The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-12-27
MARKETS---FINANCE---COM COMMERCE
WALL STREET GOSSIP

HALL DlNEGl uUDDlI
1t is reported the railroad list will not
be allowed to advance materially until
the Minnesota rate case decision shall
have been handed down.
Investment in Brooklyn Rapid Transit
has been very large during the past few
months, according to latest advices, and
this is said to make it easy TO advise.
The private borrowing demand for
stocks seems to be fairly large. espe-
cially for Steel, Shelters, and Copper.
Great Northern preferred Is regarded
by very conservative stock exchange In
terests as one of the best speculative In
vestments in the list.
There may, be some further calling OF
loans. Money is expected TO work tight
er the remainder of the current week.
Specialist reports refer to a consider
able amount of Steel for sale near 20.
Very positive advice to buy good
stocks in the railway list. Is being
given now by some of the most import
ant Western speculative interests.
Delaware. Lackawanna, and Western
Railroad declared regular quarterly
dividend Of 214 per cent.
With holiday in London and a hard
money market little good can be ex-
pected of the market. to-day or the bal
ance Of the year. Window dressing may
be in order and some OF the specialities
may be marked up for the end Of the
year.
The directors of the Delaware, Lack
awanna and Western Railroad Company,
at their quarterly meeting Thursday
morning. voted to issue all of the 81, O0o-
900 stock issue. authorized at the meet |
ing of the stockholders OF the company
last February. The stock is issued to
present shareholders at par. The stock
is to be paid for in two instaIlments. 50
per cent on or before February Is. and
the remainder on the call OF the treas
urer upon not less than fifteen days |
notice.
London Stock Exchange closed yester- |
day. No news of Importance developed |
over the holiday. Financial comment on |
the stock market in the leading papers |
will be in a trading position for the |
balance OF the week. As the end Of the |
year approaches we are apt TO run into |
light money again, and We would sug- |
gest bearing this matter in mind in max |
ing commitments, as any special hard |
ening in call money rates will make for |
some irregularity in the stock market |
when the good. active issues can be pick
ed up for turns.
Union Pacific November gross revenues
increase, s1.o5a. 1856: operating expenses, in
crease S556, SJ7. Taxes, December, S,236
Total expenses and taxes, increase. $5l3,-
100 Net operating revenues, increase,
S54O.Oe6 Southern Pacific gross revenues,
increase. $s94, sos. Operating expenses, IN
crease. $S36.191. Net operating revenue
increase, $SO5,6H.
Southern Railway November operating
revenue increase, s617,6s2. Operating in
come, increase. sl45,sl7. Total net in
crease, S5l,1Se.
Foreign exchange market easier.
sterling rates down 30 to 40 points from
Tuesdays sales.
Atchison November gross earnings, in
crease, SSsO.465 Operating expenses in
crease, S5s6, ST.. Net increase, S2sS,5s3 OPP
Grating income, increase, SS,54
There was absolutely nothing to the
market Yesterday There was a little
nooI activity in fractions, but.no outside
business and many brokers are away.
Weakness in Rubber is due to scattering
selling in a narrow market and Hyde,
who is supposed to be short, Is trying
to get it down.
International banking houses are ig-
norant of the 500, 900 loan to be float
cd nv the Italian government, to be Of
fered in this country. 1t may be posi-
bile that italy will come out with such
a loan later OIL, along with the other
Furopean state leans that are likely to
be resorted to in the new year; but II
is doubtful whether, she Will take the
step Just at this time. As one banker
expressed il, the country that comes
into the money market at this time must
be in pretty bad shape"
According to Alfred Lichtenstein, Of
Icelhelmer & Co., who has
recently returned from Europe, Italy has
already been borrowing at different pc
RODS to finance her late war with Tur-
key. It would, however, be unusual II
an italian loan were offered on this side. {
of course, this market might
supply some Of the funds.
On account Of the resignation Of ]. T.
Hendricks as vice president OF the West !
srn Maryland Railway Company, in
charge of traffic, effective January ],
that office will be abolished and the !
place will be filed by the appointment
Of a general traffic manager. Announce !
nent of his name will probably be made !
In about thirty days.
Also effective January ], T. ]. Smiley {
will be appointed freight traffic manager
and the position of general freight !
agent at Baltimore will be abolished!
Evans-There is no reason to expect +
any special move in the market at pres
ent. It has had, however, nearly a full. !
normal rally, and therefore, in my opin-
on, stocks are a better sale on ad- !
Tances than they are a purchase on de-
,lines at present {
The Southern Railways directors have
approved a plan to retire half Of the {
no 900, 900 issue Of per cent three-year l
notes, due February !. The other half :
S to be extended by the sale of new :
.hree-year issue of $4,000 notes at the /
,ame rate OF interest. The notes matur- :
ng in February were issued to redeem
he balance OF a S15,O0O,0OO issue of three
year notes, which matured February /,
SO. of which $5,O0o,o00 were then paid on
n cash.
The payment Of the 100000 in cash re- s
Iuired for the retirement OF half of the
PRESENT issue will be taken from cash. At
he close Of the fiscal year, June 80 the =
report showed sis, 800, 900 cash {
IN hand. c