The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-06-25
WALL STREET GOSSIP
Bird-Content is still a large borrowe
OF Union Pacific.


OF Union Pacific.
The general tone to the steel business
is better than for some weeks, although
new orders are not heavy. In this re-
spect. however. the Steel Corporation is
doing considerably better than in May
and in June will show a heavier tonnage
q. 600 tons per day at present compared
with 5000 tons for the first ten days, and
an average of 1000 tons in May.
II looks as IL important interests had
been deceived by Saturdays decision and
had sold their stocks. They bought them
back Monday and yesterday. As short
interest here was and is extended. the
advance was rapid. the selling was all
in small lots.
London Copper strong spot up lis Sd.
Futures up pound.
The Great Northern Railroad Company
has declared the usual quarterly dividend
OF / 81 per cent
The new order of the Interstate Com
merce Commission in the Eastern freight
rate case with its changed phraseology
will be issued Wednesday.
The Draper Company. OF Boston. has
reduced its common dividend from an
annual rate OF 20 per cent to Il per cent
by the declaration of a quarterly dtvi-
dend of per cent. payable July l, TO
stockholders of record June .. The regu-
lar quarterly dividend Of per cent on
preferred was declared.
Childs-Technical condition of market
much better, and further rally should
result.
Virginia Chemical made a new low
23-and it is quite generally believed that
no dividend will be paid at this time.
There is some selling in Chesapeake and
Ohio that looks like belated liquidation
in a narrow market
Simmon & Slade-We believe our stock
market should be bought on all weak
spots from now on. II looks to be well
liquidated, and We think purchases
around this level should prove profitable.
The syndicate which was formed by
Lee, Higginson K Co. and the Guaranty
Trust Company last year for the purpose
of underwriting the s14oooooo 5 per cent
debenture bonds of the American Can
Company was dissolved yesterday morn
ing. Syndicate participants were COM
PEELED to take SO 6-10 per cent of the entire
issue, the balance having been disposed
OF to the public.
Copper showed strength and activity in
a far greater degree than on any recent
day. The rise in the stock was helped
by advices from London which stated
that the opinion prevailed in that city
that the recent decline IN the London
metal market was largely que to snort
al, h.r TN n 10
metal market to further his bear opera
lions in the copper stocks.
American Cans showing OF earnings so
far this fiscal year gives promise that
1913 will exceed the record results OF last
year when a dividend balance of S,522,-
y32 was accumulated. January ana fep-
ruary gross sales increased II per cent.
April was also particularly good month.
and II Is likely that for the six months
to June 81, gross will show an expan-
sion of at least Is per cent.
The Anaconda Copper Mining Company
declared regular quarterly dividends of
IS cents share.
The American Telephone and Telegraph
declared regular quarterly divi-
dends of per cent.
The Attorney General held a confer
ence with Paul d. Cravath of the Union
Pacific yesterday over the terms of a
decree to be agreed upon in the Union
Pacific case.
Subtreasury gained s2,657,e00 from the
banks yesterday. making a cash net gain
since Friday of s4,53s.o0o
Z. & c. Randolph-London bought about |
,e.ooo shares yesterday morning. In the |
first hour stocks were decidedly strong |
On urgent efforts to cover. Financial !
sentiment in London and Berlin has de- |
cidedly improved. 1t is expected that |
he coming settlement there will now be |
passed without any serious trouble. There |
s no change In the speculative situation |
here Stocks are strong because liquida- |
ion apparently has temporarily at least |
run its course and there is a large out |
standing short interest. Professional op-
orators sell 1t down, and when they tryI