The Washington herald., 1913-01-03
WALL STREET GOSSIP

strong New England speculative
pool is reported buying Amalgamated,
Anaconda, and Utah Copper stocks, and
is predicting higher prices for them.
A large amount of money is destined to
arrive In New York from the West during
the next two weeks.
Private Washington advices say there
is a practical certainty that an important
decision will be handed down by the Su-
preme Court Monday. The rate case Is
| looked for.
No currency legislation is expected at
the extra session now. Hearings begin
next week.
A large short interest Is reported to be
outstanding in Lehigh Valley.
Railroad executives agree as a rule that
the railroads should ask for a horizontal
advance in freight rates. This is a sum-
mary of their interviews for 1913 outlook.
The absence Of speculation in securities
and real estate for a long time leads bank
ing interests to expect reasonable pros
perity during the year.
There Is SAID 10 De a SOO0 0eIlldnu
the Hill and Hartman stocks from Lon
don now on direct orders.
With the opening Of the new year. Lon
don came very bright on Thursday. This
is probably on the backdown of Turkey,
which is a great thing for the whole
world. as 1t will change the money mar
kets. and We should start In shortly with
much lower rates, better bond business
-
extra session for March 10 the situation
here as regards the industrial stocks will
probably mean that they can be sold IN
the rallies. Mr.. Wilson until some time
after March will be an unknown guam
tity. We hope speculation will broaden,
but with the prospects OF extra session
spectators will very likely go rather
easy.
president of the American Can Company
came as a surprise to the general public.
although II has been known for several
years by his friends that he was desir-
Gus Of retiring from active business Mr..
Graham did not resign from the Can
company to head the new Intercontinen-
tai Can Company. as rumored. He will
not so into any active business.
day with a little more activity and
some further rally in prices from Tues
days advance. There is a feeling OF
more hopefulness OF an early relaxation
in the money markets by the important
progress made late yesterday in the ef
fort to settle the Balkan war. and a
consequence the Bank of England's
minimum rate of discount remains I'M
changed to-day at per cent.
United Cigar Stores-In December the
United Cigar Stores Company did
business at the rate of close to $40, 600 600
q year.
Pennsylvania system for November.
Lines east: Operating revenue, increase.
s.. 115.22s; expenses and taxes. increase.
crease. S33,317. Lines West: Operating
revenue increase. 5000 40; expenses and
taxes, increase, s1,773.653. Net operating
revenue, increase, s22s,s17.
The subtreasury lost $4,000 to the
banks Tuesday. and since Friday lost
s99s, 900.
Mohawk Mining Company declared
dividend Of s. per share.
At a meeting OF the directors of the
Tennessee Copper Company yesterday
afternoon dividend of 81. 80 a share was
declared. The previous dividend was 81
a share and was paid on August 10 last:
on February 20 last a dividend OF $50
a share was disbursed.
Canadian Pacific showed exceptional
strength, being influenced partly by the
determination of the Steel Corporation TO
build a large plant in Canada and later by
rumors that the dividend would be in
creased to Il per cent. The stock in the
afternoon showed a gain Of six to seven
points and stimulated the rest of the mar
ket. About the only prominent issue to
show heaviness was Southern Pacific.
Call money opened at 50 per cent and
renewals were made at that rate.
Market opened fairly active and higher.
influenced largely by improved sentiment
in Europe, where all bourses were re-
ported cheerful on the prospect OF a
prompt settling of the Balkan differences
and on relief from the money tension incl
dent to the end of the year settlements.
The market advanced the first hour and
although there was some selling around
IL O'Clock. which caused fractional re-
actions, but little stock came out and
prices soon rallied again, with leading is
sues showing good gains
The fortnightIy statistics show that
English and French stocks OF copper on
December 81 increased S5i tons. while cop
per supplies afioat increased 400 tons maxi
ing a total increase in the visible supply
of LISA tons, to 4O.Sss tons against $, SIS
on December Is
prominent director of the Hartman
lines says that while freight business is
not showing any appreciable improve
ment, the passenger business Of the COM
panies for December will show a large
increase. particularly in California.
The Pittsburg Coal stocks were notably
strong specialties. The rise was founded
on good earnings and the prospect Of a
plan TO pay of the back dividends on the
preferred by an Issue of debenture bonds.
The foreign exchange market opened up
20 points from Tuesdays close
The Readings anthracite shipments for
December will approximate l23,70o tons,
compared with 123s72 in 1911.
London copper market firm, up is 3D.
Although the market Is strong there
seems to be very little buying power be-
hind 1t.
New York Central lines for November.
Total all lines, operating revenue in
crease. S,lsIii3: operating income in
crease, s,e3s59s.
One dollar and fifty cents per share on
Tennessee Copper