The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-12-13
WALL STREET GOSSIP

| many TepidcllB seSurlueS SOiu~ vi TIC
Balkan scare.
Some of the biggest traders have been
hard hit in the last declines of the stock
market.
The report that the coal decision will
come out on Monday is influencing
traders to hold on buying the anthracite
stocks now.
A block Of Union Patic is rumored to
have been taken over below market
prices by a banking interest Of New
| York.
High-grade investment sources are re-
ported to be preparing for a big demand
In the early part of the coming yeah.
Absorption OF st. Paul is said to be Of
a very good grade. The same may be
said Of Baltimore and Ohio and Atchison.
Paris financial experts are reported in
| private cable as saying that the Ill
effects of the tariff reductions have been
discounted by the security list here.
Government cotton report, 13.s2O,cOo
bales.
These are the opportunities for men
who have patience and money.
| All the professionals have been playing
for and expecting a rally for several
days, and IL is certainly long overdue,
| but when such a burst of liquidation
| takes place as started in Union yester-
/ day, and which continued practically to
| the close. there is no knowing when II
will stop. The rebound. when it comes,
will probably be sharp, but the conf
IL &c 81, hull &c arff T.
tered and permanent upturn need be
looked for for some time. Every indi-
cation goes to show that not only is the
short interest not extended. but that this
short interest has been very largely re-
duced in the last week, as they have
had every opportunity to cover. and as
stated. professionals on the floor have all
covered up and been working for rally.
II is much more difficult to lend stocks
now than il was two weeks ago.
It is impossible yet to say whether the
big liquidation is over or there is any
assurance the market is reaching the
eliminating point on this break. A prop
er explanation OF the Union Pacific mat
ter and also the character OF the deci-
sions which are likely TO come from the
Supreme Court in the anthracite coal
trust or the Minnesota railroad cases on
Monday are necessary before any COM
prehensive opinion Of value can be
formulated on these points From the
character of the gossip after the close
yesterday. and current this morning. the
indications are for another feverish days
trading with very erratic fluctuations.
After the regular monthly meeting OF the
directors OF the Hartman lines Yesterday
morning. several members OF the board
and an official said that there was no
statement whatsoever to be made re-
gardng a dissolution plan.
Amid all the rumors and apprehension.
it seems strange that no one thought OF
including the fact that the market was
on the eve of Friday the 18th That was
really as good a reason for selling
stocks as most OF those on which sales
were made.
The American Agricultural Chemical
Company declared regular quarterly divi-
dends OF IL per cent on preferred, and
/ per cent on common.
Phelps Dodge Company has declared
the regular quarterly dividend OF 1-2
and an extra dividend of per cent.
Foreign exchange twenty points up.
Rumor on floor is that ]. ?. Morgan |
has control OF Union Pacific.
As a result of what was disclosed at
the Pujo investigation regarding manipu- |
lation of the copper market in the past, |
Amalgamated Copper preferred was weak |
at opening. Traders were bearish on |
the stock. although in conservative quar- !
tiers it was cOntended that the per cent !
dividend is safe.
Subtreasury gained s77S,OO0 from banks
Thursday. and since Friday has gained |
S514s,O0o
It is understood that the Illinois Gen.
trail Railroad Company is about to con-
clude negotiations with the American |
Locomotive Company for the purchase |
of between fifty and sixty new locomo-
tives. Although details are lacking re-
Earding the matter. it is stated that the |
deal will involve an expenditure of in |
the neighborhood of $4,000 or $1,000. 900.
British foreign security takes pessimis-
tic view of European situation in speech |
in House of Commons. Government cot
ton estimate will be published at . o'clock
to-day. Local pig iron market shows
visible slackness in demand, but no
weakness in prices, no large sales re-
ported recently.
London copper weak, off lis
Chicago-There will be no extra dtvi-
dend on National Carbon stock this year.
according to a large interest in the cor
poration. The earnings are large and II
requires a great deal of money to swing
the business.
The Levy bill directing the govern
ment to deposit $50,OOo,00O in national
banks was to-day referred to a SUBJ
committee of five members of the bank
ing and currency committee who will
consult with Secretary MacVeagh.
The California Railroad Commission
has arranged for a general reduction in
electric lighting rates in Southern Cali
fornia, covering a large part of Los
Angeles, San Bernardino, Riverside, and
Orange counties. The reduction, which
will go into effect January l, 1913, will /,
result in an annual saving, based on
present conditions, OF approximately
S1O4,O 900 to 1000 users OF electric current
Colorado and Southern lines
49, Changes.
First week December.......... 1901 20 Dec. SlE3
From July l................-. 6s45565 Inc 6ssls
The gross revenue of Colorado Springs
and Cripple Creek District Railway
Company from July / to October q.
to $226.972, included in figures
FOR 1911, but no figures Of Colorado ,
springs and Cripple Creek District Rail-
way Company for this period included
n 1872