The Washington herald., 1913-03-09
Oil and Tobacco Subsidiaries
Show Great Losses on
Reopening Threats.
MONEY PLENTIFUL HERE
Big Increase in Deposits-Local Sc
curites Firm-News of
the Day.
Ry I, 4. FLEMING.

The bears on Wall Street were i'll Glove
Yesterday. Again Berlin was the storm
center, with a small-sIzed cyclone start
ing in Washington. the two dong muct
damage The short did not care to taxi
profits. so inviting were conditions lo
prolonged operations on their size OF th'
market
New loans were made, practically tht
lows of a two weeks ago. but, then
there was prospect of better things
To-day the Street is gloomy and can see
nothing TO encourage il TO better
thoughts. Germany needsp money and
is willing TO pay high for it. The re-
suit is that there will be further gold
shipments. further reducing the cash IN
The vaults of the home center. Over 3d.
$4,000 gold went out ON yesterday :
steamers.
,icrrnamN'S ambitions. her fears of a
strong. united Balkan State have made
her strengthen h"r sin"NS of war. ana
France is moving in exactly the same
direction strengthening the war chest
The further fact that tn" Balkan war
= not ended. despite dipIumati" assur-
au-cs is another bear argument.
The Washington storm.
The whirlnInd that remtered here had
." do with the possibility "f re-opennC
Of tho Standard oil and TonacC" diss"iu-
ton suits. ar the filing OF new suits for
further action. Fear is q factor aIWaN ;
10 he counted on.
Immediately there came Il rush Of stock
i"r sale, price cuttInS little Inquire.
Various Standard oil issues were offered
at /" to ~ points below previous figures
aud the slaughter in Tobacco was nearly
as had. I.Iggrtt y Myers lost II points.
American Tuhacr" l. I."rillard -
Snuff lost nearly i points.
No SUCH smashing declines IN special
TICS can occur without having a bad ef-
feet on tn" rest of the list. and This is
exactly what happened. one 10 " to
= ~ points covered the ranges of the
break In IL" list. with hut "n. good ad-
vance. 3-f of \ point on /. :. Realty.
r"nnSvivanm was strOuc. Half point
r"ver"d average. loss ON hut few stocks.
the majority going oil lal l..
Plenty OF Cash Hero.
Local hank.~s have ample cash and
. ":mpIain of lack of demand. The source
80 iA" great supply is cause of spccula-
U0n. True. the big crowds of the inau-
-ITal Rcck have left much money here.
out Of this but a tithe remains and yet
deposits in very many banks are at
nigh mark. The Riggs National leads the
MY with SI"5Go.GI d"prsitS and nearly
.Nrtl hank iS following suit in l"sSCncd
volume.
Thu ,iti2cu, savings = high at &S'",
~" d"l'uSIts.
Realty operations are greatly restrict
81 and there are not the usual d"sirah hle
iuqIIiries for money from this source.
The Washington Loan and Trust and
other banks have surplus funds seeking
employment.
There j. not the same investment move
ment that is usually found seeking Sc
i.rtions in Wall Street high sradc stocks
and bonds hut there is quite a good lucal
investment demand. though not as good
as formerly. ON" big block Of SnG9 bonds
was taken 10y an investor. seeking the
stability Of CUR local investments rather
than TIE worrying uncertainty that at
tends Wall Street investment operations |
these days.
A Growing Deposit.
The Christmas savings cub Of the !
United States Trust Company At the |
close of business yesterday contained |
SlCf,gH The weekly payments are being |
Kept up with r''markahle persistence In |
'li"att"us ar thar this fund will total !
s-Js'. .ohn $6n1Goh when diSburSed fo~ the /
% nUliIays late in December. What Il pow
er ii will hav" on Christmas shopping. /
" hat factor in merchandising C0ntinu-
I'd f"r wear or two longer at the same
ratio Of increas". Tho weekly payments
1r" made TO assure interest ds well as !
savings.
II would soom that tho saNinc habit
had 'r"v hold "u Washington, aud this
may perhaps "'""Iut f"r :. material per
'"nra"'' 81 rh" increasing .i"I"eits.
The Year in stocks.
w T. Hihh> y Co.. hIN.. prepared the
'"ll"Rin- tHhl' ~ tn" N"ar'D record to
late in tho local security market
>s'eS oI~n High Lnw rl''Sc
= M.-L. l