The Washington herald., 1913-12-25
WALL STREET GOSSIP

WALL STREET GOSSIP
The regular dividend yesterday was
declared on Pan Handle.
The Great Northern Railroad Company
declared usual quarterly dividend OF 81
per cent
The American Smelling and Refining
Company has advanced the price OF lead
from to 40
In its annual report to be issued within
few days, Southern Pacific will show
10 per cent surplus earned for stock,
| compared with 7.92 per cent In the pre-
Yious year. Since June 30 last the num-
Der OF stockholders has increased from
1852 to over 1900.
The United States Steel Corporation,
under its profit-sharing agreement with
| employees for the year 1914. will offer
! common stock for subscription at S57 a
share and preferred stock at slO5 a
| share.
Chicago and Atoms traffic began de-
clining in. October The decline is quite
marked now. although for the first five
months Of the fiscal year the decrease
\ was only S16S0oO. or "a per cent, COM
pared with the heaviest period on record
year ago. Alton is doing a great deal
OF improvement work
The New York Stock Exchange has
admitted to the list Peoples Gas, sub
scription receipts for capital stock, first
instalment S per cent paid: 1t also has
| admitted TO dealings Canadian Pacific
rights.
George B. Leighton. for years a stu
dent OF the railroad situation, specially
in New England. says that for the pres
ent everybody in New England is will
ing to put up with a less efficient serv-
ice. that ultimately operating conditions
will right themselves and the patrons Of
the New Haven will have as fast trains
and as long nonstop runs, as any road
in the world.
Lewis johnson & Co.-The currency bill
is signed and in better shape than
seemed likely during its discussion in
Congress. The chief difficulty in the
actual working of the currency bill is
likely to be in the too large number OF
regional reserve banks. 1t will take skill
satisfactorily.
The bill, however, is a great step for
ward in the financial structure of the
country and undoubtedly will prevent
reoccurrence of such a panic as in 1907.
At the moment, however. the difficulty is
not with tight money, but with declining
trade and lack of confidence. The bill
therefore will have no immediate effect
in this respect excepting in so far as it
helps to restore confidence. 1 believe II
will aid quite materially in this direc-
tion. In the meantime sentiment is bet
ter both here and abroad. The London
bank rate is unchanged. The changes in
London prices are not important.
w. B. Hibbs & Co.-The utterances of
the President at the signing of the cur
rency bill was quite a treat as compared
with what has been handed out by
previous Presidents in their public ut
terances, in which 1t was a case of al
ways swinging the big stick" conse-
quently the present method should make
for the constructive side and II the pub
lie interest were larger-or rather il the
public would realize the changed condi-
tions 1t would bring about the restoration
of confidence and so much sooner higher
prices.
1t is rumored In good circles that the
American Can Company will shortly be
able to announce that the administra-
ton is giving them a clean bill of health,
and we have Mr.. Wilson's word for It
that there are quite a few corporations
that are working on the same lines.
II this isn't good then we might as well
60 out of business"
New York Financial Bureau to W. B.
Hibbs & Co.-Commission house buying
has increased materially. The main
argument made for higher prices in
cludes as chief points the currency and
trust developments. ..st
Accumulative orders are reported un-
der the market for Missouri Pacific They
are from high-class sources.
Reading and Union Pacific continue to
be the speculative bull favorites, judg-
ing from the majority of private advices.
A-monSy furry is expected toward the |
end OF the year on account of world |
wide preparations for January disburse- |
ments.
1t is reported that the Secretary of |
the Treasury has made plans to relieve
any monetary stringency by Treasury |
funds during the readJustment to the |
new currency law.
The buying of the Copper shares is |
reported to be of better quality. Boston !
is said to be bullish on them.
Notwithstanding the change of heart |
by the administration. the railroads viii |
not order supplies Of steel heavily until |
the freight rate situation has further |
cleared according to good authority.
The stock market outlook for. 1914 as |
seen in London and Paris is not en-
The recent rise In Southern Pacific has
been accompanied by a rumor that the
intends to stave of a suit by
agreeing to sell the Central Pacific. Conn
pliance wi h the law, or what the Depart
m mt of Justi-e conceives to be the law.
would be comparatively easy matter in
this cacc. for there is a buyer at hand. I
the Union Pacific being anxious to obtain
the Central Pacific, and having the money
available, II the property could be Sc
cure :. Those who talk Of a settle emit
Of the matter out of court express the
-. .n--.U g.. II. u