The Washington herald., 1913-03-25

The Reading collfer!es Will resume
operations today after four days idle
ness.
Brokers in the loan crowd report
good borrowing demand for stocks.
Most OF the leading issues loaned at
AZ per cent. with Reading loaning at
Az per cent. 1t was stated by brokers
making a speciality of this business
that there are no offers to lend either
Union Pacific or Reading. The manner
in which Union Pacific acts is taken as
evidence in some quarters that a large
part of that stock which was distrib-
uted since December last also has
been absorbed.
Childs-Improveme in the market
is due to better foreign news and the
impression that money will begin to
get easier. / believe selling OF stand
ard rails has been overdone. and while
there are still weak spots in indus
trials. the general market Is oversold
and should do better.
The Supreme Court yesterday ad-
for argument at the October term on
appeal from the Commerce Court.
The directors of the British Column
bia Copper Company are scheduled to
meet today. when. IL a quorum is OBJ
tainable. important matters are likely
to be acted upon. One OF special in
terest is the dividend for the current
quarter. From present indications. IL
will not be possible to secure a quo
rum.
Lehigh Valley gross increase. s1o2.-
376: February net increase, s35.922.
The American Steel and Wire Com
pany, a subsidiary of the United States
Steel Corporation. has advanced wire
operative today. This brings the wire
company's price up to that of the inde
pendent companies.
The next regular meeting OF the West
inghouse Electric and Manufacturing
Company will be held this week. and
II comes from excellent authority tha.
the retention of the common dividend at
the prevailing per cent yearly rate is
open to doubt.
The latest possibility in the Union Pa
cific dissolution plan is that the neces-
sary steps may be taken TO amend the
charter Of the Southern Pacific so as
to permit the company TO purchase a
considerable block Of the sIoss50.O0O Of
its own stock, now held by the Union
Pacific. This would relieve the Union
Pacific OF the necessity Of marketing so
great an amount Of stock during a Pc
riod when money is not plentiful.
W. r. Hibbs & Co.-President Wilson
has assured House and Senate leaders
that he is In accord with a reasonable
tariff revision; that he understands the
necessity of applying the principle OF
give and take in framing a tariff bill.
and that he will not maintain rigid ad-
herence to either the conservative or
radical factions OF the Democrats. and
that he will Join heartily in conferences
designed to bring about compromises.
This declaration OF his position tends
to favor the prospects OF conservative
tariff revision as against radical slash
ing OF duties, for the very reasons that
the bill is being prepared by a conserva-
tive majority in the committee: that the
Democrats OF the House will stand by
their committee because the rank and
file are not acquainted with the details
of tariff and have great confidence in
Oscar Underwood and his colleagues.
President Wilson admits his own un-
familiarity with the teChnicalities Of the
subject and realizes his dependence upon
the committee. He will listen TO the
arguments Of both factions when disputes
reach an acute stage. and offer his ad-
vice in settlement
The important feature is that he Is not
alisnfnE himself with either faction as
against the other through thick and thin.
1t can be stated with positiveness that
as soon as tariff revision is we'll under
way, with definite prospect Of settlement,
the President will not oppose taking up
other subjects of legislation at the extra
session.