The Washington herald., 1913-01-19
WALL STREET GOSSIP

Stephen v. White. known as Deacon"
White, died to-day in Brooklyn. Mr..
White Joined the Stock Exchange IN
1853. He was a member OF the former
! banking firm or White Il Marvin, later
8. v. White Co. and OF White Il Co.,
which latter firm failed In 1Syl- He was
born in Chatham County. North Carolina,
In 1881.
Herald article on money power inves-
tigation Saturday morning very signifi-
cant. Mr.. PuJo virtually admits that
it has not resulted In anything of con-
sequence. The wide publicity given this
inquiry and knowledge or the little ac-
complished with all the resources at the
investigators command ought to go far
toward stopping irresponsible clamor for
a long time.
Private cables report the foreign mar
kets all closed firm In anticipation OF
Turkey being forced to settle the Balkan
war upon the joint note OF the powers
which was presented yesterday and the
rather general satisfaction over the Sc
lection Of Poincare as President Of
France Outside OF the short interest
about the only hope there is here for
more than temporary rallies next week
nom the present level. Is that the SUI
preme Court Will hand down the de-
cision in the Minnesota rate case IN IA
vor of the railroads on Monday, and
that the Union Pacific management Will
come to some agreement soon as 10 the
terms for the dissolution or the South
ern Pacific merger.
The professional element of large
traders continues to speak Of attempt
to force prices lower on rumors of
Investment selling Of industrials.
Reports circulating about United
States Steel are that the Roosevelt
testimony next week will be unfavor-
able.
Most of the gossip regarding the
Equipment stocks is very favorable to
the purchase of Car and Electrical Sup
ply stocks.
Investment purchases are recon-
mended by well-known firms at cur
rent prices. es.>includinE Northern Pacific.
st. Paul. and Southern Pacific.
Every rally brings offerings of in
dustrial stocks from small capitalists
who bought them before the Democrats
showed strength. says a big operator.
Convertible bonds are expected to
be more attractive to capital than
either bond or note issues of the regu-
lar kind In the near future.
Extensive buying for foreign account
will be found in trans-continental rails
in the event of a break
The uptown trading element is re-
ported 10 be preparing to make an
other attack on prices in case the Su-
preme Court again disappoints the
street Monday on a decision In the
Minnesota rate case.
The Herald says the Pujo committee
las collapsed so far as securing sensa-
tional testimony is concerned. II is
pointed out elsewhere that more than
100000 q year In taxes comes from the
stock exchange trading and that the
State Of New York will go slowly In rec
ommendihg Incorporation or other re-
strictions likely to kill the goose that
lays the golden egg" The Balkan news
is favorable. More gold may be sent to
Europe. There Is an expectation again
that the Minnesota rate case will be de-
cided Monday. The dissolution plan of
the Hartman lines may come forth any
and Is stimulating investment. according |
to trustworthy reports. The Wilson talks
are still receiving condemnation in va
riOus parts of the street.
Raymond Pynchon & Co say: We
think the market very much oversold. |
and a little aggressive buying would |
cause a sharp advance. There does not |
seem to be any outside buying and Lon |
don is inclined to be bearish.''
The London subscription list issued by |
Coutts & Co. on behalf of LadenberS-
& Co. Of New York, Of the
unsold balance OF the 81. 10000 fifty-year |
> per cent first refunding bonds OF the |
Canadian Southern Railroad Company |
closed this morning some hours In ad- |
Continued on PAGE Eclvcn.