The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-04-26

ferred IL the result OF calling of loans.
for the earnings Of the property are inn
proving and the outlook in the Southwest
is encouraging
The selling movement which broke the
market appeared to, be Of the nature Of
a bear raid rather than a wave of liqui-
daticn. but II made the rank and file
extremely bearish, as prices of impor-
tant stocks Appropriated the low of the
1907 panic and even went under them in
some cases.
Molef-As all the foreign markets have
recovered from the exaggerated pessimis-
tic views on the Balkan situationT of
yesterday, our market should have side
cidedly better tone today. with some re-
covery for the general list. 1t is a fact
that most Of the selling which depressed
prices to the lowest level In the last half
hour yesterday was for short account.
In the opinion of the best judges. any
of the better class of stocks are pur-
chase for moderate turns.
Southern Pacific for March, gross OPP
Grating revenue. increase. $1,01S, o26; op.
Grating expenses, increase, $5ss, 154; net
operating revenue. increase $454,sl1.
Kansas State crop report gives the
highest since 1908. Less than 5 per cent
of the acreage sown last fall will be aban-
doned.
The Commerce Court yesterday sus-
tanned the Interstate Commerce Commits
sion In decision adverse to the Lehigh
Valley Railroad Company on coal rates
to Perth Amboy.
Cnnnnr
futures up Is Cd.
Northwestern for March. surplus after
charges, increase. $434.14.
Atchison for March. increase, 22l. S32:
nine months. net increase. 1921. 2s1.
Southern Pacific for March. net after
taxes. increase $44,sll; nine months. net
increase, 50 900.
The American Can Company debenture
underwriting syndicate has been extended
to August 1, half of the $l4.000.000 issue
having been sold. Orders are said to be
coming in regularly from this country and
abroad.
The Supreme Court has granted the
State Of Minnesota the right to file
brief in answer to the governments brief
in the Minnesota rate case. The brief
contends that the Shreveport case. which
was used in the governments brief. does
not apply to the Minnesota case. and
says: THE main issue In the Shreveport
case is, may the Federal government
require the lowering of an interstate
rate to meet low but reasonable intra-
state rate prescribed by State authori-
ties and acquiesced in by the carrier? In
the Minnesota cases there is challenged
the right Of a State to establish a sys-
tenn of interstate rates, presumptively
reasonable in themselves and having no
reference to interstate commerce"
The belief Is strong that the Supreme
Court has virtually made UP it's mind
on the rate cases, and these additional
briefs will be acceptable as material for
the court to discuss in its decision. That
u.s. by the submission of these additional
briefs all correlated questions can be en-
braced in the final decision, and a grand
clean up" of rate issues can be made.
Shonts, president of the Interboro
Rapid Transit Company. yesterday is
sued the following statement: with re-
spect to the raising of funds by the In
terboro, growing out Of the subway con-
tTdCtS, the lHtcTDOIO SOIlpdhy hdS uC-
livered to Morgan & Co. bonds covering
the SIS 0oO. 900 which is this years require
ments for subway construction pur-
poses, as per agreement with the city.
1t also has the money on deposit to take
Up the SIS. 100000 of notes due May L.
A prominent director of the Chicago.
Milwaukee and st. Paul Railroad has
just returned to New York from an ex-
tensive tour of inspection of that prop
erty. says that the conditions west of
Chicago are remarkably fuorishing. Cen
eral business is on an extensive scale.
and the agricultural conditions are ex-
ceptionally promising. There will be
large increase in acreage, and the soil
from Seattle down to the Gulf of Mex
leo Is filled with moisture. All the indi-
cations point to large crops throughout
the Western territory.