The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-05-03
WALL STREET GOSSIP

WALL SlkEtl uUOOR
Central Railroad Of New Jersey for
March: Gross, decrease, $41s,262; net IN
come, decrease. s52s 57s; surplus, decrease
$565, SAG.
Bankers who offered ss5oe,oo Louis
vile and Nashville Railroad equipment
bonds at par on Thursday announce that
the issue has been oyersubscribed. Aalot-
ments were well distributed throughout
the country.
Chicago and Western shippers VIII take
immediate action to fight the proposed
per cent freight rate increase OF Eastern
roads They will demand proof that such
an increase is reasonable.
A subcommittee, consisting of Senators
Owen. Hitchcock, Shafroth. Bristow, ana
Weeks, has been appointed by the Senate
Banking and Currency Committee to pre-
pare a list of questions on banking and
currency matters to be submitted TO lead
ing bankers and experts throughout the
country The subcommittee will report
early next week.
MUIR don't look for anything but a
slight rally.
Rogers-Might rally a little, but l am
bearish.
Simpson-Think market will do better.
Foreigners show a surprising interest
in Rock Island Company. They buy on
every show of weakness, and have put
in an order buying on scale down. The
preferred stock has few friends for some
reason. 1t certainly should be more
than II points above the common stock,
which has no voting power.
Moler-Private cables report much less
pessimism at London. Paris and Berlin
than Wednesday, but say the disposition
Is to continue a cautious policy pending
an actual adjustment Of the Balkan trou-
bles.
1t is hoped that progress will be made
in this respect before the Ambassadors
of the great powers reconvene for another
conference on the subject on Monday. Our
stocks are fractionally higher at London.
chiefly on some buying orders from this
side and in sympathy with very sharp
rally in prices generally at Vienna from
Wednesdays panicky conditions there.
Directors of the American Cot
ton Oil Company will meet soon to act on
dividend. 1t is unlikely that payment viii
be resumed on common. although indicat-
ed earnings are satisfactory and are run
ming on a parity with last year. when 6.o
per cent was earned on common.
The Railroads Friday morning refused
to adopt the suggestion made by the con-
ductors and trainmen that they arbitrate
under the Erdman act The same objec-
tons that were voiced by the managers
in the firemens' case were made to the
Erdman act in this instance.
April output of Smelters. %. OoO. 600 pounds
of against -, 600 in March; Il 81, 900 In
February.
Erie Railroad will shortly apply to the
public service commission for permission
to sell s5,0o0.o0o equipment trust certifi-
Gates. The proceeds, plus cash payment,
will be used to purchase 5000 steel under
frame box cars, 1,500 hopper coal cars and
], 500 other cars of miscellaneous and spe-
cial types to serve the iron industries in
Pittsburg.
St Paul-March gross increase, 1913, 49,;
March. net increase. $44S. 4SS. Nine months
gross increase. 81, 32s, 5e3; nine months net
increase, SIT, 9s5.
E. and c. Randolph-The opening was
quiet with slight decline in the lead
ing issues. Before long. however, fur
Their short covering forced advances all
along the line. so that the market wore
strong tone during the first hour
There was stock supplied on the ad-
vance, however, which caused conces-
sions from this level. and by noon prices
were again back to Thursday night
close In the afternoon some steady
dribblng liquidation forced prices down
all along the line with weakness in
some special issues like Virginia Chem
cial, which sold off about three points
without any explanation of the weak
ness being given. The technical position
of the market seems to have become
weakened by the short covering which
was forced yesterday. Among invest
ment issues Illinois Central and New
Haven again showed weakness. For
eign sentiment appeared cheerful and
good deal of stock was bought for con-
tinental account. The money situation
shows an easier tone.
w. e. Hbbs & Company-President
Wilson is using the iubricating can IN
the Senate, greasing the way Tor the
tariff bill which will slide through the
House by the middle OF next week and
be taken up in Senate committee. He
is "loosening up" on patronage to a
degree that is causing delighted COM
ment. His system is similar to some
mems theory of religion-a system of
rewards and punshments. AS an object
lesson he . has rewarded Oscar Under
wood with several chunks of patronage.
He is waiting to see how some others
a Of on the tariff before he gets around
TO their cases. but is throwing out
liberal sops to those known to be
friendly to the administration plans, as
il to say Come on In. the waters fine"
All of this augurs well for speedy con-
Sidara tian Of the tariff in the Senat e