Newspaper Page Text
- --"r5?PM '"'VSS
THE WAStof GTON HERALD, WEDNESDAY, FEBRUARY. 5, 1913.
- Z - - 1 .
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
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
Yesterday's transactions were limited,
but Ix-fore another week passes there
hould be a .good movement and at high
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
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..
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
K an) crook tries a local institution
these dajs, a Savage will bark, and right
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
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,
,,, 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
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
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
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
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
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
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
1 131', 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
. v.', 33. i.
MH H MV
2H)--m ZSf, U
3S S" S
.73 78 7S
. 17 1A K
lit', 113H 1134
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 .
104 Aveta Realtr Co. .
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
40 'S iS
:is as 31S
ISVa II', IIS
S Detroit United It R
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 .
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
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.....
103 N T., C. A St. IV....
310 N Y . O. i W...,
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....,
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.
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
100 Texas & Paclse.
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
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
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
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
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
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
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
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
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
NEW YORK CURB STOCKS.
.New Tort Fro t. "To-day'i impcrtArit curt) quo
Utlou venr as follow
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
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
.New Tork Kcb I -Orxirr quotations of miscel
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.
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
Famished by N. IV. Carpenter & Co.
New Tork. Feb. 4
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
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
- rumlshtd b VT. B. Bibbs On,
PORK- . Open. BIch. nw. rjoae.
' Msy. 1130 HC 12 U.O
juir. . i" nj 13,23 nzi
May......... ..10JI1 103S 1&2? 1023
Jnlr....................... 10JS 10.37 10.S 1037
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.
" tirJtsl Trsrtlon. 10' st 121.
Wahtnston RsHsisy k Meclric U. l 000 at M'i,
HS20 at C4S.
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
Geortxtosm, Ru eert. lnd. Ss... 1(3
Georgetown Gas fa.... IB)
Washinrton Gas U 110 "" IMS
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
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
Greene Csnsnea........... 8S
NATIONAL BAMC STOCKS.
Commercial .. .. 301
Farmers A. Mechanics. 250
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 ., !
TITLE INSURANCE STOCKS
Colombia .. (S
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
Kubnnla . .
talumet & Arisnna
alumet it Ifrcla
tiki Dfimtuion . ...
tMincy . - -
I Uh Con-obVlated
V let oris
BALTIMORE STOCK MARKET.
Jlsrjland 4s 193 . .. . 9S,i .
BVLTIMORE CITY STOCKS.
Baltimore City 5s, 19W .. . IOC".
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;
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 -
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........
Western North. Cam. onoa. (a ......... IMS
Wilmington k Wrldon Gold '6s. MS
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
C. S. Fidelity k Guaranty Co Ml
Baltimore Trust Co..,..
Continental Trust Co 37
Fidelity Tout Co. . 2
Mercantile Trust Co...., 15
Munsey Trust Co. J. V
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
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;
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
May.J,T.'. .- S2S 53S SIS 55VJ
Joly - -. ........ SIs J4S 33S 54S
Jlsr 34 SIS It' 34S
July. MS 34S SIS 34S
TaAJT TO ISSUE INCOME .
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
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
MAEBUEY GETS JOB.
la -Named Counsel to Marlboro
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
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
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
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
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
Jhose Desiring a
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
rE.N. ave.. opr. n. a. tbeasobx.
of charge, by a competent
attornej, and safeguarded in
our vaults when this com
panv is named Executor or
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-
Railroad and for
Public Utility Tnvestmcnt
fcee and St PauL
Baltimore & Ohio
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
Swartzell, Rheem &
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.
Established UTS. TaL. North lilt.
1715 14th Street N.W.
Prices and Terms Mads for Lota af
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
S. C. Palmer & Co.
1066 Wisconsin Ave. W. 190
We siTe Herald SZUKM contest to tern.
Special Jordan and OQA
These delicious Candlcjwlll pleas
the most fastidious tastes.
'K5S U St. N. K. SSI 9th St. N. -VT.
tr drink urxj k
Wo ctro Bczmla taM
tM.4 -. .vi "
4Q- aataa -.- -
t-.-- , --