The Washington herald., 1913-01-16
WALL STREET GOSSIP

Margin calls Indicate that more iiaulda-
ton is pending In some of the industrial
issues
1t is reported from Western sources
that stock is for sale In a plumber of the
leaders for the purpose OF protecting
unmarketable holdings elsewhere. 1t may
be held back for rallies
The short interest is now said by ex-
,perts to be larger than at any time for
weeks.
Commission house advices that have
been favorable TO purchases on moderate
recessions are now recommending sales
OF the Industrial tarirr-protected stocks.
Pennsylvania. New York Central, and
Brooklyn Rapid Transit are being rec
commended by several big houses as pur-
chases on breaks
market operators, Is reported still
bearish.
professional traders are saying that
wilson will run amuck in the Presiden-
tial chair because of inexperience, just
as much as Roosevelt did.
&c Il iNSiutIt VI Int american
sugar Refining Company, appeared yes
terday before the House Ways and
Means Committee and submitted a state
ment, In which the company went on rec
ord as being in favor of a reduced tariff
on sugar. A moderate reduction, IL was
stated would accrue to the benefit Of the
consumer and would neither increase for
eign values on raw material nor increase
the renners' margin Of profit.
spaid-Best opinion here Is that the
trend Is distinctly downward. and there
Is little change for anything more than
moderate rallies from time to time The
damage to the California fruit crop Is
oearish on Southern Pacific and Atchi-
son.
Weakness in American Telegraph and
Telephone was a disturbing feature, that
issue being purely an investment stock,
IN which there has been no speculation
lot a considerable time past. Traders
said the selling resulted from fear that
the company would be prosecuted under
the antitrust law. vet IL may have had
us origin in an entirely different cause
some OF the selling has come from abroad
and may have been precipitated by the
break in National Telephone OF Great
britain. which fell from ~ TO lOs in the
London market on Monday. following a
court decision fixing the basis on which
the government could take over the
property.
with great emphasis IL is declared by
experts in the trade, copper share divi-
dends are safe and that even ar X ar
10 per cent pound for metal there will
be no reductions. rumors to the CON-
trary notwithstanding
Recovery Of the market was a feature
Of the last hour of trading and WAS due
TO a belief on the part OF professional
traders that Mr.. Wilson would not talk
SO much after the public criticism 10
which he has been subjected during the
last few days. Some investment buying
on scale down made its appearance
The important interests are holding
aloof but are inclined to be bearish as
long as Mr.. Wilson keeps talking
There Is a letting up of business and
pig iron IS yielding slightly in price as
wen as copper metal. Fundamentals
are sound and a sharp recovery should
come as soon as political considerations
are discounted.
Canadian up two points in London
Looks like the foreign situation has inn
proved considerably.
Senator Cummins yesterday introduced
bill imposing a tax OF 10 per cent unon
all stock exchange and board of trade
transactions wherein a seller disposes of
products not owned by him. The meas
ure is intended to make trading in
futures on agricultural products pro-
hibitive.
The Reading company has declared
the usual quarterly dividend of l per
cent on its first preferred stock.
Four per cent dividend on MCKEE Plate
common.
Trenton, n. i'm reply to stories n,
unsettled conditions in Wall Street and
threatened panic, published in some of
the New York morning papers. Presi-
cent-elect Wilson authorized his secre-
tary to issue a statement calling atten-
ton to the fact that there was nothing
IN his Chicago speech or his various
ether speeches delivered since his cleo
ton that differ from the views he ex-
pressed before the election.
S. B. Chaplin & Co.-while general Sem
timent regarding the position OF the stock
market continues depressed, IT is real
lied that after such recent heavy Noui-
dation and sharp declines in prices COW
ering OF shorts is likely to cause fire.
quent rallies. Moreover, such fiuctua-
lions as is usually the case when senti-
nent is running all one way may occur
when the least expected.
The above conditions reflected prac-
ucally what occurred in to-day's mar
ket Some fresh weak spots were un-
covered which were reminders of some
recent overtrading on the bull side by
some OF the local operators.
The break in Rock Island nrefsrred NJ,
two and half points to the low price