The Washington herald., 1913-07-22
NEW YORK COTTON.
WALL Street GOSSIP

Market Is strong on rumor that Inter
| state Commerce Commission will ALLOW
railroads to increase freight rates S De
cent
Orders for approximately $4,000 wortl
Of floating equipment to be used in tn,
Delaware River and in New York har
Dor have been placed by the Pennsyl
vania Railroad Company.
| childs-Market looks to me like coins
! higher. I believe that only a small par
Of short interest has covered and tina,
| rise in stocks will continue until they
have been run in. Western and foreign
buying is in evidence. Boston houses are
sellers and there il supposed to be q
| large short interest there. I still con.
slider Reading q buy.
The preliminary report Of the Union
Pacific Railroad Company and Of auxil.
larry companies for the year ended June
30. 1913. with comparisons, folloNb: Gross
operating revenue increase Hyee1sS Oh.
Grating expenses increase sa,@4ss2. Net
operating revenue increase Sa.7ss 27s.
Surplus increase s. $50, e36 The estimated
surplus for year ended June 30, 1918, is
equivalent to 15.o6 per cent on the s2l6,-
6S3.90o common stock. compared with
1887 per cent for the year ended June
30, 1912. an increase Of Lis per cent.
A. G. Plant & Co.-The partial dissi-
patton Of the gloom in Wall Street, to-
gether with the improvement In secur-
ity values. has in turn strengthened SEN
tment In the steel industry. Manufac-
turers report that while there has been
no perceptible increase In buying, more
tnnniTida q.
sumers. 1t Is estimated that incoming
business, inefuding the United States
Steel Corporation. as well as the indie
pendent companies. Is at the rate of
about 30 per cent of shipments This
new business, with the old orders on the
books, Is keeping the mills operating
slightly above 80 per cent of maximum
capacity. New orders are mostly for
deliveries in the near future, which helps
to sustain mill activity.
Southern Pacific attacks right of any
single State to regulate security issues
OF an interstate corporation in suit in.
stituted against the California Railroad
Commission. Bank of England expected
to get all Of 100000 pounds of South
African gold available in London open
market today. London cable says easier
money conditions are tending to encour-
age fresh capital issues. Berlin cable
says truce Is about to be patched be-
tween Deutsche Bank and Princes Trust
Baltimore and Ohio for June operating
revenue increase. N0o.54 Operating ex-
penses increase. $s74.s24 Net operating
revenues decrease, $I7t.23o.
The Pennsylvania Railroad COMPANY
declared usual quarterly dividend Of ~ |
per cent. payable August 90
At special meeting Of stockholders of |
8raden Copper Mines Company, approval |
vas given the directors In authorizing |
he execution Of the extension of the /
late Of the maturity of the company's /
ssue of per cent gold bonds to June
!. 1914 and approval was also given of |
he execution Of the extension Of time /
within which the bonds may be con- /
'srted into stock from March ]. 1914
o March =, 1915.
Al the Meeting there was represented I
y. proxies s5l.nz shares Of . total Of
'0&eoo shares outstanding. The stock +
'ooks show that tzt0oe has been con-
ertsd into $500 shares Of stock to date.
Aarrimaa . ce.-1hs nsaskss = strons