The Washington herald., 1913-03-02
WALL STREET GOSSIP

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Very large absorption Of high-grade
rails for investment is reported to have
taken place in the past two weeks.
we believe stocks will show improving
tendencies during the month Of March"
saws a well-informed source.
Brooklyn Rapid Transit is being re.
moved from the market steadily. In
vestors are becoming more and more i'm
pressed with its stability.
London anticipates relief from the Sc
curity congestion abroad by the end CT
the month, judging from Information
contained in latest cables.
Reports received from international
sources say that in the principal countries
of Europe. as well as in the United
States. the trade shows relaxing tenden-
cies.
There is a growing demand in very
conservative quarters for good bonds over
the counter. II is said assurance from
the new administration is having effect.
The Pujo report was the most promi-
nent HndnCldl news yesterday. II 10 IT,
garded as drastic. Comparison with the
Morgan statement makes its findings
ridiculous in many respects. Banking in
tercsts expected redicai Pjuo arraign-
ment. Washington private advices pre-
dict that none of its propositions will be
enacted into law.
The Balkan situation Is reported to
show much further progress toward
peace.
The GsyIey Steel testimony has created
no uneasiness. The latest from Albany
Is that while there may be no incorpora-
ton or stock tax bill passed. a bill pro-
viding for the imposition of $500 annual
tax on stock brokers will probably so
through.
The wheat sentiment was mixed. but
rather favored tho short side. Foreign
markets were all higher.
Regarding the institution of a suit
against the Corn Products Refining Com
pany by the government, President f. T.
Bedford. of the Corn Products Refining
Company yesterday morning issued the
following statement The filing Of a bill
by the government against the company
Is certainly a big surprise. / understand
II is their contention that several re-
organiza tions. which includes that of the
Corn Products Refining Company, form an
attempt at monopoliZation. II is gen.
orally known these were necessitated as
a result of overproduction and were
acts Of the shareholders. In result they
conclusively proved this is an industry.
consuming little more than / per cent
of the corn produced. which cannot be
monopoliZed. but for these acts OF our
predecessors the present management of
this company cannot he held respon-
siblc.
Childs-Market did not respond to
higher London prices, and acts like sell
ter trade news. but I think selling is
better than buying do not believe 1t
is time yet to take position on the bull
side.
Believed that Bethlehem Steel pre-
ferred may be put OH quarterly dividend
basis this month. Bradstreet's reports
o72 failures in the United States last
week against 3a5 the previous week
Reports from trade centers continue very
satisfactory in most instances. Powers
reported to have agreed on s30,OoO.coo loan
for Chinese railroads. New York Cen
trail in January, net after taxes, in
creased SO95l5. Pennsylvania system
in January shows net increase of 81.
455.4 London believes Turkey will
entrust her cause to the powers and that
peace is near.
Chicago-The Sears Roebuck Company
declared regular quarterly "a per cent
dividsnd on preferred stock, payable
April to stock Of record March IL
London-Inchabald & Son. members Of
the London Stock Exchange. failed yes
terday morning. The failure is unim-
portant.
Evans-There Is no change in the stu
alton. The market apparently has had
about all the rally il is going to get.
Prices are apt to move irregularly for
a few days with spurts in places but
as a whole it does not look as if higher
prices need be expected. The main ten
dency is still downward and stocks
should be sold on bulges.
Hartman & Co.-Coppers were stronger
the session yesterday, and all
other stocks were steady. The coppcrs
made a gain of only about a point and
others We're not materially changed
Copper metal was much stronger in
London with an active demand in it,
The restraining influence on the mar
ket yesterday was the Supreme Court ses-
sision of Monday. Very little alarm Is
felt over the immediate consequences Of
inauguration. II was felt in
the financial district Yesterday that the
reform bills introduced by the Pujo
were too radical 10 be passed.
The Steel Corporation is said to have