The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-05-27
NO IMPORTANT
COURT REVIEW
Rate Case Held Up-Stocks
Easier but Well Bought
at Decline.
MAY REACH AGREEMENT
Union Pacific Has Plan-Gas Shares
Easier-Our Greatness?
Gossip.
MAY REACH AGREEMENT
By I. A. FLEMING.

not come down and there was no an
nouncement from the Union Pacific Of
ficials of the successful solution of the
problem with which they have been
wrestling for many days.
With the opening the feeling was
favorable to higher prices and better
figures were established quite gener-
ally. but they were not maintained.
Decision after decision, then recess
and adjournment without the Mime
sofa case, Disguised traders. and some
of the shorts who covered earlier in
the day were on the bear side selling
before the close.
There was no especial weakness. just
moderate declines, save in Canadian
Pacific, which fell back 2 L. points.
being reported by traders as "out of
line with our and 10 per cent div
dend-paying Stocks" meaning that
present prices are too high from Wall
Streets standpoint. London selling is
having its effect on this stock
1t is generally understood that the
Union Pacific Southern Pacific people
have come 10 an understan ding and
that an announcement will be made
by Wednesday. and that the plan will
then be submitted to the Attorney
General This announcement should
be a favorable influence.
Good buying.
There was good buying on the soft
spots, especially IN such stocks as Union
Pacific, Southern Pacific. Reading. St
Paul. and the Hills. The totals sales
for the session were $4,000 shares, show
ing about two-thirds increase over the
business of some days ago, with the
best activity of the session in the last
hour, when many stocks resained at
least part of their earlier recesslohs-
Frisco second preferred rose to about
Saturdays closing. on the announcement
that provision had been made for taxing
UP maturing obligations, even at high
rate. thus saving a receivership
The April statement of railroads re-
ceived so far were not as satisfactory
as hoped for. Atchison and Union Pa
Cific showed substantial increases IN
operating expenses. thereby Offering an
object LESSON to the Interstate COM
merce Commissions in the necessities OF
freight rate increases.
The closing was much better than the
low. but considerably off. in fractions,
from the high. Tobacco shares were
firmer; Petroleum stocks easier.
Local Securities.
After standing continued selling pres
sure on Washington Gas for weeks, with
a degree of firmness that called out eX-
pressions of surprise, it has at last turned
the other way. The liquidation seemed
extremely heavy. and yesterday the stock
reached a new low of this movement OF
S42s from Alz. For weeks e4'sdoo "eie
the ruling figures.
THE hid price on Railway preferred
was lowered a little. and the stock sold
at 9oae0Ii Common. 90 bid
Nergenthaler was quite active for such
high priced specially and closed steady
at 2lSI4 after selling at 2lIi2a2lsls.
Railway Is Mere firm at SA- lele-
phone IS. los
Neglected Opportunities.
A correspondent submits the following:
We live in a great country, but II
we would wake up to the opportunities
at hand we should become much great
er. We let foreign countries far surpass
US in crop production and seem TO make
no effort TO improve or catch up.
"On the question of ocean traffic. we
are not great but small. in fact proper
tionately amongst the smallest.
The value of merchandise brought in
TO and carried out of this country in
vessels was valued last year. 49, at
6, 4Sl, 40. 423. and of this only the amount
of $50, 4J1. $50 was carried in and out by
United States vessels. the balance, S.lOs'-
DIS $50, was carried by foreign vessels:
of this while foreign craft carried So62
per cent, or out of every one hundred
dollars worth We only carried ss.S
worth
The total tonnage of American ships
entering and clearing our ports for the
year was 22.9l6.Oo0 tons. that of the
foreign ships being 6S,6li.00 tons. or
about 70 per cent
The nationality of the crews upon
liz
cent are born Americans.
You can get faint idea of the value
this would be TO the United States, when
We know that the tariff collected in
dutiable merchandise brought in amount
ed to $500 100000 last year.
And yet these pinheads sit in Con-
rress. and year after year let this state
OF things go on without giving it a
thought"
No Stop Orders in These.
4 veteran member of the New York
Stock Exchange, who deals largely in in
active. high-class, unlisted industrials.
was accosted yesterday by a number of
his brethren. many of whose clients had
suffered by stop-loss orders having been
reached, with a query from one as to
how many of his customers had been
caught on stop orders during the recent
Not one" he answered. There has
not been much of a decline in any of the
stocks of my clients" he exclaimed.
''Paradoxical as il may sound, l confine
my activities to inactive issues, and
there has been very little, If any.
change in prices in most of those
stocks"
Asked for an explanation of why his
specialties had gone OF so little in a
heavily declining market such as has ex-
listed for a month past. he replied: Il
account for 1t by the absence and diff
Guilty of Sgetting quotations. Bid and
asked prices, even, cannot always be
easily obtahped on such stocks as Singer
Sewing Machine, Otis Elevator. Ameri-
can Ghicle, Remington Typewriter, and
Score or more of others, good. high
class but inactive stocks. Holders of
these stocks do not hang over the ticker
watching for every fiuctuation of an
eighth or a quarter. Consequently they
do not get panicstricken in a declining
market"
Want TO Merge.
The meat of the circular addressed to
i:olders of New York Central-Lake Shore
collateral 81 per cent bonds. is this:
II IS per cent of the outstanding bonds
consent to the merger of the Lake Shore
with the New York Central. and IL such
merger is accomplished, then these hold :