The Washington herald., 1912-11-08
NARKETS--FI 4 Il COMMERCE
WALL STREET GOSSIP

subtreasusy saipsd u.is1.ooo from the
banks yesterday. and hnce Friday has
gained N.eG. co.
From the character Of the buying Of
Reading and St Rau II looks ~ though
the market viii 90 higher.
At meeting Of the directors Of the
American Cotton Oil Company yesterday
1t was decided not to declare Q dividend
ON the, common stock at this time.
Norfolk and Western for September:
Total operating revenue increase. Nsa.6ls;
net operating revenue decrease. $T.25;
net income increase. d.xH.
Many stocks were returned Wednesday
and reborrowed Thursday morning. The
old standing short interest remains out.
While the actual figures for the full
month OF October have not been re-
ceived. II 10 authoritatively stated that
the gross earnings of the Missouri Pacific
for October will show az large an in
crease over the corresponding month Of
last year as was reported for September
In comparison with September. 1911. II
In expected that inasmuch ~ there was
u&tcIl4i tuCIcaS6 tno Operating
expenses. the gain In the net will be
correspondinsly large. Tho same author
ity made . statement that the company
win wipe out In the present fiscal year
the deficit shown In the last annual re-
port. II 70 possible that some monsy win
be raised for the company.
Baltimore and Ohio for fiscal year
ended June %: Gross earnings increase.
H.4lsns; net earnings increase. $2.50. SO:
surplus increase. $.07s.oa.
Standard OIL Of Kansas sold 1t 80.
Wednesday IT sold as low a. z75.
The buying in St Paul is based on
knowledge Of the traffic results 30 far
in the fiscal year. Some Of those iden-
titled with the absorption Of tho stock
stated that the October net earnings
were the largest in the history Of the
company. There was a good deal Of con-
lecture on the floor As to the source Of
the heavy buying in the leading indus
trials and railroads with an interna.
tional market. In some quarters II was
believed that a large part Of the buying
OF these stocks was covering OF huge
outstanding short interest put out all
through tho long period between the
Presidential conventions and election
day. but there were many brokers con-
eerned in this buyirg who told their
friends that the bulk Of buying was q \
replacing Of stocks sold by Europe In the
first half of October.
With Roosevelt and Taft, considered
by them their greatest enemies. re-
moved from power in a political way. |
II IL said the Standard OIL interests are |
more bullish and 1t Is intimated that |
the advance in st. Paul 10 confrmatory |
thereof.
Pittsburg steel hoop manufacturers
arc selling hoops at $l.so per 100 pounds.
an advance Of s. per ton. i
Street sentiment Is more and more
tending toward the idea that the rails
are better purchases than the industri-
ais on account OF the tariff outlook.
Specialist sources insist that there IL
selling Of Steel on a scale up from some
source not traceable as yet.
Investment is reported for foreign ac-
count in the Granger rails. Foreigners
are rather pleased than otherwise over
The prospect Of free trade"
Reports from all parts Of the country
predict a large holiday trade. for which
are preparing generally.
In some quarters Of the street the
Beet Sugar smash is said to be due as
much to manipulation as fright
There has been some well Informed
buying Of Consolidated Gas for tho long
pull.
Investigation of persistent rumors leads
% the belief that repurchasing Of
Union Pacific and the Hill stocks has
been going on since Wilson's election
'or foreign account. There Is a ten
lency to keep away from the industrialsl
IN account Of the tariff revision pros
oects.
The market opened active and strong.
md in spite Of very heavy profit taking
he market held its tone. St. Paul was
he most conspicuous stock. selling up
'ome five points. The weight Of profit
aking, however. caused a reaction in
he afternoon. but trading fell of on the
lecline and good support was met For
ign houses took some $1,000 shares Of
took. Money opened at g. and many
enewals were made at that rate. but
he bulk OF the dealings was nearer
'er cent. Beet Sugar was heavy, stock
,eing for sale on all rallies, while Cot
on OIL broke sharply on announcement
hat no dividend would be paid. Great
Northern earnings show q gain in gross
= n 6l3 O00 for October