The Washington herald., 1913-10-31
WALL STREET GOSSIP

MILL OlhLLl uU0OH
J. p. Morgan is offering s12Oo0.0co
New York Central one-year notes at ssis
and interest TO be dated and taken up
next Wednesday.
It is stated that none Of the New York
Central lines expects to issue any fur
ther notes this year.
Indications are that fourth-auarter of
this year win record heavy falling on
IN Steel earnings The. corporation
should be satisfied in view Of falling
prices and production with net earnings
OF between $Soooo.ooo and ss5.ooo, ooo Az
stunning that earnings reach ts3, 900 900,
Steel for the year 1913 will have earned
approximately $40, ,2O0. co., which means
a surplus Of close TO So, 200 after in
tsrest., depreciation, and preferred div
idend payments. This would be equal
to l2.2 per cent on common, compared
with 81 per cent in 1912.
In Berlin tire difficulty OF two impor-
tant bankers in arranging their differ
ences and the failure OF three brokers
had little effect on sentiment
Erie officials deny report of $50. 900 900
bond issue
Sloan-The traders are puzzled now.
they cannot understand where the SELL
ing is coming from. but market seems
quite thin and sold of on the Nselling
Of a few hundred shares. / think the
best chance Is buying at present prices
Steel, Union Pacific. Reading. and Cop
per, these four stocks continue to be the
leaders.
Trading was quiet at opening and
prices changed fractionally. Undertone
seemed to be good but the rank and file
were inclined to await a lead by the
larger interests. Independent strength
was shown by Third Avenue. which
opened half up at 40,S. the highest price
of the recovery from recent decline.
In current issue of the Iron Age prices
for principal steel products are reduced
81 per ton or more from week ago.
Steel bars are now quoted at N.35 per
hundred pounds.
The bessemer billets and open-hearth
billets at Pittsburgh are now quoted at
ton.
E. & c. Randolph to W. B. Hibbs &
was quiet at the opening.
and price changes were small. There
was some moderate buying by London.
which caused some early strength. but
when this was completed. prices sagged
OF In spite OF some rather marked firm
ness in the local fractions. Later the
market became very dull with the tone
heavy and prices as a rule
slightly below Wednesdays close. Trad
ing has been almost entirely confined
to the room. The floor seems pretty |
evenly divided between two parties. The
rather unexpected advance In money |
for the last few days, call money touch |
ing s per cent and loans being renewed |
at per cent. has of course worked IN |
favor Of the bear party. In the last |
hour dribbling liquidation caused recess |
sions all around and the market is clos F.,
ing very irregular.
Just above present market and look for |
ower prices.
Attorney General McReynolds viii |
cave tonight for st. Paul, where he will |
argue the Harvester case before the Fed |
eral court in that city.
Before he leaves he will forward to the |
Department his opinion on the |
per cent discrimination clause for
american SHIPS III tnc tdTllI oui- Inis
opinion will likely go to the Treasury
Department early tomorrow morning. |
The Attorney General would give no
ntimation as to the position he will take
IN this question.
Greene Cananea Copper Company de-
lared dividend Of per cent.
Regular dividend on Consolidated Gas.
Southern Pacific for month OF septem-
'er. net decrease, S496,1e6 three months
ecrease. S2.25S2S.
Boston houses and the larger room
raiders have turned sellers of stocks
gain.
Banks lost since Friday s5.OOooOo
Third Avenue shows 62e per cent earn
d after allowing for depreciation.
Post & Flagg buying Steel for Europe.
Sloan-It locks as II the old Boston
ear crowd were going to try the mar
ct. The floor professionals have beer
'hipsawed the last three times. and are
isgusted with the market On any re- /
ction l would buy for a turn.
One million dollars worth of gold has
cen taken for Canada, making s2,3oo.oOo !
nee Saturday. !
Missouri Pacific September gross de-
'ease. $3.50; net increase. $4,000
BOSTON cOPPERS. !