The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-06-15
WALL STREET GOSSIP
Goldfield goes on the curb Monday.

Reading will have earned by June 20
nearly II per cent on the S0,o0o,oo0 COM
mon stock. This could compare with 6.S2
per cent In 1872 and SIS per cent in ISL.
This estimate is based on ten months
earnings. the May shipments Of anthra-
cite, and present state Of the hard and
soft coal trade.
Further evidence OF an improved mar
ket position as a result OF the more favor
able attitude OF the large interests was
seen yesterday. We would look for con-
sentative buying opportunities In the ac-
tive stocks with the intention to add to
holdings on fair opportunities unless
really important adverse news comes into
view.
Rumor asserted that the Union Pacific
plan had been approved by the Attorney
General. and that definite announcement
on this point would be made on Monday.
The rumor did not specify what plan. but
1t probably referred to the proposal to
exchange some s3s.0O0.Oo0 of the Southern
Pacific stock for the Pennsylvania hold
ings OF Baltimore and Ohio. The street
has expected that to be approved, but
would like to know what disposition will
be made of the balance of the Southern
Pacific stock, amounting to about $751;
100000.
There were consumed in the United
States during May 5l0.i16 bales of cotton.
according to a report issued yesterday
by the Census Bureau. The stocks in
manufacturing establishments on May 81
were l,404,s57 bales, and independent
warehouses 93s,S09 bales. Imports during
the month were 1850 equivalent 500 pound
bales. and the exports 4sS,9zs running
bales.
An order has been issued by the Inter
state Commerce Commission permitting
to go into effect Immediately certain in
creased rates on grain on points in South
Dakota, Minnesota and Iowa to Duluth,
Superior. Minneapolis. Milwaukee. Chi
cago. and other milling centers. These
rates were suspended last February on
complaint Of shippers
Well-informed circles find that the vol
ume Of odd-lot buying orders during the
past two weeks has been the largest
since 1907. Investment brokers are re-
ported to call attention TO the outlook
for a more favorable United States Steel
tonnage statement next month. owing to
the recent increase in new orders.
A prominent operator has the impress
sion that through clever tactics the Reid
interests have caught big Boston
speculator and some other large plungers
in 4 heavily oversold position in Steel
and other standards and specialties.
S. B. Chaplin & Co.-The situation and
outlook has been so greatly improved by
events of the week that the recent de-
spondency has gwen way m a large de-
gree to a hopeful feeling as to the ru-
ture. As consequence. there is 4
marked revival of investment demand
for good stocks as well as bonds. Prices
have had a very sharp recovery from
the extreme low levels of early in the
week, and renewed weak periods are
likely to develop from occasional profit
taking and fresh bear movements. But
on the whole the general situation and
outlook is now sufficiently favorable to
advise investment purchases In any OF
the good railroads or industrial stocks.
The adjustment OF the Union Pacific
matter would relieve the market OF a
great deal of its recent apprehension.
and this is a possibility the coming week.
z. & c. Randolph-The second week in
June in the year 1918 has recorded in
financial history a distinction particu-
larry its own. Certain issues which had
been pending long time, issues of great
Importance. have been settled, and the
influence OF this settlement has been re-
flected in a market which in excitement,
irregularity, and sometimes contradlc-
tory movements within a short space OF
time, will be remembered for long
while. The Minnesota rate case has