The Washington herald., 1913-12-27

acceptable to the Department OF Justice.
relieving the corporation of litigation
under the antitrust law. 1t also is said
that the Jersey Central will be offered
to Reading stockholders at an attrac-
tive price. and while. perhaps, few cred
ited the stories, there has been heavy
covering of shorts.
Berlin funds are being offered by the
bankers OF the German capital, a devel-
opment not at all surprising. While IL
Is true that in past years they have come
into the market as would-be borrowers,
to tide them over the usual year-end
stringency. several factors have CO.
operated this yea- to bring about de-
cidedly easier monetary conditions at
the German center. Trade and stock
speculation have shown pronounced retro
gression, and at the same time the
Reichsbank has fortified its position by
building up its reserves in the course of
the year to unprecedented proportions.
Two weeks ago Il reduced its officiaI rate
from 5 1-2 to per cent.
Lewis, Johnson & Co.-Now that the
bullish interests have done so well among
some stocks, II may be expected that they
VIII take up other issues and seek to
broaden the speculation. The outside
public is not coming in TO any extent.
as yet, but there is a somewhat more
hopeful feeling In the air. even though
the number of unemployed grows and the
margin of profit In many lines has dimin-
ished. Bull interests are working the
currency law for all it Is worth, perhaps
but IL Europe. for instance, should be
tempted to try the long side of our mar
ket there would be room for a very
good general advance in stocks like the
Hill issues. Atchison, Baltimore and Ohio
and Southern Pacific. The suits against
the local gas interests will hardly be an
influence and Consolidated Gas and the
local fractions should do considerably
better. Central Leather dividend is to
come OF soon, and that stock is a pur-
chase on soft places, we think. Ice and
Pacific Mail for the long run should pay
well. and we hear that Copper Metal pro-
ducers expect to advance the metal price
soon. and that the coppers will be TAX
en- in hand. Canadian Pacific now looks
very attractive. Leaders like Reading
and Union Pacific that have advanced
so far should be sold on bulges for turns
at least.
Hartman & Co.-The market showed
such genuine strength on Wednesday
that there is little doubt but what prices
VIII run further. Developments are near
both In Union Pacific and in Reading
winch should carry both issues much
higher. Practically all the bad news is
now known and discounted. Prices are
stu cheap, and there is a host OF unbe-
levers who are still short, and an army
OF unwilling, but nevertheless certain,
buyers as prices improve, and with the
changes in sentiment which the currency
hiu and the Presidents attitude toward
business has brought about the only
logical and the only safe position is that
oil the bulls. Copper is tipped for 50
and Texas Oil for rs. Private cables
received by some of the large interna-
tional metal houses say that the Copper
abroad is active and strong: substantial
sales have taken place. and Indications
are that further business will be booked
during the day. In the domestic market
the feeling is decidedly better.
5. b. Chaplin to w. B. Hibbs & Co
The market was very strong throughout
the forenoon, with a considerable in
crease in commission house buyinr. and
many stocks went to new high records
on the advances ranging from I to j 5-S
further from Wednesdays closing, un-
DER the lead Of Steel, Union Pacific.
american Corn Products. and Reading
There was broad market in all those
stocks up to o'clock when DISPATCHES
were received from Philadelphia quotinS
officials OF the Reading. Company as de-
nying any knowledge OF reports current
that any segregation plan was being
worked out This caused some scattered
profit taking and later the market re-
acted TO about Wednesdays prices for
the most active issues
The easier money market conditions in
all the financial centers and the better
prospects for business activity this
spring warrant the expectation of d con-
tinued good trading market, but in view
OF the recent sharp advance caution
should be observed against taking on too
many stocks.
n. 5. Carpenter & Co-LooIl for
broader and more active market IN
stocks with an advancing tendency. Ex-
pect socks to do better between nov
and January !. Feel that the active is
sues like Union Pacific, Reading, and
American Corn Products will pay better
than specialties except possibly the Trac-
ton issues. The market is broader. With
the January Disbursements IN he invasr