The Washington herald., 1913-03-29
Higher PRICES
ON ALL STOCKS
Europe Buys Back Stocks on
the Prospects Of
Peace.
ANOTHER BOND ISSUE
Chapin-Saeks Co. to Issue $780, 600
6s-Local Securities Quiet
but Steady.
~ 1. A. FLEMING.

It was great day on wall street yes
terday, a day of recovery, day of sat.
isfaction that once again the marke;
had been tested and had responded mag
nifcently, instead of going the other, as
had been confidently predicted by the
bears, in the event of any serious dis
turbance developing.
The serious disturbance was much
more devastating than any eventuality
considered possible. and vet the sold-Cut
condition of the stock market enabled il
to stand the strain without panic or the
symptoms of il. and yesterday il came
back with LAP points recoveries. and hell
well from the tap of the opening TO tho
ring of the closing.
There was no public interest in the
market to become flighty over conditions.
and the financial interests of the city
understood the recuperative power of the
people of the Middle West enough 10
know that they would work out their
own full recovery with the open-handed
aid of the States.
Foreign Influences.
But the fact that counted the most in
the reCuperation of securities was thu
action Of London and other foreicI
points. They reported peace in sight;
they did more. announcing that the allies
would yield to the terms of the powers.
and then they backed up their views of
the situation by buyinE stocks right and
left. London especially making great "f-
forts to regain her Canadian Pacific hold
iIgs. sold out during the last three
weeks.
The show of strength was sufficient to
make the shorts. heavily ovcrsold, turn
To cover. and between the foreign orders
ard the shorts covering. stocks made
good gains throughout the entire list
Canadian Pacific. which moved up five
points Thursday. added TWO and One-half
more. and held its advance well For
eign adviCcS on copper metal were cN-
Ccllent and tho copper and smelling
stocks moved up sharply. There wer"
few exceptions to the general rule OF
higher prices.
There was a material increase in thu
business. matter Of 600 shares
changing ownership. and the profit taking
in the last hour was not especially no.
tiC"sLble.
So far as known the Union Pacific is no
n-arer 4 conclusion in the matter OF
meeting tho courts decision OF diSpoS-
Ing of its Southern Pacific stock. held by
it then. when the order was issued The
directors seem to have reached the con-
CluSion that the problem may interest
thc southern Pacific Company and that
the company should prepare to buy the
stock. paving for II with Central Pa
Gin" Company.
There were more indications that the
big financial inter, st on the street are
rot going to permit further smashing of
prices hy the bears. The general gains
in important stocks is shown in the list
Ncv bond Issue.
Til, thapin- Sacks Manufacturing Com
uauv il about to put out S0O.Wo first
MORTGAGE : per cent sinking fund bonds,
maturing lH2>. The continental Trust
Company will be trustee.
The company is obligated 10 pay into
tho sinking fund and on interest account
8. Sc each month for a period of five
Years. the amount to be increased there
aCter so a. TO retire the issue at ma
turity'
Back Of the bonds will be all the real
estate and Other property "f the cOrpo-
ration in the District of Columbia, val
uad al Sl.c50,0OO.
The record NJ the Chapin-SaCks Manu-
fa"tlrinG COMPANY has been one of won
dorTul surcess sine" it, Incorporate ton. 1t
MAS Incorporated in Virginia MAY !. 1901.
TrS original capital stock. $1,000. has
been increased 10 s6O0."1U. and the busi-
ness increased to large proportions.
From 1903 to 1872 S per cent dividends
were paid. and in 1917, 10 per cent.
The company operates plants here and
in Richmond. WebhCryille. Michigan,
Woodstock. Va and Ruclleycstown. Md.
The assets and liabilities follow:
Year cndcd Srr;cmbcr 70. Iole: