The Washington herald., 1913-08-23
WALL STREET GOSSIP

President Wilson told Senator Tillman
yesterday the Mexican situation had i'm
proved. The market rallied on this news
The subtreasury gained s1,711,OO0 from
the banks on Thursday. making a cash
net gain since friday of s4924,OOO.
Liverpool cotton opened easier, 6 to ~
off. At 1870 p. m. cotton was easy, to
81 net lower; spots quiet; prices easier,
5 points OF; sales, 1000 bales.
Liverpool wheat opened steady. 4 to Z
up. Corn firm, Is TO u up. At 1:3O p. m.
wheat was steady, i to 4 up. Corn firm,
3 to 4 up.
Wabashs June gross receipts increased
s1g7, Il9; net earnings increased $1S4,1 ,1O1.
Fairly general rains in Illinois. Kan
sas, Missouri. and the Ohio Valley. No
frost in Canada, with a little higher
range of temperature. A to IS degrees.
Generally clear in the Northwest; only
81 inch rain at Duluth.
Active brokers are said to hold that so
long as SouInern racine continues 10 De
offered freely at relatively low prices.
stocks Of the same class, such as Atchi-
son and Baltimore and Ohio, cannot be
expected to show much Improvement
Some conservative interests are re-
ported to consider Erie common to be in
a more promising position than Missouri
Pacific as regards dividends and to note
the speculative possibilities of Erie in
connection with ability Of the company
to pay full dividends on the preferred
STOCKS at any time.
Investment firms are understood to
have a favorable opinion of Chesapeake
and Ohio as a 4 per cent stock around
the present prices and to feel that the
next change in the dividend is likely to
be an increase.
Floor gossip Is said to indicate some
large professionals are inclined to sell
such stocks as Amalgamated, Steel and
Union Pacific on rallies, attacking other
issues directly concerned with the corn
crop damage to bring about a favorable
covering basis.
Well-informed sources are reported to
find excellent absorption of the leading
steel and copper stocks on expectations
of favorable statements of orders and
supplies thought to be well indicated by
the latest trade developments.
There is nothing at present In sight to
affect the market particularly one way
or the other, but a good deal of stock
seems to have been distributed on this
rise, and as the Southern Pacific syndi-
cate time limit nears its term, support
seems 10 De less IN evluence, ana the
people who are responsible for putting
up the market seem to care less about
maintaining it.
The Mexican situation absorbed about
all the attention yesterday. and liquida-
ton was sufficient during the early trad
ing to send prices off about another point
for the most active issues, but there was
good support in Southern Pacific Union
Pacific, United States Steel. Reading, and
American Can preferred, and the
market made fractional rallies during
the afternoon on this and a statement
given out at Washington by Senator Till
man Of South Carolina to the effect that
President Wilson had expressed himself
as still optimistic of an early and salts
factory settlement Of the whole Mexican
trouble.
A representative of the Southern Pacific
syndicate says there is no truth in the
report Of a hitch. He says also that
while the Southern Pacific company has
filed an application with the California
Railroad Commission for authority to sell
at higher rate of discount the remain-
ing 5,000000 Of an issue of equipment
trust certificates that was made several
months ago. it does not follow that the