The Washington herald., 1913-05-30
Observation-Disclosures


that there is no knowing how .tarin
changes will AFFECT Central Leather. and
that this is important owing to the fiuc-
tuating character of the earnings even
under ordinary conditions
British-American Tobacco Company de-
cided to pay interim dividend Of per
cent, free of income tax. on ordinary
shares June 30.
White. Weld & Co. and Brown Bros.
& Co. have sold privately, subject to
approval by Public Service Commits
sion, a large part of the new issue Of
"a, 10000 Chicago, Roc: Island and Pa
cific Railroad per cent equipment notes.
Offering price is to net 81 -2 per cent.
These notes are a direct obligation of
the Chicago, Rock Island and Pacific
Railroad and are secured on new stand
ard equipment costing approximately
Sc, 81 200, the balance of the cost, Sl.lol,-
900, or 20 per cent, being paid in cash.
Missouri, Kansas and Texas $500 ooo
per cent serial equipment notes, pur-
chased by White, Weld & Co. and Of
fered privately on Sig per cent basis,
have all been sold. The Public Service
Commissions, having Jurisdiction, have
all approved the issue.
Hartman & Co.-Everybody is bear
ish, and the short interest Is getting
very large. 1t is not safe to make short
sales, except on substantial rallies.
Rock Island common Is weak on selling
by ID. Odell and Einstein. The bears
visit one stock after another until some
weakness is shown, and then they put
pressure on that stock. Watson 4 20.
bought Reading. selling all scattered
ottman bought Copper. Traders are
inclined to buy. No London trading OF
any size.
London copper market steady. on
Is. ID.
Southern Pacific for April, gross op-
Grating revenue increase S572,5 3s. Oper-
ating expenses increase s567.los. Net op-
Grating revenue increase 81, lzy.
ST. Paul April gross operating revenue
increase sss7, 3os. Net operating revenue
increase SSS9.s23 Income increase ssess. 90
The only buying of Canadian is short
covering.
The known movements of money for the
five days this week ending with the close
OF business on Wednesday indicate a gain
IN casn Dy the local banks Of S,SSS,930.
The banks gained net from the interior,
81. lSo.9 $50 and lost to the sub-treasury.
81, So, 90. a net gain as above.
s. B. Chapin & Co.-What gave prom
Use OF causing a better trading market
situation last week from the improved
conditions here and abroad was disslpated
by the disquietinE rumors which became
current at the opening OF the week re-
garding the financial embarrassment Of
the Frisco system.
Outside OF the loss of nearly all of last
weeks 8 point rise in Union Pacific and
) point advance in Southern Pacific. the
standard stocks. like Atchison. Baltimore
and Ohio, New York Central. Pennsyl-
van!a. Reading. and Great Northern pre-
ferred, and even Steel and Copper. are
only of to points from last weeks
prices There has been better support in
the way of investment buying on scale
in these stocks and the probabilities are
they will break away from the depress-
ing influence OF the weak position OF the
low-priced railroads and industrials.
There is also a good investment demand
for the new city bonds and other high
class railroad and public service bonds
and short time notes offering 43-i to L.
per cent interest return. However active
bullish speculation Is not likely to be en-
couraged again as was the case last week
until the Union Pacific matter Is definitely
out OF the way and the Supreme Court
has rendered its decision on the Minnesota
rate case, or there is some prospect of
the railroads being allowed to advance
freight rates.