The Washington herald., 1913-11-07

Huerta. Provisional President Of Mexico
had asked France 10 act ne mediator II
| Mexico's misunderstanding with tn,
United States.
Bank Of England rate unchanged. Pro.
portion OF the banks reserve to liabilities
Is now bA.4o per cent, against $3.50 Der
cent last week. and compares with a de-
cline from 7x to 47i4 per cent in this
week last year.
II. X. Eyans-The market continues N
nuctuate within narrow limits ana al
present shows no tendency either to ad-
vance or 10 decline. stin think that
conditions are such that the next move
ment which comes will be downward.
The Philadelphia and Reading has or
dered 5000 tons OF rails from the Carne-
gle Steel Company for this years deliy-
cry. The recent order Of 1900 tons was
Tor 1914 shipment. The Hooking Valley
has ordered 1000 tons of rails from the
Steel Corporation.
General Eiectric's total sales billed for
the year ending next month will come
pretty close TO touching the $40. .0OO. 600
mark. Last year the figures were sSs,-
$4,000. and officials Of the company ex-
pect this years gain to run between
10 PEI cent and Il per cent.
The American Cotton Oil declared reg
ular semi-annual dividend of per cent
on its preferred stock. No payment IA
made on the common stock on which
there has not been a distribution since
June ], lsll- It Is estimated that Con-
tent has sold 1000 Steel today. J. J.
Manning sold 5000, Foster & Lounsbery,
5000
Permission was granted to express
companies by the Interstate Commerce
Commission to postpone until February /
the reduced rates and altered practices
that were ordered in the decision of the
commission issued last spring. The new
tariffs must be fled by January 10. 1t
was first ordered that the rates should
become effective October Is. but that was
postponed until December 1.
Owing to dullness in steel orders over
last month 1t Is expected that unified
tonnage Of Steel Corporation for October
VIII show q decrease to about aOOO. 600
tons on the company's books. In event
OF October orders showing a shrinkage
Of $4,000 tons 1t will leave approximately
i.6o,ooo tons on the corporations books,
the smallest total since December ], 1911,
when 41n,6S tons were reported. The
former figures. however. would provide
more than four months full operations
OF the corporations plants.
The Berlin correspondent of the Iron
Age says: No signs of Improvement
are seen anywhere. but in some impor-
tant branches still further depreciation in
volume Of business Is reported. with fur
ther drops in process. This applies
chiefly to products not protected by trade |
At meeting OF the Steel
Works Union this week IL was reported !
hat the position OF beams is weak. but |
that the export demand for semi-finished |
steel is slightly better. Basic steel bars
IRE now sold by some makers as low as
'2l.1 to s22.i3 but mills in a relatively |
strong position demand several marks 1
more, with prices for extra fne grades /
-anging upward TO $3.50
Z. & c. Randolph to W. 3. Hibbs l
{ Co.-The stock market opened quiet /
md unchanged in spite of lower Lon
lon. The tendency for a time after
he opening was toward Improvement.
md the list ruled generally strong
HS hIsb houTT HdhinB sllBht IraCuOnal
aims. Canadian was an exception and
pened up nearly a point above last
lights close. Interboro showed strength
rom the start and advanced IL on a
Moderate degree Of activity. The rest Of
he list held strong till about noon.
Then stock began to be supplied on the
ise, and this selling not only quickly
hecked the advance but caused a re-
ession which in the second hour caused
tocks not only to lose their previous
aims but forced them down to a level
ractionaily below last nights close.
here was no more explanation for the
ecline in the second hour than for the
dvance which took place Wednesday
nd in the first hour yesterday morning.
le transactions which caused both the
Sc and the fall originating very largely
n the floor Of the exchange. II is ex-
ected untitled tonnage Of the Steel Cor
oration for last month will show about
10000 tens on the company's books.
l the event Of October orders showing
shrinkage of 10000 tons, IL will leave
4.650.Ooo tons on the cor !
oration's books, smallest total since /,
1911 whom A14l 90 tons were