The Washington herald., 1913-03-16
NEW YORK BANK STATEMENT
WALL STREET GOSSIP

One of the most conservative houses
expresses the opinion that the money
crisis is over for the spring.
Big traders. who are buying Union
say they expect the modified plan for
dissolution will prove to be more favor
able to Union than to Southern Pacific.
foreign house reports London and
Paris buying of Copper on further reces-
sions will be found.
\ large commission house says STAN
dard issues are purchase on weak
spots for the present.
A majority of office traders, according
to our investigation. have looked upon
the Union matter as one of the heaviest
"overhangs" of the market.
Canadian Pacific shows strength on
account of buying for London account
based on the improved foreign situation.
Reports received indicate Reading
stock has been acquired by very strong
interests.
in Steel are making attempts to cover
and are finding limited offerings.
Hartman & Co.-American stocks
were heavy in London yesterday, largely
because the Union Pacific plan is ex-
pected to fail. 1t expired by limitation
at midnight. at which time the Union
Pacific forfeited $4,000 to the under
writing syndicate. The necessity OF
forming new syndicate is expected to
make this failure cost the Union Pacific
ut Loo * AZ %
politicians in destroying property OF
Union Pacific and Southern Pacific
stockholders will no doubt contribute
largely to the satisfaction of the bear
party in the stock market In anticipa-
ton of tariff reform imports for March
thus far are only about half what they
were a year ago. II is possible that fear
of tariff reform is really the greatest
trouble with the stock market.
Despite monetary stringency and de
pressed tendencies of stock market. mer-
camille agencies are inclined to optimism,
and report that business activity is main
tanned with marked increase along some
lines. A storm. which spread over the
entire Middle West. Rocky Mountain re-
gion, South and Southeast. caused great
property damage and loss of life. Am
bassadors of powers met to-day in
London to discuss reply of Balkan allies
on questions of mediation. Cape gold to
the amount of esOO.0OO will be avail
able in London market on Monday, and
further demand for the metal is looked
for from Berlin. Pennsylvania Railroad
granted 10 per cent increase in wages to
striking workmen In Trenton district.
Boards of Manhattan Railroad Company
and Interboro passed amendment to third
tracking certificates, and hearing before
public service commission will be mere
formality.
Burras-I hear if the Union Pacific plan
does not go through the Union Pacific will
be in a position to make a better deal
than this one. l think market will go
higher.
Evans-The market continues to back
and fill. with dealings almost entirely
professional General underlying condi-
tons fail to show any improvement. how
ever. and under such circumstances it is
wiser, in my opinion, to sell stocks when
they are strong than it Is to buy them
when they are weak. We are still in a
bear market, and it is hard to make
money on the long side in a bear market.
W. B. Hibbs & Co.-The reorganization
of the Senate committees shows that the
younger element in the Senate, who are
pleased to call themselves the progressive
forces. gain some positions of vantage.
and taking the situation by and large,
the progressives have fortified their
power.
However, the elder statesmen have not
altogether gone into the discard. Take
the Finance Committee. which will
handle the tariff. Simmons. of North
Carolina, the chairman. is a conservative
He will not vote to cut and slash the
tariR indiscriminately. Stone, of Mis-