The Washington herald., 1913-05-09

Regular quarterly dividends of 1S on
Underwood preferred and 1 per cent on
common.
Copper stocks Decrease 2s,73a, 162
pounds.
President Wilson told Leader Under
wood and Congressman Palmer that he
desired that currency legislation be
taken up at this session. 1t is now
proposed to have the House take a re-
cess for two or three weeks and let the
Banking and Currency Committee bring
in bill.
Government crop report-Winter wheat
condition May /. 91.9 per cent: indicated
yield per acre, 1876 bushels; total indi-
Gated. 1851 900 bushels: estimated area
to be harvested, 3o,9SS, 900 acres; condition
of rye, 81 per cent
Indications point to an additional en-
gagement of 81 100000 gold for export to
Paris by Saturdays steamer.
Moler-Applcation will be made early
next week before the Interstate Com
merce Commission for authority to ad-
vance freight rates 5 per cent The
special committee recently appointed.
consisting of Rea, president of Pennsyl-
vania; Brown, of New York Central:
Willard, of the Baltimore and Ohio, have
concluded their brief on this subject and
they are confident that the request will
be granted in view of the recommended
tons which will be supplemented by
some of the members OF the arbitration
board which recently awarded the in
crease in the wage scale OF the locomo-
tive engineers and firemen. 1t would
be a big bull argument on the railroad
stocks and the general market if this
privilege is secured.
Usual dividends on Union Pacific and
Southern Pacific have been declared
Reports from thirty-eight States show
no general alarm over economic none
tary conditions due to tariff changes and
income tax law. The bill exempting labor
unions and farmers organizations from
prosecution under Sherman law has
passed the Senate. No Southern Pacific
syndicate being formed. Receiver would
mean only trustee for Union Pacific's
Southern Pacific stock.
Prices for prompt steel bars angles.
and beams at Pittsburg and New York
have decreased in the past week from
81 to s. per ton. The base price, or that
for future shipment, has remained the
same. however. showing that only in pre-
miums have the prices changed.
W. v. S. Thorne has been elected a
vice president Of the Union Pacific Rail-
road Company, the Oregon Short Line
Railroad, and the Oregon Washington
Railroad and Navigation Company. Mr..
Thorne has beer head Of the purchasing
department of those lines for some time.
There is renewed liquidation showing
both in New York Central and New
Haven. This market has shown very
significant lack of response to such a
wonderful copper report
Onativia-Unless new liquidation should
break out in some of the investment is
sues, I look for higher prices.
Bank of England rate unchanged.
Proportion of the banks reserve to LA
bilities is now 1890 per cent, against
1920 last week. and compares with an
advance from 1890 to 81 per cent in this
week last year.
H. X. Bird-I believe the market will
go higher. These attacks on Steel,
to bring out stocks.
An officer of the Southern Pacific Com
pany, when asked whether the Attor-
ney General had threatened to bring
suit If the Central Pacific were not
transferred to the Union Pacific, en-
phatically said, mo, sir" At the South
ern Pacific board meeting yesterday the
problem was not discussed
One of the large copper selling agen-
cies this week has sold to date close
to 100000 pounds of copper at 15Y
cents.
E. & G. Randolph-The opening was
dull and heavy, but with good deal of
irregularity in prices. The heaviness
did not last long, and prices soon adj
vanced. This advance. however, was
in turn by dullness, when a |
vigorous raid was made against Chesa-
peake and Ohio on rumors that the
next dividend would be reduced The
rest of the list however, held fairly |
well within narrow limits. On the pub |
LEGATION of the Copper Producers state
ment Copper had moderate rally
but the strength in this stock was not |
very convincing. The crop reports We're
fully up to the most sanguine expecta-
tons, and about the best report ever
put out at this season of the year. 1t |
seemed to be awaited of for the purpose |
of selling stocks, however, and the mar |
ket declined from then on more or less
steadily up to the close with the tone
in the final dealings heavy