The Washington herald., 1913-11-15
Markets, FINANCE, COMMERCE
The pace was too rapid at opening. but
with slight recessions the tone is good.

The pace was too rapid at opening. but
with slight reoessions the tone is good.
Strength was shown In all departments
OF London market. and Americans were
| fairly buoyant under influence of the ap-
parent Improvement in the Mexican sltu-
alton. Sentiment toward Americans was
favorable. and belief prevailed that Lon
don would buy here in course OF the
day.
The Mauretania arrived with 5000
gold for Heldelbach. Ickelhelmer &, Co.
The Census Bureau reports during Oc-
tober 81. sos bales running cotton were
consumed. against f5e.S7s in September.
z. g. c. Randolph to w. B. Hibbs &
Co.-The advance which was in progress
on the announcement OF the Mexican sit
uation was more encouraging. caused a
further advance in Europe yesterday
morning. and our market opened in SYM
pathy at advances averaging about a
point in the active issues. The highest
prices of the morning were made In the
first few minutes of trading. however, on
urgent covering by room traders. Stocks
were freely supplied on this advance, and
prices soon began to recede, and by noon
had lost good part of the early gain,
and weakness once more developed In GER
tain quarters. New Haven went through
its rally performance Of making a new
low record. and Missouri Pacific showed
decided weakness. The rest Of the mar
ket grew dull on the recession, and
trading fell OF 10 a minimum. Active
issues ranged fractionally above Mon
days close.
The Chesapeake and Ohio is inquirfng
for 1000 steel cars and twenty locomo-
tives, and the Missouri Pacific Is in the
market for 1900 tons OF rails. Stocks of
steel in the hands OF jobbers and con-
sumers are at a very low level, and a
prominent steel man says that he looks
for an Improvement in orders before a
month.
The Missouri Pacific notes maturing
next June are selling on a II per cent
basis. The bears say the company can't
pay them and has a very small chance
OF renewing them.
The underwriting agreement for the
seI.0o0,000 New Haven bonds has been ex-
tended from November Is to December l.
The move in Central Leather has been
pany and think the Shearson- Hammill in
terests have had a good deal to do with
IT. There Is talk OF good earnings and
assurances that the new tariff will not
materially hurt their business
The known movements of money fer the
week ended with the close of business
on Thursday indicate gain in cash by
the local banks OF s7,sIs059 The banks
received net from the interior by direct
express Asl5.o5s and gained in addition
from the subtreasury $s.oO30oo. The fig
ures do not include the $4,000 in gold re-
ceived from London on the import order
OF Heidelbach, Ickelheimer & Co.
There is pressure on the Missouri Pa
cific and Denver and Rio Grande on the
theory that the recent changes in the
board OF directors of the Manhatton Rail-
road marked progress in the elimination
OF the Goulds as the power In the finan-
cial world, and that these interests. IL
eliminated from the Missouri
Pacific management, might have a good
deal Of stock for sale. Missouri Pacific
has always been the pet property Of the
Gould family.
The General Electric Company declared
its usual quarterly dividend Of 81
Chicago steel jobbers have reduced
warehouse prices on plates, structural
bars hoops, and sheets s. a ton.
Childs-Market holds rally well and
shows disposition to do better. So far |
there has been little short covering, and |
the market should do better
London strong on improved conditions |
In market Conditions in our market are |
favorable for big rally, and we believe |
that stocks should be held for good |
profits.
London copper firm: up Is Sd.