The sun., 1912-07-04
GOSSIP OF WALL STREET.

ysvs, daily letters Of the brokerage houses
that part Of Wall street approved OF the
news received on Tuesday from baltimore
from speculative point Of view. ~ any
rate a canvass Of these letters revealed the !
fact that the iarge majority of the wan
street brokerage houses are "o'lm's'"
with regard to the future OF the stock mar
ket. one stated natly: We are confident !
that n hull market will prevail during the
next sixty days: another. more cautious In
it's mode of expression. believes that pn'-
chases on fair opportunity arising from
trading concessions In prices viii continue
to prove profitable" and third looks LOT
"A broader higher market and advises
purchases Of stocks stu another Is of
the opinion that within the next month
more definite line on the political SITUATION
can be l,ad and the attitude of large fnancia'
interests regarding the Presidential candi-
dates will have "a large bearing upon the
market"
Yesterday for the hrst time in long
period the foreign business in this market
reached considerable proportions. curt
ously enough almost all the business was
in one stock, United States Steel common.
London being credited with the purcha ~
of 10 uOO shares. In the recent past dealings
in American stocks on the London curb.
that is. by the stock Exchange members
who remain in the city until the close oi
the New York stock Exchange. which Ii
g p, ~. English time. has dWindled to moth
ing. Few brokers indeed took the trouble
TO stay in tho city for the insignificant
volume OF business that developed
The American Tobscco common stock
holders who have been waiting patiently
for sone sort Of extra dividend distrtbution
out Of the large accumulated surplus OF the
cCmpsny. TO make up for the Passing of the
dividend last fall pending disintegration.
we're again disappointed yesterday when
no action Of the kind was taken at the meet
ing Of the directors. Yesterday the stock
sold at 3Os which compared with a2tH
touched on Monday One version OF 'he
rumor about an extra dividend OF some
kind which was in circulation WAS tnat this
would assume the form of further dis
tribution Of stock Of the subsidiary conf
panjes which the American Tobacco Com
pany still holds In ts treasury. For this
| reason IL was argued that the Tobacco
common stock should svmpathize with any
rise in tho price of the subsidiaries. Yes
/ tsrday these shares were also considerably
below their recent hieh level
/ The regular monthly meeting OF the Cop
ner Producers Association. which III ue
ordinary course OF events would be heio
ue,t Monday. will he put on until the follow
! ux day on a account Of the holiday THIS week
The Delaware and Huds0n's report FOR
Nsy. published Yesterday. made hotter
showing for that month than any oI 'he
; other anthracite roads that have reported
The statement exhibited cohs'dcrabl'
reroyary from the extremely unfaNorahir
state OF business testified to hy tie April
report, whereas the statements of many III
the anthracite roads for May have sho" u
,ou,,nrat,yeIv little lmproN ement over the
.dipg month Tho Delaware and Hud-
SON, gross for MAY dcrreased SJ81 ,UO ana
net decreased sa5: ,GW. IN April gross
de,reas ed SSis ,OOp and net Sisa.cp
| Included in tho heavy budget OF Gro,
news iron, the West was the published
interview with President Win"he,, o1 th'
frisco. Who has just returned from a.
insnc,t ion tour through the Southwest W.
ba, some very optimistic things to sar ~
the rrops in that section OF the country
Ito says. ~ never SAW crops OF III" So'th
, ws.t looking hetter. Corn il mad" "
southern Texas and nearly =" in nor,h"f',
Tcxns and will produce hiY crops in boil
sections o( the state. Oklahoma ha'
/ good crops Of oats and wheat ana rorh u
canning along pi"e,y. cotton " iust aoou
, ready for the market in both ~ 'hos'
|
, ycar WAS shipped from Huv'nger. IeA'
IN ucuston last Tuesday The earning
~ the Frisco arc Frightening ny aud the
. ! .howing for June viii be good, Genera
I husiue.s conditions show material M
movement This I attribute pIinrlPal''
10 the crop outlook in all paris ot 'h'
/. country and In U large measure Ia inan>
ORDER for railway equipment having "ee'
pIa.ed during the last two months '"ch
, orders have had an immediate ehec' -
y increasing sr''Nities ~ n'ee' "''''s' W
mines and sa" n'I's
The banks Yesterday again lost hea'' a.
to the Sub-Treasury ana have los' o
: these operations In the week thus IA
over Si5 mn OoO. Payments tn the 'oNet'
ment at the close of the fiscal year ar
heavy, but II 10 argued IN some quarter
!, that not all of this loss il on this sce"hn'
! hm, rcnrcscnts tho increasing activity %
, bu.inee, in general lines, The fncili'ie
an ortied by the Sub-Treasury for th
;, transfer Of funds are being aNaiied OF T.
: supuiy the other large centres that ar
in need of more money 10 support the III
crensinv demands of trade, Moreover.
ia only a few weeks now before the usna
!. noy emcnt Of currency from This city take
place 10 lake caro- of the country crops
Standard Oi, OF Now Work has scored
tional advance latel, but II has bee
done 10 quietly az 10 excite little sttentto
outside OF the small number of outsid
4 brokers whO attend to the market in III
stock. ON Monday tho stock sold at a.
and on Tuesday took y sudden jump
<75 on email transactions ~ this pr'
tho stock was more than I'm points highe
than the level Of siA months ago. o.when II w
selling around asO, A div ihend Of ~ pc
! cent was paid in December. 1911, and al
other Of per cent. In June.
A directors meeting held early this &C
, VAS precetted by rumovs that the Standai
Ion of New York would incrsas" Ns cspii'
! lstocs ~ other former subsidiaries Of III
y, ,Rndsvd on have done since the diSsol,
l tion OF the trust. III" present capitalize
ion Of the company il e'6.N0. .0ob ana II
story is that this will he Increased Ia eSu, ,0m
= OOu or SUo, ,HW,W ,W1. when no annOuncen"'
4 WAS made Of this kind the delay was e.
y plained that the direct orr desired TO Opera'
n fhe company As n sepsrat" entity Tor n ~
l. year before making any, changes.
the hrst 0f the year the conpany had assc
or Sn2 inn, ,isn VI which S?1. .t:s. .GOp con sikts
)Of cash and bhls TcCciyRble and 1884. IN
4 In stocks and bonds.
v the " an N,Tcet cdiiion VI Ths tssAisu y,
IN c0nlains all The nnanriAl news anu the stock ~
a bond Quo tAtions 10 the vlOse NJ The maket, VI