The Washington herald., 1912-08-02
sEAGIRT NEWS
BULLS MARKET
Advance Information About Will
sons Speech Causes Big
Interests to Buy.
HARVESTER STOCK BALLOONS
HARVESTER STOCK BALLOONS
By BARRON SERVICE.

New York. Aug. 1.-The market opened
stronger and more active than II has
been in several weeks. with buying oy
large interests apparently in progress.
One of the strongest bullish factors was
advance information that Mr.. wilson
speech of acceptance of the Democrauc
nomination will not contain anything as
radical toward tariff and business issues
as was long feared. Among the strong
est features were International harvest
er and Canadian Pacific.
Canadian Pacific made new high rec
ord, and at one time was up almost an
other five points. but reacted In the
afternoon on prof. taking. International
Harvester advanced three points in the
first hours trading, because of the ter
mination of the voting trust to-day.
Steel common showed a continuation
Of the strength which II gathered from
the publication of the quarterly report
showing earnings higher than the stock
marker had, expected. although not up
10 the expectations of the more optinis-
tic by small margin. Union Pacific
showed early strength which increased
with each sale during the morning.
American Tobacco continued its advance
of Wednesday on the oft-heard rumors
that the large extra dividend which is
surely coming to- stockholders will be
declared this month. Bethlehem Steel
common was one of the strongest special
ties based on its large, earnings. Ma
t'onal Biscuit continued advancing on
the report that the liquidation which
ca used recent losses was all over.
On the outside market, Standard Oil
issues furnished many sensations by ad-
vances of from 5 to 80 points for many
CT the former subsidiaries, while the
"old stock sold at 1870 share, an
other 20 points advance.
trail lines for the first six months of
I9l. were S12S, ,559, SS3 an increase of $751;
as, and the net. sas, s5s.s sls, an increase Of
S5,s24,4H over the same period in 1911.
Earnings Increase.
The Atchison, Topeka and Santa Fe
gross for the year ended June 30, was
slOL 752,3sO. a slight increase, and the net.
SS2, ,272. 7O3, a decrease Of 81. OF. .554 from the
previous year.
The proposed increase in the capital
stock of the Porto Rican American To-
bacco Company from s., 10000 to 5000 900
T7ay never materialize, as the directors
now feel that it might be contrary to the
decree of the Supreme Court, which Or
Gered that none of the twenty-nine de-
PENDANTS in the American Tobacco Com
pany dissolution suit should acquire any
further interests in fourteen corporations
ramed
The American Tobacco Company di-
rectors meet for dividend action August
z. and II is thought that they will order
an extra dividend of about . per cent
TO common shareholders. Taking in7pro-
portionate shares of former subsidiaries
given stockholders under the dissolution
decree, share of old stock of the
American Tobacco Company is now worth
SS3, while the highest price that the Sc
curity ever sold at before dissolution was
$3.50
The total gross receipts of the Penn
sylyania Railroad system for the six
months to June 30 were s170. 21.7l4 an
increase of Sl3.5Oe.OoO as compared with
the first six months of 1911.
The Southern Pipe Line is the first of
the. Standard on former subsidiaries to
increase its dividend rate above that de-
clared on the first payment this year.
having declared a dividend of per cent,
as compared to one of s per cent paid
three months ago.
The Erie Railroad has issued s. 2160, 900
ten-year equipment trust obligations.
The Niagara, Lockport and Ontario
Power Company will sell 100000 first
preferred stock at par TO pay off a like
amount OF > per cent notes which ma
tured June l.