The Washington herald., 1913-08-10
QUIET STOCKS
TONE FEATURE
Mexican Situation, with Sug-
gestion Of Violence, Is
Interesting Factor.
TRADERS ARE APATHETIC
Market Shows Hardening Feature at
Close, but Price Changes Are
Unimportant.

were StitTdHy Quicl ,
Traders were apathetic.
Canadian Pacific and Union Pacific
were the leaders in weakness here and
abroad. Metropolitan preferred was the
only one of the ordinarily active issues
to show any degree of strength. Erie's
preliminary report for the year aroused
favorable comment
OF the news factors the Mexican sit
uation was the most interesting because
of suggestions that violence might be
expected in Mexico City inside of twen-
ty-four hours.
Before the ,close the market showed
hardening tendency, but price changes
were unimportant.
The steel tonnage figures given out
shortly after noon showed, was ex-
pected, a large decrease. The falling
off for July amounted to 407,S6l tons,
bringing the aggregate OF orders on
July 81 down to 5.59 .315 tons.
All things considered, the market
did not act so badly might be sup
posed. Corn rose a point on the Chi
cago Board of Trade on crop damage
stories, and this caused hesitation. 1t
is argued that the figures shown in
the government crop report do not rep
resent the actual damage done during
the last few days. Cotton also indi-
Gated a disposition TO climb, and Au-
gust delivery was five points higher,
this also on the crop damage.
That there was some recovery be-
fore the tap of the bell was due to
the fact that the weather map showed
signs of rain in the Southwest and
also in the corn belt
No Activity.
1t was a weekend market purely.
At no time was there any activity in
lA.1 1traAS awe
not severe, save on Mexican Petroleum.
which received another of l 3-4.
On most of the rails ii was less than
L. point Wabash preferred made
good record. gaining IL points.
Union Pacific and Southern Pacific
held their own tenaciously.
American shares in London closed
lower on account of the poor condi-
ticn of American corn.
Among New York losses were Anal
vamated Copper. L.: American Car
and Foundry Ii: Canadian Pacific.
L.: Utah Copper. "a; steel common,
Ia: Erie L.: Reading, II: Norfolk
and Western. Il. and Erie first pre-
ferred, 3-f.
Delaware and Hudson made the best
gain. advancing ] point. Wabash was
Up S-i. The Harrimans were steady.
Southern Pacific advancing 3-S and
Union I'acit;c IL.
The Curb was irregular.
American Can
The earnings of the American Can Com !
pany in July were appreciably o=ttHr !
Than for June. and showed a considerable !
Improvement over the same monta Of |
last wear The exact figures are not
known as Yet. but estimates place re !
net at close TO slO00.Oo0. From August
10 December net is expected to he |
si.G0CO1 or more per month. The :ate |
summer and all of the fall is the best |
part of the Can company's year. The /
production of the company will make II l
record this year. as several new products |
have been added to the companys hst- |
These include special contract with the
NicNutt Can Company, which takes "a |
large number of special cans to contain |
gasoline.
The next meeting of the directors of
the company will be held about the last
week in this month.
Local Money Market.
There is but one trouble report from
local bankers Collections are poor. re-
newaIs are plentiful. 1t is the ason
Of the year when every one requires
money. Merchants, jewelers., retailers,
&c. all want cash to meet maturing
obligations or discount bills. The great
vacation crowd has drawn out or will
within the next few weeks, over $S,OcN,-
pro The spendeTs rarely send anything
hack At the same time there is big
business in banking by mail through Il
the sending of checks to credit or ac-
counts of the wealthier Vacationists.
Banks have ample cash for caring for
their customers, hut they are making /
no effort TO encourage new lines of ac-
tivity. Rates average about 51ea6 per
cent.
Visiting hankers have their own ideas
of the proposed currency measure, and
have talked the matter over freely with
government iinancers and bankers gen.
orally The general opinion is that there
will he no financial or rate currency
legislatio At this session of Congress. l.
Outlook for IocnI Stocks.
1t would seem as If the chances were
for slow market in local securities for
the rest of the summer. Speculation is
DEED, unless revived in railways, or
something unexpected or expected de
relops in the gas situation. Much capii71
is invested in Washington Gas stock to-
day, rore or less unintentionally. ca p:i:;l
which, perhaps might have been placed
in other stocks.
Disbursements in August will be ibe:Si
here, the Railway dividends being .'-
heaviest.
There may be something In the way #
a movement in Capital Traction.
though the liqCidation of 1,75o shares Ess
rretty well filed any demand for that
security. Support was given it and ar,
advance probably will be taken advs =
age Of to ,iquidste these holdings
Bon.ls. which are now much lower than
the average price of our market for the
last five years, should find consideranis
activity. Potomac IS, consolidated and
ID L.. 4.