The Washington herald., 1913-02-02
WALL STREET GOSSIP

International circles intimate that a
! short interest of considerable size exists
in Steel for account of certain London
operators.
Chicago private advices are still IA
vorable to the purchase of the Corn
| Products stocks on recessions.
Great Northern, Northern Pacific and
st. Paul are declared in specialist sources
to have been bought by a strong pool in
| anticipation of a favorable Minnesota
case decision.
The continual maturity of short-term
notes held largely abroad is said to be
preventing New York from keeping a
firmer grip on her own gold. Saving
banks in this country show a preference
for short-term notes where permitted TO
buy them.
There is a slightly better demand for
bonds. The Balkan situation holds back
the foreign inquiry.
w. B. Hibbs Il Co. say: Reports cir
sulated yesterday that the Ways and
Means Committee will be controlled by
the radical low tariff element In writing
the new tariff legislation can be authori-
tatively denied. The safe and sane"
new committee and will be backed by a
majority In the House to sustain them.
This, of course, does not mean the
writing of a bill at all satisfactory 10
Iprotectionists but IL does mean that these
Democrats who Will dominate the COM
mittee and the House realize that this Is
not a free trade country. They also
realize that II the radicals were allowed !
full swing. no tarifr legislation would be |
possible, as the Senate will never come |
to the Bryan tarifr ideas and a deadlock |
would ensus. |
Pennsylvania declared regular quarterly |
dividend of II per cent.
Pacific Lighting Corporation declared
quarterly dividend OF per cent on COM |
mon, payable February 10. to stock OF
record January 2S In 1911 ~ per cent |
was paid on common and per cent in |
1912.
The Rumley Company declared an in
itial dividend of IL per cent on its COM
mon stock, payable March 3, to stock of /
record February 30.
500 Line declared regular semi-annual |
dividend Of 81 per cent on common and |
preferred.
Anaconda net earnings last year ss-
timated close to SlS,O00O00. which would
leave a surplus Of Ss,250.0OO after divi-
dends, equal to about $LB per share.
Amalgamated Copper now paying at the
rate of IS share and estimated its earn
ings. exclusive of Anaconda, at 81, so 600
in 1872. Copper total net earnings avail
able for dividends, including Anaconda
equity, near $50 a share.
Evans-Strong efforts continue To be
made to drive in the short interest and
these have been successful 70 a certain
extent. 1t is this interest which has
kept the market strong lately and given |
II what little advance ii has had. or |
outside buying of good quality there is
practically none. and as soon as the short |
interests get sufficiently diminished, I |
think the market will again sell Off.
Gibson-The market acts all right and
appears to follow natural lines do not
believe there is any concerted manipu-
lation either way. Find no occasion to
change views recently offered. Advise
purchases of good stocks at this level
or on the little recessions for the pres
ent. IL
Information channels show a waiting
attitude on account OF Supreme Court
action Monday, for If the Minnesota case
does not come up then 1t cannot be
handed down for three weeks.
Fairly good authority that Can will
pay dividend on common shortly.
The report that Pennsylvania will is
sue 100000, 600 stock is unfounded. Their
financing for this year has not yet been
fully decided and it's unlikely that more
will be done until after the annual meet
ing in March. In any event, il is not
likely that 5000 900 stock will be is
sued.
Reports show that business expansion,
which began IN 1912, was maintained dur
ing January, with iron and steel trade
continuing active. II