The Washington herald., 1912-12-18
MARKETS---FINANCE COMMERCE
WALL STREET GOSSIP

Banking interests reported TO be buy
ing good rails on every raid. 1t 10 con-
fidently expected in Washington political
and judicial circles that the Minnesota
rate decision win come at the next meet
ing OF the Supreme Court.
Important buying Of Copper is said to
be occurring II is traced by some brok-
ers to Standard Oil interests and Bos-
ton.
The borrowing demand privately is
very large in Steel. Shelters and Union
Pacific.
Some of the steel mills are reported in
Chicago advices to be sold ahead for
twelve months.
The tariff revision will put the bust
ness of the United States on a sounder
and more natural basis than it has ever
oeen'" says London private cable.
Money is returning to Chicago in
larger volume, but the amount is not up
to the usual figures yet.
A large number of bear stop-loss
orders are reported by specialists to be
just above ruling prices for active lead
ers.
The Chicago, Milwaukee and st. Paul
has placed orders with the Bettendorf
Axle Company for 5000 steel underframes
The Missouri, Kansas and Topeka is re-
ported to have placed contracts for 1900
box and hopper cars. and the New York
Central is stated to have ordered 1000
gondolas from the American Car and
Foundry Company. The Delaware. Lack
awanna and Western has recently sent
out an inquiry for thirty-five steel pas
senger cars.
The American Telephone and Telegraph
Company declared regular quarterly divi.
dend Of per cent.
The Central Trust Company of New
York declared a quarterly dividend OF .
per cent and an extra dividend OF per
cent.
The International Nickel Company has
declared a dividend OF 2I-2 per cent on
its common stock. This is an increase Of
one-half of l per cent over the rate paid
oy the company three months ago. The
usual quarterly dividend of I-2 per cent
on preferred was also declared.
The Loose-wiles has declared the
usual quarterly dividends of 1874 psr
cent on each Of its first and second pre-
ferred stock.
The price Of structural and boiler
rivets has been advanced 81 a ton by
makers. This makes structural riyets
SD per 100 pounds and boiler rivets g. 90
per 100 pounds
Everybody is watching Southern Pa
cifc. Twenty-Five hundred shares wanted
at log. Every one thinks IL will break
through 1o6 II II does they think the
market will sell on.
Congressman Underwood. Democratic
House floor leader, declared at a BAN
quet Monday night that the success of
WILSON, administration would depend on
events OF the next six months. II was
not an assured success in advance This
expression is taken as referring TO his
position on the tariff
Sub-Treasury gained H,as2,Oo from
the banks yesterday. and since Friday
has lost $4,000 to the banks.
Housman says Reading ought to he a
great big buy. Can stocks have a very thin
market but specialists think thew are
selling below their real value, and are
cheap. He does not mean by this that
they may not so lower.
The Southern Pacific is repor,ed n
have placed orders for 10000 tons Of i
rails. This. together with the recent |
purchases Of the Union Pacific. brings
the total taken by the Hartman lines
to nearly 10000 tons.
La Rose Consolidated Mines Comma nv
has declared the regular quarterly divi-
dend of 21-e per cent, and an extra diyI-
dend OF liz per cent.
slade & Simmons-It looks to US as ifl
We were bound to see a very irregular
market for the present. and feel. how
ever. It Is in a stronger position as the
result OF all this liquidation. and accord
lhgy' we are inclined to pick up stocks
from this level on all weakness
To get in ahead Of the bond taxing
amendment in Ohio, which
goes into effect January l, over 5000.
20 municipal bonds will be sold this
month. Effect of the taxation clause
will be to make borrowing more expen-
sive to the municipalities. Cleveland
will contribute $4,000 Of the offering.
Important railway financing is expect-
ID to be announced next month. II is
said Baltimore and Ohio. New York Cen
raj, and Pennsylvania are in line for
lction In this respect. The financing Is
planned to take advantage of expectedf
money market ease in January. II had
been held up waiting to see whether or
lot there would have TO be segregation
~ the coal lines.
Boston-shannon Copper Compauy de-
Jared a dividend of 50 per cent, pay
lble January 90. hast previous dividend |
vas so cents, paid October /.
In high grade quarters that have ex-
,eIlent sources of information, Il is
Itated a canvass Of conditions indicate
hat good business will continue through
tut the country during January.
1t is reported a series of extra diyi-
lends will be declared by Reading In
Il the Supreme Court did not order seq
egation Hidden assets will be grad
laIly distributed, 1t Is said.
Unusual significance attaches to the
that Chino, by reason OF
Mill efficiency. will be able to treat at
. profit a large amount of low-grade ore
which has previously been looked upon
s waste. without additional develop
nent work, therefore, Chino's ore re-
d11Irad of M aoa