The Washington herald., 1912-12-03
WALL STREET GOSSIP

Favorable railroad earnings statements
now coming out are reported to be slim
ulating investment tendencies in the
East.
We anticipate favorable financing an
nouncement to be made this week in
Rubber circles.
Odd lot buying is expected to continue
to expand materially during the next
few weeks. The tendency seems to be
toward the rails.
It is reported there win be no more
important calling of loans in the near
future.
Important sources call attention TO the
fact that Union. AtchIson. and Southern
Pacific are earning considerably more
than dividend requirements, return much
more than per cent on the investment,
and have a good speculative outlook.
Morgan source says IL the foreign
situation clears there will probably be
Inauguration Of Wilson.
It is expected In financial circles that
railroads earnings will continue to in
crease for several months on the ton
mage in sight.
Missouri, Kansas and Texas October
operating revenue increase, $S7e,sSo. Total
net increase, SS54.Sst-
Chesapeake & Ohio for October oper-
ating revenue increase, SlT,sS1.' Net
operating revenue increase, $i25,lss.
Miami Copper Company November pro-
duction was 2,2s7,OJ0 pounds compared
with 2,0s7,75O pounds in october; 2,s4s.l5O
pounds in September. and SO46'7So POUNDS
in August.
St. Paul October net operating revenue
increase, S,IOs.s29 Operating income in
crease. sSn.s4O Puget Sound October
operating revenue increase, $Ss2, 6S3. OPP
rating income increase, $S6s,lS.
New York Central. all lines. October
operating revenue increase. $3,4sl,S s4; OPP
Grating income increase. H,Ss3,9O2.
In the case involving the liability Of
the government for use of pneumatic
service the court decides in favor Of the
government.
ST, Louis. Iron Mountain and Southern
Railway Company October total operat-
ing revenue increase. s26s.6sS; gross in
come increase, SlOO.s15; net income in
crease, S9,sSS.
Henry L. Doherty & Co. have pur-
chased the outstanding common stock
Of the ST. Joseph Railway, Light, Heat
and Power Company, on the basis OF
$50 per share This offer 10 made to all
holders Of the stock, and providing the
firm mentioned above obtains the entire
s.. so. 900 common stock outstanding. the
cost will be $4,000. II has not been
definitely decided which one Of the Do
hertv holding companies will take over
the st. Joseph property, although there
is a possibility of its being acquired by
the Cities Service Company.
Pennsylvania system in october shows
net after taxes of Ss.133,o47. against 81
SIS, 396 a year ago: for ten months ended
October 81 total net after taxes is So
1lo.SS9. compared with $64,24s,11O same
period last year.
The fact that New York has been able
to obtain 100000 gold in London for
import is the most significant indication
vet afforded of an improvement in the
European political situation. Had the
tension not been relaxed the European
bankers could not AFFORD to let 70 much
gold come here, and the only etfect OF
a bid from New York would have been
an advance in the price of the metal to
a prohibitive point The war news from
the European capitals has not been
trustworthy, but in the arrangements to
import gold, New York is given the sign
which may be regarded as practically
infallible.
Yukon Gold declared regular quarter
~ dividend of 1-2 per cent, payable De- |
cember 81. Books close December Is, re-
open December IS; for annual meeting |
books close December "a, reopen Janu- |
airy II.
BrItish-American Tobacco Company has |
declared an interim dividend of 6 per
cent, payable January on the ordinary |
shares. |
Kuhn. Loeb Co. have engaged $780,
900 gold for import
From the class Of buying seen on the |
break the market will do better.
London copper market strong up lis
from Fridays closing.
Strength at opening was due to higher |
foreign prices and some commission |
houses buying on rumors that a favor |
able decision in rate case may be ex-
pected to-day. Traders are buy ing and |
II looks as II some good selling is in |
progress. 1t Is not believed market |
will work out Of this rut Just yet and on |
further strength will be selling for a |
turn.
The, Northern Pacific has placed or
ders for 400 additional freight cars.
Railroads are expected to soon file with
Interstate Commerce Commission appIi-
cation to increase freight rates Strike
OF employees of United States Steel Cor
poration IN Pittsburg district will not |
affect company's earnings to any great
extent.
Look for announcement of big i'm
portstions of gold to-day. May get TO-
100000 within next two weeks.
Missouri Pacific System October gross
increase s5ss,s4; net increase, S4o2,Ss.
HeideIbach IckeIheimer & Co. secured
800 900 gold in London yesterday for ship
nent here.
City Bank is loaning money at. per
cent. Rates have varied between and
10 per cent.
Cotton OIL is being tipped as a second