The Washington herald., 1913-07-25
WALL STREET GOSSIP

LOO MANY AllO no StOChs
Harris Winthrop & Co. bought $500
Steel: Baruch Brothers sold 5000 in all
Stocks opened easier on small volume
of business. On the decline the tone is
good on improved conditions In the corn
belt. Amalgamated was active at a frac-
ton under Wednesdays close.
The Merchants National Bank re-
ceived $4,000 gold from Canada
Bank of England rate unchanged.
Consols unchanged. London securities
moved irregularly today and the markets
had a tired appearance. Firmness in
consols contracted with weakness in home
rails. the last being depressed by disap-
pointing dividend declarations Ameri-
oan-. after rising, slowed up. but held
above parity. The continent contributed
virtually nothing toward business. not
withstanding the Balkan peace prospects.
Selling pressure against Canadian Pacific
was evident. Rio Tintos up Il at 73 L.
The price of electrolytic copper has
been further advanced to IA "a cents,
making total rise of IA since Wednes-
day. Practically all of the large interests
are now quoting at the IA "a cent level.
and sales have been made on that basis.
The continued heavy buying by Europe
is the feature Of the situation.
1t is rumored that a prominent opera
tor has negotiated a loan of several mill
lion dollars for six months, preparatory
to undertaking a bull campaign in some
of the leading issues.
Baruch houses buying Steel.
The Interstate Commerce Commission
has made an order holding class and
commodity rates from Mississippi River
crossings to Kansas interior points. I'M
reasonably and unduly discriminatory
and reducing class rates in the territory
by 1-2 to 1-2 cents per hum
dred pounds. The commission says that
the case will be held open until October
]. 1913, after which the commodity rates
will be dealth with, and both class and
rates to Kansas points not
specifically affected by the present order.
Childs-The bond broker says the de-
mand for bonds is greatly improved, and
IS especially good today. This is another
indication that the market will do bet
ter.
Baltimore and Ohio sold s., 900 4 per
cent bonds that it had in treasury for
improvements.
Railroads are protesting against in
creasing pize Of parcel post packages and
lowering rates, alleging they would lose
SIS, 00o. 900 to $50, 0C0,0 900 a year.
Grievances Of railroad managers said
to hold UP mediation. Managers will
abandon three out of eight grievances,
but trainmen will consent to arbitration
of none of them.
E. & c. Randolph to W. B. Hibbs &
Co.-The stock market took on increased
in a large degree toward the end
of the second hour. but the dealings were
still professional, the commission houses
giving no encouragement to their Gus
toners to buy stocks. Possibly a continu-
ahce Of the advance might prove an in
centive to buying which could not be
resisted. The feature was the improve
ment in the bond market. There was an
active demand. and prices showed a ten
dency to improve. Some Of the bond
brokers said It was the best bond day
for a long time past. The Baltimore and
Ohio convertibles were active. and the
New York City Railroad adjustments
advanced on pretty heavy transactions.
the bond market Of late has been the
Of the Reading general a. which
not long ago sold at 81 IL. but are now
~ "a. Peoples Gas advanced to III, .
gain Of 3 IL points. and Consolidated Gas