The Washington herald., 1913-01-18
WALL STREET GOSSIP

Institutional buying for investment
for interior account is reported TO De
taking place in the high grade standard
rails-dividend payers.
Reports from banking interests in New
England say business is going on at a Dig
volume, but after the neXtythree months
a decline is expected. Much OF the new
business contracted in manufacturing
lines is conditional upon and sub)ect u
the tariff status.
Some of the big professionals are said
to have Joined the rally movement IN
order to get a higher selling basis.
Complete settlement of the Balkan ques-
tion will stop gold export to FRANCE
says an international source.
There is a remarkable unaninity OF
ofice sentiment favoring the sale OF IN
fdustrial stocks like Steel, Smelters' Cop
per, and Sugar on rallies.
Private advices from rrttspurg say
there will be another large buying move
ment in Steel in the spring. Export de-
mands cannot now be sausned.
Rumors are reviving favorable to the
purchase of Brooklyn Rapid Transit and
Interborough preferred on this setback.
Hatzfeld-Traders are trying to force
market down.
Moore-No pressure TO sell stocks; mar
ket ought TO do better.
The situation and outlook of the gen.
eral market from the STANDPOINT OF polit-
les and the continuance OF activity by
the Pujo committee in extending its in
vestigations to the further unsettlement
nnfaYOTa
10 warrant the expectation of anything
better than slight and temporary rallies
from the present level.
Unless a decision favorable to the rail-
. Soads is handed down by Supreme Court
Monday the chances are prices will work
any Importance.
Mr. wickersham dashes to pieces the
report that he is TO become special gov
ernment counsel to handle Hartman
merger dissolution plans. On March 10
he sails from San Francisco for a trip
around the world. and will not reach the
United States until next December.
Selling of the market was not alto
gether professional. although the great
bulk OF trading is Of that character. The
chief influence against the market Is the
refusal of the most important investors
to buy freely These interests express
their determination TO stay out of the
market in a big way until the war abroad
is settled and until they learn who Is to
be in Wilson's cabinet.
Henry W. DeForest has resigned from
the directorate of the Union Pacific Rail-
road Company, and is TO remain di-
, rector of the Southern Pacific Company.
The price of blue annealed sheets at
mill has been increased to Sl.75 per 100
pounds for No. 10 This is an increase
Of s. per ton. 1t is expected that the
next few DAYS Will see an increase of 81
per ton in the prices for black and gal
vanized sheets, following the advance
scored in the blue annealed product
s B. Chaplin & Co.-The rally in the
general stock market during the last hour
was largerIy due to covering of shorts.
This and what new additional buying
there was in evidence from the general
line of traders and commission houses
appeared to he influenced chiefly in an
tiCpatinn of some recovery after such
heavy decline and drastic liquidation as
have occurred since the commencement
OF business on Monday.
II viii require the development Of fa-
.voTable factors TO stimulate general mar
ket sentiment for a recovery in prices of
: at least three four points. in view OF
over the weeks events in the political
situation and the continued activities OF
the PuiO Congr~ssional committee and
the unsettlnC influence the hearings on
the revision Of the Tariff is now eXercis-
ing in general business.
Regular dividend in GTeene-Cananea.
The reported movements of currency
this week indicate Il gain in cash by the
banks Of about SlS."N,0O0.
The copper metal market seems to
have settled on basis of about l6 l-2
for electrolytic. 1t is understood that
substantial transactions were made on
that basis Thursday afternoon and yes
tsrday morning. and some estimates Of
the aggregate volume of business being
placed at lc9 u at Il, ,03001O pounds. Some
Of the Leading producing and selling in
terests reported an active inquiry for the
metal. both from European and domes-
tic consumers. yesterday. and the pros
poets of additional purchasers are
HSright.
4 Gov. Suzer says that he is going to
krroceed slowly in framing his message
p to the Legislature on the New York
Stock Exchange. He says further that
there is no great hurry in the matter.
and that he will not write the message
until ne clears MS desk OF some OF tne
things which require his immediate at
tention
The Court Of Appeals of Annapolis.
Md, Yesterday held that the good roads
lean of Sl.5oN0oo for Baltimore County
sanctioned by the Legislature Of 1912 is
unconstitutional The decision reverses
the opinion Of the Circuit Court of Bal
timore County. which held the act to be
valid.