The Washington herald., 1913-09-03
WALL STREET GOSSIP
London Copper was up shillings from
Monday.
Northern Pacific, July gross earnings,
increase, $S22, Ia; net decrease. S2O.54O.

In a suit filed by the government Tues
day afternoon the United States District
Court is asked to adjudge the Reading
Coke and Coal Company, defendants as
engaged in combinations in restraint of
trade and to perpetually enjoin them
from further monopoly. 1t is charged
tthat the ownership by the Reading Com
pany of controlling interests in the capi-
tai stocks of the Reading Coal Company
and Reading Railway Company consti-
tutes 4 combination in restraint of
trade. Pending the disposition of the
suit, it is asked that the holding COM
pany be enjoined from voting or receiv-
ing dividends in respect of any part of
these stocks. The ownership by the
Reading Company of controlling interests
in the Schuylkiu Navigation Company,
Wilmington and Northern Railroad Com
pany, and Central Railroad Company is
charged to constitute q combination in
restraint of trade, and II is asked that
the company be made TO dispose Of its
holdings
HeldeIbach. Ickelheimer & Co. have re-
ceived $4,000 gold from Buenos Ayres.
Kuhn. Loeb & Co. announce that the
sl9 100000 PENNSYLVANIA 1-2 per cent Gen
eral Freight Equipment Trust certifi-
Gates which they have recently been
offering have all been sold.
Government cotton report, So per cent.
PENNSYLVANIA system for July Ctotal
lines)-Total operating revenue, increase.
1896, ,G53; operating income, decrease,
1872, ,7i6
Reading system for July-Railway COM
pany net earnings, decrease, $4,000.
Coal and Iron Company deficit, increase,
sS35. OF; Reading Company net income,
increase 1859. Net all companies, de-
crease, $4Os, ,32S: surplus. decrease, s4l2, SIS.
Erie Railroad for July-Gross revenue,
increase. s156.s65; operating income, de-
crease, S1S3,S24
Atlantic Coast Line for July-Operatins
revenue, decrease, slO,6O6; operating in
come, decrease, s63, ,262-
Recent strength in American Can
stocks is not considered of any special
significance, but is thought to have been
simply in sympathy with the general
trend of the rest of the market. Direc-
tors of the company will meet soon to
declare the regular quarterly dividend of
/ "a per cent on the preferred stock, but
according TO present plans nothing will be
declared in the way OF back dividends on
that issue.
The decline in New York Central yes
terday was due to the fact that under
the full crew bill the New York Central
put 1000 additional men to work on its
trains yesterday, thus creating heavy
extra expense from which the company
will receive no return.
Potter, Choate & Prentice and Harris.
Forbes & CO., heading a syndicate OF
bankers, have purchased the State of
Tennessee temporary loan refunding 5
per cent bonds, which were issued to re-
tire s1,6O0.0O0 penitentiary bonds and re-
demption bonds maturing October 1 next.
The Liggett & Myers Tobacco Company
has declared the usual quarterly dividend
of S-4 per cent on its preferred stock,
payable October / to holders Of record
September 16
Yesterday was the final day for sub
scribing to the certificates representing
Southern Pacific stock formerly owned by
the Union Pacific Company. A repre-
sentative of the syndicate said that 1t
would not be possible until some time
after the close Of business to give exact
figures regarding the extent to which the
certificates had been taken.
Directors of winona Copper Company
called an assessment of 81 per share pay
able September g.
z. & c. Randolph to W. B. Hibbs &
Co.-The opening was strong and active,
the only exception being New Haven.
which opened down 5-S on the bad ac-
cident reported on the road. Southern
Pacific was a notably strong feature, |
opening up / IA per cent On reports that
the offering Of Southern Pacific had been |
Almost entirely absorbed by the stock |
holders. Canadian was another strong |
opening up 3-4. Plenty of /!
stock was supplied on the advance, how |
ever, and the market soon began TO hesi- |
tate. The first weakness was apparent |
In New York Central. The combined |
lines of this company showed a decrease |
in net for the month of July of over |
S90o0 The main feature of the rail- |
road eaI nings for July now coming to |
hand is the heavy falling of in net of |
many in portant roads and the number of
reports showing such falling OF is ap-
pareniy giving food for thought to many !
investors. A bad impression was created
by the government report on cotton. |
which showed a deterioration of over
eleven points The strength of the corn !
market also had an unfavorahle effsct and