The Washington herald., 1913-08-20
NEW YORK COTTON.
WALL Street GOSSIP
Everybody had hundred Steel to sell
at the opening.

| Everybody had hundred Steel to sci
at the opening.
! A big trader says that one good fea.
| ture of the market is the ready re.
spense of such stocks as General Elec.
| trio and Westinghouse to favorable bust
ness reports and the limited supply dis
closed by aggressive buying in almos,
any section of the general list.
| Utah and other low priced coppers
| Eries. Southern Railway. Missouri Pa
! cific, Missouri, Kansas and Topeka, and
Rock Island are taken for the long pull
Fair absorption of Interboro is claimed.
Chesapeake and Ohio is affected by
dividend uncertainties.
Smelters and Mexican Petroleum fol-
low the Mexican developments to some
extent.
Prominent copper interests are reported
to comment favorably on the new high
record of production shown by Utah
Copper in the latest report OF opera
tions. and the new low cost per ton Of
ore treated.
Some active institutions are said to
expect that the market will be able to
absorb without difficulty the large ad-
ditional supply of Southern Pacific, which
will be freed by the Union Pacific dis
solution and to believe that thereafter
Southern Pacific will advance to its
normal market quotations.
The Republican Iron and SteN Com
pany declared the regular quarterly
dividend of "a on preferred stock.
The foreign exchange market opened
firm with demand sterling up points
from Monday.
London copper closed down Is shillings
from morning.
E. & c. Randolph-Shortly after II a.
m. the pressure seemed to cease and the
market has now rallied moderately al
though the tone is moi particularly good.
The Street has made up its mind, how
ever. that the reports about the Mexican
situation, published In the morning
papers, are decidedly exaggerated,
though 1t thinks. where there is so much
smoke there must be considerable fire
Neither the corn nor the cotton markets
reflected any relief from the long-con-
tinued drought. and the rains appear to
have been entirely insufficient and con-
fined TO small areas of territory.
Europe was seller of stock to the ex
tent of about 5000 shares, OF which half
was for London. and the remainder for
Continental account on direct cables.
T. l. Mason bought Reading and Steel,
said to be for Baruch. who is in Paris
The bears say Germany has issued orders
to pay nothing more IN gold.
Compromise effected between the South-
ern Pacific and its locomotive and train
crews. Miners at Coal Creek. Va. have
accepted settlement in voting II per cent
advance in wages. Foreign cables saw
the gold shortage in Germany is rapidly
assuming proportions of a crisis. De-
partments are warned to pay out only
pa per money. Railroad arbitrators will |
announce the complete personnel OF the !
board. Small volume of new business in !
rolled Steel products.
S. B. Chaplin & Co. TO W. p. Hibbs &
-o.-The less favorable European situa- !
ion with the bad influence OF our |
strained relations with Mexico, and the
ontinued drought over the Southwest /
;aused great deal of liquidation today. F.!
-ondon houses sold over 30.0O0 shares on !
'alance and outside buying was still re-
'orted as light. The prospects are, how
ver, that support will be kept up in the
most active stocks to prevent the market
rom developing any sudden sharp |
Jumps until after the Southern Pacific
took held by Union Pacific has been dis
ributed. 1t is hard 10 see. however, the
reliability of anything beyond slight and I
advances from this level under
REVEALING conditions. II