The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-05-29
WALL Street GOSSIP

Hartman & Co.-An official of the
DistiIIers' Security Company yesterday
morning stated that the company is
doubtedIy the interest will be paid. The
company is making more money than
il did last year. and will be able to
make a very satisfactory showing at the
end of the season which is about the
first of July. There is nothing connect
ed with the mana gement of the company
to explain the break in the stock and
bonds yesterday morning.
London was a seller to the extent of
about 5000 shares. The ST. Louis and
San Francisco receivership had not been
expected abroad anu the announcement
created a decidedly unfavOrable impress
sion.
A Norden & Co. estimate the average
increase of cotton acreage at ~ per
cent, and condition at $50 per cent.
B. F. Goodrich & Co. has declared
regular quarterly dividend OF Sd per
cent on preferred, payable July l.
\ few weeks ago it was rsmored that
negotiations were in progress for an ex-
change of a part Of the 49,, 700, 900 South
ern Pacific stock held by the Union
Pacific for the Baltimore and Ohio stock
in the treasury Of the Pennsylvania
Railroad Company and three of its sub
salaries. The total of these holdings is
81, "a, 800 common and an equal amount
of preferred. making si2,5f7,2oo all told of
Baltimore and Ohio stock held by the
N
becaN known that the proposed deal
with the Pennsylvania had been aban-
doned.
Now information comes from wholly
trustworthy sources that these particular
negotiations have been renewed as
means of solving in part the trouble
some problem set up by the decision of
the Supreme Court in the Union Pacific
ease. Such an exchange Of shares would
give both the Union Pacific and the
Pennsylvania valuable investments. 1t
would reduce materially the amount of
money that il would be necessary for
subscribers to Southern Pacific stock to
raise. What terms have been proposed
as basis of exchange cannot be learned
at the moment.
1t is reported that a contest will de-
velop when Judge Sanborn takes up the
question of appointing third receiver for
the Frisco Lines. New York banking
interests objected to appointment of West
and Wirchell as receivers and decIar I'd
that men should have been named who
have not been identified with Frisco in
any financial or official capacity.
Attorney General McReynolds said yes
terday that as yet no plan for the dissolu-
ton of the Hartman merger had been
submitted to him. He stated that ne
maintained the same position that the
plan must carry disposition of the Cen
trail Pacific by the Southern Pacific or
he would bring a suit to that end
London cable says rumors are current
that Royal Dutch Petroleum Company de
clared 40 per cent and the Shell Transport
Company 3 per cent out of 1872 earnings
The National Tube Company has low
cred Its discount on all grades of steel
pipe with exception of oil country goods
one-half point. This is equivalent TO an
advance of 81 ton in price A similar
change was made April L. Other max
ers viii probably take similar action.
Interboro Rapid Transit April gross
operating revenue increase sA25I. operat-
ing expenses increase SSe.isS Net operat-