Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-05-26
Standard Oils Activity.

StdnudEQ I'll lutcIcSlS al e CoiAhO1is SNF
posed to be infexibly opposed to the
Roosevelt recrudescence. Gossip attributes
recent profit taking and distribution to
Standard Oil activity-not Standard Oil as
a corporation, but to interests affiliated
with the powerful combination. The mag
zeal name of John d. Rockefeller Is men
toned not infrequently as the original
source Of supply. Nothing has yet trans
pired to indicate real excitement at head
quarters" Discussing John DIS pecullari-
ties, stock market historians recall occa-
sions when the great financier has deluged
the exchange with offerings day AFTER Gay,
week after week and month after month.
as in 1861, and bought on the same scale.
Convincing details to prove latest theo-
res are lacking, but collateral facts are
often given to form a basis for interest
ing romances. at least. Such stories per-
sistently repeated by and by take on the
color of veracious history. Anyhow. II is
not violent assumption to credit reports
OF Standard Oil opposition, both covert
and open, TO Roosevelt's return to place
of power. He was thorn in the side OF
the octopus for many long years. me
writer has small faith in the gossip about
present or impending crushing activity
of Standard Oil origin or inspiration. IL
is only mentioned here as a piece of per-
sistent gossip. A dull market some
times furnishes excuse for weird crSa-
tions almost too foolish for mention. YET
on the ip of many tongues, ana therefore
a part of the record.
The street distrusts United States Rub
ber despite its mastery market manage
ment. The stock was doomed eighteen
points as a preliminary 10 the sprlnSlES
of a grand scheme of financing that was
TO make everybody rich. The publicity
machinery was worked overtime Tor
weeks and traders were aroused 10
high pitch of excitement Dealings were
manipulated into large figures and stories
in circulation about fortunes
made by the bulls. and lost by skeptical
and reckless bears. The details OF the
wonderful plan We're published early TINS
week and the price rushed up seVeral
additional points Then the bottom fell
out and the stock slumped. The scheme
for initiating the share capital from 49,
go. 600 to $3.50, 100000 and getting the
public to contribute 100000 or Slo,OOO.-
dpn 10 meet competition" did not make
a hit. especially as there IS $2o,COO,OO
bonded debt ahead of the stock, and as
the company is admittedly uncertain In
the matter of earnings. Thus far quota
, tions have been held fairly well at only
moderate recession from the higher level.
but a discriminating public has gone into
other things.
Magnitude Of Foreign Trade.
Much has been said about the mag
| nitude of our foreign trade. The esti-
| mated totals for the fiscal year are
| certainly impressive. An aggregate OF
/ S3.S0O OOO, 600 exports and imports with
a balance of 5000, 900. 600 in favor of
| the United States are figures two large
for easy comprehension. All records
are being broken and the tide of in
| ternational traffic is still rising. The
danger is that the old world Will pay
the balance by reselling US IT securi-
| ties.
| It has been rough sailing for many
/ of the cats" and dogs into which
manipulated speculation spirit was in
i iected toward the tall end of the big
inward movement that climaxed a lit
! tie while ago. Several os the bob tail
pools that were responsible for the
| boomlets in the orphan things made
| neat profits. but most of them over
| stayed the market and are hung up
/ with more stocks than they had at the
/ beginning-stocks they took on the
/ rise In order TO hold up the market, and
| unload on the public at altitudinous
4 quotations. The old-time angel pub
/ lie has disappeared, forever, 1t Is 10
| be hoped 1t has become wise 10 the
/ wiles of the market juggler.
The street has hardly awakened as
| yet to the crop progress. That is
| largely because spring has been so late
| in the New York vicinity that people
| hereabouts hardly realize that aSri-
culture can be making Roadway any
| where.