The Washington herald., 1913-08-08
WALL STREET GOSSIP


subtreasury gained q. 1900 from banks
on Wednesday, making cash net gain
since Friday S.o2s,00o.
Cotton-Lonsdale says the general
opinion is gaining ground that the
Southwest is likely to. receive rains in
the next forty-eight hours. which has
checked buying. From what can learn
showers are probable in Arkansas and
Oklahoma in the next twenty-four hours,
and there is evidence Of storm forming
in the Central Gulf region.
s. B. Chaplin & Co.-The bull, move
ment in the market started Monday was
continued yesterday in a conservative
manner. Union Pacific, Steel, Reading. and
Southern Pacific were all notably strong
features, and made new high records
While there has been no important
increase in local or outside commission
house business. the feeling toward the
market is steadily improving. and it
timely rains develop in the corn belt to
ameliorate the conditions there, the pros
poets would be good for a much broader
and better training market.
As 1t is. higher prices are being pre-
dicted for all the leading stocks by
the interests behind the present bull
movement.
Post and Flagg are buying all the Cop
per that comes in for sale around a..
probably for foreign account.
London bought 1900 shares on balance
Thursday. and an optimistic feeling on
American stocks was shown in infiuen-
tial quarters.
As long as the hot dry weather con-
tinues the sentimental affect of II will
be to keep the cotton market in its
present condition, but when the rains
finally occur. the reaction to prices will
be all the sharper.
New York. Ontario. and Western re-
port gross increase of $4,000 for June.
Columbus, Ohio-The State crop re-
port for August makes the wheat crop
101 per cent against 81 per cent in July
and 10 per cent last August. The oats
crop is s. per cent against 81 per cent
in July and los per cent last August.
Harry Hart senior member of the firm
of Hart. Schaffner & Marx. of Chicago
and New York. returned on board the
Imperator.
Mr.. Hart says: 'Inasmuch as we en-
ploy lO.Ooo people in the manufacture OF
clothing in Chicago, and these people
must be kept busy, We cannot afford
to consider the tariff settlement in max
ing provision for the future. ! have
been abroad in the cloth manufacturing
districts Of England. Scotland, and
France, making purchases for next
spring and summer. or course. so far
as our foreign purchases are concerned.
we favor a reduction on woolens but
N ahar
tariff to interfere with the volume OF
our business. Our turnover is about
81, COO. go a year, which means the manu-
featuring OF a large number OF garments.
and we must make provision far ahead
in order TO meet the demand. In the
districts IN England and
France, mills and factories seem to be
at full capacity, and some over
time. Foreign business is exceedingly
good"
Brooklyn Rapid Transit Company earned
BIG per cent in the year ended June 30
last on the Si9.01s.000 stock outstanding
IT the end OF the year. This compares
with SIS per cent earned on the $iJ. GO GO
stock outstanding in 1872 and $50 per cent
on the same stock in 1911
With an increase of S935. rs or 3s9 per
cent in gross in the last year, BROOKLYN
Rapid Transit net earnings jumped SIs5.-
'o5, or Eli per cent. surplus for stock
the new record of 1854. Az.
f. & c. Randolph to w. B. Hibhs &
Io.-Reading at the opening was quiet
cut as a rule stocks showed fractional
gains over Wednesday. Some stock was
supplied on the advance. and the market
urned dull. but the undertone remained
strong. and during the first hour price
Is a rule ranged slightly above last |
nights close. Canadian continued heavy
Without any special reason for its action |
4 good deal of stock seems TO have been |
supplied in the last few months. and the |
market apparently has not yet disested |
T. Toward the end of the second hour |
'rices again firmed up. The supply of |
tocks, however, seemed to be small. and |
moderate demand is apparently suffi- |
lent to advance prices. The general i'm I
'ression in the street is that the bull !
larty has the market well in hand and /
S keeping 1t strong pending the an
of the Southern Pacific I'M
which is expected almost any /
ime now. Both Union and Southern Pa
ific were in urgent demand in the loan
rowd. In the afternoon the market was |
trOnV dull standard |