The Washington herald., 1913-04-09
WALL STREET GOSSIP

WALL STREET GOSSIP
Directors of United Cigars will meet
before the close of this month to act
on common dividend, payable about
May Is. Rumors are directors would
not vote an extra dividend of " of
per cent in addition to regular quarterly
of IA, as declared three months ago.
director says absolutely no basis for such
reports.
Income statement of the Mexican
Petroleum Company for 1912 Shoes
balance after preferred dividends and
charge of $295,0O0. for depreciation of
81, SS5. 422, equal to $50 per cent on the
common stock. Surplus for the year after
common dividends of $3.50, 600, is S925, IA
Boston house, largely interested in
the Copper stocks, is understood to con-
slider Utah Copper, with its large ore
reserves and prosperous surroundings
as perhaps the leading mining security.
Leading steel trade interests are re-
ported to believe, although the duty on
rails may be removed, foreign makers
will for some time find 1t difficult to meet
the rigorous specifications of American
roads.
A shrewd operator is quoted to the
effect that a favorable Minnesota rate
decision might not have so great bullish
effect as Is impagined since II would SIM
ply confirm the present authority of the
Interstate Commerce Commission over
rates.
IL rpDOffpd nlaff
tiers regard the hesitation in prices with
specific weakness, due partly to the fact
that nineteen institutions were below
their legal reserves at the end of last
week.
Some of the recent buying of Ameri-
can Smelling is said to have been due
The foreign exchange market opened
weak with demand sterling off Is points.
Baltimore-Edmund II. BROMLEY and
Allen b. Lockhart have been appointed
receivers for the Banking and Broker
age firm of Crouch and Carmin, men,
bers of the Baltimore Stock Exchange.
Hartman & Colt seems to be pref
~ generally thought that those in con-
troll of this market will take hold of il
again and advance prices at least for
the balance of the week. A good
many are bullish on the theory that
the very worst Is known in regards to
tariff reductions, and. if anything. the
reductions will be less than are now pro-
posed The market is also being bulled
on the report that the copper statement
will turn out much better than ex-
pected. The market acts well consider
ing all the unfayorable news during the
past fortnight
Weakness in the petroleum stocks was
accompanied by reports that the state
ment OF the Mexican Petroleum Com
pany for 1912 will show less than
) per cent earned on the common stock.
The Republican Iron and Steel Co.
has resumed full operation at all of
its plants in the Youngstown district
This company suffered quite severely
from the high water in that section.
Chesapeake and Ohio for fourth week
of March decreased so63, 429
The selling started on q rumor of ILL
ness of a Union Pacific official. Stop
orders were caught, and, as usual, there
was no buying.
Guthrie am bearish: selling is better
than buying.
Rogers-Selling is good. I look for a
rection.
SIMPSON, think the market will do
better.
The Union Pacific new dissolution plan
will include a provision asking the court
for reasonable time, perhaps a year. in
which to dispose of its Southern Pacific
stock. This means that there will be no
new syndicate formed in the near future
at any rate. if the plan is approved,
and one may not be necessary at all
1t is hoped that this will enable the
to dispose of it's stock at a
figure by avoiding the neces-
sity of greatly increasing the floating SUP
ply at any one time. Inasmuch as the
General has taken a negative
position with regard to the working out
of this plan, the company has to run
the risk of meeting government opposi-
ton when the plan is presented to the
court, unless the court grants an ex-
tension period for presenting a success
full plan. Such government opposition
might prove serious, as the time for the
of a satisfactory plan ex-
pires May l..
Copper stocks decreased 1S,O32 92S pounds. |
Lewis johnson & Co.-Official estimates |
of March operating results of Goldfeld |
Consolidated shows: Tons of ore mined, |
30, 100; gross earnings. $3.50, 600; operating
S1S5,000 net earnings, s465, 0OO A
of the trading movement of |
prices may be witnessed today. pro- |
vided that no radically adverse event in !
terferes with the present disposition i'm |
good quarters to acquire stocks on any
fair recessions. Investment absorption
has been considerable, and promises to |
Increase. We would buy the standard |
stocks for moderate turns where favor |
able opportunities are presented.
S. b. Chaplin & Co.-The market was I'M
settled after the noon hour by what ap-
oeared to be an aggressive bear attack |
following the release of the Presidents |
message to Congress on the tariff situa-
ton. After the decline of two points in |
Union Pacific and one and one-half in ST. |
Paul, as well as point in Steel, it was
hn n