The Washington herald., 1913-06-18

and Ohio shares in the treasury Of the
Pennsylvania Railroad will receive the
necessary approval Consequently, II Is
said that a plan is now being considered
for the Pennsylvania Railroad TO take
all. or a much larger amount of South
ern Pacific stock, giving treasury stocks
other than Baltimore and Ohio in ex-
change. II Is learned also that still an
other plan. which has received consider
alton. is for a group Of men and financial
institutions friendly to the bankers d.
rectly allied with the Union Pacific to
take the Southern Pacific stock not ex-
changed for Baltimore and Ohio. IL that
plan goes through. and hold II for two
years or SO. The plan calls for the pay
ment on account of substantial amount
of money to the Union Pacific, the bal
ance to be carried by the latter COM
pany. The stock would be lodged with
some prominent financial institution. but
would not be DISTINGUISHED. the voting
power being placed in the hands of the
purchasers
Europe sold 2O.oo0 shares Of stock in
the New York market. Some of the sell
ing represented the balance on the days
arbitrage operations with London: the
remainder represented direct orders from
Berlin and Paris. The sales about offset
rope yesterday. Berlin's selling was
chiefly of Canadian Pacific: London's
selling consisted of Union Pacific and
United States Steel common. Both Ger
man and French sellers OF American
stocks lately have gone deep down in
their strong boxes for securities to liquI-
date here, IL the antiquity of those GER
tificates, which have turned UP In the
New York market from abroad can he
taken as proof
A great number of certificates Of the
stock sold by Europe lately are turning
UP in Wall Street. A stock exchange
house on Monday received a bundle OF
5000 shares OF United States Steel. con-
signed to il from Paris. No single GER
tificate in the bundle was for more than
ten shares. The papers were old and
much creased. indicating that they had
been In foreign possession for a number
of years Had any further evidence beer
necessary that the certificates repre-
scented real liquidation by the French
people, tie names upon them would have
carried absolute conviction. Stock made
out In the impossible names Of French
princes and counts comprised a large
portion of the bundle; stock made out in
the names of humber Frenchmen COM
prised larger portion. But what was
most interesting. and possibly most sig
the certificates were made out in the
names of women.
Hot weather has made New York brok-
ers anxious for holidays. Already they
have signed petitions for closing the
Stock Exchange on Saturday. July 5, SO
that they may have a three-day recess
then.
Since early last week one thing has
been demonstrated, namely, that the in
vestment buying effected has in good
measure lghtened the load of stocks
which European selling made Wall Street
bear.
Mention OF tariT changes still appears
to hold sway over some stocks. Beet
Sugar was weak for a short period in
the days early trading. and the reason
assigned was the prediction, made by
Henry T. Oxnard before the Senate
investigating the tariff lobby,
regarding the state OF the sugar indus
try in event OF a removal Of the sugar
duty.
The accident report of the British
Board of Trade shows that in the cal
endar year 1872 the casualties due to
train accidents amounted to s67. namely.
% passengers and s employees killed, and
50 passengers, l5i employees, and 4 other
persons injured. The number of pas
sengers killed is larger than in the
preceding year