The Washington herald., 1913-03-09

4
| Predictions are made that a labor re-
adjustment Will take place within the
Eext six months favorable TO capital.
| Commission houses of wide experience
continue 10 advise tn" purchase on
weakness of Reading Brooklyn Rapid
Transit, St. Paul. and Copper.
| Evansville market is unable TO stand
up against the threatening monetary
outlook which prevails all over the
world and seems once more to have
| started on It's downward course Ii is
quite significant that such an important
stock as Union should have made a new
low for the year yesterday. Ii looks TO
me as II lower prices are ahead of us.
The Times SAYS in a Berlin special
that Germany is raising taxes because
OF fears in connection with the birth Of
la new Balkan united nation. special
to the same paper SAYS that civil war
threatens Turkey. The demand of the
allies for indemnity is reported TO be de-
laying peace plans.
n. J. * CO.-Brcak in Standard Oil
'SUbsidia ries continues and brokers fnd
Practically no support in several issues
Standard Oil of New Jersey is offered
at 3S6. a break Of 20 points overnight;
Standard OIL of California Is offered at
lsa: Atlantic Refining. 515 TO 81; South
ern Pennsylvania on, which sold re-
Gently at 1850 is offered at SOS. with no
bid. and Standard Oil OF New York is
offered at 600. with go best bid.
Moler-Thc money situation AT B. rim
will require ver, close watching curing
the next ten days, in the opinion of
the largest banking interests. rom ad-
vices received from their correspon-
dents Yesterday. 1t is estimated that our
gold shipments TO that point will aggre-
gate about sl0.ooOG90. the 10000 taken
yesterday marking the commencement
of the movement, but. rs the president
of the Guaranty Trust Company says.
everything will be satisfactorily ad-
justed In due time. rs all the gold Eer-
lin wants 10 pay for can be secured at
London and New York. and the moro
we send the less danger of any real
strinGency there In financing the April
first settlement will develop as that
time approaches.
Failures last week, 2s against Us the
previous week. Copper exports for week
ended March S. totaled 1o.|.6 tons Re
ports show winter wheat conditions are
very cncouragin and new cotton crop
=
Of iron and steel in 1872 totaled t2s3. 49, 77;'2
with s2ie. $50 III in 1911. Fedora,
Court at Milwaukee has denied motions
Of dissenting stock and bond holders
or the .Nllis-Chalmers Company. and af-
frmed sales OF local property for S6.cA.
ON3 on Condition that with sales in other
States bondholders may realize g. l.:
cents on a dollar.
E.N
foreign selling on direct orders. London |
being closed no estimate can be made |
of volume of this selling. but 1t is re-
ported to be large. 1t would appear that |
the situation abroad Is worse than gen.
orally believed over here. and until this |
liquidation stops I do not favor buying |
stocks.
Shotweli-Stocks were sold Yesterday
because of the financial condition in Ber- |
lin. where the new army tax has Gre
ated CONSERVATION. The report that |
President Wilson might postpone COR
sideration of financial affairs also |
caused selling. for Wall Street had con-
fdently expected early revision Of the
financial system
S. b. Chaplin & Co.-The further sharp
break in the general stock market yes,er-
day was wholly due to the same influen-
res which started the rather general SELL
ing of stocks Friday morning from the
recent feeling of optimism
This pressure of liquidation has been
'f somewhat forced character on the
readjustment from recent
rore favorable market opinions, owing
10 the unexpected crisis which has de-
'eloped In Berlin's money market. chiefly
rom the failure of the bankers there to
float the sl37. 600 new en-
oerial German and Prussian 1-e per |,
'ent bonds. II
Renewed activity by the bear element
II conjunction with this lduIdat ton
orced prices to " points lower, 80 that
his loss coming on top of the declines
ince last Tuesday has brought most OF
he active stocks back to the previous
ow levels of a fortnight ago
That was the time when We first began
o take an optimistic view of the markets
'csition in these letters. the modification
4 which was forced Wednesday. With
rices now back to the recent low level,
no the money situation abroad so COM
licated. there is apprehension that fur
her weakness will develop on the foreign
markets before the forced liquidation now
cinE on at Berlin has run its course /,