The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-06-10

same as last June ana september.
The court holds in the case of Penn
sylvania Railroad versus the Interna-
tional Coal Company that the coal
company could not recover division
of money for alleged rebating, as no
damages were shown.
A special from the London Central
News says that of the National Rail-
ways of Mexico note issue'76 per cent
was unsubscribed.
Spaid-Am told there Is another
break coming in Union Pacific and Steel;
may not come right away, but my in
formation is 10 sell at these prices.
Winter wheat condition-ss.5 per
cent, against s1.1 per cent last month.
and 74.3 per cent last year; ten-year
average. S0.7 per cent.
Spring wheat condition-93.5 per
cent, against 95.s per cent last year.
In the naval stores" case. involv-
ing criminal proceedings under the
Sherman act, the government loses, on
the ground of faulty instructions to
the jury.
G. B. Chipman-Believe we are still
in a declining market. and no rally of
consequence can be looked for for the
present.
Attention Is called In conservative cir
cles to the fact that the good industrial
stocks are now selling on an average
~ to per cent basis.
A weII-informed institution states that
Erie will have no trouble with matur-
ing obligations this year, and that the
| completion OF double-track work this
fall will place the company in a position
to increase its net earnings by s5.0o0,OoO
per annum. q
1t Is noted by>~investment firms that
with the expected resumption OF per
cent dividends by Ontario and Western
the stock bought around present prices
would anord an income yieId OF ABOUT
Z per cent.
John Inglis. OF Chicago, estimates the
wheat crop OF Kansas at s,Vuo,Vuv ana
Oklahoma at 100000 bushels
Kuhn. Loeb & Co. are offering SIS. os
Pennsylvania general freight equipment
trust az per- cent registered gold GER
I tllcaIeS WHICH
April1. 1914, to lS.S.
The net surplus of idle cars on May n
was 5O.sOs. against 5o..3i on May Is. ana
y. 1s9 on May l.
Lehigh Valley. quarter ended March
81. 1873 surplus after charges. decreased
| s.S5,is.
to H.4 fNr In httt
market IS very thin. Specialists have
many stop orders. and technical position
| is poor \ bear raid would undoubtedly
start fresh liquidation.
The right OF the government to sue
the Adams Express Company under the
commerce law was upheld by the Su-
preme Court yesterday.
S. p. Chaplin & Co.-Renewed heavy
selling for foreign accounts of nearly
| 5000 shares, with the markets there
closing weak from further forced liqui-
! dalton and fresh apprehension over a
clash between Servia and Bulgaria, added
I to our markets recent troubles The con-
/ tinued liquidation is not so much the re-
| suit Of anxiety over affairs at Washing
| ton or anything bad hanging over the
market II is largely due to the ex-
/ igencics Of the general situation being
| strained by so many new stocks hav-
ing been brought out at London. Ber-
! lin. and Paris. as well as here. the past
six months. having created too heavy a
load of undigested new securities for the
underwriters to take care of. They have
been obliged lately to sell their good
| stocks to meet such requirements. and
our market offering the best opportuni-
ties for such liquidation has been called
upon to stand the brunt of this pressure
How far this slump will go before il
subsidies is a speculative problem for
consideration in buying stocks now either
| for investment or speculative purposes