The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-12-12
WALL STREET GOSSIP

| UHLL UIHLLI uUUOtl
The American Agricultural Chemical
Company declared its regular quarterly
dividends of l 1-2 per cent on its pre-
ferred, and l per cent on its common
stocks.
The Iron Age quotes steel bars at SL2C
per 100 pounds, compared with SL5 a
week ago. a reduction OF 81 ton
The guess of 1O4 members of the New
York Cotton Exchange on tOday's govern
ment report is 1S61S,0oo.
There will be a government report is
| sued next Wednesday on acreage and
condition Of winter wheat and rye.
The statement of earnings submitted
| TO the stock exchange by the United
| States Rubber Company in connection
| with its application to list additional
| first preferred stock should be gratifying
| TO the shareholders. Not only did the
| company have a surplus OF Sl.JUe,SiS over
| interest and dividend requirements for
| the period ended June SO last, but the
estimated surplus for the next three
months, or up TO September 30, was SSyi,-
| g54.
N L. Carpenter & Co-The balance Of
the market is breaking away from New
Haven and We believe that many OF the
active issues are a purchase. We favor
Union. Reading. and Utah Copper. The
market may hesitate at times, as We
have liquidation in some special Issues.
but for the long pull We believe stocks
mentioned will show a satisfactory proft
in a reasonable time.
s. B. Chaplin & Co. TO W. B. Hibbs-
lie passage of the New Haven divi-
dend. which was considered necessary by
the directors in the best interests of the
stockholders as well as to conserve those
of the bondholders, was not allowed to
upset the market. There were good sup
porting orders in all the standard rail-
road and industrial stocks at the OPEN
ing and these held bear raids in check
and restricted liquidation.
aside from New .Iaven, the only really
weak features were American Telephone
and Telegraph and Pennsylvania Each
declined to a maximum of 2 points from
yesterdays closing.
THE liquidation in New Haven was of
a general character forcing its price down
to 81 Is. The heavy speculative short
interest in the stock was covering on
this break and this helped to sustain
its price during the day. With no divi-
dend now in sight for the stock for
long time and further scattering llquida-
ton likely. its price should ultimately set
tie around 60.
1T looks as though the general market
will now continue merely in a trading
position for only moderate rallies"
Hartman & Co.-Irregular recovery is
expected in stocks. Shrewd operators are
hedging by purchasing the leading rail-
road issues whose margins of safety in
earnings are reasonably large and SELL
ing industrial stocks that have been I'M
der suspicion on various kinds for some
time. Investment will be found to ex-
pand on a much larger scale in case of
attacks on prices. for Investigations show
the presence of orders to buy at recess
sions. These orders have already been
placed in many western railroad stocks.
1t seems to be a very strongly fixed
opinion that the railroads will benefit
from the tariff, get higher freight rates
secure material cheaper and find a labor
readjustment curing the course of the
next few months. Reading is reported In
position to advance sharply. Information
channels are favorable to 1t. New Haven
Is said to be in a final drive to shake
out holders The buying OF Union Pacific
and Southern Pacific is reported of high
inside class. Steel, American Copper pre-
ferred and New York Central are said TO
be heavily oversoId.
New York Financial Bureau to w. r
Hibbs-lrregular recovery is expected i'm
stocks. Shrewd operators are hedging
by purchasing the leading railroad is
sues whose margins of safety in earnings
are reasonably large, and selling indus
trial stocks that have been under sus-
picion of various kinds for some time.
II seems to be very strongly fixed
opinion that the railroads will benefit
from the tariff, get higher freight rates,
secure material cheaper, and find a labor
readjustment during the course of the
next few months.
Reading is reported in position to ad-
vance sharply.
Information channels are favorable to
II.
New Haven is said to be in a final
drive to shake out holders.
Buying Of Union and Southern Pacific
Is reported of high inside class.
Atchison is said to be well taken.
The Traction issues are well bought
Steel, Amalgamated, and New York
Central are said to be heavily oversold.
Experts in European finance now hold
that American securities of worth are
at intrinsic levels" says a |
private, cable from London.
Z. & e. Randolph to w. B. Hibbs &. |
co-The opening was rather remarkable
In that material advances were made IN |
many issues in the face Of a very sharp
break in New Haven. There was a large
and excited crowd around the New Haven
post long before the Exchange opened,
and sales were made at the start ! l-2
points apart, the first transaction being
recorded at 5000 shares at 50 IL to &, |
against Y "a at the close yesterday. AL
though there was some little hesftancy In
the rest Of the market at the start al Y