The Washington herald., 1912-12-15
WALL STREET GOSSIP

Boston interests of importance are
reported bullish on the stock market.
Increase of stock market business
during the current month to-day is
more than so per cent larger than 1t
was In the same period a year ago.
Copper Rtal interests seem to eX-
pect a strong metal market for two
years, with higher prices than now eX-
list
A number of very important wire
and commission houses are recommend
ing a trading position just now.
Wall Street comment in Offices show
that the testimonysof stock exchange
representatives is unsatisfactory to
those who have the best interests or
the street at heart
Some good buying of fractions. gas,
and equipments is reported.
Preference is noted in reliable ad
vices for the purchase OF Hill stock.
Southern Pacific, and Reading.
Some of the Standard Oil crowd have
been picking up Copper below the %
level
W, W. PRICE, think this Union Pa
cifc is a buy. 1t is the first time I have
advised its purchase. and 1 believe II
can be bought 10 day and bought TO
distinct advantage.
London.-Suspension OF J. c. Jukes j.
announced. No Importance is attached
TO the failure.
Metal stocks are under pressure.
Foreign exchange market opened strong
with demand Sterling up 20 points from
Fridays close. Market was Influenced
by cable report from London that the
money market in that center is facing
period Of exceptional difficulty.
London prices generally higher this
morning Movements of money indicate
banks will lose about 100000. 1t is prob
able that the severe liquidation Of the
past week will result in a heavy de-
crease OF loans London seems to bear
a stringency over the new year. owing
TO activity in trade. and a tendency to
hoard gold awaiting the outcome of the
Balkan situation. Look for n steady
market without much change for a few
days.
With Saturdays bank statement likely
to be as favorable as last Saturdays, a
quiet and steady market is being an
ticipated. The big liquidation Of
forced character by tho re-
cent calling of loans on big pool ac-
counts is undoubtedly over. But on the
other hand the two big bear CliQues
have covered. getting in about the last
of their stocks during the drive about
midday Friday.
Everybody's attention is concentrated
now on the bank statement and the
character Of the Supreme Court deCi-
sions on Monday in either the Anthra-
cite Coal Trust or the Minnesota Rail-
road rate case. II the railroad decision
should he favorable. many believe IT
would be made the basis of a 5-pont
rise Gin the market in its present liqui-
dated condition.
The Montana Power Company has
been incorporated under the laws OF
New Jersey with a total capital stock of
800, 0OO, 900. of which amount SI5.O0O.OO0 Is
common stock and IS, 900 coo ! per cent
cumulative preferred stock.
Chicago-E. T. Bedford. president Of
the Corn Products Refining Company, is
here an business trip. Mr.. Bedford
corn products business. and calls atten-
ton TO the fact that capacity is larger
than at any time in the history of the
industry.
The Corn Products Refining COmpany's
annual report will make only fair COM
parisOn with the report of the preceding
year. Capacity is % per cent greater
than consumption justifies. The Corn
Products Company wants to sell its
Waukeegan and Davenport plants in or
der to concentrate production.
Recently the statement was published
that Baltimore and Ohio common stock
would sell ex-dividend in about two
weeks. AS matter of fact the next
dividend is not payable until March l.
The directors will probably take action
on this matter at the January meeting
and the stock will sell ex-dividend from
some date late that month or early in
February. There seems to be no reason
for expecting any change in the rate.
nnHTnET