The Washington herald., 1913-03-26


efficiency will show in earnings.
A large commission house says the
conclusion of the Balkan war will be
| followed by Europe buying heavily of
copper metal. and suggests that cop
per stocks be purchased on recessions.
The opinion is held in important
quarters that developments in Wash
/ ington will from now on be of the
most importance as stock market fac
tors.
II is reported banking interests con-
slider the money situation well in hand,
both here and in Berlin. The view is
expressed that the stock market has
discovered the principal adverse fac
tors.
Good buying of the granger. is un-
derstood to be taking place by West
ern houses on the prediction of big
winter wheat crop. Reports from the
winter wheat States of the Middle
West show very promising conditions.
| The action of the Anaconda direc-
tors in declaring a regular dividend
means there will be no increase in the
rate of the Amalgamated dividend. Ana
Conda is producing about "60 OO0 np1
I
dicates earnings at the rate of sl3.-
100000 q year on a lucent copper
market.
There was a decidedly better feel
| ing noticeable on the floor Tuesday.
based on the better news from abroad
and also on the technical position Of
the market. Traders also are buying
on the runor that the Baruch crowd
| is making an effort to run in the
shorts.
| The Anaconda Copper Company has
declared the regular quarterly divi-
dend of - cents per share. payable
April l6 to holders of record at noon
April :. William C. Rockefeller at
tended the meeting.
Senator Owen. chairman of the SEN
ate Committee on Banking and Cur
renCv. and Representative Glass, pros
pective chairman of the House COM
mite. have arranged for confer
ence next Thursday 10 take up the
question of possible currency leSisla-
tion a the extra session.
At meeting Of the directors If the
Associated oil Company a dividend Of IL
per cent was declared. payable April Is,
! This Is the first dividend since MarCn.
I
The British Columbia Copper Company
| limited. has passed its dividend for the
current quarter on January II. and thrca
months previous ? per cent was paid.
Owing TO the shutting down OF furnaces
/ and to various other unfavOrable cOndI-
tions the Company's earnings in February
We're very small. 1t is understood
it Is proposed to spend a considerable
amount of the surplus earnings in i'm
1rovemcnt and development work and also
in the purchase Of the securities OF the
new Dominion Copper Company. in which
the British Columbia Copper Company al
ready has a 63 per cent interest.
Evans-From what can see over here
| feel that ! can advise buying stocks.
| They have not rallied much Yet and
a lot of people are waiting to buy. not
considering the short interest. which Is
large. of course there are many unfavor-
able conditions but market docs not wait
for everything to look good before II goes
uP. consider market well liquidated.
over sold, and a purchase right now
It is understood that the new plan for
the dissolution Of the Hartman roads has
been practically completed and that a
representative of the company left for
Washington last night and will confer
with the Attorney General regarding the
matter tomorrow.
J. W. Harriman-My opinion is Wall
Street has practically completed its Iiqui-
dation- 1t now awaits the Presidents
message to the extra session. II that
message contains a proposal for cur
rencv reform. it will create a most fav-
orahle impression. for the unanimous
opinion here is that our antiquated sys-
TEN is the cause for all our ills. 1t is
inelastic and unsound, and unless this is
done and right away. having another big
crop to take care Of besides an enormous
kan wars destruction, such financing can
only he done bv continued LIQUIDATION of
securities. ! am personally most hope
full and feel that such step is in con-
temptation by Mr.. Wilson and that values
are cheap.
In answer to cabled inquiry of its Lon
don correspondent concerning the fnan-
cial and war situation and the pOssbili-
ties of the Bank of France paying out
gold, the Boston News Bureau has the
following reply: THE financial conditions
essentially sound here, but are a return to
normal. and paying out of gold by the
Bank of France will depend entirely
upon the course of European politics
Signs point to early peace which will
relieve all markets and release boarded
European sold. Much cheaper money,
however, is unlikely because of enormous
actual and prospective demands for new
capital to replace wastage of war and
increased ornaments. 1t is believed the
worst has been seen in Germany, though
interest rates are still high"
Paris cables in answer to a similar
i inquiry: Optimism is increasing Am
bassadors conferences have practically
settled the worst part Of the Albanian
difficulty. and we should see a general
resurrection of business. European pow-
ers are now in agreement in respect to
peace terms, and the general opinion
prevails that the Balkan states will ac-
cept these terms Nevertheless the Bank
of France will not release any gold until
peace has been signed, and then only
gradually"
E. & c. Randolph-The market was
strong from start to finish yesterday.
opening higher and Gaining in strength
as the day wore on. Trading in the last
hour became quite animated, and the
entire list has shown a very strong tone
with the highest prices made near the
close Undoubtedly the greatest part of
the buying came from shorts, but there
was such a small quantity OF stock for
sale the buying was sufficient tto advance
prices sharply all along the line. Some
Of the specialties which of late have
been so weak, scored notable advances,
among which were Beet and Rumley
In the late dealings the list was led by
Union. Reading, Copper, Smelters, and
Steel, and the rise in these caused the
market to close with a decidedly cheer
full tone. Foreign advices were better,
g. IL ..z-r,.