The Washington herald., 1912-11-01
WALL STREET GOSSIP
London ha. bought ,s.oeo Steal

London has bought 15.ooo stesle
Chicago and Atoms operating expeniRi
increased. ~. 40; operating income do
creased $ss,7s4; balance decrsased $zs&&
The consslidated Gas Company DE-
clared the regular quarterly dividend OF
I 1-2 per cent on its stock.
Partisan advance Of 81 Of per cent
to I per cent was made by the Bank Of
France In its minimum rate Of discount.
The 8 IL per cent rate had been m ef-
feet since October II last. when It wa
raised 1-s of per cent.
speyer q Co. have purchased from the
New York State Railroad >s.ses.ooo Of it
nfty.year first cons mortgage gold IL
per cent bonds. series A. and In conJunc-
ton with Harris Forbes q Co. will short
ly offer the bonds for public subscrip-
tion.
childs says: ''WhiIe believe that It u
good time to be cautious. think the
market acts much better. There was
less liquidation and more professional
selling yesterday, and the short interest
u large enough to be . great hd(p to
rally when It comes Paris settlement 10
cur. should help foreign market. Very
good buying of Lehigh and Reading 10
reported"
81. Louis and San Francisco's ssptem-
Der operating revenue increased ~ "a:
total net inor.sss: .sss.o'sj operating in
come increased &1l.oS
/ Chesapeake and ohio's September total
operating revenue decreased $17.S3S: total
operating expenses increased $116 100; net
operating revenue decreased $lsA1z.
Bank of England rate unchanged at s
per cent. London market for Americans
shows good advances. Reading. Steel.
Copper. and Union Pacific averaging
about 81 of a point UP. The foreign sit
uation seems to be clearing. 1t II semi
officially stated that Austria and Russia
have come to an amicable understand
ing, and financial settlements At Lon
don. Paris. and Berlin are progressing
satisfactorily.
Aiilwaukee-United States Judge aieser
in an opinion covering twenty-five passs
has sustained the demurrers iEtero1sed
against the iBAervening petitions IN the
Allis Chalmers foreclosure suits Of Ma
than Eisman and other bondholderA
This, 1t !s believed. will clear the way
to a speedy reorganization AMI prompt
creation Of new company and issue Of
its securities.
No special news on Erie London
bought 1000; Shearson Hammil. 800.
London copper f,rm. up Il "a.
Tone of market was very strong at
opening and looks As though It was
a standstil. There has been very lit
tie buying by outsiders. however. and
traders are very cautious.
The gueurillas OF the Copper market.
that Is to say, the small and second
hand 6ealers, arc offering electrolytIc de-
1ivered thirty days as low as 17Sc. q
pound. which naturally renders the 17%c.
a nominal quotation. As far as impor-
tant transactions are concerned there is
no copper market, and the situation IL
expected to remain unchanged until after
election.
Union Pacific gross operating revenue
iHSECo6c0 Sosp,o-S- opCEoI1HB cApSHstS
increased ss7s.g77. Net increase S2ss, ,5sl.
increase $1.1o6.94s. Operating expenses
increase, s759sos. Net increase, S2s6. .3SS.
We are impressed with the character
Of the absorption for the long pull Of
Reading.
1t is said the real test Of European
trouble between the powers will come
when terms Of peace are being arranged.
Some crippled accounts Of substantial
size .Semain to be adjusted. and this
will probably occur on any big recovery
after raids.
Uptown professionals continue to favor
the short side Of leading activities on
rallies.
A large amount Of cash IL being ac-
for investment after Novem-
ber s. The release Of crop money will
be followed by an expansion Of de-
mand.
The private borrowing Of Steel, Union.
during the past day or two;|
Most Of the big operators awsdt a
general and individual voiumA day on
the market and leaders befdle taking
the long side permanently. i
After the election 1t il stated in WASH
lngton advices that money will be de-
posted by the Treasury with, the banks !
This would at once reduce rates II the |
foreign situation is no worse, accord |
ing to good authority here.
Boston is credited with buying 5000
Steel on which 1t Is whispered there was
no money made.