The Washington herald., 1913-02-14
Situation in Mexico Serves as
Pretext for Raid on
Stock Prices.
MOVEMENT STOPS SOON
Local Market Brisk with Railway
Shares and Gas in Greatest
Demand.
BY j. A. FLEMING.

stocks closed in Wall Street in the
midst of general rally, due to profes.
sional operations. This rally was started
hy the official denial by the President OF
the Locomotive Firemen that he had de-
cided to order a strike beginning Sun
day at midnight
The Mexican situation is the talk of
the Street, and in all banking circles to
the exclusion of almost everything else.
1t is considered as extremely threaten
ing and of very grave consequences.
Therefore, pending further Developments
suggesting armed Intervention by our
government will not be necessary, the
disposition here will be to advise the con-
tnuation of very cautions policy. From
the latest reports from Washington IL
looks as though pressure is being put
on our government by European nations
10 restore order, and as President Taft
l. refusing TO intervene at the end OF
his term, the matter is being put up
TO Congress for action. Whether such
action will be forced upon Congress be-
Tore the new administration comes into
Office is regarded by Mexican banking
interests here as depending upon events
during the next few days.
Presidents Policy Approved.
President Tafts policy is meeting with
general approval. the more so as he has
Indicated his determination TO take no
step without first consulting Congress.
The propriety OF this attitude is obvious.
in view of the approaching change in the
government at Washington, but more
than that it is strictly in accord with the
Constitution
The Danger spot is in this: When the
american war ships reach the Atlantic
and Pacific ports of Mexico. on their
MS sir fn f1..-
no YANKEE commander is likely to leave
bis boats swinging at the davits await
ing the unwinding of red tape at Wash
instOn, while Outrages are being COM
Titted ashore
- 1t is very tense situation. beyond any
doubt and is causing the deepest anxiety.
Once this crisis is bridged over, there
viii still be the interest in the policy of
tho incoming administration. In this con-
ncCtion, the next Secretary of State will
have big job on his hands, and there
is anxiety to know who and what kind
Of man will hold this portfolio.
The bears took occasion to sell the
market down about two points, making
use Of the situations in Mexico and the
reported railway strike. The slauGh-
ter OF prices was fast and furious for
time. but at the lower level many of
the railway shares and some of the in
duStrials received support, which started
a mild furry of covering by the shorts, |
and the rally coming at the closing hour
helped to even up the losses OF the day
and leave the market in a much better
position technically that could have
been hoped for earlier in the session.
Local Market Brisk.
In the local market stocks were quite |
active and prices firm. Trading was con-
fined chiefly to the railways, gas, and |
public utility corporation bonds, and a |
fair volume of trades was recorded.
At the annual meeting of the Norfolk |
and Washington Steamboat Company at |
the office of the company, foot OF Sew |
enth Street, yesterday at noon, the fol- |
lowing were reelected members of the |
board OF directors; John Boyd, D. J. |
Callahan, Daniel Fraser, Benjamin S.
Graves. W. 2. Hibbs. Clarence F. Nor
ment, George W. Pearson, y. II. Shea,
Odell ). Smith, Hylas T. Wheeler, and
Levi Woodbury..
At a meeting of the board OF direc-
tors. immediately following, Levi Wood
bury was elected president; d. ]. Gala
NoTment vice president; ID. ]. Gala
han. general manager; Odell S. Smith,
: a. -cretary-t The general man
sEer reappOinted the following: ]. G.
Williams, auditor; William II. Callahan,
general passenger agent: J. Allen Rior-
don, general claim agent; f. B. Bowling,
gent.
IutcrcstinE Investment Circular.
Kelsey. Brewer Il Co. bankers of Grand
I;apids. Mich. have ISSUED for distri-
button to conservative investors an in
toTcstiuE circular on a hiEh-gradc public
rt:Iity company operating in eleven grow
Ing communities, whose stock can he
purchased in small or large amounts to
ield better than per cent