The Washington herald., 1912-11-28
WALL STREET GOSSIP

to be indisposed toward material i'm
provement now.
"a great deal of money is awaiting
investment says New England
financial interest, ''but the tariff is
holding back confidence"
Urgent Liquidation Is declared by
Standard OIL sources to have run its
course.
It is interesting to observe that the
Morgan party is not as optimistic on
the outlook as is the Rockefeller group.
London banking interests predict by
the middle of December 100000 in
gold will be exported to New York.
Copper metal requirements are said to
be in excess Of the visible supply; with
the restoration of confidence abroad
there will be extensive buying.
Tariff activities are expected to be
resumed in Congress in the second week
of December, according TO private ad-
vices from Washington.
There is quiet buying of General Elec-
trio by well informed sources whenever
the stock is offered.
Crucible Steel declared regular quar-
terly IA per cent dividend on preferred,
payable December a.
Rumored President Taylor. Of Ma
tional Ginners', estimates crop at 49,
100000 bales and predicts Is cents for
cotton.
Selling of GoIdfield consolidated ap-
peared to result from expectation of re-
duction of dividend. Earnings for some
time past have not been up to require
ments Of present rates.
Over the arbitrage rail about 1000
shares of stock were bought by London,
and there was probably about an equal
amount bought through other channels
for foreign account so that about one
fourth of the Wednesday forenoon's
business represented purchase OF stocks
by Europe.
The Bank of Montreal is shipping
81, 100000 gold to Canada in two consign-
nents of $4,000 each, one to go to-day
and the other Friday.
Sterling exchange market quiet; rates
on to 10 points
The copper Range Consolidated Com
pany has declared a quarterly dividend
of 20 cents a share. an increase of 25
cents a share.
Nevada Consolidated Copper Company's
October output. S5o,71 pounds OF copper,
as against 5,607.573 in September.
Money is in plentiful supply at per
cent.
In banking circles last night the pre-
diction was made that gold import en-
gagements would now be forced from
the other side. Such a movement was
said to be necessary in view of improb-
ability of the government increasing the
Treasury deposits in the banks to re-
lIeve the present stringency OF the money
markets over the turn of the new year.
Some are figuring on such engagements
to reach a total within the next two
weeks Of S15.OO0.Ooo.
The sentimental effect of this antiCi-
pated gold import movement is regarded
as likely to Offset the war news and
with the big interests carrying the bulk
of the floating supply of stocks, no i'm
portant break in the general market is
anticipated.
London bought some Copper and
Union Pacific. Traders are selling short.
Loan crowd is fiat, no demand; few
stocks returned, however.
Subtreasury gained $4,000 from banks
Wednesday. AMI since Friday has gain
ed S7.79l.OO0.
London has taken a sudden decline
of 4 to z. per cent. on account of
French army being mobilized-
says to watch Brooklyn Rapid Tran
Sit thinks there is a move coming;
evidences of quiet accumulation in II
for past few days.
Copper Range Consolidated Company
declared quarterly of 75 per share.
Three months ago 20 was paid; a year
ago, 30.
Chicago-An Fast St Louis dispatch
says the city is bankrupt. The city
treasurer's bondsmen have Withdrawn
and the citys warrants are selling at
% per cent discount
fractional advances all along the line
this morning, on better conditions
abroad and optimistic utterances re-
garding the money market here. The
of $4,000 gold yesterday
afternoon is expected to be the fore
runner Of further engagements within |
the next week and, too, the Comptrol- |
Ier's national bank call should be is |
sued any day now and thus release |
money locked up for window dressing |
appearances. Thus, although the United |
States Treasury Department persists in |
its antiQuated method of boarding |
money at a time when it is most needed, |
It would seem that an ease in rates i
should be IN order soon, particularly |
as preparations for December disburse- |
ments will be accomplished within |
day or two. We looked for a profess /
sionsl stock market yesterday, on the |
eve of the holiday, and believe the less
activity in stocks the better. with money |
so scarce.
Pittsburs-Threats were made We'd
nesday to extend the strike of the train
men at the Carnegie Steel Company
plants If nonunion men were put TO
work in the yards. Employees of the
Union Railroad said that they would
not handle cars moved by nonunion
men. 1t is reported that many strike
breakers were already hidden in the
plants at Homestead and Braddock.
Armed guards are on duty at the mills.
The tie-up is complete. Only four of
the thirty-five engines of the Homestead
plant were moving yesterday and every
siding Is hlled with idle cars None of