The Washington herald., 1913-03-19
WALL STREET GOSSIP

The directors OF the Reading Company
will hold their usual monthly meeting
today and act on the dividend on the
common stock. The directors of the
Lehigh Valley Railroad Company will
| hold their customary monthly meeting
today.
| Simmons & Slade-The amount of
money available for use of speculation is
| limited and therefore conservative
| sources do not expect an immediate
| sustained upward movement Temper
arily we look for a good trading market.
but reactionary operations will likely be
| continued today.
A report. issued by the Census Bureau
yesterday places the quantity of cotton
| consumed during February at 4Ss.s33
running bales. The amount of cotton
| at manufacturing establishments on Feb
ruary was 1857. .54S bales and independent
| warehouses, 2,252.0l1 bales.
The Subtreasury gained S,s4S,ooo from
banks yesterday and since Friday has
gained T,1H,ooo.
The German government is preparing
a new potash law, which will materially
affect and retard the advent of new works.
put u siISD II VIII De a DIOW
to the old mines, in that the dues of
60 pfennig per doppel center are to be
doubled.
Attorney General McReynolds said yes
terday that he had no engagement to
meet Union Pacific Railroad officials, but
presumed he would be advised when they
had worked out Il plan to comply with
the Supreme Court dissolution decision.
1t is an open secret that the b. g. o.
r. r. will take up the $4,000 600 three
year notes at maturity on June |. There
was some uncertainty for time as to
whether the proceeds of the s63. 20. 900
l4s per cent twenty-year convertible gold
bonds would be used for the redemption
Of the note issue in whole or in part
but IL is now understood that a decision
has been reached by the management to
have a general cleanup at the end of
the fiscal Year
The sharp decline In Mexican Petro-
leum is on advance information as to
the returns from the year 1872. 1t is
claimed that the company earned be-
tween and 8 ler cent on the common
stock. whereas the annual statement was
expected To make a much better eX-
hibit. California Petroleum was also
sold on its annual statement recently
made public. which showed at the rate
of over per cent on the common. but
with the admission that there had been
no depreciation charged off since Feb
ruary Of last year.
Potts-Investors and the banking in
terests show no disposition to buy stocks
and, considering the outlook, one cannot
blame them. With the worlds money
markets in bad shape, with further COM
plications abrsai a possibility. with tar
if revision ahead of us here. to say
nothing Of the political unrest and the
serious position our railroads are in. il
seems certain that dividends will have
10 adjust themselves to the new order
of things. Stocks are cheap IL they are
going to maintain the present rate of
dividends. but their shrinkage in value
says they are not This is a time for
extreme caution. and I still feel that the
market should be sold on all rallies.
Additional gold 10 the amount of S.
100000 has been engaged for shipment to
Paris on Thursday. making the amount
to so py that steamer 5000 900.
The Am, rican Telegraph and Tele-
phone Company has declared the regular
quarterly dividend of 81 share, paya
BILE April 10.
United States Steel untitled tonnage for
March will, at present rate, show a de-
crease from February. although it is too
early to estimate how much.
s B. Chaplin & Co-The feature OF
Tuesdays market was the failure of
further weakness and declines of l to
points in about ten of the industrial spe-
cialties to influence further liquidation
or speculative selling of importance in
the standard railroad stocks or the lead
ing industrials. such as Steel and
Amaigamated.
Outside of the engagement of 5000, 90
additional gold bars for shipment to
Paris by tomorrow's steamer, and the
weaker closing tone to all the foreign
markets on continuation of more or less
apprehension over Berln's stringent mon-
ey situation. there were no new un-
favorable developments here. Both the
local time and call money markets were
easier
The disposition is to anticipate narrow
trading conditions in view of the holi-
days on Friday and Saturday here and
abroad until Tuesday.
Moler.-The prospects are for the con-
tinuance Of an irregular stock market
today as the trading element is still very
bearish and none Of the large market
interests are as yet inclined to take a
fresh stand on the bull side. The short
interest however, Is so extensive that
this feature will of itself furnish suffi-
cient support, with what is likely to be
continued in the way of scaled buying,
to give the market a better undertone
than the last several days In the mean
time fundamental conditions are steadily
improving