The Washington herald., 1913-03-30
MARKETS---FINANC E---COMMERCE
WALL STREET GOSSIP

With sentiment improving as to politics
here and abroad and the money situation
becoming easier, two Of the strongest
bearish arguments are changing into rea-
sons for buying stocks. says prominent
institution.
1t is stated confidence In the outlook for
copper metal was indicated by the decla-
ration of the regular Anaconda dividend
and that since this announcement there
has been more general buying of Amalga-
mated for its income yield.
A floor trader remarks that during the
extreme weakness Goodrich Rubber
has been very firm and that there are in
timations of pool operations based upon
favorable dividend developments.
According to an active interest, the fact
that Union is selling points below Lehigh
and that both are 10 per cent stocks has
up to this time operated against aggres-
sive buying Of the latter issue.
In the opinion of observant operators.
the concentration of stocks in strong
hands is clearly indicated not only by the
resistance to bad news. but by the in
creased volume of business on advances,
with reduced trading on the declines
Well informed sources state while the
usual spring advance in the stock market
generally begins under apparently unfa-
vorable conditions. a dihicult combination
of circumstances has appeared this year
keeping the general list within a trading
range and tending to delay active bullisn
operations.
Rome-Herbert l. Satterlee. son-ir!aw
of j r. Morgan. said today: My father
in-law's condition is satisfactory. and the
doctors have told US there is no occasion
for alarm" Mr.. Satterlee said Mr.. Nor
gan had not left his apartments since last
Sunday. when he suffered slight relapse
while attending Easter services at church.
The buying of Reading is accompanied
by a revival Of stories of an intended dis
tribution of assets. but ii was insisted
that such tories have alway been circu-
lated whenever an upturn in Reading oc-
CURED. London was a moderate buyer
Of the international issues, the foreign
purchases being estimated at Eco shares.
mostly in Union Pacific, Steel. and Copper.
Childs-I see no reason to change posi-
ton on the market. Stocks look to me
as II an advance might be sustained
for some time. and believe they are
still a buy I favor Reading and Copper
especially. Railroads hurt by flood may
act heavy for a while, but all the rest
should he bought. in my opinion.
F.. and c. Randolph-There was some
irregularity and hesitation in the early
dealings but the market soon developed
q strong tone and the strength increased
as the day wore on and was well main-
tanned up to the close Issues like Read
ing and Union. which led the advance
in the standard rails. gained nearly two
points. and the tone was thoroughly
strong in all quarters. There was more
aggressive buying than has been seen
for some time past and this buying was
successful In forcing a very considerable
amount of short covering. The highest
prices of the day were made shortly
before the close. and net gains from
fractions to two points were almost uni
versal throughout the list. There was a
disposition to minimize the flood dam
age reports and expatiate on the i'm
proved political and monetary outlook
abroad. The bank statement is fairly
favorable.
The Great Northern Railroad Company
declared its usual quarterly dividend of
! "a per cent.
". B. Hibbs & Co.-An indications
point to a very strenuous and obstinate
struggle between the moderate tariff re-
visionists and the extreme low tariff
men in Congress The low tariff men
have been sounding President Wilson re-
Gently to gauge his attitude, and they
say they believe the President. whenever
il comes to showdown between
moderate tariff and a lower one, will
stand for the lower.
They claim that his utterances in his
public speeches are echoed in private
gather from his general attitude that
be favors welding the pruning knife Wig
orously on existing rates.
The advocates of moderate revision
are confident. however. that President
Wilson will not favor reductions which
will imperil business and industry.
The danger in this situation lies in the |
fact that thus it becomes a matter of !
mere personal opinion whether radical |
reductions will be hurtful to industry or |
in the end be helpful
The moderate revisionists claim that the !
Underwood tariff bill pares rates down !
to the quick and will resist further !
slicing.
The size and vulnerability of the short |
interest will still continue to be the main |
factor In this market: Any aggressive |
move against tnls WOuln pToO- 1
ably cause heavy covering. which would |
force prices up sharply. Aggressive bull !
sh operations, however. seem to be alb |
sent. and indications are not sufficiently |
favorable for any leader to undertake !
such a movement courageously.
Virginia Railway for February: Gross, |
S.IS.197: net, sc5s,;s56: surplus. s6514nG.
Central Railway Of Georgia for Feb |
ruary: Gross. sl.o9a55i: decrease, sl23,- !
ls;: net. sl7S..6s: decrease. sl6O,359
Yazoo and Mississippi Valley Railroad |
for February: Gross. ssiS.a36; increase, |!
S.. or: net. $13.475; decrease. $4S.20l.
Chesapeake & Ohio Lines for February: |
Gross, s,271; increase, s2l2 25l; net, $751;
7G6: decrease. S23,1S.
Southern Pacific Company for Feb
ruary: Gross. s1o.453,5iO; increase. $780,
7s6: net. 1884: decrease, $l66.345.
Wisconsin Gas and Electric for Feb |
ruary: Gross, s1.0i3: increase. Ss,S24: net.
slS939: increase. sl.042
Pacific Telephone and Telegraph Com
pany for February: Gross. $,A1, ,767: in
crease. 1886: net, s3SS. SO: increase. SI9.9l2. |
Illinois Central Railroad for February:
Gross, $5,159.a69 increase $4l6,6ss; net.
S9S1, ,2S5; increase, S40SS35.