The Washington herald., 1913-03-21
WALL STREET GOSSIP

WALL STREET GOSSIP
and a good judge of market conditions,
says he believes the good stocks are in
an oversold condition. but liquidation
in the industrials keeps them from rail-
lying.
The 3l6,Oo0OOO Pere Marquette Railroad
8 per cent fifty-year improvement and
refunding mortgage bends. which were
sold at public auction yesterday after
noon for the account OF the Guaranty
| Trust Company. werc purchased by a
representative of the committee of per
| cent lotcholders, headed by William II.
Porter. The price paid was $4,000.
Baltimore and Ohio February operat-
ing revenue increase, s5so256 operating
expenses increase, SS3l .5i5; net operating
revenues increase. s2s,7ll.
| Proportion of the Bank of Englands
reserve to liabilities is now 1850 per
cent. against 41.70 last week. and COM
pares with an advance of from 1850 to
i5 is per cent in this week last year.
William Loeb. jr.. of New York. a di-
rector of the American Smelling and Re-
filming Company and other Guggenheim
companies. had a conference with the
Attorney General yesterday morning.
The nature OF the conference was not
divulged.
After several DAYS of dullness a good
demand for copper sprang up yesterday.
with buying on the part of both domes-
tic and foreign consumers. Orders book
ed for the most part called for delivery
either this or next month. there being
little demand for more distant deliveries.
The issue of sl9.oco.coo Missouri. Kan
sas and Texas Railroad Company two
year per cent secured gold notes re-
Gently purchased by Speyer & Co has
been approved by the public utilities
commission OF Kansas.
There are reasons for believing the
fractions are being accumulated. and
their purchase should be made upon fur
ther recessions is advised by large
house
Boston advices indicate the price Of the
copper metal is expected to go but little
lower for several months to come.
Bankers are predicting the movement of
gold to Europe will be over by the first of
money rates.
international bankers privately report
tn. death of King George Is not likely 10
compIcate the Balkan situation. Foreign
markets exhibit no nervousness over this
phase of the situation.
Foreign houses report purchases are be-
ing made for London account of stocks
which We're sold by London in recent
weeks. These include Union Pacific. Bal
timore and Ohio. and Canadian Pacific.
An investment house calls attention to
the market action of Pennsylvania. COM
pared with that Of stocks which have suf-
fered severe declines. The present prize
NJ Pennsylvania is not as low as il wls
in February. although general liquidation
has been the rule in other stocks.
Evans-1 can see no change in the situa
ton and my opinion is unchanged. look
for lower prices and would rather sell
stocks on rallies than buy on declines.
The Bethlehem Steel Corporation re-
ports for year ended December Il: Manu-
featuring profits. increase. s+5i.5'2. total
income, increase, 1854, $50; surplus. in
crease. Sass
President Schwab, in his remarks. says:
The Improvement in business during the
latter part of the last year enabled the
subsidiary companies of your corporation
to secure orders during the year aggregat |
ing Si7,05o.54 or 50 per cent greater than
the best previous year, and the orders in
hand at the beginning Of 1918. So. ~. Is. |
against the best previous record Of ST. |
31e.66o, would seem TO insure very salts |
factory earnings for the coming year.
Moler-Although the Bank of England : |
minimum rate of discount was kept un- |
changed at yesterdays meeting of the gov |
ernurs. its statement make5 a bad show |
ing. Its proportion of reserve to liabilities !
is now down to 401-2 against 40 3-4 last |
week. and 20 is last year. The decrease |
in its assets reserve for the week was
s., $4,000.
In view of the uncertainty of Satur-
days bank statement and events in the
European political and money situation
during their long holiday until Tuesday,
and our own till Monday. there will he
more disposition to go slow about making
new commitments to any extent today.
In the meantime the heavily oversnId
condition of the general list from the
Smelling episode Of Yesterday was So
clearly revealed during the afternoon
scramble to cover shorts that further
beariSh activity will doubtless he held
in restraint pending further unfavoranle
f. & &. RandOlph-The opening was dull
and featureless and the market remained
dull and professional all Thursday. After
within narrow limits a drive
was made at the market shortly after
. O'Clock, under which prices gave way
all around the room. Southern Pacific
sold down to IS Is. while Union sold
l46 3-4 and Steel 81 L.. But little stock
was brought out by this drive however
and the leading issues rallied vigorously.
other issues which showed rather
heaviness was Sears Roe
buck, Rock Island Issues. and Lehigh
Valley. The list as whole. however.
after the closing rally, showed but small
changes from Wednesdays close Euro
pean markets continue apathetic. for
eigners apparently taking no interest
in our stocks or in theirs. In
quarters it is thought gold
exports are about over. as the inflow
from the interior has been almost suffi-
cient to take care of the loss caused by
these exports. and as it Is expected that
loans will again be cut down, a fairly
good bank statement is expected
0TITSInE CErIIpTTv nnTrc