The Washington herald., 1913-06-28
LITTLE DOING
in STOCK LIST
Market Waits on Settlement
of Union Pacific Troubles.
Small Net Losses.
CROPSREPORTS AFACTOR
Local Securities Steady-The Pros
poets for Braden Copper.
Street Gossip.
CROPSREPORTS AFACTOR
Nv i. A. FLEMING.

II was one of the smallest trading ses-
sions on record for the New York Ex-
change. Really. there was little interest
from start to finish. II was slow and
dragging. with higher prices at the open
ing and modest losses at the close.
Every one but the scalpers are waiting,
waiting for an announcement OF the
Union Pacific-Southern Pacific merger
dIrficuIty, which must come WITHIN the
next few days, for July ! is at hand.
Attorney General McReynoIds maintains
dignifed silence, and refuses 10 talk
Tor publication, although II IS known
that he held interviews with Paul Cra-
vath yesterday. IT IS self-evident TO an
that unless an agreement satisfactory 20
the court is. reached receivership or ex-
tension OF time for disposal OF the South
crn Pacific stock are the alternatives
with receivership probable; that is. in
the event OF being unable to get together
Unfa~orabIc Factors.
There were several unfavorable factors
in the situation. Mexico CITY wires state
that the National Railways OF Mexico
nave gone INTO receiversn;p, owing 70
much damage by the insurgents. repeis,
outlaws. &c j. NJ. GaIbraith, manager
of the Waters Pierce Oh Company, Is
said TO have been made receiver, but how
can governmsnt-owned lines be lore
closed? Speyer & Co. make denial. 1t
also was announced that the financing or
the lines, through 4 sale OF Sb,iSO,WO o
per cent two-year notes, has not been
contaminated. as expected, and VIII not
be. owing TO conditions IN Mexico. Fur
thermore the subscriptions to the MeXi-
can loan on the other side are said to
be very poor.
All things considered, Mexico appears
to be in trouble, and Investments WITHIN
her border are not especially promising.
Shelter Sugar, and other stocks with
Mexican end were under pressure.
Stories from Kansas and the Dakotas
were not encouraging IN a crop way.
Damage through excessive heat and bugs
are becoming rather serious
Till After Holidays.
1t is more than likely that the present
inertia, when even Consolidated Gas
notes paying per cent. are not grabbed
up. will continue until after the holidays
next week. The markets close on Thurs
day over until Monday morning, the
9Th In the interim many things not
settled at this time will be removed
as faCtoTs-probably.
Declines were not severe, Ia point on
the average. Reading was strong; Union
Pacific showed fair strength, and at the
close was near Thursdays price. though
both were about a point higher at one
time. Steel was easier: Southern Pa
Cific was weak, probably on the refusal of
the Arizona commission to authorize an
issue of bonds. Chesapeake and Ohio
was actually higher on good investment
buying Canadian Pacific gained 3-i.
Many stocks did not show on the list.
The reported sales over the ticker for
the first were $50 shares; for the sec
ond hour, $500: third hour, 1900;
fourth hour. 5000, and in the last hour,
7,00p-about l24,C0o share session.
Local Securities.
There was little or no change in local
securities yesterday. save in an easier
feeling in Capital Traction shares. The
FIRST sale, an odd lot, was made at III,
and then twenty-five shares at l16&, the
new low on the stock. Support which
has heretofore been forthcoming was en-
tIrely absent.
Railway shares, common. were nominal,
with sS15 bid and 80 asked, the pre-
ferred selling at S.
Washington Gas was offered less freely.
Good news coming out has checked Of
ferings. Sales at S7aS7A.
Because a former employee OF thel
Washington Gas Company is working
for the Rosslyn Gas Company is no evil
dence of the purchase of the latter by
the former The Washington Gas Com
pany has no interest west of Rock Creek,
except an equity in 354O shares of George
town Gas stock. Vice President Reside
is authority for the statement that the
idea has not been entertained
Federal National remains steady at Us,
Bank of Washington az 20, and Amer1-
can Security at 800.
Railway IS were stronger at s2H. Trac-
ton IS 1oSA. and Potomac consolidated
SIS, cash, 100A.
Baden Development.
The report of Pope Yeatman, consult
ing engineer in charge OF operations at
the Braden Copper Mines, which was
submitted at the annual meeting OF the
stockholders, contains the following de-
tailed statement OF the company's ore
tonnage:
Developed Probable Possible