Newspaper Page Text
F&p - --"r5?PM '"'VSS THE WAStof GTON HERALD, WEDNESDAY, FEBRUARY. 5, 1913. . 12 . rjr" MAMETS-FmNCE-COMMERCE - Z - - 1 . LOCAL MARKET VERYSTEADY Gas Shares and Railway Com mon Leaders, with Pros pects of Large Trading. BANKERS WELL ARMED Lay in a Stock of Savage Automatics. Other Fiscal Matters of Interest. ny I. A. FldEMINfi. I -oc.il securities arc showing consider able strength, especially the Washington Rallnav and Electric shares and Wash Ington Gas stock 1 Itecaute holders are decldedlv firm In their views there lias been no great amount of activity, but the evident firm ness Is an Indication of satisfactory con ditions and prospects for higher figures. Our market motes independently of Wall Street. But the large amount of Investment monev paid out In. the last few weeks must make Itself felt on local securities, when the present feeling of uneasiness is over, something that tho public wets not has disappeared. Money Is so easy and there is so much of It that the banks will soon become bujers 3f securities. Yesterday's transactions were limited, but Ix-fore another week passes there hould be a .good movement and at high er prints Washington Gas moved up to S3. Only a da or two ago a little bear movement was detected, but run Its oiirse qulcklv. getting out without loss Vrhaps but for the suits that hae de eloped, probably as a result of a desire o force an issue, v alucs might ha c been higher but not much, as the matters in ssue are not of such vital Impur ance The attornes of all contestants. Ini luding tho-c of the Washington Com an. btlicve that the victory will be rasilv wrested Itullwav common was Mtudj. SG bid. none offered under SS Preferred moved jp fractionally, SO freely bid. fractional ddanos over this figure were paid for mill odd lots Itailnav 4s were firm at S4 1-1 Mergy.. ii alanLera' Arm. Just to hu preparedness and as an idence of good salesmanship, it may be Hated that the banks of Washington, or at least ten or a dozen of the larger banks. hae recently charged Saage au f matics to expense account. A salesman In one of the big sporting goods houses took a notion the other day that the banks in Washington had not a sufiKient supply of artillery on hand I'-arrvtns out his theorv. he .strapped on a dozen Savage automatics, ten tbots as fast a ou can pull the trigger, and started on the rounds of the banks. The stock was disposed of in short order, in t-oine banks two and even three were acquired K an) crook tries a local institution these dajs, a Savage will bark, and right MUicklv Mso it was a good sale at a time when t. mi Wire moving slowly. StocL. Exchange Scnts. S ats on the New York Stock Exchange have been graduallv losing their attrac tiveness and their value, as the public ap pears to be weaned from the allurements of the ame, lias shown material reces sions Thcv arc no- longer the seats of the might, still less the teats of the oppulcnt." From 1900 to -1309 the prices moved up. now they are going the other waj. The advance was from J30.000 to J9S.0O0. The retrograde movement, at last acounts, was back to the S4S.000 mark. Not many of the securities that are their stock In trade have fluctuated up and down so widely in the past decade as have the privileges of such trading, thus recorded. Hijh. low ,,, TJMO. SOW mo . " siwi to an Ira . ...; '-m 2 nan sz.vn Sr sxw "TO J " 9GW) ,:) - siooo jo.oao n !!"!!.... si oa K.ooi .3 .;;." cooo si n nl ... flora f-ow .,-,, fO 000 43 300 , SOTO 30000 Ventern Klectrfc. Gross sales of Western Electric Com pany In its fiscal ear to December SI last nnde a new high n-cord. exceeding .ven t'u former liishpolrt of O.000.W) lou bed l the 1W bim On account of me world wide ram.licitlon or Its bu-I-ness "he exact figures ct tne 1912 ear's liusinesi are not yet at hand It is not known, however, that for the ear tlu aggregate turnover was between f ;i onrvl and C2.CI 000. which compares with 0C,211.0ro in I'll an increase of ...OrtiAOO or S per cent, and which ex ceeds bv SJion.Onr. the l'S showing The excellent results of -the 1912 car sq far as gain In sales is concerned were largely the reflection of advances midc outside the Bell system. The so-called "outside" business of Western Electric has Incxaased almost 100 per cent since J10G, and tha European sales last year alo were of record proportions. Tho $71,000,000 of business biU?d last year was accomplished by an energetic selling cam paign in th? face of Increasing competi tion It is a fact not generally appre ciated that Western Electric meets a more varied competition than does Gen eral Electric or Westlnghouse. The company Is now selling to upward of 30.000 customers In the United SJatis alone Two new ice presidents have recently been added to the Western Electric staff. They are Gerarl Swine, for a. number of years the company's general salea manager, a.nd A. D. Salt, tho general purchasing agent. Trust Companies. The real estate department of a trust company Is .not a recent departure in trust company work. Bnt it is only within recent jears that the people who have to do with real estate affairs have begun to appreciate the service it renders. Instead of one agent passing on important real estate transactions, the soundness of loans made on mort gages or the validity of titles and valua tion of property, the real, estate man ager In a trust company has the benefit of advice from the various executive officers and the members of a board of directors who must necessarily be some of the most successful'and responsible men In the community."' It Is, therefore, natural to suppose that. Where real estate property is conveyed to the care of trust companies either as agent for owners who are living, or as executor, trustees under will and administrator of estates, there are many advantages over the Individual. i Trust companies, through their trust and real estate departments, act not only for the living, but also in behalf nf the dead. Time and experience bare roroven that 'in all transactions which require faithful, and extended Bervice the corporate ' trustee, living on forever, from generation to generation, excels the Individual, who may Abscond, become JIL or prove incompetent. Through the real estate department, the man who has acquired a fortune and wishes to rest upon the fruits of his labors, may be relieved of all burdens growing out of his real estate holdings. The trust company attends to the col lection of rents, to making repairs, to finding new tenants for vacant houses, to renewal of Insurance policies when due. to payment of taxes and interest to holders of mortgage. It keeps careful accounts, showing exact Income and ex penditures on ever' piece of property, so that at any time the owner may know if It is profitable or otherwise. When the trust company Is appointed agent and obtains the lease, it ascer. tains if assessments have been property made, and often secures a reduction In the appraisement It prlrfta list of houses for rent and has special oppor tunlties for quick rental of vacant houses. This applies not only to residential propj erty. but also to factory Hies, business blocks, stores, &c Economic "Vlniingeuiciil. It follows, almost as a matter of course, where the owner of real estate lias trans ferred the care of his property to the real estate department of a trust coni- panj and learns how economical!) ana faithful all his wishes are fulfilled, that he makes a will In which he appoints the trust company executor or trustee and administrator of his estate lie tit assured that In the even of his death tha trust compan will continue to mamce his real estate property as well as Ills personal property with the same fidelity as if he were alive, for she benefit of his wife and family. Where the trust com pany Is consulted In the drawing up of the will, the power is usually given tn the trustee to sell real estate or per sonal property at its discretion. It is a common occurrence with trust companies that the) save estates in their keeping large sums of money by disposing of propert) before It depreci ates In value In such cases, the trust officer and the real estate department manager work hand tn hand They have expert appraisers who know In advance whether real estate Is going to depreci ate In one Instance, a local trust com pany recently saved an estate 133,000, by selling a business block belonging t estate In its charge, although the beneficiaries were at first opposed to the sale. In connection with the real estate de partment there is frequentl) a title de partment where validity of titles ar confirmed at lowest cost. It has also facilities for securing the best real estate mortgage loans for Investors, cith er for those who want this kind of se curit) or for investment of trust funds In their care. Because of these and other features, the real estate depart ment of the trust compan) is com mending Itself more and more to those.1 who ma) have need of the service It renders NEW YORK STOCK MARKET. New Tcrt. Feb. 4. Hish Low. Oose 73S 7T, 73 .. .133 IX 133 41 t) 2Ti irv. vx', 13P 33U 33' 53V. .. 5? a-, si', '.a Si s .. TS'j 73 n1. . K .4. K 1! 34 1 131', 131'. .. 4 SO1, .. lOjij 10ua Kb's . ra 78S 77S .. 31S 31S 31S .. -K 3T. 37's .. 11 11S 11C ici mr ior, . lor, id', wj ..40 49 49 . 10K IOCS 10. Hi 641, f4', K, ffi', (SS 63 S3 63 oy., soa, . v.', 33. i. MH H MV 2H)--m ZSf, U 3S S" S .73 78 7S . 17 1A K lit', 113H 1134 tiles. S 709 Vmalzunaleil Toricr 100 Am. llnot, Fhoe I. K 30 Am Ruet Shoe & V rfd XJOO Am (.an 2.7SJ Am. Can rfd 100 Am Car Hoandrr 1.20 Am. Cottra Oil 1 Am Hide & Lrmtbrr rfd 300 Am Ire SVnirtlits 1.100 Am. bnieltinc 100 Am. Kmritias iYL. B . 700 Am. Stctl Konndry K Am. TV!. Tri 3 305 Am TotaMxo 3D0 vm Tobum) rd., new . . fl Am Woolen pfd .. IfO Am Will Paper pfi . Vft Anaonnda 104 Aveta Realtr Co. . n Atchison 3 Atcliivsl rfd SO Ilaldain Lnrrrootlrr 100 Baltimore & Oliio 100 IlaltuDore i. Ohio rfd 3 BeUilrhmi SM I'M 100 11 V. Uoorirx-h 9"! Biuoabu Rind THnlt 3 300 California IVtrolciim. -JO California Petroleum rfd- 'J00 Canadian Panne ... aM Ontnl Leather .. 100 i(aprafce A. Ohio 30 CIjkict G-rat Western... 1000 ( JI 4 SU r. too ant. vt . t. P pfd 1 COO Chlno Con Copper 5.3D Col. Fuel A Iron . KO CoL South ice Cuuohdated Gas .. WO Oro Proilirti 100 Cuba American Suzar rfd 300 Deere pfd. 100 Delaware. L. A. W subs CS Ci 40 'S iS :is as 31S ISVa II', IIS S Detroit United It R SOB Erie s-" ll. us us s' ns as 4SS 4IS 4S 600 Erie l't rfd 100 Gen. KJerlrie Cb .". . 100 General Motor. 1,29 t.nld&rfd cons . GC Great Northern pfd . . 3)0 Great North Ore sub 103 Illinois Central . ... 103 Ins Copper .. 3J00 Inter Metro 4.S00 Inter Metro pfd .... . 100 Inter Hamster 109 Int. rars-r 1C0 Int Pajcr pTd 400 J Kaiser Id J Kaiirr pfd I0 Kea A I VI Jd M0 Larkaorns Mrri f.00 lJrhish Valler 400 Licsrtt & Mwtj . 12SS CS 6T 63, 1051, iar, WW, 1CS l'i ! 3 rs 23 3 Llgrrtt A. Ibrrs pfd US SOO Iose-Wiles 3V. 30 Ixnoe-Wiles 1st pfd 1.0IU .TO Louiinlle i NashfUle .... I3S4 100 May Dei. Store 75i 2.8)3 Mexican Petroleum 73U 710 Miami Copper - 3!a ' V, K0 M.. St P . S R. M. 101 M K. . T. pfd- .... 700 Ml-ouri PanGe .. 100 National Ixnd 3T0 Ncrada Con. Copper., 100 New Tors Central..... 140. IBS 61', 04 O'i lfS 109 109 103 N T., C. A St. IV.... 58 58 310 N Y . O. i W..., an as 800 Norfolt &. Western. 1.000 Norhern Pidfle. 3)0 PennpjlianU Railroad.... 310 Pcttihone, Mol... lHHt )00S 1DSS 131' iroi iii I2S 121 121 58H 25'i 2S TO Pettibone 1st pfd...., 3SS 0HU 3SS 2S 2TS, 3)0 3)0 100 100 3)0 nttftrinr Coal ZT 100 P Lonllard nfii. 3 100 Pressed htccl Car pfd .. .. 100 400 liar Con. Cbnw h ; mi 1SS 1G3S nss 91 90S 90S 30,300 Reading . . .. 400 Readme 1st rfd IJto Eepubhe Iron i Eteel.. 6 400 Rock Island 2.SCO Rock Island pfd 313 Rmneb; Pfd. M .... SPSLLaS F. ..., 100 st l. . b f ai rfd.. 303 Sears Roebuck 33,003 Southern Pacific. If., 2IH 13S 42-, 98U 9B 1J ITi, 300 Southern RBilrar........ 77 100 Southern Rr. Pfd B0; 103 SUndard Mllluic. 40 309 Standard Millinc cfd. CCS 3 Stndebaker 34S 200 Tennessee Orper -34U S41, U StVa 3114 20S 23H 100 Texas & Paclse. 20S 400 Texas Companj.... UJG0 Union Pacific 2.100 U. 8. Rnober...... 27.700 U a Steel 1.103 Utah Copper. COO Western Maryland. 120S 120S 13)4 .. IMS 160S 160V, .. ces ' v. . e C4i tfs .. 54K S4S 54S .. 4IVi 4t 4IS 103 Western Union TeJetrapn.. v: T. '.. 250 Woolworth .'... m 101 Mi's Total sales. Z5L633 shales, aiainst 299,016 resler dar, 113,417 A sreelc aen, and 479J00 a Tear 11 NEW YORK MONEY. 2tvr Tork. Felx 4. Call miner cjnd t Ti per cent; Uxb, 3 per cent; low, ?4 per cent; rent-will, ri per cent, cd doted at ?a per cent; rolin; rate, ZVi per oeoL . Tims znooey market rcxoaina duJL Tberu his been no chance orrrolcfat. It maintains the aUiiitJtr firmer tone It dereloprd yegterdar. ovine to th mDr Tolmsa offerms tMs week. Batu are Sat per cent far rixtr days, aH( per cent for 93 dart and four moethisnd 4U, per cent for fire and eix months. CkTmmerdal paper market Is a. little Citdet. The beat named tiy-mordhs" paper is at 4Ha6 per ceolv London discounts. I' per cent, off 1-11; Taxis dis counts, 31 per coat, enchasfvd; BetUa discoimta. ft per cent, vpH. WALL STREET GOSSIP It Is) reported from responsible in estment spurces that there Is an In crease of capital diversion Into the pood railroad Issues. ' Accumulation of Amalgamated la said to be going on In considerable quant ity. I f Philadelphia Interests are found ,bu ins Heading; on breaks. It is said they ore replacing stock sold before the Balkan slump. Union PadHcand Subway matters are. holding In check the operations some ofthe bull pools. Information channels show that pro fessional traders continue to be bearish on the market In a majority of cases, and are inclined to sell on rallies. Tho short Interest has started tot In crease again rifter moderate reduction. Trlvate borrowing of Steel. Amalga mated. Smelters. I'nlon Pacific, and Reading Indicates this. One of the largest International houses Is reported to be buung the IIIU stocks, on a scale down whenever weakness 1 exhibited. In France. Germany, and Austria alone more than J400.000.000 Is being hoarded pending peace declarations. Kvans Market Is backing and filling jvlthout showing any tendency, awaiting a new Impulse, and I see no reason to exnect any Immediate movement ot lm portance. When the real move comes I think It will be in the direction of lower prices. The price that the Union Pacific will pa for the Central Pacific Is between tlOO.OsXOOO and 3K&.0OO.OO0. Stockholders of both the Union Pacific and Southern" Pacific will be gl-cii the privilege of subscribing to the Southern Pailflc stock on a basis that will gie the Southern Pacific ktockholders a little better than their pro rata share of the issue. TIib t-outhern Pacific stock will be under written li a sjndlcatr. it Is understood, ot 87 and will be offered for subscrip tion to stockholders at par It Is ex pected that an official announcement of the plan which has Been agreed upon by the directors of the Union Pacific and Southern Pacific and the Attornc Gen eral will be announced on Thursday of this week A W'nslilnirtiin fllfaDatch a s It was announced Monday that all further terstate nnd Foreign Commerce Com mittee of the House were canceled 'jnis action was taken on account of congested condition of leglslatfon In the House This neuns there will be no hearings on the long and ehort haul clause ot the act to regulate commerce or the Fed eral regulation of insurance companies, or rates of transportation during the present session. The hearing jesterday was on safets de iccs for railwajs. The dissolution of the Union Pacific- Southern Pacific merger which is now In progress. Is expected to result In some important changes In the railroad map nnd in alteration of the routing methods which have nrevailed for a long time It comes from Important sources that close relations mav be estnblislicd between the Southern Pacific and Hock Island svs tems and statements to this effect are in part Imrne out by a study of tho new organization of the Southern Paci fic Company. The statement Is definitely made that there Is In prospect a diver gence of the Southern Pacltfc-lVs Angeles-Chicago business front the Union Pacific to the Rock Island Under th arrangements the business will be shipped from Ijn Angeles on the South- ern Pacific line to Kl Paso and then transferred to the Hock Island lines for transportation to Chicago. Missouri Paclfio sstem December total operating revenue increase, JTS9 0M. Operating expenses increase. JITS, 1. Net operating revenues Increase, 1310,773. Gross Income Increase. Jl.o5l. Net In come decreased. C?.S1. Union Pacific will take over Central Pacific sjstem for cash, present plans Indicate. Southern Pacific stock now In treasury of Union .Pacific w 111 be under written by svndlcate and offered to both Union and Southern Pacific stock holders at around par Washington dispatch states that a plan of guarantees for safety of deposits will be Incorporat ed In banking and currency reform bill to be presented to House early in Wilson administration. Steel specifications heavy. Iron transactions light, sharp break In tin and offerings of copper freer at concessions. Milwaukee and West Allls properties of Allls-Chalmers Company sold to reorganization Commit tee Interests for JZW.OOO. Jerome D" Greene, recently elected to the directorate of the Western Mar land Companj. was jesterday elected to serve on the executive committee. He succeeds Wlnslow S. Tierce. Onatlvla I hear from very good sources that the railway strike and steel strike will not amount to smythlng. Contrary to general expectation, the American Can will not pay fit the en tire 224. per cent of tho accumulated dividends on preferred Immediately. A substantial reduction of this accumula tion will probably be announced very shortly, but how large this will be Is uncertain. It would be Impossible to pay on xne entire amount unless earnings previously put lntd Improvements, ic were capitalized, and the Interests con trolling the company, it is learned, do not favor such action, as they consider it would tend to weaken the company a financial position If these earnings were used for paying dividends. The decline In Can was accomplished by a rumor of a suit to enjoin the bond issue. The ticker lawyers said the pro posed financing was Illegal, and they gav e many reasons. Intelligible, no doubt, to themselves, 'but quite too abstruse to be understoodVby others, why the pro posed plan could not be carried out. American Cotton Oil Was a strong spe cialty. Its rise was attributed to the Interests which made the recent bull movement -In Can, and which, for the time belnr. anrjeared to be neelectlntr tha latter specialty. J. B. Harriman & Co. The -market looks sold out. and conservative people look for higher prices. There is very lit tle interest in the market, however, and prlces..draaT. The .American Can Company reports ior tne nscai year enuea December 31 net earnings of 7,K2,332: deduction (or Improvements, 'depreciation. &c, tSS3,8S6: balance, JS.533.W5. This balance would be sufficient to cover all requirements id connection with the preferred stock divi dend, and' the service of the new bonds as follows: Balance of profits, JS.S33.048; preferred stock, 7 per cent, CSSS.331; In terest on Jit. 000. 000 bonds, 1700.000; sink ing fund, JSCO.000; total. J4.C8fl.331: sur plus for common stock, 2,iS2,17S. This surplus would be equivalent, to 6.9s -.per cent on the J11,333,SC0. common stock "out standing. If from, the year's balance of profits only the preferred stock dividend was deducted, there would be left J3.S03. 715, or SJS per cent bn the common stock. Shotwell Operations on the market are purely professional, and ore on light scale. The petroleum stocks are strong, because their earnings are far In excess of dividend requirements. Mexican and California petroleum are not popular Jn tne street, but will be popular later on, when the traders realize how much they are missing by Ignoring them. The whole market acts as though-it were on the point of another rally. ' Heaviness cf Southern Pacini Is due to the rcIKirt that the segregation plan would provide for the sale of the 123.- 'XHtOw' Southern Pacifier- stock held by Union Pacific; and the purchase of Cen tral Pacific for cash. It was argued that it would not be possible to sell S12S.CO0 000 Southern Pacific stock without breaking the price, and that an important re covery would be a remote contingency in vlw or tho big Interests of the float ing supply. r At a meetlag of the stockholders of the American Can Company yesterday the Issue of JUOOCOCC debenture Twnds was ratliled The retirlngiircctors were re-eiecteu Prices of all grades of Pennsylvania crude ou made by the Standard Oil Com pany at the wells was advanced 7 cents :i birrel yesterday, and Somerset was advanced 3 cents a barrel. The London copper market was easy; off "s. 6d. OUTSIDE SECURITY NOTES. ew York, r'erx 4. The trsdlns; on tha outaid securities market Uxlsr u for tha meal rart cen tered In tha Standard Oil shares, sthlch srere emits strom: in a few of these advances of from 10 l 60 points err scored, and In Ccntfneutal Oil a gain rf 23 points made. The balance or the list sisa quiet and stith prices nddlnf about stesdr Tha loucco stocss were dull. Bonds were quiet and about stead NEW YORK CURB STOCKS. .New Tort Fro t. "To-day'i impcrtArit curt) quo Utlou venr as follow 11U Aed. A ojlo-America o OH.. . . . W' JD Hiatl-rn $ , Bri 1 if Ii -American Tvbscrv. . .. ,-. US Cbhitu feutrwar . v- ; Glrwix roti-si 3 ji Girrne Cananea ........ 8S IlDlllnscr w 15 154 lDtrroontinental Rubber. 3 10 Krr Lake .. 3Z-1J P-, La I-" com . .. 3 ;i4 L Coal a-alra lb 21 230 Maaun a!Ier . Manhattan Transit .v j tVU 1 1 It Mi mini, Cana-ilao Z 4 Marconi, nw . 5 c Mliv-ioc Mixes Ti 1' MjmUrd Oil. rx-trnb Ct 433 ukon (Sold ... 3 Zln rpftrd Cizzr '-torn 1C7, -os iDitftl .irr -torr i4d 117 Ml BOND Kdim Yxs I M S3 llrad-rti b JSJ jiq Ilrarlcn 1SJ 1W II I!. T notet ( 57 Chf.ni.. tarratn U S8 ?4 Icntnal Tram 5 100U JOT Vtcitic f.at Klrctno i. S3 Si-H Western Taolc is tffU SP MISCELLANEOUS BONDS. .New Tork Kcb I -Orxirr quotations of miscel Isneous honds OlJ of Tc4c)o Ss . fo a dfj tVRrown llrrn. a Cx etf . . .. 63S New York Ontrsl 4. D80 loo". Am 4x Ofio. 5s .. .... 10H Vm T. 4. T est. 4s JOSS l I I s 1' nUi m 4. T S r erd. iv rrcistettd it's -Vtlsntic Une-I. A N. 4 51 Itsttlmora Ohio iL SHs. . ... sn. Ilsltlmura i. Ohfc jld. SHs. rrsisiercd n't liaillnHre c llho colj 4 ... art. Ksltimore i. Ohio ctt 4"sv when issued S64 naiuniure iillslsir; u E. at vv. Ya. 4s . 99 Ilethlrhtn Steel rfc Ss K laiakr i. Ohm aul lts Kft", vneaprsae a. tttxw est 4'rt... 54 I Sill 4 H T 4V,.. Idi, i li 1 t 1- nx 4. grr4 C It I P o.l 4 SS, IleL a; Hudvwi rrt U ,.; a 571, IHe crt 4s str ft -51, tMt I's CoI 4s. JJ. hti rd-. aea j. lemjin. rmrrpts mil raid 104 fn Vfrtor sf 4s aro. InterborMetrppolitan 4'-i HAj inirrnnro it. T KtM 5s 1041, Int. St Piurp Ss jrv, has. Mien 2d as ... JS, Kwa & Mich is ajVj I-ake hhorr 4s. 1931 92s Mich. On deb. 4s sa Minn. & St I t 4m, Missouri Pacift est. 5s CS Itrs t M 4Hs c N 1 Railwaj rfi. 4s (S N" 1 KaUwafs adj. is s New York Telecrsisi 4Ss 9 V. V V Boston. 4S SB'i Norfolk o Western ctt, 4S. wnen &sued.H. 106", Norfolk : Western est 4s, new ices aniiem I'scine is .. . jtu i'ernsrlrsna 4s. 1906 . .. 96S rmn-jlrsnia 3Ss. Dli . .. sp, rennsjltsnla 3Ss. ser B 8Ts Pub. H cf N" J 5s srs St U Southwestern 1st 4s . Seabnard Air lice adj. 5s ?4 So. Bill T J T 10OS exaithern Tscifle col 4s. 9SS Southern Tsdilc est. 4s 93 Southern Bsilwar Sa IK. soutnem RaUwar 4s JTT. goulbera Rr. 4a. Mobile . O. dir K L. 8 Steel s t 5a I0i. Va Tar- Chcra Ss V a JL Southwestern enn. 5.... . . tS Western MarjtsM 4s SJS Totsl sales, 52 OW NEW YORK COFFEE Furnished bj N. U Orpeattr Co. Ooslal s CM. Aaktd. nhruarr. Ull U.U Msrcb.... U51 IJj: Ami 13 Es ltO Ma; 1 ixa urn June 12.66 us JulT. 1363 13.49 Auiust. 13.T2 13.n September u llrl Ortobrr...... ...... 13,(1 U(3 Noiember .........:...... 13.(3 1361 December. 1J.U 11(1 Jaauarr .. 13 60 13(1 NEW YORK COTTON. Furnished kl VV B. Bibbs & Co Ore. Blab. Icw. Clear. March 12.31 1133 1123 1233 Mar 12.t2 12,14 120S C1I Jnlr KOI 1203 11.0S KM October...,. 1139 UK 12,37 12.13 'COTTON STATISTICS. Famished by N. IV. Carpenter & Co. New Tork. Feb. 4 Receipts. Mlddlinn. Last Tester- To-dsj. rear. Todar. day. New Tork 12.9S E.53 New Orleans. 10 9OJ 12M( UMI Galreston 12,31 3tT2 12S 124 Mobile. 142 l.SC 11W 1214S Sassraah 2.115 UVUI 12 12H Charkstoo ffl SS- 12S BS Wilmington... C3 1 5B3 .... .... Norfolk 1,23 5J32 12S 12i Baltimon!.....- 11 13 Boston... .-. S .... .... Vsricras.. .."... ...... tJSX , 3,68 .... TotaJ. .".. ' M.S1J t IKTEBIOR, Houston.. .....-. 9.1C U.CI 12S 13S AtunsU. .vi ZO J.1U .12. 12V JlemphU .'.... tCfl 4.434 i: VK 8L Laolt..'.. ....... ZSfQ 1S3 12S VXt LHtla Rodr...... 2U 1JX 127-K 17s CHICAGO PRODUCTS. - rumlshtd b VT. B. Bibbs On, PORK- . Open. BIch. nw. rjoae. ' Msy. 1130 HC 12 U.O juir. . i" nj 13,23 nzi LARD- May......... ..10JI1 103S 1&2? 1023 Jnlr....................... 10JS 10.37 10.S 1037 RIBS- V Msy..,......... ....... 1O30 HL3S 10.27 1033 Jnlr .......... M.39 10S sua WASHINGTON STOCK KCHANGLlXf'Tinea.. aJ Sales-IIemlsr call. 13 o'clorjc noon. Cbesafako ai Potcsnic TtlerJiana U, 11.000 at rr...lt.l T.in 1 ., is Waihinrton Itsliway h Electric rid.. ,10 at 90S. S St tO's. 2 st ;,. ' VV siMnalon. lias. 10 at SS. 8 at 15, 1 at US. Jlent-nllisler. 10 st.nt ' Farmers J, Mecbanka Nstknal Bank, 1 at 200. After call: " tirJtsl Trsrtlon. 10' st 121. Wahtnston RsHsisy k Meclric U. l 000 at M'i, HS20 at C4S. ROVERNMFJfT CONDS. Bid. Asked. LV -4. res. 2s. .". luTi -10P4 U. S. rwilon it K0S I01S n. J. ret 3s 1CH 103S U. 8. ecutran Is. 192 IKS K S. rer. 44... . IBS 114k D. U. coupon 4s ......C.. .7113 IMS Gab bu'STJa Geortxtosm, Ru eert. lnd. Ss... 1(3 Georgetown Gas fa.... IB) Washinrton Gas U 110 "" IMS RAILROAD BONDS. lar-ltll Traction 5s . 110 tfcluraMa 3 M0 Columbia s 101 Metropollt.n Ss IMS KS VVsshlncton Ry. i. Elec. (a ! Washlncton, Ales. k. Jit. Vernon 5a., 57 MISCELLANEOUS BONDS. rotomae Klrctric cons. Sa. 101S KC, rotomae Electrie Ujlit U IMS Cberapeske- aV rotomao Trlctbone 5s.... 104 hX American Tel. A TeL 4s.... .M Xs D. ti vrsprT Jiff S X 1 Norfolk:: Washington Htesmboat 3s. .. I01U IK llirss Realty U llorzl. . lTs 103 RiEjs Heslli 34 fihortl ICO 10?, PUBLIC UTILITI STOCKS. Capital Trsrtion v..... KS" VVashirutton Usllwsr it Flectric oora.... 6 Wawitntton lUUa-ay as Electric td.. . SO rfi Norfolk ic Wsihlnooa Htesmboat. 305 Washington (las JI". O'i American Telrphone & Telegraph 151S Amerlcsn TclerJrane c Telegrsph rigfata S Ttri. MACHINE. STOCKS McrgentliaM .... . .. 211'. Lanston JIon&type.. .... ..... 88 MINING- STOCK, Greene Csnsnea........... 8S NATIONAL BAMC STOCKS. Ametlran 170 fipilal 223 Columbia ...250 Commercial .. .. 301 District lfcS Farmers A. Mechanics. 250 Lincoln 152 Metropolitan 3U nun .. ao Second . 153 Nstlccal Iliak of Wsthtsgton 243 TIICkT rOVIPANT, STOCKS American baenrity Jr. Trust 310 Nslional Satiao at Trust '2C7 Union Trust. IKS 13TS Washington Loan A: Trust... .22S United SUtea Trust IB SAVINGS BANK STOCKS. Cltlstns - IIS Homa , 22 Union ... 24 Bask of fjommerea and basing. .... 12Vs East Washington US FIRE' INSURANCE STOCKS Arlington ., ! Kiremen'a'C. 80 rranklln GermanAmeriesn 2S National Union fotomac 20 TITLE INSURANCE STOCKS Colombia .. (S Resl Ladle JUSCELLANUJUi STOCKS. Cbspln Sscka .- - IB) 1) 41 I-sper Mfg Co. 121 Grstbotbona com .... 40 GrapbophoDe pfd.. . . 73 Merchants Transfer at Stoeagr. 105 Security elnrsge ."21( Washington Msrket. v .,. 17" Es illTldend 1 BOSTON C0PPEKS. Vdrenturr Kubnnla . . talumet & Arisnna alumet it Ifrcla I'epeer ltange lst Butte rYlnklin Indiana Lake La F-alle Mawsi Valley Jlajflowrr Jltrgcnthalcr MlchUan Jlohawk North Butta North Isle tiki Dfimtuion . ... O-eroIa tMincy . - - r-aarnon iMMith Lakr Mwlft Tamarack Trinity United l"niit I Uh Con-obVlated V let oris VVdrrrine BALTIMORE STOCK MARKET. STATE SECURITIES. Bid. Aske Jlsrjland 4s 193 . .. . 9S,i . BVLTIMORE CITY STOCKS. Baltimore City 5s, 19W .. . IOC". GAS STOCKS Consolidated Gos 4S 94S (ens. Gas E. U. I' 4Ss. OS X Ions. Gsa E. L. & T. notes 99s 10( Cons. Gss E. U i. I. pfd I3 13 Hrrscuse Gas 5s M Jscasonrille Gss 5' 10; BANK STOCKS. Farmers i. Mercbsnts National Bank 49 51 Merchants & Mcrhaniea' Bank 22 National Bank of Baltimore HI1. . National City Bank... . 1 N'aticnal Howard Bank .. . II1. . National Union Bank . .. BPi 111 Second National Bank. . .. . 202 Western National Rank - RAILROAD- BONDS. Alsbama Midland 5a. IOCS 13 f U cons. 4. OS's ... A. C. U of Conn. etfs. S-2as. 91 r. rvsl Jt Iran Rr. Ob. 1st 4s ICO 191 Florida Penlnlulsr eons. 5. 1US . I'eorgia A. Alabama cons. 5a. ...... .. 1C4 : I'eorgis Csro. & North. 1st Ss IMS K iKvrgia X. Florida 5" ..-. . (4 Vew Oilesns A Crest North. 5s New Orleans. Mob k Chk- 5s K t Norfolk k Atlantic Term 5 . Pttersburg 5s. Class A brahoard 4s (stasnred........ ::::: i Western North. Cam. onoa. (a ......... IMS Wilmington k Wrldon Gold '6s. MS RAILROAD STOCKS Atlantic Cnat Line of Cons 3 feaboard A. L. em. D United Railways Arr2rrtnc Cb SS Western Maryland Railway. 41 STREET RAILWAY BONDS. Anaeostia, & rotomae Ry. Sa .. ....v.. 9SS Anaoostla k. Fotomse ltd. 1004 Chaa. City Ry. 1st Sa: Chicago J railways Sa......... ........ M0VI City as Suburban 1st OS......-...-. IMS City k Suburban (Wash.) 1st 6s........ IKS MetrepoUUn (Wash.) 1st Ss...... ........ 104S Krwrort News t Old rotat 1st Ss....... M ' Portland Ry. Sa. ..... 1. WIS United Rys. 4 Elec 1st. (a. .- S(S United Rys. ab Elec. inc. 4s.. .....c.... (X. Wash,, Balto. k Armsp. It....... ....... 87S BONDINO'COMPASIES. C. S. Fidelity k Guaranty Co Ml TRUST COMPANIES. Baltimore Trust Co..,.. Continental Trust Co 37 Fidelity Tout Co. . 2 Mercantile Trust Co...., 15 Munsey Trust Co. J. V MISCELLANEOUS. Bsltimore Electric pfd.........t . ... Baltimore Electric 6s SOS Canton Ccanpany. ..13S Cotton Duck us. Ttj'o Dariaon Cbemlral (a ..... German Fire Ina. Co 1' G.-B.-S. Brew, com 3 O .B.-S. Brew. 1st vs U O.-B.S. Brew. Inc. 6s. 8 Houston Oil com tr. rtfl . It Hoaston'On dir. ctfs 80S M. A- M. Trans. Co. (V. T.) I'cnna. Water at rower 5s J2S United Bee 1st coni. 4Ss 93 MINING Alabama coos. C k I. Ss - Cons. Coal Co... 100 Jamison c k X Geo. Co. Ss -,NEW YORK PRODUCL New York-, Feb. I-MILLTEED-Steidj; trade U slow. Sprlnc bran. 2X03; stsndsrd mlddliurj. S.0O; Western red doc 28.75: winter wheat. In naVround sacks, to arrlTB. 25 N; dty brsa. in bulk. 23.03. v Kit. luu; ouenngs ngnt. eatem. to arnre. la rilued at about 72S. c. L f.; track and State at 7. RYE rLOUR Business is quiet: priors-are steady: good to choice quoted at 3.604-00. In bands. .BUCKWHEAT FLOUR-Steady; demand Is Isac liTe. Cooiee somrnal at Z5a2C5 for 100 rjoonda. CORNUEAL-Steady; dealings sre Inartlre. KUn dried, new, for "expott, 3.10S3.15; coarse meal, la bags. L3 for M and LHaLlS for new. UYE ReoSpta, trf tons: weak; dealings lifeless. No. 1 timothy, LCOaLOP,: standard. 95; No. !5a30; No.3. TisiO, STRAW-Becelots, (0 tons; slow; snpply touOl. 1 20.25 f family. SSXkBJO. BEEr rviesoy r surtiies are amau ana rrsae qaiei. Pseket.'Jfjalaa B); family. 14 CCaHOi ; LARlsIlrai: Isartlta Irallnfs. .Prime Western. ' 10(3; refined roatiaert.-HL95: Hotah American. 11.33; refined fltssillsn. in kra. 1-13: beef alearine, : lard Itearlne. quIett.Vnr Yuk..iri CHICAGO GRAIN MARKET. Furnished by W. B. Uibbs k Cb. WHEAT . Opru. High. Low Close. .May - " OS's SS SW4 July- 1S TlS SIS MS CORN- -, May.J,T.'. .- S2S 53S SIS 55VJ Joly - -. ........ SIs J4S 33S 54S t.TS- 1 Jlsr 34 SIS It' 34S July. MS 34S SIS 34S TaAJT TO ISSUE INCOME . TAX PROCLAMATION Officii Ratifications of West Virginia, Delaware, Wyoming, and New Mexico on Way Here. The iiroclamaUrMr' making the "Irt-jmc tax iimendment" a portion of the Consti tution will bf Issued by President Taft nnd pronvjlTOtjd by Secretarj' of State Knox within a fdrtnlsit. accnrdlns to In formation available at the White House last nlsht. As s.v'i as tile official ratifications nf West VI-lnU. Delaware. Wjorrtnc. and Xesv Jlcxico all of which are en route to Washinsron reach the State Departnitrt Secretary Knox' will draw tip the proper proclamation, whlcn will ! signed by the I'realdent, and the sixteenth amend ment will oe added to the Constitution. Te'ertinir infornilns the D partment ot the ratlilcatlnn of tho Income tax meas ure Ir- the four States In nuettlon vvrre received yefterday, auJ. It h expected that trw papers thimselves will arrive vi I thin the week. Secretary Knox ex prcsseil ilils pleasure at the widespread cpproliation which the lnconje tat amendment his icceivfd. and promls-d to do ever thins: possible to expedite the last steps. MAEBUEY GETS JOB. la -Named Counsel to Marlboro .CoontJ Conimlaslonera. Special .0 Tba Wasbington Herskl. Upper Jlarlb-ro. Jld.. I'eb. I t a meetin:; of the count commlsslnncn here to-day I. Knos It:. Jr. recently appointed State Auditor, resigned as eoun- el tij-the iw-rJ. and Osi" Marburj. o' Tiurcl Democratic door leader at ,tn 'SlI irvibn of the LeKislature. was ap pointed to All the vacancy. The commissioners, acting; with the road directors a a special coniinlsilon on the Queens Cliupel and Rlssa roads in Chlllum DUtrlct. appointed n eon-inla-slop conised of President William F Holmead. of tie county commissioners, and Engineer I 1. Dent, of the roal directors Messrs Oliv-r S XletzTott nnd Charles (J. Ileitmitl'er were appointed to confer with the State IIIsl.wi ComrmssUn rel ative to the ccntnictton of these roads This mimmlssicn has power to act and will mak. application to the Ftato au tbdritlcs for elthtr a stone or cement road, depending upon the cost. HEIRESS VISITS CANAL. 3Ilaa Dorothy flatenian llakea Trip to niar Dltrh srlth Father. NewiKirt. R. I. Keb. 4. Mls Dorothy Bateman. of Neuport. who was willed SoOOlOOp by the late Ross R. Winans, of Raltimore, because she brought sunshine Into his life while Sir. Winans was a tenant of the Bateman place In New port, Is vlsttlng- the Panama Canal with her father. Miss Rateman later In the 3 ear. will make an automobile trip to California, colni; from Newport to San Francisco by easy stages accompanied by her par ents and brother The little heiress is very prttj. pteii didly educated and sings well. She will be a sreat catch for some joung min. who will be an American, for Mls Bateman. according to her friends has stated'when I marry it will be to an American with brains, whether he has money or not." BIVERDALE LOSES SUIT. Court Derides School xhall ol lie Dntlt There at State Kxpenae. Special to The Waolnjton Uerald. Upper Marlboro. Md , Keb 4 Judge Fllmore Bell. In the Circuit Court here to-day. denied the application for a writ of mandamus filed by the board of school trustees at Brentwood. Prince George County, which "sought to compel the county school board 10 Issue bonds In the sum of JliCW for the purpose of erect ing a schoolhouse In Illverdale. and an addition to the school In Brentwood L'nder an act of the legislature, session KIZ. a bin authorized the Issuance or these bonds, but the school commission ers declined to comply with the law. con tending that the school fund would not permit the floating of the debt. The trustees at Brentwood contended that the act was mandatory. Judge Bell to-day took the commis sioners' view of the act, and dismissed the writ. MlnUter Calhoun to lletnrnf Chicago, Feb. 4. It was reported here, to-day that William Calhoun. United States Minister to China, will leave rekln In a few days for the United States on a furlough. .At the law office of Calhoun. Ljford & Shcehan. of which Minister Calhoun Is a member. It was stated that It was unlikely that he would return to the Orient. For several months he Is said to have been homesick and dissatisfied with his surroundings. Cal houn will start for the United States February 9. , ABE MABTIN SAYS: A new broom misses th' corners. Hon. ex-Editur Cale Fluhart ad dressed th' Civil Sen-ice League at Melodeon Hall last night. Sub ject: "What Shall We Do with Our ex-Pustmastersr", Get in the game. The Advocate's last ana best special Award is a S7S0 Conover Baby Grand Piano, purchased from Percy S. Foster. 1230 a Street Northwest, FINANCIAL CAPITAL,.. .......... .ORXS..i.. ......... RESOURCES OVER... ... SXOOQJOs' ... t14.taa.s01 Jhose Desiring a Strong Bank whose service and poli ciei have always met every requirement of the most careful depositors, are in vited to become identified with this bank. A Special Feature of our service is found in the excellent opportunities offered depositors for mak ing HIGH. CLASS INVEST 'MENTS. "Travelers' Checks, Let ters of Credit and Foreign Drafts issued. The Riggs NATIONAL BANK rE.N. ave.. opr. n. a. tbeasobx. YOUR WILL DRAWN FREE of charge, by a competent attornej, and safeguarded in our vaults when this com panv is named Executor or Trustee. XsTIf desired our wife may be Co-Kxecutor. the company reliev ing her of the legal, accounting and other difficult details. The Washington Loan and Trust Company. Cor. 9th and F Sts. JOI1N JOT EDSO.V. President. Crane, lfarris 8c Co. 604 14th St. N. W. Washington. D. C- Municipal Bonds Railroad and for Public Utility Tnvestmcnt American Tele phone and Telegraph. Chicago. Milvvau fcee and St PauL Baltimore & Ohio Norfolk & Western. "Rights" Bought and Sold The Safest Investments Asa tnoss tfcst do not finetoate acrl&s das. torbed conditions of tha mocer or stock nsar leta, First deed of trust notes ISrst nseet. fsfts), sren second on resl estata in tha Dbs trhrt of Colnmtaa, oocstitnta "cUt-edta in reatnenta. They do sot depend open tha financial responslMlitr of lndlsslusls or cor porations fee tbelr stafeilitr. sod ara exempt from taxation ss personal property. Wo am sopplr ooch InTestmests in amounts front SSst cpsfsrd. Bend far tsxxlrt, Ozccndz( Lotas sad Imeatmecl Swartzell, Rheem & Hensey Co.. TS! ISth Street Northsreat. W. B. Hibbs & Co. esr Tork Stoek Exenansa. Wasblnstorj Stock HxebaEfS. Cblcaao Soard of Trade. LOCAI- SECURITIES bought and sold on same favorable, terms as we offer for trading In New Tork stocks and bonds. Hibbs Building Established UTS. TaL. North lilt. S.H.HINES&SON lidertikers, EnWIiMtiirt. Fyura! lireclirs 1715 14th Street N.W. Prices and Terms Mads for Lota af Burial Slta. Washington. D. C PhtUdalphla, Pa. Cemetery Ziotm Bought. Sold, ana OEachanged. Cremation ArransrasS. Itst Service fiiaraiteei. All kinds of wood, cloth, and xnatal casksta furnished at modtrau prleea. S. C. Palmer & Co. 1066 Wisconsin Ave. W. 190 We siTe Herald SZUKM contest to tern. Special Jordan and OQA CfcettbtsAlHMnds,.... v9C These delicious Candlcjwlll pleas the most fastidious tastes. COKINOS BROS. 'K5S U St. N. K. SSI 9th St. N. -VT. tr drink urxj k Wo ctro Bczmla taM A , .1 , R5-.VW. tVJ J-'.. tM.4 -. .vi " . 4Q- aataa -.- - t-.-- , --