The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-04-18
NEW YORK COFFEE.
Furnished BY N. [. c.rpent.s . Co
WALL STREET GOSSIP

WALL STREET GOSSIP
1t was learned that the selling Of Wa
bash Pittsburg Terminal bonds Wednes
day, which carried the price down at one
time nearly points, was due to we'll
defined reports that new plan of re
organization is being worked out which
contemplated an assessment upon tn,
bonds. Those who heard this report and
acted upon it did not learn the amount
| of the alleged assessment.
Simpson.-Market will sell higher to-
! day.
Guthrie.-I think the rally will go fur.
| ther.
| Moore.-I think market will do better.
BY cable to Pekin the offices of the
| American representatives in siX-poweI
| loan group of bankers in negotiations re-
lating to Chinese loan were directed to
| be closed.
This ends participation of American
| banking interests in proposed fiotations
| for Chinese Republic.
| Peoples Gas declared regular quarter
ly dividend of Ia per cent, payable May
Is, to stock record May 3.
Regular dividend on Copper.
CRANKY Consolidated declared a divi-
dend of III per cent, payable June >
On March 10 dividend of ~ per cent
was paid.
Vienna-It was learned from a semi
official source tflat the Powers have de-
cided to raise the blockade of the Mon
tenegrin Coast.
Directors of Prairie Oil land Gas Com
pany decide to discontinue, for a time
payments of dividends. President Schaff,
of NJ. X. & T. says Kansas expects a
crop of 100, 000 bushels of winter wheat
Board Of arbitrators to file firemens
award Wednesday
Evansville reduction in the Bank of
England rate had apparently been pretty
well discounted in the London market
but sentiment continues cheerful over
there, and the feeling is general that the
Bank OF France will soon reduce its
rate, and that a further reduction in the
Bank of England rate can be expected
before a great while. Our market has
apparently temporarily reached a dead
center, and small scalping operations
seem alone possible. There is no tend
ency to prices at present in either d-
rection and to start any movement will
apparently require some new fresh i'm
pulse. From what quarter that is to
come is anybody's guess.
Moler-The much easier money market
conditions abroad and increasing indica-
tions of an early settlement of the Bal
Eora tl,1
look so favorable abroad for revival
of general business activity that higher
security markets are likely to develop
at London, Paris, and Berlin, and can
not fail to have a stimulating influence
here against the prevailing pessimism.
1t is expected that President Farrell
and Judge Gary will be among the first
witnesses called for the defense in the
Steel Corporation when presentation of
the latter's side of the case begins May
L or u.
Senator Owen, chairman of the Senate
Committee on Banking and Currency.
was an early visitor at the White House
yesterday. and stated that in his opinion,
there would be some kind of currency
legislation DIT this session of Congress.
r. S. Lovett and possibly some other
members of the board of directors of
Union Pacific will leave New York on
Saturday next for st. Paul, where they
will present a new plan of dissolution to
the circuit judges on Monday next
1t is said that Calumet and Hecla Com
pany has just advanced price of copper
to 16 cents.
The rate of discount of the Bank of Ben
gal was reduced from to 6 per cent yes
terday.
London-Copper firm; spot up Is shil-
iings; futures up IL shillings.
Atchison and Pennsylvania are the only
stocks in active demand in the loan crowd.
Pennsylvania loans are fiat and Atchison
at ~. Standing short interest is large.
Speyer Bros, of London, We're appointed
special fiscal agents of the Navy Depart
ment in that city.
The proportion of the Bank of England
reserve to liabilities is now 479O per cent,
against As per cent last week. and COM
pares with decline from 1880 to 45N per
cent in this week last year.
The manner in which Canadian Pa
cific has been absorbed by foreign inter- |
ests since the beginning of the month |
has caused good deal of conjecture |
about the probability of its having some |
other incentive than the easier money |
conditions on the Continent. Some of the !
reports are to the effect that |
there is an intended extra distribution, |
Of which foreign holders have knowl-
edge.
Potts-Sentiment on the floor is more
hopeful than for some time past on ac-
count of the reduction of the English
bann rate. 1t is thought that the money
stringency in Europe is about over, and
i is also thought the war clouds have
nearly passed. There. is no liquidation
here at present. and it looks as if our
market is going to be pushed to a higher
level. We have so many uncertainties
ahead of as, however, that still feet that
the market should be sold on every good
advance. Without public support, and
with decided lack of money, it seems
hardly possible that the banking interests
IAN advance the market to any great
extent
e. & c. Randolph-The opening was
active and featureless, but
before long stronger tore developed.