The Washington herald., 1913-02-27
WALL STREET GOSSIP

s2o35.74s yearNago.
Southern Railroad January operation
revenue increase, 1856, ,461: total net in
crease. sl24,24s; operating income increase,
Silt, $50.
Colorado and Southern January operat-
ing revene-Increase. $l14,2sO; surplus, in
crease, $4s,9s2-
Childs-See no outside business coming
in: strength is caused by short covering.
Authority granted big Four" Railroad
to issue S,o0o.0O0 OF per cent bonds to pay
indebtedness, make improve
ments, and buy new rolling stock.
Total interest and dividend disburse-
ments for March by railroad and indus
trial corporations estimated at Sis, 167, 7sS;
increase, S14. los over 1872.
The Louisville and Nashville Railroad
Company reports for the six months end
ed December 81 last a surplus Of s., 900, ,776.
a decrease of SILL
The Lake Shore & Michigan Southern
Railroad has declared an extra dividend
Of per cent payable March 81.
Content buying Steel at 81. Stop orders
are on the other side OF the market to-
day and there are a number to buy be-
tween 81 and g.
St. Louis-The feeling in legal circles
here is that the findings Of the State
Railroad Commission of California will
not be interfered with by the United
States Circuit Court for this district
which is now hearing argument In the
Union Pacific-Southern Pacific dissolu-
ton.
The market position OF Southern Paci-
fc Is interesting For weeks past there
has been selling of the stock by specu-
lators. who protected their bearish COM
mitments by buying the rights. Now
there is possibility that the plan may
be delayed. or even that the stock held
by Union Pacific may not come upon the
market, in which event those who are
short would have TO obtain their require
ments out of the stock now in the hands
OF the public, and without the aid of
the additional $l26. .O0o.O 900 of that issue.
Efforts of the European powers to end
the Balkan war have been unsuccessful.
II was learned to-day that Turkeys
reply to a circular note of the European
governments was rejected, because of its
contents. As result. the peace negotia-
perhaps not until there had been a de-
cisive result of the war in the Balkans.
McVickar-I think Can preferred is a
purchase for a turn.
Subtreasury gained ssas0o from the
banks on Tuesday and since Friday has
gained si,s63. .0o0.
The rise in Can following the return
from Baltimore of directors after tes-
tifying in the governments inquiry into
the companys affairs. was regarded as
an indication that the large interests
were satisfied that the company's posi-
ton was legal. and that the inquiry by
making this clear. would result in BEN
eft instead of injury to the stockholders
Union Pacific for January-Operating
expenses. increase. sisl ,5A: net operat-
ing revenue. increase. st6o.3lo; gross
earnings increase, S56.1oo
1t is reported few weak spots in
In the next few days
Private advices from Pittsburg say the
buying movement in Steel for new de-
liveries shows further decrease.
L
accounts have been covered In Copper
and Steel in the latest breaks.
Net earnings of the Steel Corporation
In the current month are estimated at
nearly s12.OO0.Oo0. which is regarded as a
very satisfactory showing for a short
month
According to Chairman Mccall, of the
public service commission. the signing
Of the subway operator contracts did not
materialiZe, owing to objection raised by
George j. Gould and other directors of
the Manhattan Railway.
A very careful examination of street
credits is reported to be the policy of
the banking interests at the present time.
The main feature of the bear talk is
that large interests see nothing on which
to base an upward movement in stocks,
and are content to be inactive.
At Baltimore yesterday the United
States grand jury resumed its investiga-
ton into the affairs of the American Can
Company with the presence before that
body of George N. ID. Tyler. of that city,
as witness. The probe is being made
into conditions of the company as gov
erned by the Sherman antitrust act.
Final action in the case by the grand
jury is expected this week. Witnesses
from Nnw York are said to have been
summoned. but they did not put in an
appearance yesterday morning.
Pittsburg and Lake Erie declared an
extra dividend of 5 per cent, payable
March 81, to stock of record March q.
Although the annual report of the B. F.
Goodrich Company does not separate the
good wilr' and patent account from
the actual plant account, the charge of
for depreciation. IL has been learned,
amounts to $4,000 on slightly over 81, :
100000 plant valuation, or close to 4 per
cent.
S. b. Chaplin & Co.-The fact that the
rally in Wednesdays market was of such
uniform character, ranging from IL
to 2 points under the lead of the stand
ard railroad and industrials shares in
dicated the much-improved feeling that
Is now prevailing from the extreme PES
smism which was SO general in yester-
days slump.
The principal reasen for yesterdays
improvement is doubtless traceable to
Attorney General Wickersham's state
ment regarding the decision of the Cali
fornia Railroad State Commission as be-
ing more in the nature of a local mat
ter, and not warranting any change in
the government attitude in approving
the plans for the dissolution of the Un-
ion Pacific merger. The statement of
the premier of Austria that all the Bal
kan war issues are pea ring a aetfle-