The Washington herald., 1912-11-05
MARK AN r. CONNER CE1=
WALL STREET GOSSIP

A great deal of : Investment money
win be released. We understand after
election.
A trading position seems to b. recon-
mendsd by most Of the big specuiafive
houses at the preseat time. Caution u
paramount.
The odd Lot buying IL still chiefy on
the mi-speculative order. - sa'o
breaks will find . large number OF
these orders under important rails.
Steel. ID reported full Of stop-loss orders
for bull account. 1t 10 . favorite pur-
chase for outsiders now trading the
market.
The professional element 10 still bear
ish, according to our investigations. 1t
seems to think offerings will be found
on all rallies.
Reading and Union are In . position
where they can be used to, drive In the
short interest We dnd evidence OF
stock for sale in Steel Nan rallies. Anal
gamated Copper is very firmly held
The absorption Of the fractions has been
considered very good.
speeciaities like Interboroush-M Metro
poiitan. Brooklyn Rapid Transit. Ameri-
can Locomotive, American Cotton OIL
may be raised materially. The buying
of Southern Pacific on declines is said to
be good.
The British Columbia Copper Company
produced 1.ol3.000 pounds OF blister cop
per in October. these figures comparing
with $4,000 pounds for September and
represents q substantial increase also
over October, 1911. The properties in the
copper mountain district on which Brit
ish Copper Company recently exercised
options are developing beyond the ex-
pectations of the engineers and Of the
management, II IL expected that the pro-
duction from them will be very large
and the .ore Of an excellent grade.
OF the 10000 pounds cape gold which
reached the London market to-day 2o0.-
900 pounds was secured for India and
the balance was purchased by the Bank
Of England
The underlying cause Of the break in
Beet Sugar was technical weakness
caused by pool liquidation which has
been going on for . considerable time
past. All that was needed by the bears
was a pretext for a break and this was
furnished by the near approach Of the
election with the probability that the su-
gar tariff would be reduced whether the
victory went to the Democrats or to the
Republicans.
The board Of directors OF Standard Oil
Company. OF California. 10 scheduled to
meet in December when the stock will be
placed on divided basis OF 10 per cent
annually. The company il now earning
at the rate Of Is per cent on its out
standing capitalization and earnings are
increasing due to rapid development Of
Standard OIL Company's interests in the
State Of California.
Book value of stock is around SI42
per share. A large amount Of stock
purchased in the open market was re-
Gently shipped West. On December 81.
1911. the assets Of Standard OIL. Of CAL
ifornia, were given a. $685. 4S.
The subtreasury gained sH,.cco from
the banks on Friday.
Over 1000 Canadian Pacific Railroad
freight handlers and clerks. members
Of Canadian Brotherhood, went out on
strike yesterday. 1t Is expected 5000
men will be involved demanding recogni-
tion Of the union and an increase in
wages.
Directors Of Canadian Pacific will meet
next Monday to declare regular quar-
terly dividends on the common and pre-
ferred stocks. At this meeting some
statement may be made regarding the
forthcoming issue of s6ooOo.ooo of new
stock.
The Readings anthracite shipments in
October were 1.32s.O 900 tons as compared
with $4,000 tons In October, 1911. The
trade estimate of the total October
shipments Is $4,000 tons.
Snow estimated total corn crop 3.23S.
00o.oO0 or s22.000.0 900 more than last month.
Bartlett selling May corn.
London copper firm. up IS Sd.