The Washington herald., 1913-09-05
WALL STREET GOSSIP

In the report issued today B. W. Snow
places condition Of corn at 64S with an
Indicated crop OF 2,3J0, 0,00ooO0 bushels on
his own acreage or $500 10000 on govern
ment figures.
subtressury lost $4,000 to the banks
yesterday and since Friday has gained
81, 477, 600.
Chesapeake and Ohio lines July operat-
ing revenue increase SIS, 9O9 Net operat-
ing revenues increase $l9S52. Surplus
decreased $3.50
Proportion OF the Bank Of England
reserve to liabilities is now $3.50 per
cent, against $3.50 per cent last week
and compares with an advance from
- IL per cent to 10 3-4 per cent same
week last year.
London copper firm; up Is Isd from yes
| terday.
Amalgamated Smelling and Refining
Company and Amalgamated Securities
| Company reports for the six months
ended June 90 compared with 1912. Net
earnings decrease, $5J6,66S. Gross income
decrease, s9l6, ,331. Net income decrease,
$3.50, 406 Surplus decrease, $50, 406. New
York, Ontario and Western July gross
increase, S101sa Net decrease, S641l0.
Surplus decrease, ssO,OoI.
1t is learned that some OF the in
fiuential directors Of the Erie Railroad
are desirous Of resuming dividends on
the preferred stock of that company
at the earliest possible moment that II
may be done without impairment to the
operating efficiency OF the system.
E. & c. Randolph-The opening was ac-
tive and slightly lower. with the traders
disposed to take the bear side. Their
! attempts at forcing liquidation. however.
were not to much avail, and stocks as
rule were well supported. New Haven
seemed somewhat oversold and rallied
quite sharply. Around noon increased
selling somewhat caused pronounced
weakness in some of the leading issues.
Reading and Union Pacific being pressed
for sale in considerable quantity. but the
operations as a whole looked very largely
professional and Of real liquidation there
was not very much. The selling was
based largely on the drought and heat
in the Southwest and prospect Of very
poor crop report on the gtn. The market
later became very quiet at slightly above
the lowest prices of the day.
Important sources are credited with
having obtained information TO the effect
that there is not much chance OF fiat
advance in freight rates until the physi-
cal valuation plan is further along.
Professionals appear to be more bear
ish on New York Central than upon
any other single stock. The increasing
burdens put upon the road. expanding
materially during the next few months,
are made capital OF.
Large banking houses are now buying
first-class mortgage bonds OF railroads
in a very persistent manner. It is in
ferred that they see an era OF idle
money.
Increased lines of cotton goods orders
are being received in New England cen
tiers, according to Boston advices.
Specialists in United States Steel say
there is a private borrowing Of the
stock that indicates the formation of a
large short interest
The London market feels the effect OF
the American crop views. Speculative is
sues show lack of support.
II is expected that the Bank of France
will reduce its discount rate soon.
A reaction is reported in German trade.
receipts OF railways falling of.
s. B. Chaplin C Co. TO W. B. Hibbs &
Co.-Further scattered liquidation with
much less demand for stocks generally
either for speculative or investment ac-
counts was the feature of today's trad
ing. The precarious outlook for crops is
now attracting general attention, and We
think IL will become more of a factor in
giving prices a further declining tendency
when the next government crop report on
September S confirms the deficient yields |
in everything but wheat.
Another sharp rise to new high record |
prices for corn and the continuance OF the |
drought through the central and south |
western part Of theg country, together !
with a sudden heavy demand for call |
money and the prospect Of another un- |