The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-04-03
STOCK MARKETS
FAIRLY STEADY
Some Bear Pressure, but No
Important Price Re-
cessions.
LOCAL STOCKS ARE QUIET
Interesting Georgetown Gas Statistics.
Commission Busy on Accounts.
Gossip of the Street.
BY Z. A. FLEMING.


There were about as many gains as
there were declines in the market on
Wednesday. Immediately after the open
ing profit taking by traders who COM
menced buying last week gave the list
about three-quarters Of a point recess
sion. The plea that the railroad COM
panles have made with Gov. SulZer to
prevent the signing OF the ''tull-crew'
measure really helped along the bears,
the bill having Received the signature,
really putting double crews on trains, IN
creasing expenses and carrying useless
labor-thereby creating an artificial de-
lnand for TINS sKIIleo iaDor. 1nese are
the claims made by the railroads.
LONDON was selling stocks IN pront-
taking movement while the failure of a
big German concern, concerning whom
the street knew little and heard less, was
made "A bear argument.
Bears also tried TO make capital of the
report that Gov. SulZer had brought
Samuel untermeyer to the front again
10y requesting his presence at the capitol
in Albany for the purpose OF discussing
Stock Exchange reforms. Just why
any other man familiar with Exchange
methods would not have served the pur-
pose, other than because OF the antIp-
athy of the attorney OF the PuJo COM
mission, WAS not limited at.
No Union Pncifc Plan.
Despite these influences, the bears
made little Roadway, and there were
nearly many gains as there were de-
clines. The bulls rallied to the defense
OF values early in the afternoon ana
made good headway until the story that
Judge Lovett's mission TO Washington
had been a failure; then the list weak
ened little, going of Lass in the last
hour of the session.
Judge Lovett announced to the press
that he had been going over the various
details of the plan with the Attorney
General, that the latter might be thor
oughly familarZed with the situation:
that he had left number of documents
with that official. who would 90 over
them carefully. and that another con-
Terence probably would be held later |
on.
The selling of Union Pacific increased !
after this statement. and il lost a point |
Reading was off 5-S: Canadian Pacific |
s-4; Steel, 1-2; St Paul, -. and Reading. |
So. The undertone of the market was |
satisfactory.
The gains were : points on Snuff. IS |
on Lehigh, points on Frisco second |
preferred. and a point on Reading pre-
ferred. Rubber was one of the strongest |
industrials, with ] rs gain. while Ameri-
can Ice was point higher.
1t was only here and there that either
The bulls the bears won decided VIC
tories.
Tariff Gossip.
Some or the close observers hone to
find something encouraging in the tariff
revision message to Congress on Mon
u-bN Sc
not stated
The tariff bill, if the President and
Chairman Underwood have their way,
VIII go through as one bill. not schedule
by schedule. thereby avoiding the seri-
Gus rock Of local issue"
But the Democratic caucus will have
the final say. and il is safe to predict
that the local issue" will have to down
The London Statist reflects the general
dea of all the great manufacturers for
he smashing of the tariff wall that has
Kept them out of the American mar
lets. II
NO doubt the impression Of high du-
les TO large extent locked the door i'm
he face of European shipments and the
prospects of lower duties has naturally
gwen rise to brighter views regarding
he future OF trade. 1t is well known
act that the United States was once Q
/,
nest completely ousted under the late ;
Dingley and the present Payne bills has
Ieen an experience which. to say the i
east. has gone down badly with West In
Riding manufacturers
1t can, therefore. be said that the s
Whole of the West Riding is today sim Il
ny waiting TO see what the American 4
senate will do with Schedule X" n
Il. Paul Extends Maturing Bonds.
The Chicago. Milwaukee. and ST. Paul 8
railway Company hass made arrange
nents through Potter Choate & Prem L
ice and Harris, Forbes & Co, to ex- "
end S2.1o5.o0o Milwaukee and Northern o.
Railroad Company first mortgage bonds
NTH Sune !, 1884 at an interest rate of | I
Il per cent, payable semi-annuaIIy June
and December also like arrange e
nent to extend the S5G2,0O0 CONSOLE G
ated mortgage bonds of the Milwaukee =
nd Northern Railroad Company to
une l. 1884, at an interest rate of Az
er cent, payable semi-annually June !,
nd December /.
Under this arrangement the holders OF
hese bonds are given the privilege of .
aving their bonds extended so that they y
1ill not mature until June ]. 1884, by III
epositine them with the Farmers Loan | ]
nd Trust Company, of New York City, A
nd paving SIS for each first mortgage S
onds SO deposited, and SO for each .
Consolidated mortgage bond so deposit n
Il. The coupons due June l, 1913. are to 7,
q retained by the owners of the bonds liz
pon so depositing their bonds with the La