The Washington herald., 1913-10-01
WALL STREET GOSSIP

Missouri. Kansas and Topeka August
operating revenue, increase, S23S. 446: net
operating revenue. increase, Sl4,9l5: oper-
ating income, increase, 81, $40.
II. X. Evans-The market continues to
give every evidence of having been filled
pretty full of stocks in the past month
or six weeks. 1t is getting out of its rut,
and the tendency seems to be very de-
cided toward lower prices. Bears have
been afraid to sell much stock lately on
account of the prospects OF big Union
Pacific melon, which, il is expected will
be announced within a day or two. This
may give the market a temporary flip,
but if it does 1 believe that advantage
should be taken of it to get out of long
stocks.
Resolution offered in the House calling
upon the Attorney General as to what
action has been taken TO prevent ex-
ploitation of oil lands on Southern Pacific
Railroad pending action by the govern
ment to test railroads ownership.
Canadian Pacific for August-Net de-
crease, s756,7S6 two months, net decrease,
81. .OSS,S7L
National Railways Of Mexico for Au-
gust-Net decrease, 81, ,7S5, 4S2: two months,
net decrease. $3,oSs,61S.
In welI-informed but unofficial quarters
it is said that the syndicate which ac-
quired control of P. o. Gas will turn the
stock over to the Commonwealth Edison
Company. the latter exchanging 4 per
cent bonds for P. o. Gas stock on basis
OF 500 in bonds per share.
Western houses were sellers of Steel
and Union Pacific. 1t is said that all
Pittsburgh is short of Steel
Only routine business was transacted
at the usual weekly meeting Of the
executive committee of the Union Pacific
Railroad Tuesday morning. 1t is i'm
possible to learn when an announcement
regarding the long-talked-of melon will
be made, although it is believed in some
circles that il will not be before the
regular monthly meeting of directors, on
October 9. Mr.. Lovett stated on Monday
that his trip of inspection had been de-
layed and that he had now decided to
leave New York on October 10: therefore
the inference is that an announcement
OF some kind regarding the matter men,
toned will be made the day before his
departure.
hS SAttl biuhSbg 10 III n oNdAS VI ut-
preston. with the new tariff changes
the center of interest. Buying of steel
products is down to a minimum figure,
some independent companies reporting in
coming business at the rate of not much
more than 25 per cent of capacity. With
Europe offering steel billets, delivery to
be made at Atlantic ports, at 8 a ton
below the domestic quotations. con-
sumers find very little inducement to
make commitments for future delivery
Third Avenue continues to handle itself
very well. and. as we have said before,
will show less decline in bad markets
than most stocks.
The report on the currency bill Is con-
sidered quite remote. with the Senate
committee determined to continue hear
ings as long as the opposition is active.
Reading Company reports August net
income, all companies, decrease, S,o--,4O6;
surplus, decrease, sl,SSs.5H. Active ne
gotiations on foreign semi-hnished steel,
for round tonnages. bring lower prices
on domestic billets.
A syndicate, composed of Kissel, Kin |
nicutt & Co., Lee, Higginson & Co., and |
Harris, Forbes C Co., has been formed