The Washington herald., 1912-10-31
MARKETS. llAV COMNER RCE

1E--lC1
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WALL STREET GOSSIP
Invsstigations fan to coufrm rumora
Of serious trouble in the American side
Of the stock martet.
Private borrowing Of STOCKS b large.
but the foreign supply has been sulncisnt
to take care Of II without trouble thus
far,
Bargain hunters are in the street again
and may Be expected to buy high grads
preferred stocks and seasoned dividend
paying railroads.
A block Of Steel 10 said to have bssn
privately Transferred from bob-tail
pool to Morgan interests in the last
few days.
We understand khs buying Of the Trac-
ton stocks u for important accounts.
Professional uptown operators are re-
ported heavily short Of Steel Reading
and Union. They are borrowing privately
on . fairly large scale.
There has been some Liquidation in
low-priced stocks by Europe. These
stocks were bought for . long pull. but
had to be sacrificed to care for home
commitments.
Chicago-ws hear that Snow II going
to put out . report on corn to-day or
Northern Pacinc-september net earn
inss. increase. $lso.eU.
A dividend Of Is per share has been
declared BY the Standard OIL Of Ohio.
The market is not a. weak ~ it looks.
The selling looks to be all cleaned up.
Investigations Of certain reports indl-
cate there 10 again institutional buying
in the stock market. Corporations with
funds are said to be purchasing high
class railroads. :
Reports show larger support on de-
clines. There IL Q tendency to look for
good buying opportunities now on the
recessions.
Banking interests here after canvass
ing the Western crop situation with Chi
cago bankers. say there 10 little Mkeli-
hood that there will be any stringency of
serious character in money rates this
year. The fall in prices Of stocks and
the European Liquidation Of an inflated
speculative condition. are said to have
been material aids in warding OF ex-
pected stringency.
Southern Railway for September net
income. $A.0H. July ], total income.
$164. 3es.
There was a large supporting order in
Steel at 74h. which was Withdrawn.
The traders got wise to It and pushed
1t down.
Heavy volume of selling met With on
opening advance gave market a reaction
AIRY tendency and at the end Of the first
half hour the enthusiasm had evaporated.
The belief prevailed in some quarters
that large interests were distributing
stocks.
Alfred Smith and Alexander Roller,
OF London. have failed. Their ouo-
standing accounts are moderate in size
The stock market again to-day was SUBJ
jected to severe pressure. representing
some foreign selling and domestic liqui-
dation and short selling. During the
rather readily to this selling, new low
records for the movement being made in
many Of the active issues. Upon the
of the selling. however, a higher
level Of prices was readily established
and many of the standard issues closed
well above last nights figures. This
marked irregularity is to be looked for
with election day 50 near: In fact, itI
seemed to be politics rather than for
eign unsettlement that was being used
to-day in connection with the depres-
sion in prices. We continue to advo-
cate conservatism in commitments pend
ing a clearer outlook at home and abroad
and would only buy on such setbacks
~ developed to-day. in the standard is
sues and for tuns.\
has declared an initial quarterly divi-
dend Of 3 per cent on the common stockHi
A dividend of S per share has been
declared by the Standard OIL Company
OF Ohio out Of the earnings of the last
six months This 10 the first dividend !
announced by this COMPANY since the |
Standard OIL dissolution.
Rock Island lines September operating |
revenue increase $4OSf1s Totaf net reve-
nue. increase. $28.570 Operating income /
increase, 6,7eO.
New York steel jobbers have advanced |
the price Of steel shafting s per ton, |
effective At once. It IL said that steel |
mills in Pittsburg making steel shaft
Ing will advance their price g per ton /
within the next two weeks.
Earnings Of Northern Pacific Septem-
Der net income. $4,000; for three months
$751;
Pittsburg-The New York Central
system has just closed an order for
sN coaches which will involve an expen-
diture Of approximately 5000, ,OO0 The
order is divided among a number Of
builders.
l. J. Spence. director Of traflc of the
Hartman lines, who has just returned
10 this city from an inspection trip Of
SAYINGS BANK
The following statement shows tn,
June IA. 1912. number Of depositors. aggl