The Washington herald., 1912-12-31
Observation-Disclosures
WALL STREET GOSSIP

| 1t is reported an announcement may
be made soon that will operate very
much in favor of stock exchange specu-
lative interests.
Several of the largest operators do not
intend to take any aggressive stock mar
ket action until after New Years.
The Missouri Pacific net earnings for
the current fiscal year are now estimated
as likely to approximate $i.5o0.OOO more
than last year.
The holiday spirit will soon lose its
influence, and the stock market may be
1 expected to improve slowly says a
prominent Western speculative source.
American Locomotive preferred Is re-
ported earning 20 per cent. and General
Electric II per cent, and both likely to
be benefited by the tariff revision.
1t is rumored that bills will be intro
duced in Congress the latter part OF the
current week looking to the incorporation
of the Stock Exchange and making II
! subordinate to the Interstate Commerce
Commission.
General Electric is scheduled to sell
'ex'' 80 per cent Tuesday. Certain for
eign interests are expected to buy 1t.
All departments except the finishing
American Sheet and Tin Plate Company
at McKeesport will close down tomorrow
night for an indefinite period, because of
the shortage of crude steel
Illinois Central. November: Total reve-
nue. increase s6Of,6 sol: net revenue in
crease, S5S..9s7.
Erie Railroad. November: Gross reve-
nue. increase. S4l,5Jl; operating income
increase. s24.239
Canadian Pacific. November: Gross in
crease. H,Tsl,91l; net profits increase.
SIC, 800.
Paris obtained in London 10000 and
India c1OO,OoO Of the fl.2JG.COO Of South
African gold available in the open mar
ket yesterday. The disposition Of the re-
malnder is uncertain.
The question of demanding wage in
creases for all railroad employees on lines
in the Eastern Association. which in
cludes territory east Of Chicago and
north of the Ohio and Potomac Rivers
was dicussed at an important union meet
in Pittsburg Sunday.
Organizations represented were the
brotherhood of Locomotive Firemen and
Enginemen' the Order Of Railway Train
men and Conductors, and Brotherhood of
Railroad Trainmen. The three unions
represent approximately 1000 men.
United States Circuit Judges Warning
l.
at Columbus. Ohio. yesterday afternoon
decision in the case of the government
against the Lake Shore, Michigan South
ern' the Chesapeake and Ohio. the Hook
ing valley, the Toledo and Ohio Central,
the hanawha and Michigan. the Zanes-
vile and Western, the Sunday Creek
Coal Company the Continental Coal
company, and the Kanawha and Hook
ing Coal and Coke Company in favor of
the government. declaring the roads
guilty OF restraint OF trade in violation
of the Sherman law.
Missouri Pacific November gross oper-
ating revenue increase. $40 $50; operating
expenses increase. s3S3.1ss: net operating
revenue increase. s2J7,e93.
Northern Pacific November gross in
crease, H,@79,611;net increase, s6f25S3,
MoIer-The money situation here will
require such delicate handling TODAY
while the banks and trust companies are
financing the year-end settlements, that |
traolng Is likely TO be along the same |
lines as during the closing DAYS Of las,
week, with the tendency OF prices rather
generally dull and Raging one, owing |
to the exigencies of the money situation,
perhaps, forcing some further scattered
liquidation. In the meantime the speech
or Mr.. Wilson on the general political
situation Saturday, is being very adverse
ly commented on, in connection with
the views expressed in his articles in the |
Worlds Work, as indicating a far less
conservative attitude than was discuss
ed before and Immediately after the cleo
ton:
The only good feature to this market
is that you can't find a bull this side of
Fourteenth Street.
There is no change in the situation. and
nothing has occurred to make us change
OUT opinion that We are at present in
bear market, and when the market
levels.
continuing on his remarks in January's
Worlds Work. Mr.. Wilson'S speech in
Staunton Saturday was certainly on
radical lines, and will tend to keen
prospective buyers away and give the
bears little more hammering power
Attorney General wickersham's change 4
OF front is a little better for the wound
ed, but it almost comes too late.
Railroad earnings continue TO show
net increases, with many of
ne more important lines making new
hgh records in the months Of October
Lnd November. as in the case Of ST. Paul
and other lines. Traffic in sight assures
the continuation of tonnage far into the
new year and makes the situation contrast
trongly With that which existed a year
go. Then the outlook for a maintenance
4 dividends was so uncertain that IL was
cared reductions would be in order on
Iearly all the important issues The year
assed, however. with only one company.
Il. Paul. reducing its dividend rate, but
ince the beginning Of the new fiscal /
ear the earnings of that company have
assed all others in proportion OF in
reases and now range at equal to Is per (
ent on the common stock. In each one :
several months past the earnings were !
anger than they had been in the entire |
ear ended June 30 last. II will be easy
or the st. Paul company to restore its
er cent rate at its meeting next month, !
ut no intimations are heard that the !
has such an intention. The
ividend prospect will, of course be maj
erially frightened If, as is expected, the
rate case is favorabIy decided
y the United States Supreme Court. This
'ould leave the Interstate Commerce