The Washington herald., 1913-02-20

| The foreign exchange market 10 quiet.
Sterling of 10 10 points
| II is stated at the Department of Jus
ticc that the report that IL suit is TO
Re instituted under the Sherman law
| gainst the American Smelling and Re-
| filming Company is without foundation
Reports that the banks are carefully
| scrutinizing loans in Industrial securi-
ties is causing the weakness of these
stocks
At meeting OF the directors of the
Peoria and Eastern Railroad Company
yesterday a dividend of per cent was
declared on the income bones. The last
| dividend paid on the issue was per
| cent. April l. ISL.
1t is reported from Boston that the
AmalSamated Copper Company will pay
OFF in cash the s12.5C0 30 : per cent two
year notes maturing April l. The COM
pany is said to have had the necessary
funds in bank for several weeks.
There is good reason TO expect Chino
to go on a dividend basis Of s. or s.
per annum at the next meeting, whereas
six months ago 81 was the rate talked
OF.
The National Enameling and Stamp
ing Company has declared the regular
dividend of I per cent per annum on
the preferred stock. payable in quar-
terly installments of 1% per cent each,
beginning March 81 and every three
months thereafter.
THE market is undergoing steady
liquidation in unseasoned stocks which
have been listed during the past twelve
months" says prominent Western
institution, which suggests that specu-
lators prepare to see lower levels be-
fore any big up move is likely.
Continental bourses were buyers in
London. Vienna was strong on official
news that the Rothschild group would
lend the money required by Austria.
This is taken as an indication of peace.
Canadian Pacific was strong. with
Union Pacific as next favorite. Copper
metal was weak. but copper shares
were slightly better. Mexican stocks
were not much affected by the change
of government.
The New York Railways Company
has declared S22.5O per $1,000 bond
upon the per cent income bonds now
outstanding. The first declaration of
interest on the issue was made on Au-
gust IS last, amounting TO SI.I1 per
$1,000 bond. the amount disbursed al
that time being s236,39
At a meeting of the directors OF the
Pacific Mail Steamship Company the
following designations Were accepted:
X. S. Lovett and w G. Rockefeller.
They were succeeded by Julius Krutt-
schnitt and J. N Wallace. Mr.. Krutt-
sohnitt was elected president and also
and Mr.. Wallace was elected a member |
Of the committee.
The International and Great North |
ern Railroad has ordered ten locomo-
tives and $4,000 tons Of seventy-pound |
rails for laying $50 miles of track. 1t |
is planned to go actively ahead with |
the betterments to this property by |
the present. management. in view of 1
the fact that negotiations for sale of |
this road to the Missouri Pacific Rail
road have been dropped, owing TO |
widespread opposition
The Union Bag and Paper Company
announces that it has earnings enough |
from its Canadian plants alone to pro-
vide for the interest on its bonds, so
hat there is no danger of default. The
has not earned anything for
for the last three quarters.
Prices have been low, but are now ad-
'ancing and the paper bag war is over.
On application of ]. C. McReynolds.
special assistant to, the Attorney Gen
raj. the United District Court in Phil
,delphia has dismissed without preju-
lice the commodities clause case against
he Philadelphia and Reading Railroad
company and the Philadelphia and Read
ng Coal and Iron Company. Similar
lction was taken short time ago in
he case Of like nature against the Le-
Ugh Valley Railroad and the Lehigh
,alley Coal Company.
The advance in Tennessee Copper is I
ue to the report that National City |
sank interest have secured control of
he company from the Lewashons by
ctual purchase of the, stock, and that
lice President Kilbourne. of the City I
sank. win become vice president Of the