The Washington herald., 1913-04-04
WALL STREET GOSSIP

Boston--Goldfield Consolidated earnings
for February. net, were $34S, $50, or $l306
per ton The net cost per ton was $3.50
| 1t is reported that sales of Calumet and
Helca copper. have been made at Is s-s
| cents recently.
| Oklahoma City-The. Governor of Okla
homa declined to APPROVE the full-crew
| bill passed by the Legislature.
| Phelps, Dodge & Co.'S March produc-
ton was 1921 ,53S pounds of copper, COM
pared with 11,230,S79 in February.
Talk of a reduction in dividend is caus-
ing weakness In Chesapeake and Ohio.
to good reports from the trade and
strength in metal.
London-Leading producers have done
ia large business in electrolytic at 10 IA
and Is 3-S cents. Amalgamated agency is
asking Is 1-2 cents. American Smelling is
not offering.
One Of the largest copper selling agen-
, cies has completed all the sales it cares
to make at Is 3-S cents, and has with
drawn from the market. 1t will not con-
slider any lower bid than IS IL cents.
Charleston. w. va.-At the annual
meeting Of the stockholders of the Brit
ish Columbia Copper Company, held here
yesterday, Joseph B. Dulany, c. l.
Stralem. and w. T. Henry were elected
directors to succeed Frederick Lewisohn,
Harry Bronner,> and John III. Seaman,
who retired. Other directors were re-
elected.
II. X. Burras-I hear the Presidents
message will be conservative and the mar
ket is expected to do better on it.
Louisville and Nashville February OPP
Grating revenue increasing $11.T5. Net op-
Grating revenue decreased SIT, 291. Operat-
ing income decreased s272,i76
The Rumely Company reports for the
year ended December 81 last, a surplus
for dividends of $l,S24.500 as compared
with s.. 464,309 in the year previous. This
is sufficient to meet the preferred stock
dividend of $Oo,sl4 and leave a balance of
81, Is, $50, which is equal to 1890 per cent
on the SO, 90S, 800, outstanding common
stock, compared with S31 per cent earned
on the $4,000 outstanding common
stock in the year previous. after allow
ing for fun per cent on the preferred
stock.
Colorado Copper Company-Thirteen
months ended December 81 1912, surplus
available for dividends. $425.9SJ. as COM
pared with s13S,ae9 for the year ended No
vember 80, 1911.
E. & c. Randolph-The market opened
quiet and fairly strong but stocks were
supplied around the opening level. and
before long a heavy tone prevailed, with
the entire list selling below Wednesdays
close. There was not much pressure.
however. and during the greater part of
the day prices fiuctuated within the mar
row limits. The Can issues were an
early strong feature, being well sup
ported from the start. In the last hour
a sudden buying movement started |
throughout the list, which caused ad- |
vances in all quarters under the lead or
Copper. Can, Reading and Lehigh. These |
stocks became very active and all of
them made new high records on this move. |
as did Smelters and st. Paul Rumely |
after showing marked weakness in the !
early dealings. rallied on the publication |
of the report, the common advancing |
four points. Activity increased on the |
late advance and the tone at the close |
was active and strong, with net gains |
in all quarters Of the list. Final prices |
were about the best of the day.
Potts says: Sentiment on the floor is |
very bullish on account of statements at
tributed to Mr.. Reid. 1t is said he has |
given out the word to the big speculative
houses to get aboard for big upward |
move. They are also inclined to play |
the long side on account of the apparent |
large short interest in the market. The
latter / believe to be partly fake or
rather a great deal of stock is being Dor
rowed against long stock that has been |
sold the past week. We heard the Bal /
kan war was over. 1t is still going on. i
We also heard the tariff cuts would be |
very moderate; it now looks as IL
sweeping reduction is going to be made,
The Union Pacific plan was about to be |
announced last week: where is it? The
flood losses were nominal: it now looks as
If they would run into many millions. We
also heard the money stringency In Ger
many was over; yesterday six banks
failed. In other words a speculative
clique was trying to put the market