The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-08-15
NEW YORK COTTON.
WALL Street GOSSIP

H. X. Evans-After the rapid advance
of the last week, a moderate sized re-
action is due. and even overdue. The
market still seems to be in full control
of the bulls. however. and l do not be-
! lieve that any reaction will go far. SO
that 1 favor the long side for a turn
on any weakness today.
Lonx pull buying is found In Rock
Island. Missouri Pacific. Missouri, Kan
sas and Texas, Southern Pacific Railway.
and Erie.
St Louis wires: Glucose Company Is
taking all the corn here at u Ia
Pine Bluff. Ark. sends its first bale of
new cotton nine days earlier than last
year.
Z. F. Leland-The wave OF pessimism
which has swept over the worlds mar
kets can only result in all wheat being
oversold; favor buying on any good dip.
Would buy corn and oats on any weak
spots. particularly corn.
Moore and Schley and Dominick and
Dickerman have bought Great North
ern Ore on and of for some time. The
stock has advanced with the market
and nothing else. There have been big
bull tips on it from Jewish sources. but
seem to be without foundation. Upper.
Rutter. and Gross sold Reading. Cas-
parry now buying. The selling looks bet
ter than the buying. but stock advances
easily.
The Southern Pacific underwriters
only have to take 10 per cent This ought
TO be full argument
Floor gossip indicates moderate profit
taking in such stocks as Union Pacific
and Reading around present prices, but
there is continual demand in the loan
crowd which professionals do not care
to enlarge materially after the recent
bull drives.
Investment sources feel that on earn
record Southern Pacific should readily
work to the vicinity Of par under favor
able market conditions.
Some doubt is expressed as to an imme-
date advance in Steel to the predicted
price of 20, as the tariff influence appears
to be affecting prizes and orders Of the
corporation TO some extent.
Room is bearish, and London looks for
an easier market Kuhn-Loeb and
Standard Oil interests are in the market,
and reactions should only be moderate
An old-timer says sixty days from now
the market will be ten points higher.
What will happen in the meantime no
one can say.
London sold some Steel Nothing big,
Quite a number of small buying orders
are coming in the Reading market
]. s. Bache & Co.-The remarkable
success Of Union-Southern Pacific stock
agement to the whole market, and.
with practically all the largest con-
Germs in this country and many in Eu-
rope interested in the ultimate diges-
ton Of the Southern Pacific holdings at
good figures, prices most naturally re-
ceive new impetus.
Posner & Co.-There Is nothing I'M
usual in the hesitation that prevailed
Wednesday. 1t is about time for
resting spell. It will do good and give
people a chance to get into the market.
Hartman & Co.-Secretary McAdoo
il going to pour a lot of water into
the sea at Ocean Grove, where only the
truly good go bathing, leaving the vile
wretches at Coney Island with only the
ordinary supply OF water. That is why
the stock market has been rising. We
may add. confidentially. that money,
like water. seeks Its own level, but
don't disclose this secret to the admin
istration at Washington.
E. F. Hutton & 'Co.-Market shows
every indication Of working higher. We
still advise purchases on reactions.
E. & c. Randolph to W. 3. Hibbs &
Co.-Opening was moderately active,
with a continuation of the reactionary
tendency which was in evidence yes
terday. Trading element was bearish.
and sold stock freely. but the market.
while heavy. did not at any time show
any weakness. price changes in the
first half hour being small. Steel. as
was only natural. having had one OF
the largest advances Of any stock in
the last month, was about As heavy as
any OF the standard issues, declining