The Washington herald., 1913-08-22
NEW YORK COFFEE.
Furnished BY N. L. Carpenter L %.
WALL STREET GOSSIP
Looks like Boston selling.

Missouri Pacific is heavy on the un-
favorable corn conditions in the roads
territory. Kansas as well as Oklahoma
is without rain. and damage continues.
The Hooking Valley Railroad Company
has declared q quarterly dividend Of 2
per cent. The regular payment for sew
eral periods has been 3-4 per cent. Three
months ago an extra disbursement Of
41-2 per cent was ordered. Yesterdays
declaration places the stock on an per
cent instead Of per cent basis.
Southern, California Oil Consumers As
sociation will merge with Oil Producers
Consumers League to meet competition
with Standard Oil Company of California
The Pasadena Petroleum Company, with
a capital of 5000. 900. has been chartered
in Louisiana.
The announcement Of . reduction Of g
a ton in prices of steel billets was an
unfavorable factor and may have been
the main cause Of the reversal of form
after the market had developed an i'm
proving tendency. The traders argued
that the course of the market for billets
has always been one OF the best indica-
tions Of the prevailing conditions in the
steel trade in general and the cut of y
a ton was regarded as . matter Of no
small significance.
Childs-Looks as though big interests
are getting out of stock bought on de-
cline Union Pacific looks like q sale.
The proportion of the Bank Of England
reserve to liabilities is now $3.50 per cent.
against $50 per cent last week, and
~ rs per cent this week last year. Bank
10 ont
Baltimore and Ohio June operating
revenue increase, SIS. .ssS; net operating
revenue increase. $3oo.3sS.
London turned weak, presumably on
some new Mexican mix-up, although
from the tone Of the papers 1t would
seem that Mr.. Wilson's representative
will handle the situation automatically.
H. h Evans-The bull movement.
which ran from the middle of June to
the middle of August. seems to have
eliminated, and 1t looks as II the people
who were most interested in it had been
getting out of their stocks on all strong
spots lately. While the market holds
strong. it might be well to follow their
example.
Four per cent on Chesapeake and Ohio.
All amendments offered by opponents
of the administration bill in the House
Democratic caucus are being systemat-
ically voted down by large matorities,
and the bill, as originally offered. will
be adopted. with one change. to be Of
fered by the Banking and Currency Com
mittee. That 10 TO make it more specific
that there shail be no discrimination
against aericu !iural paper,
S. B. Chaplin & Co.-The heaviness of
the market rejected the reduced buying
power, owing to the greater uncertainty
of the general crop outlook. During the
recent bullish activity in advancing
values, in order to better facilitate the
distribution of the Southern Pacific
stock. the heavy damage to corn and oats
and all the other crops but wheat was
overlooked.
The market will therefore require much
better support than recently, and such
rallies as may develop from that kind
Of buying or covering of shorts are not
expected to go far until the coming gov
ernment reports on both grain and cot
ton are out Of the way.
E. & C. Randolph to W. B. Hibbs &
Coat the opening the market was dull
and loves the Mexican news being gen.
orally given as the reason for the de-
cline. Foreigners seemed to regard this
more seriously than traders on this side,
and houses with foreign connections sold
good deal of stock in the first hour.
After this selling was completed. the
market rallied under the lead Of Lehigh
and Reading. both Of which spurted up
sharply The spurt was of short dura-
ton, however, and the market again
turned soft. The steady decline in South
ern Pacific, which IL now down four
points from the price at which It sold
after the announcement Of the subscrip-
ton to the syndicate was unfavorably
construed and had dampening effect
on the market. AZ q whole, the market
acts as II q good deal OF stock had been
distributed at the high level reached In
xhA Yoaf ~Aok M