The Washington herald., 1913-04-04
BIG ADVANCES
in LAST HOUR
Wall Street Operators Believe
Insiders Have Good News
of Some Kind.
PUBLIC REPORTS BEARISH
Seaboard Air Lines Earnings-Loeal
Market Very Slow with Mar
rowing Trend.


By L. A. FLEMING.
Insiders in Wall Street have something
up their sleeves that the rank and file
are not familiar with. Every time that
the market starts up the gossips urge
the selling of stocks, ana when ono sells
the turn comes and the time to buy is
at hand
In the meantime. the tape is telling a
story of a real bull movement; of stead
lily advancing prices, and of losses to
the bears. who will take chances, be-
cause the news is of the kind to give
them encouragement
Yesterday morning stocks were lower.
The peace that was expected. was not.
The Union Pacific plan was still in EN-
hryo or up in the air. the flood dam
ages were minimized, but were bad
enough at that. The loss of point was
accredited as the natural reaction of
The market after such a prolonged period
Of strength. and some new high records
in the face of this bear news.
And then the market slowly approach
ed the last hour of the session when the
bulls broke loose again and came ram
pant. the further wiping out of earlier
losses. and establishing sharp gains
that were held right up to the tap of
the bell
EVERY hnONn lilnuetitt was dSdiHsl
the rise. but the tape told the story of
inside information. of something doing,
and the wise ones who have studied the
long slim. moving white tape. disre-
Sarding the fact that the Supreme
Court never leaks, took their minds of
OF bear news and gave close attention
10 modification of the Reading ruling
and TO the rendering of a favorable de-
cision- in the Minnesota rate case, be-
81, "a, hot fin
range of their wisdom, they could see
nothing else that looked good.
sharp Rise.
Whatever the cause, the fact remains
hat stocks, especially the leaders, not
only regained early losses. but turned
2l3 points better than the final figures OF
Wednesday and closed very strong at or
grazing the top.
And the operators who have been watch
ing the bearish gossip that has been COM
ing out, became Disguised and announced
that they had refrained from following
the busy little tape.
There were some weak points on the
list but they were not in the Coppe"s,
hmalgamated rising 27-S. Smelter IL,
Anaconda. 81: they were not in leading
ails. Reading being SIS higher, Union
Pacific l 5-S. St. Paul IA, the oil stocks
were i'm excellent condition, Mexican
s. higher California, ] IA: even Pan
handle. food and all, was ! IA higher.
Rubber was the weaklng, = IA OF be-
Gauge no one had confidence in the d.
viGcnd declaration. Corn Products pre-
rcrrod declined L. just why no one could
say.
But the declines were inconsequentiaI
compSred with the advances.
just Something.
At the cl Sc the best judges of the mar
ket were at sea as to the reasons there
for-just neutrality-suspicious. a leak,
perhaps a plan for the settlement of the
Union Pacitic-Southern Pacific matter
but all were satisfied that there was some
thing coming out.
And i'm the last hour more stock sold
than during the other four hours, the
total until then being Dbl 500 shares and
including the final hour, $4,000 shares or
22S, 400 shares in the last hour.
Scabcard Air Line.
Further evidence of the showing which
the Seaboard Air Line Railway has been
able to make under the management of
President w. j. Harahan is shown in
the companys report of earnings for
the month of February, which was
issued yesterday. The gross revenues of
the company for the month increased
spending period of last year. Operating
expenses also increased over $1,000; vet
despite the higher operating cost the
operating income of the property showed
a gain of Sis, .35 in net earnings for
the month, as compared with 1872. The
net income of the Seaboard was SAL
Sal. 80. or an increase of S45. So as con-
trasted with the same month of last year.
The gross revenues of the Seaboard for
eight months ended with February were
SIS, ISL. 179. or gain of s1,0i9,J6S, while the
operating income of the property was
"a, IS7,11i an increase of Si7S.l30. as COM
pared with last year.
The excellent showing of the Seaboard
forcibly reflects the general prosperity of
the South. All during February shir-
ments of all commodities were large. The
movement of fertilizer shipments was
exceptionally heavy. not only through the
second month of the new year, but March
as we'll.
President Harahan has more than met
the expectations of the new interests in
control of the Seaboard i'm the manner in
which he has managed the property since
he took hold, last fall. He knows the
needs of the road, and the steps that he
has taken to improve conditions have re-
suited in increased earning capacity
The report for February is as follows:
19L3 19lI
Gross earnings s. ISL 1884 $3.50 l56 IS
Operating expenses. 14534isss l3sOsT 50
Operating income......... 627, 1865 So O2s IS |
Net income ................. I4l,H1.52 &5i3s9 !
4 Fish Tale.
Milton T.. Allies, vice president of the |
Riggs National Bank, returned yesterday |
from Florida, WHITTIER he went with in |
tent to ride horseback, fish, hunt, &c, !
ad lib.
Mr.. Allies declares that while his folks |
were worrying over the high waters in |
Sidney, Ohio, he was actually worrying |
lost i'm a Florida swamp, and was glad /
tc get back TO civilization after three |
days of disaster
Later on. going to Bellaire, on the /
west coast he Joined fishing party |