The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-04-03
WALL STREET GOSSIP

1t is understood banking circles ar
much encouraged over the prospect TO
| currency reform at an earlier date thai
previously expected
| While the Reid-Moore and other in
terests are understood to have beer
active, the floor traders are inclined
it is said, to regard the advance as
natural upward surge after long de
| preston.
| Investment houses are reported t,
cansider Can preferred attractive at
present prices i'm view of the furthe
bank dividends in prospect, the larg,
earnings and the expected stimulus O
common stock dividends later on.
Conservative sources are. said to esti
mate that the flood loss of United
States Steel will be much less than tn,
equivalent of one-half of one per CEN
on the common stock
Foreign dispatches from well inform
ed interests indicate copper metal price.
| will gradually work higher.
1t is believed in well informed quarters
that the local traction stocks have
been quietly accumulated on the feel
ing that bullish possibilities associated
with the subway financing have not
been fully exploited.
A leading Boston interest is again
calling attention to the merits of Chino
Copper. which is expected shortly to be
earning over S per share.
Market is off on Wilson'S article in
Worlds Work. printed i'm the news
papers yesterday.
Readings output of anthracite for
March will approximate $4,000 tons as
compared with 1,i72,O0o tons during
March. 1912.
Missouri, Kansas and Texas February
gross increase. s32i.672 Net increase.
ST.
The move in Can was made by traders
who found the offerings very light
Some operators have taken aggressive
bull position upon the market owing to
the removal of several uncertain ele-
me1rts. but We are inclined to advocate
taking profits on strong spots
ittsburg-Practically all steel plants
and blast furnaces are getting into oper-
alton DAYS in advance of the time that
seemed likely during the heighth of last
weeks floods. The Youngstown Sheet
and Tube Company is running in all de-
partments. The Carnegie Steel Com
pany's Ohio Works and furnaces are also
in operation. Partial resumption of New
Castle and Sharon plants is reported.
J. ". Harrnan-Look for a steady mar
ket and that il will be favorably in
fiuenced by Presidents message to spe-
cial session. l understand 1t is a good
one.
There is a Rubber meeting today. and
rumor has it they will put the stock
on per cent basis.
New York and Orleans February gross,
decrease. s57,373. Net decrease, S.102.
Surplus decrease, $685..
Childs-I see nothing significant in the
selling. Foreign houses were sellers and
only reason given was profit taking on
stock bought lower. i consider the whole
situation much improved, and believe
stocks should he bought on these re-
actions Very good buying of Reading
and Anaconda Copper preferred is re-
ported. and the market position of these
stocks justify a good rise.
Misunderstanding points 10 a gradual
Easing up of the money situation here
md in Europe. The gold export move
nent il now definitely over Foreign
houses are still inclined to buy back
he stocks they sold during February
Ind early last month. Forecasts on the
lew tariff bill are much more favorable
han a month ago. There will be much |
ess dra site legisla ton on that point than
lad been supposed.
On fresh weak spots any of the good |
lctive stocks of the railroad list should |
lgain prove a good purchase.
st. Louis & San Francisco regular quar- |
erly dividend on first preferred payable |
lay l.
The foreign exchange market opened |
weak with demand sterling off ten points |
rom yesterday.
At Illinois Central Offices news has been
eceived that the levee at Cairo broke at
O'Clock yesterday morning and the sit
Ia ton there is as bad as last year when
he Illinois Central main line was put out
f commission for eight days. The line
5 now cut in two and the company is
etouring its passenger and perishable
reight trains over the bridge and by st.
.ouis, San Francisco and Texas into
Iemphs. No details have been received
S to the damage to property
T.. & G. Randoph-Our market opened
airly active and nor much changed,
mt initial prices were in almost
II cases about the highest of the
fmost all cases about the highest of the
ay. Stock was supplied freely enough
D cause moderate receSsions all around
ne room before Il o'clock. and. although
Cling ceased at the lower level, the mar
ct moved during the rest of the day !
-ithin narrow limits without tendency in
ither direction. Some of the Moore
.eid specialtieS were rather strong.
ehigh Valley and Can being conspicu-
ue. Brooklyn r. T. was strong all day
lille Interboros moved rather erratically, '
ut on the whole showed strong tone.
all moneyfruled at AZ per cent and the
me of the time money market was
gain somewhat easier. In spite of the
improved money outlook abroad, the Lon
on market was rather heavy and dull.
rading today was on small scale and
ct changes only fractional Some slight
lcresed pressure just before the close
aused the tone to rule soft in the final I
ealings. II