was -ipplied is follons
1 n M on imminent
THi n.t t
I si f i dt dcod iwi i re-
r. I -k Its cm 03
I m t ft d uJrnl n cum
a k jtCttXO)
II n urn trt nliK-turs a x!
mott-rmei un Irr (rolit sl inn.
Jon $19130-
I irrciali lp piimn nt
a a s foT SJ
1 in al o itii hIoiw! uac-Ls lCttbS
t ar" d T a -count len Lcl o
1 i k 1 (01 00
Vlii 1 Tlirte-nUi and I
- t ar louw 2jI341
Ins ( d requirement-! o-
ma Llevtic I oner company 1 0010
tn aban lonmcnt of
trcet lcltiDg iuipment I o
t .mac I tnc I ocr Companj K Ell IS
on 1 cr rq rancnt sold or
1 -infill cd lunru th ear I o
ia El etne I wcr Ccunrwnj iST 13
rrd i -d tn m ft and le S13.E1: H
Vfl
losing the accounts for the jear
t t protit and loss surplus of the Wash
gton Hailwax an I I-lectric Company
n J inuarv 1 H15 is $1 "32K u
ronipnrlitoiin
I r e hts i tn -o much ai,unirt l r
nl jii thai "ompari m 3t tins tint
om ii t he out of place
The men ise in the pro s opentlng
iiinra of tnc Washington Pailway tnl
leit i Compan f r 3911 was 311SOa3
is compared with PJT increase for the
( itital Tra tun. Compan
riiL Washii ton Rallwaj nn I We-trl-Cunpans
charged off fr miintcnancc o
track oquipm nl fc. in 131 $12) Kr" th"
apital Traction Compapy tU C3
The net Income of the Washtnstoi
raila inl Electric Crmpan afte"
1 xcil charges. He was SI (C5,"30 of the
capital Traction Companj $7 "6" 123
The surplus of tic Washing on Tail
r.a and Electric Compan ifter pajfng
JrciVH m dlIdnds for 1912 was Kll
13" nu tin re was distributed of this in
-various was chirging off &c as shown
in elatenunt $33.1:551 lean, a net In
reisc bunltis I i lli S1ISSU1I
which added to surpl is or hand t,a-
the net surplus of the fompanj, at tin.
close of 1912 as SlOTolCOo.
The Cipital Traction Coiipai after
pacing S 0ufl0 dividcn Is had a st-rplua
of $r IS 73 surrlus a the bcqinnln Df
the jetir SMIIbSfi, making nt surp lis
tf SII.-T.Lj from which etas deditctci
US 6"XjC. leuvii g a net sur, lus at th
tins of the car of $""3,S9 13
Capital Traction MntlMIca
The pamphlet report of the Capital
Traction Companj is at hand from
which much interesting Information maj
be deducted
The companj operated SSSG miles of
Mngle track during the jear The total
car mileage of all cltj lines Is 7 413 000
There was an increase of $63,000 in fixed
charges, due to Interest on bonds Issued
in December 1911
One hundred and fftj paj within cars
ordered in 1910 hae been put in opera
tlon The sum of Sgo.000 was charged
off and credited to depreciation reserve
Injuries and damages cost the com
pany the large sum of $"3.C0 but was
less than In 1911
It cost Sla3.1S9 for power $6,443 for ad
tertislng JI156S for conducting tnnspor
tat Ion and $33l.5& for operation of cars
salaries and miscellaneous Items totaled
S100.94S taxes $113.93$ Interest $2S1.000.
The equipment Is now 711 car" motors
He of which fourtten ire obsolete
Tho croup of cars known as the Jay
Yard division including P and G New
Jerscj and Florida Avenues, and George
town and ISavy Yard lines made the
greatest mileage by 00,000 miles
Good bujlrig of local securities con
tlnues. Jloncj Is plentiful at 5 to 6 per
cent, and the Investment of dividends
and Interest pajable to-morrow continues
unabated
Washington Gas moved up by fractions
to $4HaS4i meaning about S6 with dli
dtnd on .Checks for $16,000 reach Gas
shareholders to-dayr which will. In a
measure compensate for the missing
Georgetown distribution
There were many orders for Itailwaj
preferred at 90 and the common at S6,
a number of sales being made at the lat
ter hgurc.
I anston was slow at S
District National Bank sold at 117,
Union Trust at 13", and American Se
curity al 31a.
Woll Street
Wall fetreet markets were falrlj good
during the greater part of the session
on Friday, but there were few changes
In the list, although Union Pacific held
-Lout a point gain. The flurrj in Can
shares ended with declines of about two
points and the street Is now looking
for operations bj Dan Reld elsewhere
among the favorites of Reld and the
lloores Reading held its own. Colorado
Fuel was one of the strong stocks of the
day
The sales for the daj were 430 000
sliarcs, monej closed at 27 8
The short Interest showed an lncllna
t on to press for the advantage again
I tllltlrn' Minrrliuldrni
borne of the large shareholders in the
Washington I tilities Companj, and the
number of shares thej hold are as fol
liws Milton K. Alles Washington 3,000
II Hibbs & Co Washington b.sss,
Oscar T Crosbj Wilmington Del l-iiO
s U Chapln S. Co New lork 1)
1 astern Light and I uel Companj 1 000
Mrs Suzanne I mmons. Washington
inno Norman Grej amden N J 2,39
I- Ham 1 Oi.J Charles J Hell m
t I trence King 1 40 S R Kirk
Patrick . Co 1 2i C t Norment 1 000
John la. New bold 10 Charles V
raiding 1 no William Salomon . (o
Niw .ork J.") Senator Mmon Gug
enhefui ) Hulclur A. Sherwood I hll
jilrlphla 3,000 Redmond t Co New
lork 1000 William Locb & Co New
ork in) 1 rtderick II Treat Wajnc
la 2,'W and John I- Uelking Wash
i gton 1 000
-Mlncrllniirouft
The Western Marvlind Railroad his
1 urehased aliout ninitv acres of land at
I-crt tovlngton idjoinlng the Baltimore
Terminal f r uie in developing the ter
minal It is understood the price was
about SI 0 0"1
There Is i chance that a sliding scale
maj 1m adopted c n gas and electricity
in Baltimore
WEEKLY BANK CLEARINGS
Vtr lork Jan 31,-Ilank cloar ns in Uie Lnitcd
Matm for the ea eudtl January 50 ccrT3t
It.JTOOfO jan U)te8M0 lirt urtk and
C167.X5KI0 in thU erk last jrar Following are
tl c rrturn for tl ts irrck with percrntajr of
chanse from thi week lact year
Jaiuar 0 Increase
W sniCTON MJcoiii) .43
New ork DN13M 1 "
eTiicaco zr.tiiono o
Isl n IB 107 On M-.5
I biladclpl la 1(8 366 000 12.7
st I.OU c in roo l T
kin as Cltj ij SOW
Pitt ten J 301 tro " "
san Francisca S 0 3 S
Italtimore U.01I Vtl 5
nnnnati r To W 13 3
Minneaiolw 3 13ki0 "M
N -w Orleans SD.S33 000 "5
( leietai d -I CI OM fl
Ilctrolt "I eio 000 il
l. Vnjrlea 31 llffl 3
Omaha 1C r ono 9 6
M !ukee lj 155 00 111
Urn Tllle lSinOnO U 1
VtlanU II tCl I C
rctlland One JOoloD 1
Seattle I0oJ(r S S
St I a I 1 0X "00 6 1
I fTalo lOfHRll 1j3
V i ter 3 101 tftl I
I ij anainlc, 1X3 00 II
I r rtllence T 0m
Urhmoyl f30f) 12 1
NEW YORK CURB STOCKS
ivi - mcn -sn Oil
I ntlHi
Itnlfc-1 mmcio Toba vo
TiK-aco Sul wr
r x Lotjfsol dated
lloUi ger
iDtenvntincntal Rubber
La Itor Ccmsol datt?d
L. Co&I Mlts Co
Maton alley
Manlutlan Trannt
Marrcoi i rw
Marconi Canadian
Nillsuais Mint?
"Undani O I fi-toib
Yukon C Ad
Lnitcd CUar Stxre
Un Ud Cicar Stores d
JJONU3
Adamfi laiprrs 4s
Dradcn ts
linden "
II 1 T 5 notes
Tiica"0 i IfTatod m
Montrral Trai -ay
1 acitlc a A 3 -etne
Wrlmi I arific it.
1 1 16 1 3-16
NEW YORK MONEY.
New Tork Jan 31 Call monrr crowd " p-r
rent I cl 3 low 2 1 rtnewals " clow, t nil
ice rate, IP.
Tunc maucy market is snmewlut firmer in tone,
bt t biLini-as is very dull There u sot a bciiy in
qi try for funds.
rtatf are - per cent for Nxty days, 3a( for
Dinrtr d3 4W for four months, and 4at t for fitc
and ui moitlis.
Commercial paper remaini uncbanscd at 4Hi5 per
cent for the beat names. London discounts i i?r
cent unchanged Pan discounts, 3m per cent un
changed Berlin dicount i per cent off per
cert
OUTSIDE SECURITY NOTES
. ik Ji 1 The Had r; n ttv not H
- hit. LurVe tiMlar t ui) la!rl arttv atvl
iirrtular T p ioI iroc ff deal nss was Mnall Lmt I
icar Maira sn1d rx d tMknd to-!ay nearly all of
which n coiemL Standard O I of New JciNey
was quite caV on tlie decuion alTectinc Standard
Oil wic line- which wire pit down as
carriers JIcUI thare-i were qu et ard irrcsular
NEW YORK COTTON
furnished by W B. Hibbs & Cn.
Orert, H fh. Ijit Clraf
113S Ii"' K.3 13
na us mo in
1131 113 110 1107
1L50 11.5: ll.C 11 13
March
Mar
July
October
FINANCIAL.
The Safest Investments
Are thou that do not Soctuata dinint Cla.
tcrbed coBdltloos of tbe tnocej or stock mar
ket. Flnt deeJ of trust notea (first inert
Sires) well secured on real estate in the Dis
trict of Columbia, constitute "tilt-edsr" ia
vesUnents. Tbey do sot depesd upon tha
flnandal responsibility of icdiridualj or cor
pcnUcus for tbeir stability and ar exempt
(rem taxation as personal property We caa
tupplj such investments in amounts from JSB$
cpvsrd. Bcod for booklet. Concerclm Loau
and InrestzarBta.
Swartzell, Rheem &
Hensey Co..
7ST 15th Street NorttaireaU
WALL STREET GOSSIP
llorgun Interests arc reported drltlns
tn the shorts outstandlne In Steel. The
shortage Is said to have covered to the
extent of 50 per cent onl
Forelffn buying- of Copper Is referred
to by some of the floor specialists tn Cop
per shares.
A pool Is said to have accumulated a
large line of Un!n Pacific. TVe find evl
dence of a ery friendly sentiment to this
stock In the right quarters.
Attention Is being called by big coinmls
slon houses to "the good transportation
neather and the Increases In railroad
earnings reported and llkelj to come.
It Is rumored In floor trading circles
that Northern Pacific and Great North
ern -nlll be found at much higher levels
in the next thirty dajs
The Increasing issuance cf convertible
bonds Is reported to be In response to a
strong demand for that class of securities
among Investors here and abroad
The Rock Island party is reported to
be interested in the bull side of Read
ing and Iehlgh allej
There U still a large uncovered short
Interes which is undoubtedl) getting
nervous. Whether enough buving will de
velop to force further hcav short cover
Ing or not is a question but It looks as
If such might easll) be the case General
conditions have not changed and there
Is every evidence that we are still In a
bear market but wc might easily get a
more vigorous rallj than anv that wc
have vet had. since prices began to de
cllne In October
l"lic direilors of th n ctlcin (an
Comrrmv jeaterday ititliorized an Is
Mic f JIj.ODOO.0 flffen year j per cert
oll dibe-t" bonds rc-deimablc it
l'ili ind 'merest an I blnk ng funl
if JjvHO jniuallv Fourteep mllllontl 1
1 irs of the dco nturea have teen -oil
' the cjiurantee Tr js Ccmpnii) of Sew
j ork ini lee IltgUnsnn e Co of
ISoslun It is pre&um d the isiuc is in
(onnecticn vlth lh" lljustircrt of ircu
imUtcd divldens f :t per cent on tli
prefer! di stock
The reported lan for financing Kick
dividends of the Can puts the common
stock in line for a dividend at once Il
Itsulng the J13.(X0U0 of bonds the fixed
charges will In Increased JoTiOfOO a vear
rven with this Increase of fixed charges
the company would have out ot Utr earn
ings nearly 10 per cent on the common
V declaration of 4 per cent would be
ultra conservative
The Republic Iron and Steel Company
declared regulir quarterl dividend of
ISt per cent on Its preferred stock
At a meeting of the directors of the
Southern Pacific held esterday the
resignation of illiam Rockefeller as a
director and a member of the executive
committee was accepted The v-icancv
caused lij his resignation has not as set
been tilled
dvancc in I igset & Mvers die to In
creased earnings I n lerstood net for
last vcar In exces of 2 per cent on com
iron Directors meet soon
New iork Central lints for December
total all lines operating revenue Increase
$3 lv 3u Operating income, increase 15
111
Shotwcll Now that th merican in
movement his De-en justined t nevelop
ment traders will n iturall look for
activitv tn the other Held Mocks l-rlusl
valley and Kock Inland arc both selling
at low prices and arc worthj of atttn
turn
The bill for phjsical v ilu uion of rill
rods Is likelv to be favorablv rep rtcI
bv tl e Semte committee
The reported movements of curreno
this week lndicite a gain In cash bv the
lanks of JXmooOO
II Charin & Co While the market
showed a geat deal of Irregularity in
the trading jesterdaj there was a ,ood
undertone manifested when the bear ele
ment assumed a more aggressive posi
tion In resisting the recent advancing
tendencj The fluctuations were of suci
a backing and tilling character and trad
Ins was so large at times In such leading
stocks as Steel Union Pacific and Read
ing It was very difficult for even the
closest observers in the board to follow
it but ever time there was an appear
ance of fresh pressure in the effort to
break prices the support encountered was
too strong for the success of the move
men
In this waj the market was closed firm
at about Thursda) s final quotations for
all the active railroad and industrial
stocki Lnion Pacific was one of the
stro igest features Tjid closed a point
Mgher on the progress that Is being
mtde toward finding a satisfactory basis
for the dissolution of Its merger with
the Southern Piclfic
W ilh this m-itter satlsfactonlj -idjusted
a great weight of uncertaintv will be
removed from the market so it will be
in i much better position to respond to
anv new developments of a favorable
character
COTTON STATISTICS.
rumlahed bj L Carpenter & Co.
New lork Jan. 3L,
Ilea pts. Middliejj.
It Xnlcr
day year Tadaj dajr
e lork n jo. Ilia
New Orleana S- J,r. 15-18 12-15
Galeeatoo I,CT 11060 1-S 1"N
Mobile fcl l.ot5 s I" 5-16
isaTumih 3) SOU I-J, l-J,
Charleston S3 "81 fa 14
V ilmrnston 193 I li
Nnrfoll CI -O0 1- I,j
llalti-norc I l i ij
V arioii. -J (TO IS 1 S
Total
57 ! 51 191
ivti num..
Hon tew S IjO 111J0 He, u.
"S1 ' 631 0a 1.13-4 1U-1
Memnhis ?..A. ? tM I . i..
t Ixrt is 3 J 3 633 rc, l-3.
1 lllc Itoei r 665 I"2 1515
NEW YORK PRODUCE
New lork. Jan I VI I LI O EI) VVialer ir-le
w alow "jisSnl bran 53.25 rtudant middl n.i
23.25 Western red dog 5S.5 winter wlieat in ICO
Ib. aek to irrire 25.10 eity bran in Inilk 51C0
Itl Quiet offerings I si t. Western ti arrie
ii valued at about "2" c L, t traci a I btate
at 5
Rlf miOP Dealin.s mMerate 4tee are
lea Jy (rfmd to eboice 3 60al 00 in barrels.
BLCJvVVHr..r nX)LR-.teac!i lnqmrj- icartire
Clioiee ncminal at 5..-ia?35 for 1.0 lbs.
CIItNMl.L Stead) demand moueratc Kiln
dned new for tlmrt. UCailj oar-e meal In
ba2 1 20 for old and L12al 16 for new
Ha Reeelnts 83 teni eady demand inaetlfe
Na 1 tlmolhj 105 standard 103 No 2. S-aS
No. 3 "U80
STEAW ltecelpti none stead; rnprJj is litlit
Low rje. LOO Oats Mnw Is dull aid talue doubt
fol. possibly KUEi
PORK Steady tntnsa-tions moderate Mcs 100
aJO.J family 22.00a50.
It LIJ-Steady supplies are I (I t and trade, quiet,
lackex. 2ZtCa22.C3 famjy 2103a23.(&
LAPD Weaker mederata ckalines I'rune West
em 10 55 refined continent 1(L85 rVntb Amertean
1L55 refined BrazLUsn in ktss, 15.25 beef etearlne.
t lard stranne InaetlTe New York, 154.
V wireless tower that Is expected to
give a C.00-mlIe operation radius Is be
ing built in German) to a height of
917 feet
NEW YORK STOCK MARKET.
New Tork Jan. 31.
bales. HuA. Low Oosa
20,300 Am!. Copper t -J 73
TOO Am Ilett 8air 3 ZTA 37a
MfJOO Am Can. 46's It3 43
130 Am. Can pfd 159 lil 126
SO Am Car It J-dry 54 fi M
0 Am Cotton Oil S2 52 55
103 Am. Hide & Leather 4 iU IU
100 Am. Ulda i. U ri 3 3 3
00 Am Ire becunties 51 Z3 l
103 Am. Unseed llVs Il'i 11H
100 Am. Unseed pfd 31Vi 31Vi SJVi
TO Am. Locomotire tl'. UTs IIS
2.600 Am. Smeltlre IIS -jc, Jl
100 Vm steel Idry . 3 X X
200 Am. Suir . 11! 11- m
100 Am. Susir pfd 11CH H6'4 1I i
2.S03 Am. TeL & Tel 1J5S 131S 135
U m Tobacco 5Kt 5S3 2S3
"00 Anaconda .. 38S 38 38
100 Assets Ileal Co 116 lit 1I
2.100 llehlaon 101 103 103S
100 Vtlsntlc Coast Uoe 131 DI 131
400 Ilaltlmore A. Ohio .. ICC. 1C5S 102S
)n lUltlnHrr k Ohio nfd (I i 81 4 81 s
100 Ualoialu Mln , U U IV
JW Ilellilel em Sieel 33 3 3
500 IlethleLem hleel tfi 68S 66 684
ja n i (.onririefa 63S a a
ltOJ llmukljn Han. Transit SIS II Si's
t.Sa 1st. Petroleum 35 5IS 5t
1 009 Canadian I aeifle ""(IS 2I0S HI
203 C enlral leather 2S a 26,4 2SCj
100 Central leather rfd SIS SI 91
10M Cliesaicake i Ohio "8S 8S -SS
100 Clleairi) ( t Western MH KS 1S
100 Chleagi. Ot Western lifd 3P. . 32S
12M OH, Jr gt P , jj ,
W) Clie & V W I3S ir IS
SOO Chino Con Cenirr VM CS r"s
5 300 Col lcl . Iron 31 S rs
JIJ coi & sjoutu
509 (oiuol I as
2100 orn rrodurta
I3S 13 13
too om Pmd wu Kd f "9 !S "S
10) IVuTer . R. , id 3$ s Jfi Jt t
1CS IWtroit t riled It R "9 a "9S V
100 DMUrrs Srcuritirt lis IS -i lSVi
2.ST0 brie 32 JN IS
m tjie lt i"d , IS1, H s
2 en Hretrle Motor ( a C IC 11
2M I sieral Motors -t s Ml l i
to eneral IN n (J "9 - 7S .
SO l real Norll l ur, !3 I2f i
ljfo l ieat Northern Ore sub 49 . 39 W
1J0J ( usenl e m "cJ SO . J Jl
100 Illinois Critral ls I 12e s
100 Irn .pir - !(, Ir,
10 Intrrbom M tmJ tan 19t ! ! s
9 lntrrhnr.Mrtne I HS fl SI
1 a Int llarief er ipS 111 a IMS
01 Int llaneer II' , Ila lu s
1JC0 InL-4ST s l-S l"a r"s
1C9 Int Pi mi IS, I3S 1 J .
ino loa ( rntral rifd 113
H J Kair.r S3 -, 9
W) Knsce lo -9 a "9 3
300 LarVaanna Metl K i K
10J09 lalj Valley IC3 , I61S 1 3
SCO Ijot A Vljers 231 223 231
CO low W V 3 3SS 3H,
T luy-Wllr. 11 111 11)14 101 4 101.
I OX) Ii. I.nllr A. NuJ.ill, U, 139, 13
101 VIer Mar i, I , I,
Pno Vlfkan lVtn leiin I "" "I
T0 Muml m n 3 2P. 3S
li Mm A s.t. I l 'IS 5IS
Ml SI 1 I A ! VI 111, ill, no,
I JOT Mi.v ri I .elfe r" II . 4
ico Nat m-n it i ii n m
3D) Nat Ij A I-1 1 , I , IS ,
KO Naticnal Lead J J i.
3 901 Net Con. I op II II , e ,
313 Ne eik Let tral IOS K , ICJS
100 N i N II & II 134 12) , I234
1H0 N T Ort S. W 31S 31S 3IS
100 N T Sate II)s K Sn , -
21 Norfolk Western 111 1W lh
10 N itu American 81 804 SO i
800 Northern I snne IJ lWs ID1,
IM Par Te" t. Tel 10 . 39 33S
2.IO I enn II I 13 ItT, 1JJ",
SO 1 xJe I V C 1I lit 116
100 Iritllone Itl 1- ., sr 9i
4 CO I ttstuis ( cat 2IS 3 34
CCO rtUlsjrc lul 1 "-, 9-s. s-,
Ml I Lonltail ti 1U. II . 11 ,
liO 1- II lal Cir 14- 1 162
109 Q kkslier 1'fJ I'- 1 . I 3
im I steel sjirine 32S 32 s
liO II "letl Sten. fd n. T. 99,
1 m Itaj Con n l", 19 1 1S
43 lim ReaJ nc !, l'-l , 163
11 I eatnr 31 if I 9
4&Q It tibl e IA- 3 254 -S
1 01 IUi MM t S N "9 f-, 8 .
Sea Uk Wand IS JJ. 2i-
2.0 Kock I land pt I 111 Wl fi
no eaSu d I !d I S 4 . f.
im M Ixnds A - 1 I r 17
1 M bsbts I 3II ' 1 .2 1 27
M) - ar. I bnek "VTi V JC t
20-ra-satlrnlslSe 109 ll, V-,
Vn vsitlieTI Itr SS S j .
m standard Vlllllii; , J H
30 standard VI II nc 1'! f(S K j ,
1O0 T nness toner 34 I
3) Tevas A I acifie 3TJ, JW, 2,
K) Teas im.au 131, li ,
f-0 Tlird V ne I r T?S T) 3
CT Tsln Cltj IT 1 fs 0
r t okk 1. A Parer iH a ,11
Klfl In.cn I aotlr If IS 1.5. IOS
30 I nion I acifie pfd s
200 1 nion Irrr I oods " II
10) I s f 1 I a I 1GS 1S I
10 i s 1 1 ,v i r.m , e a .
CO I s Itnblcr fi U, tin
KO I S It Her 1 I'd Is" j IT , ItT ,
OM I s stel 6n 6IS 05
xo t s stPfi , nos no's H)4
M I tall Cornier -i 51 a jI
'CO V irciria aro. Cbem 2n, 3IS
100 IrjlnU ISm Cliem. jfd 110 110 110
ll Het Manland lfd 631! C3, 63-,
2,-CO W einslK use Vlte IS , " a
jB3 VN rolworth 101 , ITS 101 a
303 Wbeelinc A L. E 4 a 4
0) Whiclinic HUT WrH S "" -
Total sales 4 w 6& ahres acaunst G4 616 )eiter
day 238 90" a week a.3 and 539 je a )ear ak?
MISCELLANEOUS BONDS
New 2 ork Jan I Cloning flotations of
cellaneous bonds
V unnU dfd Ca Ilron lirps. A Co. etfs
t try of Tok)
New lork Central 4Us. 195"
New 101k Cenlrsl 44s IsaO
Vm A. Chem.
Vm T IT nl 4c-s when issued
V T A. " s pil 4s
T A I S nt ll 1916
Atlantli- oat I e 4
Bait mere A O 10 1 Un
r-altim-rr A Ol sol 1 4
Baltimore & Ohio est 4- l en issueil
Brooklm Rapll Tranit 4-
Central leather
Certral 1 arifle I t 4s
Chetapeale Ac Oi lo &nl IS
C It A Q loint 4.
C I- I A I rfz 4s
C I I A P col s
4 A so 1st 4
Corn I mducts 5s. 1931
Cen. Elec. deb temporary rettrys full pi
Ind ana Steel ja
Insp Con. Cop. 6s tcmoprary recpu 2d I1
Interhoro-Metropolitsn P-s
Interboro r T go! 1 5
La 4edo eas of St I- 1st 5s
Lontlird Co 5s ..
Missouri Pacific ert, 5s
N 1 S II A. II nt "4s. 19V
New Tcrk Itailwarn adj. 5s
Norfolk Southern .
Norfclk A Western ts
Norf tlk V. W -ttn eon Is
Nor! Jk A Wc tein d r Is
0 eai n short LI ic rfs Is
1 -n eon Is. I'M!
I e n 3i ISIS
lNiblic rsTTire cf New Jeney y
Readme cnl l
st i 1 vt a s rfe 4
Seaboanl r I i ir nil. js. e interest
seanunl Mr Une rfz Is
Sealsiard Mr Une 4s ,
Seshcard Mr Une I stamped
So Pell TAT ,
Southern Pseine crt 4s
soutlie-n Itsilway 5
Va tl cn 1 allway Is
Tl ir I Vienue adi s.
Tri its' I ts
t picn I acifie 1 t 4s
I nion I acifie crt 4s
I uitrd Rjs. of S F 4s
I s Steel a f as
ti Iron C A C 5s
a. A Swil 1st S
Wabash rfdz Is .. ..
Yjj Tr Co etfs stamped
Uahl T 1st 4s Central Tr etfs
Western Marilarsl 4s
Total tales SA5CO0O0
CHICAGO GRAIfT MARKET.
Komiibcd by W B. Hibbs A. Os.
vVHKAT Oreo UUrh. Low Cloac
May 33-a S3s OOTs 934
Jl ly SI 91 a 91 91 s
COI N-
May 5ls 5" 51 , 5?s
July jS 53Vs 53i 53
ows-
Miy 31 Ai Zf, !',
July .. 31 31 s 34 3li
Paris will erect a statue to the famous
chemist, Berthalet, near the laboratory
where he spent his later cars
THE WIDESPREAD HABIT
OF LOSING MONEY
(Ccpyrilht ISO. by a Jl. Keja. New sort )
An enterprising student of Investment
recently took a list of estates probated
In and around Tsew 'tork approximating
In all about 310,000 00) and mado this
group ot estates the basil of a calcula
tion as to the proportion of unsound
Investments made b) the public lie
found that In these estates there was
about 12.1 WW) north Of securities that
were worthless If such an lrfsh state
ment of the case ma bo permitted
In other words, out of every dollar In
vested by these people 20 cents was lost
b putlng It into securities that turned
out to be worthless at the time the
estate of the buscr became of record.
He rcachcH many other Interesting con
clusions from the same data. Kor in
stance It transpired that even the presi
dent or a big New York City bank was
not immune trom the get ncn quick ais
ease, for he, like nearly all the rest,
hud a certain amount ot purel) wildcat
stock but the amount was relatively
smalt as compared with the bulk ot his
estate
The whole list consisted or about sev
enty mmes and thirty tour or these
IHrople owned snares In companies about
which their executors were unable Jo
obtain any information Ihts generally
means of course, that the companies
have either gone out of business or that
their stock has no value wnatever lo
sum up half of these people invested in
securities of this sort, ana 20 per cent
of the entire fund was the amount they
invested
These estates, of rourse were private
tunds It if therefore quite Impossible
to use this lusts In order to calculate
how much mone) is wasted in this way
for there is no record so fnr as nny one
knows of the total aggregate ot private
Investment In the I nlterl Htatcs. Hanks
Insurance companies trustees church
tunds and other incorporated Invest rs.
are prohibited us a rule trom buving
n cuss of securities that would come
mtnin tne get nen nuieK. ciafsmcaiion
1 hereforc the need not tn considered
when one comes to sum up the extent ot
th Ii ss that tails on the investment
world evtr vear through tins sort ot
investment
lhe I nitod Mat" government tnrougn
the lst-oftlcc Dtpirtmrnt nee made
pill He the statement that utMiut one
hutidrel million dollirs had twen stolen
Ironi tin i eople l get rich quick op r
ators in the course- ot twelve months
No satlsfact r dits however accotn
p.micii this estimate and in an pron
ahllltv It was little more than i rough
guess ma le l st me one in the J ost
otnee Department Men who at that
time were engaged in tne tasK or cna-s-
Ing n I tr)lng to ronvi t swindlers were
peril ir ipt to exaggerate the extent of
the get rich-quick gime
It wool 1 not be surprising however
If in a good jear like 1310 the light
lingered gentl) f the Investment world
had managed to sell that much worthless
stock to the nieriran public lor It
seems to be an unfortunate fact that In
this -ountr more than in iny other
countrv of the civilized world the public
(lunges ahead In ventures with Its
monej without taking even the most
slmpl" measures to find out what it is
bii)lng
In fr-in e Germinv Holland and
t an ettint tng end a verj much
I irger degree f investment confidence
Is places) in Innkers thin is the case in
this countr Thus when merican se
curities are Ik lght in large quantitl.j
bj the people of h ran e for Instance
tl buving Is done almost altogether
Ij lwnkrr-e The distribution of these
sicurlties Is earned on almost entirely
on i I atis of perfect confidence between
the lianker and hi, client People eio
not rush blftidl) Into an) sort of secur
Itv that mi) lie offeresl for sale no mat
ter how alluring the proposition may
TI pear Thev want to hive confidence
In the n an or th firm that Is making
the i ffering be fore thev put monev Into
anv thing
That this Inl It of areful selection
is growing in this country ts one or the
im it pre minent features of mcrican
I usiness life It Is hcoming more ind
more 1 macrons and more and more im
I oi.ible f r irresponsible promoters to
r. II worthl-ss securities to the public
New idles there are tho isands of people
thro icho it the coi ntr who wnen they
n-celve glittering circulars promising
all sorts f sudden wealth send these
circulars on the Post office Department
at Washington or turn them over to
the macazine it 1 the newspaper and
isk them to expose the scheme as well
as thev can
rvervbodv knows however that when
one destrovs an industrv like the get
rich-siuirk Industrv it is ncccssarj to
put something in its place If there is
a sum of iO lio,00i) spent b) the people
ever) )ear in unsound investment, and
we set to work to destrov the business
of selling this unsound securit) some
thing has to be substituted for it That
is the task of the Investment world
To meet this demand there Is now a
serious attempt on the part of leglti
mate banking people to create a class of
sound securities that can be sold in
small annurtr from J.A to JIM. This Is
the eiesis for instance of tho plan
which is now beinr: nracticed bv a great
man) corporations of issuing their bonds)
in $100 pieces It Is also one reason why J
preferred stocks in $100 shares have en
joved si h a widespread market for thej
pist three eirs or so On the whole j
the efforts m ide b" the legitimite In
vestment nirll to interest the clas of I
mine) tint his iiua)s gene into get
rich quicn linking have not so far been
as sorl is is thev might be although
a good beginning 1 as been made and no
doubt In the course of time minv other
stei s will be taken in the "ime direc
tlon
NEW YORK COFFEE.
Furnished by N L. Carpenter & Ca
CO!lQX
Bid. Asked,
life Ull
11 132
13.31 OS
U.l 1117
IXS3 13j
Uj3 13.60
13 6j 13.K
I -3 13"!
ur 13 6
13.13 3 CI
OM 13 S3
Ui 13.53
Fehnary
Marrh
prd
Maj
Jina
J 1
i rum t
s,i emKrr
Vtcbr
IlwTtnlarr
Jan ar?
FINs4NCIsL
Prudent Investors
Compare Results
For the benefit of those investors
who investigate before they in
v-st we hav e issued a rensed edi
tion of out booUet.
"The Most Satisfactory Bonds"
This booklet shows, in charted
diagrams which make cempan
sons easy, interesting and profit
zblz, the relative returns to the
investor from different classes of
bonds.
Yon can tee at a glance why
the books hope mcreated thetr
hoiAngt of the class of bonds
by sending for Booklet A79
N.W.Halsey&Co.
49 Wall Street, New York
Philadelphia Chlrdfc & afnadaeo
FINANCIAL
Here Is the Evidence
Amount of Interest
Paid to Depositors...
Amount of Dividends
Faid to Stockholders.
8675,343.71
The Balance Is in Favor
Of Our Depositors
Its facilities for transacting banking business of
every character arc complete in every detail.
It fully realizes its obligation to depositors and
maintains a service which is uniformly courteous and
efficient.
In brief, it is equipped and conducted in a man
ner to meet EVERY demand for sound and satis
factory banking.
SAME RATE of
Both Large and
OFFICERS
willi si n noostn.
WOODBUPl ItLAIR N
11 V-Nh. fTONU
Prend-nt
. ,
1st rf Pro.
Jd in Pros.
DIRECTORS
Gcorse W Gra
William D Hoover
Georpe Howard
Ki-ainald1- Huldekoper
O II I' Johncn
rhoma R. Jones
Ictor KaufTmann.
IVoodbur Illair
S Thomas Tronn
James A Buchanan
William II Church
Walter ClepMane
Ullllam Cox
William K Edmonston
National Saving's and
Trust Company
FORTY SEVENTH YEAR.
Corner 15th Street and New York Avenue.
Under U S Government Supervision
The Spirit of Progress
is contagious Many have contracted it by starting a
bank account here
This is a young and vigorous bank, ever on the alert to
accomplish greater things
It' brief past shows a commendable record of sturdy
growth and it will CONTINUE to grow, because its founda
tion is solid and its policies are RIGHT
Whatever your business or occupation, you will derive SUB
STANTIArT BENEFIT from becoming identified with this bank
Call on us at any time
3 on Savings Accounts
2i on Checking Accounts
Washington & Southern Bank
1413 G St nw
I hone Main 1S02
The Ideal Investment
is one which combines these three eggnHwl features A reasonable
income, a reasonable salabthty. and a satisfactory equity. We have
on hand a list of mortgage bonds which answer these requirements.
IT tnraU If rlai tt okJ Circular JTa. 43 ts tlcst Ulertttti.
A. B. Leach & Co
Investment Securities
149 Broadway, New York
CHICAGO PKJLADELFHIA BOSTON LONDON
Your Investment Problem
can be easily solved by submitting your financial condition and require
ments in confidence to an investment house of wide experience. We are
always glad to co-operate with those who repose such confidence in us.
TTH m$ lint fur ntcdi
Kean. Taylor & Co
Members New York Stock Exchange
30 Pine Street, New York
Are You Interested in
High Grade Investments
Ask us to send you
Special Circular No. 52
Lawrence Barium & Co
Bankers
1421 F St., N. W., Washington
New York PhiUaVphu PitUburjh Boston
FINANCIAL
Capital $1,000,000
Earned Surplus $1,000,000
Deposits Over $7,000,000
81,915,343.71
$1,240,000.00
by nearly seven hun
dred thousand dollars
striking proof of the
fact that IT IS PROF
ITABLE to have an
account at this big interest-paying
bank.
But financial benefit
is not the only advan
tage we offer YOU.
Although established
nearly half a century
ago, this is a THOR
OUGHLY MODERN
bank in every particular.
Interest Paid on
Small Accounts
I IOPI I HOW WT
CHlltLLs L. N1MIN
I, IM,4 , LAMIOItN
KT NK t,Tr7rxN
Trtiwrsr
ctretary
4. Tnaa.
Trust OSccr
I lward Mrlan
'-amuel Muddox
William I- Qulcksall
Frank W "Stone
William II W iIKer
John 1 Weaier
Henry K. Willard.
Branch Center Market.
I SEIAWN TUT Tresident
Our Annual
Dividend Book
containing sixty-eight pages of
authentic information, embracing
earnings, capitalization, di t
dends.quotations.etc, of the lead
ing Railroad, Industrial and
Mining Companies and then
stocks, is ready for distribution.
Cepte mailed upon rtut
Thompson, Towle & Co
Membtra T A. Boaton Stock Exefaanraai
1609 Bankers Trust BinMc. New York
50 Concrua Street. Boston. Maas.
al
