The sun., 1912-07-12
GOSSIP OF WALL STREET.


clined slightly on every day since u week
ago the stock was quoted eS the quarterly
dividend OF Si and also the 20 per cent
dividend In stock. Yesterday afternoon
the movement was accelerated and the
stock dropped 2,s points to 80. making only
small recovery before the close.
The only notable net change, in prices
at the close Of yesterdays market were in
the specialties. The action Of American
Tan common attracted good deal OF
attention by an exhibition Of pronounced
strength when the market was weakest.
Inc movement here WAS remarked upon
In view OF the fact that the individual who
has recently been spoken of ns the sole
influence In the market fluctuations Of the
stock ID now on the ocean on his way to
Europe. Other stocks which assumed a
divers gent course were all the Tobacco issues.
which recovered from 81 to ~, points.
In the railroad list st. Pau, went to io,'..
or within = " the low level Of the year
made last month. which was also the lowest
price touched since 1907.
James Speyer Joined in the general exo-
d'ls from the financial district yesterday,
sailing for Europe on the Amerika. George
D. Gould II To leave OH the Lustania next
week. These gentle men with three other
Gently appointed TO consider what action
should be taken in connection with the
Missomri Pacinc's' heavy investment in
wabash Railroad securities. The reor-
gahization plan Of the Wabash Is now eX-
pectcd TO be made public daily and Wall
street has received pretty definite intina-
tions that ii will he a drastic one, proba bly,
calling for an assessment Of $50 a share on
both classes of stock The Missouri Pacific
with the Iron Mountain owns SIS .5S5 500 par
value of Wabash securities. of which s.. .s2s.-
:W Is COMMON. sa.s2s.aW preferred and
Sa.sa8.2 .2oo refunding I PER cent. bonds In
the case of any such heavy assessment as
now seems likely the Missouri Pacific would
have to raise something like 81, 500, 900 to
protect its Investment. Wall Street is not n
little Interested in the course that the Mis-
souri, Pacific will decide to take.
There was a sharp rise in British Ameri-
can Tobacco on the curb Yesterday. THIS
was apparently In response TO buying ON
the part at people who wished to avail
themselves of the opportunity Of sutscrib-
ing Ia the new issue OF capital stock. which
il expected to be announced ~ the special
meeting of the stockholders in London ON
July 80 next The company proposes to
issue ..oSt.~ shares, par value Of Ct .
present holders TO subscribe to the extent
W ~ IeT tFUN. OI VNClT NOlUlnRA. SV0ck
must Re shipped by Saturdays steamer in
order to arrive in time for the meeting
II was originally announced that stock
must arrive by July is. but cables from tho
COMPANY ) Offices in London announced
that although " was a great inron vcnicnce
the date for the acceptance of transfers had
been shifted TO July 20 in order to allow
American stock kholders to participate. Trad
ing in the stock to-day. therefore. except for
cash. must he settled 10y delivery Of stock
with due hill attached for the right to sub
scribe to the new stock.
The low price for Steel common on the
Stock Exchange yesterday was 61i.. on
the Consolidated stock Exchange II was re-
ported that the price there did not go to a. IL.
At which price there was a strong ,iema nd
The matter was explained on the ground
that there was "a large short interest on tho
floor attempting to cover its cominit ments
A. bearing upon the prosperity Of the
farming classes in this country the De-
partment Of Agriculture has published
some interesting figures comparing the
prices paid farmers for their produce on
July I this year and in 1911 The average
of prices of the principal crops representing
about three -fourths Of the value OF all
crops declined 80 during June, whereas
in June. i0li. il advanced a. pcr cent
On July IL Na- about I7.5 Uer cent higher
than July !. 1911. The price OF corn incrra sod
from a. to SIT cents wheat from at3 20
% cents. oats from 81 = to - ; cents and hay
from ei3.am TO 8i1.j1. cotton aud fla ysccl
we're the only crops which brough, "A lower
price this year. Higher prices are the rule
in all other farm products as we'll. the ad
vance being especially pronounced in the
ase Of live stock.
One of the news bureaus Yesterday pup-
lished "a mass of statistics showing that,
based on the Indications contained in the
Government July rrop report. the total
value OF tho six leading crops will he 37sl
7JO. On greater than that of last year These
calculations are arrived at after making
allowance for the ordinary amuunt oi de-
tcriOratiOn between july / and taryc,,
The largest gain promises to he mad" by the
hay crop. the value of this crop bong M
creased by $50. .430.m1. The corn crop
will be more valuable bv s:i2 $3.50 .'as' wheat
by ST., ,c6O. 900. oats by si7.ssu. .ooo potatoes
by SiO5, $50. 900 and barley by SOL 400. .OOo.
The Baltimore and Ohio il tho first of the
leading systems of the country to make
known the results Of itS operations for the
Hscal year just ended. The figures are
complete except for the latter part of June,
these being partly estimated. The busi-
ness done during the year VAS the largest
in tho history Of the road.