The Washington herald., 1912-06-18
MARKET AFFECTED
BY THB CONVENTION.
Trading Dull and Estless-opin-
ions Differ as to Possible Effect
of Nomination.
- RARRoN sERYIcE.

New York. June 1.-THE market was
thoroughly dull and listless during the
morning. with sales running as low as
less than ten thousand shares an hour
around noon, but there were a few short
spurts Of activity in the afternoon. The
general tone was strong, many Of the
bears openly declaring that Il wouldn't
be safe 10 remain on the short side until
after the Chicago convention. intimating
that developments there would wqrrant
4 renewal OF their position,
While II was conceded that whoever Is
nominated, It viii have its market ef-
feet. there was no unanimity Of opinion
as TO whether Roosevelt or Taft or =
dsrk horse viii prove 70 be a bull or q
bear factor.
BuIIish activity Of the wabash issues.
founded on the prospect Of speedy re-
orEanization, attracted considerable at
tention- There was an Improvement in
sentiment toward United States Steel,
common, although the advance was
small
The dividend declaration on Colorado
Fuel was responded to by an advance
in the preferred. Canadian Pacific was
weak, following a decline In London and
heavy selling by German holders, who
are dispcsing of their stock. because OF
financial reasons in Berlin, rather than
Extend Motor COmPany's Paper.
Through a ninety-day time extension on
paper and other due obligations by its
chief creditors, the United States Motor
Company has escaped serious financial
complications. current obligations Of the
company falling due at this time and so
extended total about $4,000. As part OF
the extension arrangements the creditors
caused the election Of W. z. Strong.
brother OF the president Of the Bankers
Trust Company, as a director and chair
man Of the board Of the company.
The statistical position Of Copper was
still further strengthened by the fort
nightly figures from London, which
showed a decrease of 1883 tons In the
amount Of metal visible in England,
France, and afioat thereto on June Is, as
compared with June /, while supplies at
Hamburg and Rotterdam were-reduced
by 545 tons In the same period
The Colorado Fuel and Iron Company
has declared the first dividends since
1906, with payments on the preferred
stock ordered for July 20 and January
20 1913, of ~ per cent each.
Nearly all Of the United States Rub
Der Company stock of both classes was
voted in favor OF the increase in capi-
tai stock TO $50 100000 and the retire
InenL OF lle 6GGoNu pItLtIIGu sNOGh "
conversion for first preferred.
Banks Expect Call.
National banks expect that there will
be a report to the Comptroller Of the
Currency called for in the near future
The last calls were February 20 and
April IS, respectively.
The Royal Bank OF CEnada VIII in
crease its capital from $10OO0.Ooo to SIS
10000, which will make 1t the largest
in the Dominion and the equal in cap
italizatiOn TO the three largest banks in
the United States, the National City,
National Bank Of Commerce Of New
York, and the Continental and Com
merciaI National Bank Of Chicago.
Another copper company, the North
Butte, has increased its dividend rate
through increased earnings from higher
metal prices