The Washington herald., 1913-05-01
WALL Street GOSSIP

WALL Street GOSSIP
1t was commented on in the Bond
crowd that Paris bankers were sellers
Of United States Steel IS and number
of other issues in that department.
Raleigh. N. C.-Representatives Of the
seven railroads operating through North
Carolina, after a conference with Gov.
Craig this afternoon, refused to grant
the States request for 20 per cent
freight rate reduction The roads urged
that the matter be placed in the hands
of the Interstate Commerce Commission.
The Interboro Rapid Transit declared
an extra dividend Of . per cent, pay
able to stock of record May 10.
Southern Railway for March, net in
crease. ss5, 100: nine months. net increase.
$654,7S.
Don't forget the shorts have not
started TO cover yet.
A resolution introduced in the House
BY Representative Medley of Kansas di-
reefs the Attorney General to proceed
against the Missouri Pacific Railroad to
collect S3.630,0OO as payment for money
advanced by the government in financing
the original road between Hannibal and
ST. Joseph. Mo. Representative Medley
insists that the 81, 500 900 advanced by the
government should be repaid with in
terest.
Reading system. all lines. March net
decrease, $1.2466l3. Nine months net in
crease si.76O.564 surplus after charges.
increase, S.6o2,o0o.
London Copper easy. off IS Sd.
Hartman & Co-The break in Ice is
due simply to the execution of stop loss
orders, Sc far as we can learn by in
ouiry among brokers who have done the
business. Officers OF the company say
they expect to do unusually good bust
ness this year owing to the warm winter
which will make a better market for ar
tificial ice in the East. Trading in the
stock mas not been heavy.
Boston-The Paris correspondent of the
Boston News Bureau cables: The ru-
NOR that Austria had decided upon iso-
lated action. with respect to Montenegro,
has hit all the bourses badly, but the
rumor Is unconfirmed and such action is
the situation is serious. but it is hoped
Russia and Italy may be able to induce
Montenegro to accept compromise. III
it is too long della ed, however. the Aus
trian public opinion is liable to force
the government to act, and this would
constitute a grave menace to the peace
of Europe. The European markets. hith-
erto optimistic, are now becoming dis
couraged at the prolonged delays in set
Element of the Balkan difficulties. All
sections are showing the money strain.
and monthly settlement looms up, add
ing to the difficulties
The personnel of the board of engi-
neers, appointed by the Interstate Com
merce Commission to assist in formu-
lating plans for the physical valuation
Of railroads. was announced yesterday.
1t is composed Of r. A. Thompson, now
with the California Railroad Commission:
Prof W. D. Pence. State engineer Of the
Wisconsin Railroad and Tax Commission:
J. S. Worley, Of Kansas City. Mo-, con-
suting engineer in private practice, and
E. +. Wendt, of Pittsburg. president of
the American Society of Civil Engineers,
and now in charge Of the engineering
work of the Pittsburg and Lake Erie
Railroad.
A sharp break in the Interboro Metro
politan issues caught shot orders and
shook out number of weak holders.
1t occurred following the declaration
of an extra dividend of per cent on
Interboro Rapid Transit stock, the COL
lateral underlying the Interboro. Metro
politan bonds. 1t meant a fund on which
dividends on Interboro Metropolitan pre-
ferred could be paid. but the street pro-
fessed disappointment because the dis
trih
they had expected per cent. An ex-
ira dividend Of per cent was declared
In the fall of 1911, but it was from a
special source. representing profits ac-
cumulated during several years by the
Rapid Transit Construction Company.
The present extra dividend Is from
earnings and practically means that the
stock is placed upon Il per cent basis.
W. 3. Hibbs & Co.-Back Of the con-
test between the Attorney General and
the Union Pacific attorneys over the
extension of the dissolution mandate be-
yond July 1 there is thought to be the
question of the disposition Of the Gen.
trail Pacific property, as well as the
Southern Pacific stock
The Union Pacific objects to paying
s104, 000, 900 for the Central Pacific with
the Benicia CUTOFF eliminated. and the
Southern Pacific Is not inclined to less
en- the price. The Department Of JUS
tice. it is thought, will insist upon final
settlement Of the status of the Central
Pacific before approving the dissolution
plans.
This is the reason for the insistence
of the Union Pacific attorneys for an ex-
tension of time beyond July 1. and is
believed to be an explanation Of the
mysterious phrase in the Attorney Gen.
erals brief filed last Saturday opposing
further extension, referring to certain
troublesome litigation now In contem-
platoon" which the Attorney General
hoped to avoid.
The counter reply of the Union Pa
cifc, filed in the Supreme Court late
Tuesday afternoon, still further insists
upon extension beyond July /.
The court will probably act upon the