The Washington herald., 1913-10-01
MARKETS, FINANCE, COMMERCE

to underwrite ssO,OOo,oo0 Of the first mort
gage per cent bonds of the Interboro
| Company. The bonds are to be taken
by the syndicate from ]. P. Morgan &
Co. the First National Bank. and the
National City Bank. Details regarding
the matter probably will be finally con-
cluded before the close of business to-
day.
Illinois Central-August. net increase.
SI,l61; two months net increase. $22o,Ss2
Seaboard Air Line-August, net de-
crease, A,762; two months net increase.
9,S96.
c. J. Housman-with Union Pacific II
is a good deal like the soliloquy Of
Shakespeare's Hamlet: ITO be or not to
be, that is the question" Stocks yester-
day were weak enough to buy. Third
Avenue handled itself very well yester-
day; also Alaska Gold. Watch the cop
per metal; with the first sign Of a rally
copper stocks will probably lead the next
advance. The earlier prices from Lon
don were not significant Of anything.
Commercial-Traders speak Iugubrious-
ly of the way free trade and lower du-
ties will cut down the profits Of the steel
company.
Herald-Traders sell stocks for short
turn.
Tribune-The downward tendency OF
the foreign markets to an extent contr!-
buted 10 the lack OF optimism on this
side.
Wall Street Journal-The most notable
thing about the market is its failure to
rally after declines.
Sun-The heaviness of Steel is attribut-
ed in a general way to the tariff.
Fost-The market lacks initiative, there
is almost no rallying power.
s. B. Chaplin e. Co.-After ruling steady
the greater part of the session, the stock
market turned weak in the last hour.
new low prices being made since the
present reactionary movement began last
week. Steel, Union Pacific, and Reading
led in activity and weakness, with de-
clines extending to 3-f in Union Pacific
and Ia in Steel. The market closed
barely steady near the lowest for the
day. Weakness in Union Pacific was at
tributed to the fact that no action was
taken at the meeting of the executive
committee yesterday regarding the ex-
pected extra distribution, and Steel was
heavily sold on reported falling of in
new business. Professional activity also
was directed toward lower values, and a
good many stop loss orders were uncov-
cred.
Scale buying orders were in evidence,
but not in sufficient volume to make any
impression, and sentiment at the close
was rather pessimistic.
Z. & c. Randolph to W. B. Hibbs &
Co.-The opening was heavy and stock
was pressed for sale quite vigor-
ously. The support, however, was
good. and prices did not decline
much, except in the case of Union, which
sold of sharply a point and a half in the
first few minutes. After the early pres
sure subsided the market gradually hard
ened, and although ii was announced
positively that no statement would be
made in regard to the Union Pacific extra
distribution yesterday. that stock rallied
well with the rest of the market. senti-
ment being very confident that something
will be done very shortly. Among the
specialties Interboro was the strongest.
the strength being generally connected
with the marketing of the new bonds
Missouri Pacific also rallied sharply. In
fact. this stock showed strength during
the early weakness in the balance OF the
list. the buying being attributed 10 the
excellent showing made by the annual re-
port. The market is now quiet and
strong. the list as a whole showing frac-
tional gains over last nights quotations.