The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-04-25
WALL STREET GOSSIP


c. ]. H.-This is just fade-away mar
ket. Nothing back of it; no buyers.
The stock of the Goldfield Mines Conn.,
pany will be removed from the list of
the New York Stock Exchange on
June 16
The weakness in New York Central is
due to some selling on the firemen's
wage increase, while Brown thinks 1t is
on the recent sale of short-time notes.
Sellers small and scattered outside of
1,oOo. by Joseph Walker.
The Attorney General said after court:
Il will file a statement agreeing to July
l, but opposing granting lower court to
postpone within NJ its discretion" This
makes an agreement for postponement
certain. as the railroad men will consent
to July !.
The market remains absolutely dead
locked. The general news, containing an
advance for the firemen and unea siness
in Europe over the occupation of Scutari
Is unfavorable, but it is doubtful If il
has any effect of Importance on the mar
ket, which acts as IL it would continue
within very narrow limits pending some
new important developments.
Stewart Mcnamara had an interview
with the Attorney General yesterday
morning in regard to the procedure to
be allowed in the Union Pacific case in
the Supreme Court Thursday.
The Illinois Central has ordered 800
furniture cars, 500 refrigerator, and 500
stock cars from the American Car and
Railroad will have 1900 freight cars
built by the Canadian Car and Foundry
Company in addition to the 400 cars re-
Gently ordered from the Pressed Steel
Car Company. Although few orders for
rolling stock have been placed this
month, equipment manufacturers are
looking for a resumption of active buy
ing in preparation for the fall traffic
movements. There are inquiries in the
market for approximately 26.000 cars and
375 locomotives
The Bank of England rate is I'M
changed, 41-2 per cent. Proportion of
the Bank of Engiand's reserve to liza
bilities is now $3.50 pee cent, against 1870
last week, and compares with a decline
from 1850 to 1874 per cent in this week
last year.
pany took no action on the common
dividend due at this time.
Spaid-Am told to expect little more
aggressiveness on the part of the bears
in the stock market.
Consolidated Gas declares the regular
quarterly dividend of ~ per cent
A motion was made in the Supreme
Court yesterday by Stuart Mcnamara,
acting on behelf of Paul ID. Cravath, for
an extension of time for completing the
dissolution plan of the Union Pacific
Railroad. The government. is willing to
extend the time to July /. but is not will
ing for unlimited extension after that.
The Attorney General. who was present
in court, was instructed to put the gov
ernments stipulation in writing, and
couple Of days was allotted for that pur-
pose. There is no difficulty, except that
the government desires conclusion
reached by July ], and does not wish the
case to drag along indefinitely before the
lower court. John c. Spooner was pres
ent for the railroad. The court said:
agree" and Mr.. McReynolds and Mr..
Spooner smiled assent.
Although the copper metal market rules
quiet, the tone continues strong, with all
the leading interests holding at 15z cents
for electrolytic. At the present time,
Europe is practically out of the market.
According to well-informed authorities
in the trade, the intrinsic position Of the
metal is strong, and there are no in
dications of any shading Of prices.
The action of the governing committee
in deciding to strike from the list on
June 16 Goldfield Consolidated stock was
due to the fact that the company violated
the regulation which requires that duty
of the registrar and transfer agent in
New York City shall not be performed
by the same institution. The stock will
not be removed from the list IL the
requirements regarding the registrar and
transfer agent are complied with prior
to June 16.
s. B. Chaplin & Cove have the fol-
lowing telegram from our crop expert,
Oscaf~K. Lyle:
Topeka, Kans.-Any apprehension on
the Kansas wheat has been temporarily
delayed by rains in sections needing re-
lief. The loss IN acreage will be small
Some wheat was blown out by recent
winds. Outlook all right now. but may
be different later II the State secures
an average yield of fifteen bushels per
acre on the 100000 acres, the yield will
be the largest the State has ever pro-
duced. In the past fourteen years this
average has been exceeded but four
times. A new high record is a posi-
bility. but 1t looks now as having slim
chance of being realized. The States re-
quirements for food and seed are 10000 900
bushels
1t has practically been agreed by the
and the ]. p. Morgan & Co. that the
time shall be extended from June 80 to
December 81 in which the bankers will
take and pay for the first block Of S7S-
100000 new Interborough first mortgage
8 per cent bonds
Postponement of the date by which the
bankers have to take FIRST years block