The Washington herald., 1913-08-29
WALL STREET GOSSIP

| Inc pTOpOIllOu OF lue DdHh VI Ems
lands reserve to liabilities this week is
$3.50 per cent, against $3.50 per cent last
week, and compares with decline from
s7-S per cent to 49 1-2 per cent in this
week last year.
The United Metals Selling Company
has advanced its price Of electrolithic cop
per TO Is cents. Phelps, Dodge & Co.,
Incorporated. also advanced their price
to that level. A good business is being
done.
The Subtreasury gained s1,55S,OOO from
the banks Wednesday. making a cash
net gain since Friday of No,S1Eooo.
| Bengal was advanced from to per
cent.
August rolled-steel orders Of the United
States Steamship Corporation are ex-
pected to aggregate 10000 tons and ship
ments $4,000 to 100000 tons.
The foreign exchange market was weak.
Sterling was of about Is points.
George ]. Whelan says United Cigars
Stores sales for seven months increased
s., 10000 over 1912.
A Washington dispatch says the gov
ernment will soon file an action to dis
solve the anthracite coal merger, whereby
the Lehigh Valley Railroad is alleged TO
control S. per cent OF the coal produced
along its lines.
All Of the leading American copper SELL
ing and producing companies, as well as
all of the large dealers in the principal
European markets, have advanced their
To-
lithic deliverable in October and Novem-
ber. and good sales are reported at that
figure. One of the leading producing in
terests on this side has advanced its
price to Is cents. and it is expected that
the other producing and selling compa-
nies will advance to that figure today at
noon.
An announcement OF the suit Of the
government against the Philadelphia and
Reading will be made on Saturday.
The Railway Steel Springs Company
declared regular quarterly dividend of
lH per cent on its preferred stock.
Southern Pacific July operating reve-
nue. decrease. $3.50 Operating expenses
increase, $7IO,7Oo Net revenue decrease,
$7s6, ,1s2.
A representative of the Southern Pa
Cific syndicate says that while no definite !
figures can be given until after Septem- |
Der 2 as to the extent to which the stock |
has been subscribed for by Union Pa
Cific shareholders. there is every indica- |
ton that the undertaking will be a |
great success. He thinks that extended |
comment on the matter at this time is |
unnecessary and that the sharp advance |
in the rights from II to IS cents is the !
Decentralization possible OF how the mat
ter is going. He says that any figures |
that may be given at this time must be |
based purely upon guesses.
The Calumet and HecIa Mining Com
pany yesterday declared a dividend of |
S6 a share. This is a reduction of 81 a
share from the payment declared three
months ago.
Perry. Coffin & Burr have purchased
at 1OOO2 an issue OF $4,000 St Paul ~
Per cent thirty-year bonds.
B. L. Winchell. the new director of the
Union Pacific, has announced the con-
summation OF an agreement with the
American Express Company, effective
September Is, under which It becomes the
the Union Pacific system in its offices in
London, Paris. Berlin and Rome, and |
many other important cities in Europe l.
The growing interest abroad in the Pan
anna Canal and the increasing travel to
San Francisco and the coast, resulting
from the Panama Pacific Exposition Of
1915 is one of the reasons assigned for
this extension of the facilities OF the
Union Pacific passenger department.
Childs Company has declared the regu-
lar quarterly dividend of 1-2 per cent on
the common and 81 per cent on the pre-
ferred stocks. payable September 10 The :
books close September and reopen Sep
tember II.
Sears. Roebuck & Co. declared the reg
llar quarterly dividend OF 3-4 per cent
on the preferred stock. payable October
10 stock Of record September Is
Norfolk Southern Railroad has declared
the regular quarterly dividend Of 1-2 of l
per cent on its stock, payable October
to stock OF record September Is. l.
The American Manufacturing Company :
has declared the regular quarterly divi-
lend of 1-2 per cent, payable October /. :
z. & C. Randolph to W. B. Hibbs & {
Co.-The article in the New York Herald, J
published Thursday morning, claiming
hat Huerta had practically yielded to
Mr.. Wilson's proposal, caused a sharp
Ipturn in the market this morning, and N
although the truth of this dispatch was d
ater denied. the fact that Mr.. Lind has s
Ieen ordered back to Mexico City and
hat fresh negotiations are under way .
gave hopes that the whole Mexican affair :
nay soon be satisfactorily settled and '
hat Mexico will in fact accept the good i
,ffices of the United States in hope of i
ettling its internal troubles. The mar
ret reacted somewhat after its opening
ADVANCE, but turned strong again on the
that Mr.. Lind had been
'rdered back to Mexico City, and the en- ]
ire list now shows a good tone. Smelt-
RS, Of course, was the most favorabIy | r
Effected by the Mexican news and ad- b
'anced sharply above 81 The pool con- !
inues active in the Interooro isues and .
eports that a dividend at the rate of | 4
'er cent will be declared next Wednesday L
re still current in the street In some b
uarters it is stated that l per cent of Z
he back dividends may aslo be paid off =
t that time. II
The Democratic caucus has adopted l.
evised reserve section to the currency 2
ill. reducing the amount of reserves re-
uired to be maintained from Is to II per II
ent of their aggregate deposits in the
ase of country banks and from 20 to Is II