The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-05-11
STOCK MARKET
SLOW, EASIER
Threats of Prosecuting Read
ing Under Sherman Law
SloYs Up Trading.
LOCAL TRADE NOMINAL
Bank Statement-Important Court De-
cision--Capital for Big Projects.
Liquidation of Labor.

this was increased to total OF SOvo,
tighter than many of the light days OF
1917
1t was simply a traders market. lit
tie scalping, the taking of a profit now
and then. but the great army of shorts
were so well satisfied with the outlook
that they did not. consider it the part OF
wisdom to cover. Long freedom from a
bull raid has made the bears anxious to
get the last eighth possible on their side
of the trade, and everything seems to
favor them but the crop outlook
The government announced another
prosecution against a railroad company
under the Sherman act and the Street
understands that this effective weapon
may be brought into play against other
roads at the pleasure of tt<s Attorney
Generals office. The suit now contem-
plated is against the Reading, with
view of making it give up control of the
Jersey Central. Other lines threatened
are Louisville and Nashville, Atlantic
Coast Line, New York Central, Pennsyl-
vania, Union Pacific, and others too nu-
merous TO mention"
Hope lor Decision.
Friends of the stock market, financial
interests carrying the burden and watch
ing melting values, are hopeful for the
Minnesota rate decision Monday, though
the attorney general of Minnesota does
not expect it until tho 26th. The bears
are also hoping for delay, or for an ad-
verse ruling on the rate case, all being
grist that will help them in their attacks
on values.
London was closed and will be over
Monday. AS general rule the stock
market was slow and listIess, with an
easier trend but with no serious declines
IL
and Western dropped 10 points on one
eale, il being one of the high priced
stocks that doesn't show on the sales
sheet daily. Reading lost a little more
than a point. Steel 1-2 point and Union
Pacific SIS. Jersey Central on the threat
of freedom dropped 8 points, and Della
ware & Hudson, . Both the latter stocks
are also high priced, seldom traded in
stocks, and the sale of an order or two
At the market is sure to result in lower
figures.
One of the important declines was
point drop in Steel preferred, while l..
4 n. lost points.
There was no life from Start to close
just a weary, dragging session.
Capital for Big Projects.
New capital available for large projects
in strictly high-grade, downtown invest
ments. the larger the better, is available
TO Washington through the decision of
4. ". Mclaughlin & Co. Incorporated.
of New York. to establish Rn agency in
Washington. turning over business to }.
Il. N & T. V. Huyck, an old and well es-
tahlished firm.
A. w. Mclaughlin e. Co. is the largest
mortgage bond house in the country, with
offices in nearly all large cities The
finances of this big company are not
available for the average small run of
loans, but mortgages of $1,000 to 81. 900 900
or even more if adequately secured can
be taken care of Oh short notice. None
but centrally located business retail and
Office projects will be considered.
The superior organization and strong
financial position of the corporation of
which J. V n. & T. B. Huyck are ex-
elusive agents should be boon to WASH
ington real estate and building interests.
John Poole Lectures.
John Poole, president of the Federal
National Bank. lectured on Friday last
before the directors Of the Bank of
W ashington Business High School to an
interested audience.
His subject was "Overdrafts," one that
p man who has served as cashier and |
president OF local financial institutions |
must be very familiar one. He also ex- |
planned the method of reckoning inter- !
-st on minimum monthly balances &C, |
as followed in local institutions. He ex-
planned that there was q law prohibit /
ng the making of checks for less than
Il, but that il was a dead letter and I
hat checks for small amounts were fro
luently drawn. Responding to queries /
Mr.. Poole stated that the reason that
here were not more women employed in /
he business was through the position
VI runner and boys make the best
Liquidation of Labor.
Many manufacturers hold that there
an be no pronounced falling of in the
prices OF commodities until there has
been at least partial Liquidation OF
abor. Costs are so high, they claim
hat a reduction IN prices wouIu bring
he margin of profit down to an unrea-
;onable level.
Commenting upon labor and the course
II prices for manufactured articles, a
New Jersey manufacturer says:
We are paying our worbmen higher
wages than at any time in our history
Dur customers are cautious and will
make no heavy purchase for future de-
livery as they hold that they will be
bile to obtain what they want at lower
rices later on. We are telling them that
ur increased costs, due largely to labor.
will not permit reduction in the prices
# our products, but this does not con-
'ince t1em.
I'VE are selling certain of our products
t SIS ton, and the margin of profit
hereon is very narrow. Our consumers
ell us that We will have to come down
0 at Ieast SIS a ton before they make
urchases for future delivery, but with
ur present high costs, sales at s25 q
on would mean an actual loss. Because
We have reduced prices even below SIS
ton in former years, and made money
ur customers believe we can do the
anne thing this year. With the present
ldustrial activity of the country the
aboring classes seem to have the upper |.
and. and are constantly making de-
hands for higher wages. They have
cen encouraged by the attitude of the
resent Democratic administration, and
ne proposition to investigate any re-
uction in wages after the Underwood
ariff bill becomes operative is not help
lg matters" Ia
The consensus of opinion i'm manufac-
lring circles is that there will eventual ID
have to be a drastic cut in wages,
ut no general change downward is ex-
ected within the next six months, due
the sold-up condition of most of the =
rge industrial corporations. Labor
,ntinues scarce, and as long as such {