The Washington herald., 1913-03-08

The reported movements of currency
this week indicate loss in cash by
the banks of about 100000
Altogether there has been engaged for
export to-day s5.sS5, 600 gold. or this
LaZard Freres are shipping seooo,0oo in
bars TO Paris. This makes a total OF
s3i, i3o 600 gold that has SO far been en-
gagged for export since the beginning of
the year.
Interests in touch with affairs of the
Union Tank Line Company say earnings
are running at rate of between l. and IL
per cent on the stock No dividends have
been paid by this company since the dis
intcRration, but the opinion is that when
the companys plans are completed for ad-
dtions and improvements the stock will
be put on dividend basis. No dividends
are looked for until the end of the present
year.
Contempt proceedings may be filed
against the Standard Oil Company by the
Department of Justice for alleged viola
ton of a decree OF the Supreme Court in
dissolution proceedings brought under the
Sherman law. Recommendations to this ef-
feet have been filed with Attorney General
McReynold!s. They had the approval of
former Attorney General WiclSersham.
This or the alternative of an entirely new
suit will be acted on by McReynolds with
in the next several weeks.
The recommendations submitted, cover
ing a period of four months search by at
torneys of the department. state that not
withstanding dissolution of the Standard
Oil Company of New Jersey. a holding
concern for the various Standard Oil sub
sdiaries the conduct OF business OF TIE
trust has not been changed materially
sir hefn ba pf he
luton proceedings
w B. Hibbs & Co.-There can be no re-
opening OF the Tobacco suit If anything
is contemplated 1t will have to be by pro-
ceedinGs initiated anew, commencing
from the ground up.
The decree was entered in the summer
OF 1911. 1t would have been possible to
appeal from the decree of tho lower court
within six months but that was not done.
1t is still in order for the government
to bring suit against any group of the
reorganizcd constituents of the old To-
bacco Trust II the government has new
evidence of violation of the law.
The 81. 10000 two-year per cent notes
of the Amalgamated Copper Company.
purchased Thursday by the National City
Bank and offered privately at 9S, a s.. per
cent basis, have been practically all sold.
Professional operators who are short
and have been trying to work prices
lower. make capital of and exaggerated
the Berlin situation and the Wilson pos
sible attitude toward business.
Specialist gossip says some of the large
operators, who are short of Steel, are
trying to cover.
Predictions are made that Can common
will be on dividend basis October l.
NO extended bull market need be ex-
pected at present" says well informed
source. but conditions do not prevent
individual advances now"
Western spectators hold that the mar
ket level has discounted much that Is ad-
verse in the tariff prospect.
Moro foreign selling is expected until
the money situation shows signs of relax
ing, according to private cables received
here.
A 80 per cent advance in freight rates
| on grain and grain products proposed by
the Rock Island from Chicago, st. Louis,
and Mississippi River rate territory to
| Oklahoma and Southwest has been sus-
| pended by l. c. c. to July 3. Union Pa
| cific has been forced by the government
| to relinquish title to coal land in Wyom-
| ing valued at s., ,0OO on the ground that
the property was obtained by fraud and
Misrepresentation. Copper producers fig
ures will be made public after noon to-
day.
Hartman & Co.-Irregular prices in
London yesterday reflect the uneasiness
of the money situation. Nations seem
| to be in hard lines for money when they
! can adopt, like Japan, the railroad sys-
| TEN of short-term notes for raising
| funds. Japan is about to issue sl5o, 00O, 900
of short-term notes, which is a loan not
! figured in general calculations recently.
1t begins to look as though the national
loans planned for the immediate future
would require half billion dollars. In
| creases of the armies in Germany and
France have caused some apprehension,
but the safety of that situation lies in
| the fact that both nations have made
| about equal preparations. Rumors that
the new Attorney General will reopen
the Standard Oil and American Tobacco
cases are unreasonable, because these
cases have been settled by the Supreme
Court. and the only object of the Su-
preme Courts existence is that there
may be place where litigation is ended
Pessimism is more pronounced in Wall
| Street now than it has been, and the
| inauguration does not seem to have re-
assured investors.
| 1t was stated at the Department of JUS
tice that no developments in Union
Pacific matters were likely to-day.
| Seabosrd Air Line January gross in
crease. s355,o3S. Net increase. s2So,7SS.
The foreign exchange market opened
barely steady. with demand sterling of
ten points from Thursdays close.
| Market took a more definite trend yes.
terday under influence of foreign selling.
German money situation was -bearish
factor and lower prices for copper metal
affected copper stocks. Favorable fac
tors like the St Paul earnings are offset