The Washington herald., 1913-10-08
WALL STREET GOSSIP

| Childs-Traders are looking for a rally,
but are watching Steel, and if that has
another sinking spell they will hammer
the general market. Good selling of Steel
is still in evidence. Keech Loew sold 500
and bears are increasing their line. Lon
don is doing little. Copper stocks look
like the best proposition, having a strong
trade position in their favor. believe
| Can is a purchase.
At the regular weekly meeting of the
executive committee Of the Union Pacific
Railroad only routine business was trans
acted. The full board of directors will
meet on Thursday of this week. and it is
impossible TO learn whether an announce
ment will be made regarding the So
called melon after this meeting. AS
Chairman Lovett is expected to leave
New York on October 10 the belief pre-
walls in some circles that the matter will
be definitely decided prior TO his depart
ure
The Great Northern Railroad has
placed orders with the Illinois Steel Com
pany for 5000 tons of steel rails for 1914
delivery.
London Copper easy, of IS Cd.
A New York Stock Exchange house has
received the following reply from lead
ing financial interest in Berlin to their
query as TO whether or not foreign steel
manufacturers will compete in our mar
ket under the new tariff: Competition
only if situation of your steel market is
favorable. Not likely at present prices"
The Pittsburgh correspondent Of the
Journal of Commerce says that a re-
duction of 81 a ton will be made in weld
pipe. a revision OF the discount lists OF
manufacturers will be issued about OctO-
Der 10
The pamphlet report OF the Northern
Pacific Railroad Company for the year
ended June 30 has been issued. The de-
tails of revenues and expenses, as well
as taxes for the period. were published
August Is. The balance of income &C
count is shown as follows: Operating in
come, increase, $2,i73,5S2; other income,
decrease, $4O5,g7O; total income, increase,
s., O67 SCI. Surplus, increase, 81. SO, zoe. The
foregoing balance for dividends is equal
TO S69 per cent on the $2iS, 10000 capital
compared with 7.93 per cent
in the previous year.
f. and C. Randolph to ". B. Hibbs &
Co.-The market opened quiet and gen.
any anu Ant llTsl muir
ruled extremely dull. with short cover !
ing, causing the strength to persist |
the general list. When It |
was seen, however. that no outside buy |
ng was following up the purchases made |
by the short interest, A vigorous drive |
was made at the market in the second !
hour, under which stocks broke sharply, !
he support being very poor. Leading is |
sues fell point or more from last |
nHavl.N Al
,hases cut down most of the losses to 1
fractions. Steel, as usual. was the heav-
est. Canadian, on the other hand. was
strong from the start Union also re-
listed the downward tendency and yielded /
,ut little &
Colorado Fuel and Iron Company m
erests figure that inasmuch as the East
I'm steel companies are unable to COM /
'ete in its field, owing to the protection
Ifforded by freight rates, it Is not men,
ICED by the reductions in duties on steel
On the West the long upgrade haul from
he Pacific seaboard to the heart of Col
radc Fuels territory is also a bulwark |
against outside competition. while the
in making its extreme West
IN shipments. has the advantage of the
own grade. The company is at present
from the miners strike, which
liant at Pueblo.
The recent strength in Great Northern
Tas explained by the statement of Sep
ember gross, which showed a gain of
!, 005.OO0 by comparison with the CORES
onding month last year. This remark {
BILE showing tended to minimize the i'm
ortance of the unfavorable reports for
he previous month, issued by many
Dads
United States Government 4 per cent. :
onds are weak, and brokers attribute !
he weakness in this issue to the same
actors that have affected 2s For the !
of bank investments the two '
sues are now selling almost on a parity. c
n investment at 100 in 100000 of the 4 !.
er cents, to be used to secure circula- q
on, would net a bank just so more in
year than-a- similar investment in the e
at %. When the latter were weakest I
lie Government Is presented a better 7
ppearance, owing to the fact that many
Iyers disposed of their Is in order to 3
ny the As. There are not many bonds
either class in the hands of dealers, g
I'd they do not look for much further
eclines unless new conditions unex-
.ctedly arise. \
The Pensylvania's anthracite properties a
} not, in themselves, appear to have
zen directly profitable investments 2
-hatever benefit the Pennsylvania has :,
ceiVed must have haau an indiract ana | *