The Washington herald., 1912-11-23
WALL STREET GOSSIP

Creeping Improvement seems to be ex-
pected in many quarters for the present.
Offerings reported small.
Betterment in the monetary position
sentimentaIly only will operate for a
more optismistic sentiment. according to
some houses.
Tho frmness of Union Pacific and its
stubbornness on declines is attrating fav-
orable comment.
Profit-taking has occurred in Brooklyn
Rapid Transit, but inside reports seem
to be favorable to its purchases on re-
actions still.
Large earnings for the locomotive COM
panies are causing a more friendly feel
ing toward American and Baldwin com
panies. There is a meeting on the eth,
wki~h may announce favorable informa-
tion on Baldwin.
More money is likely to go to san Fran
cisco. but II is expected to be Offset by
gold imports.
4 large short interest is outstanding
in Copper, according to latest advices.
favorable to the purchase of specialties
not likely to be adversely affected by
the tariff reductions.
The opening was quiet and generally
lower, London sold between 10000 and
10000 shares, and the buying movement.
which was evident yesterday, ceased
abruptly to-day. Some of the so-called
Reid stocks made the best showing, Le-
high and Can showing pronounced
strength, but in the other issues stocks
seemed to be for sale on all advances.
There was no liquidation of Importance.
The announcement of a further engage
ment of $4,000 gold for import failed
TO produce any effect, and money both
call and time closed unchanged.
Berlin is reported as selling, also vi
emma. This stock came via London, ac-
cording to gossip, but inquiries lead to
the belief that some New York selling
has occurred via London in this mar
ket
Conservative sources say the tobacco
companies are making big money now.
and there is evidently a disposition to
look for bidding up of Tobacco stocks.
The investment absorption of these
extensively.
prominent Western source says:
The failure of prospective tariff re-
vision to affect the volume of Steel or
ders is accounted for by the fact that
Steel is selling lower in this country
then in foreign markets"
The known movements for the week
dad q
Thursday indicate loss in cash by the
local banks of $1,367,O OO0 They gained
from the interior $2,S96. .OOO but lost to
the subtreasury $4,000
Control Of the Manhattan Insurance
Company, of New York, has gone into
the hands of Thomas E. Lovejoy, of
Montgomery. Mr.. Lovejoy is president
Of the Montgomery Bank and Trust
Company and the Alabama Fidelity and
Casualty Company. Of Montgomery, Ala.
officials of the Loose-wiles Biscuit
Company estimate sales for October in
creased 40 per cent over the same month
last year.
The Guaranty Trust Company hassen-
gagged in London S5OO,OO0 additional gold
for import TO this country.
In bond market Wabash 41-es and New
York Central Railroad as should work
higher.
Market has excellent undertone and
trend is upward, but the continuation of
the war abroad has caused a halt in the
buying and il now awaits developments
which cannot long be delayed.
1t is fortunate that this war has come
on at this season. Had it broken out in
the spring we would undoubtedly have
been on the crest of bull market, and