The Washington herald., 1913-07-24

The Public Utility Commission of New
Jersey has refused to sanction the lease
Of the West Jersey and Sea Shore Rail-
road to the Pennsylvania Railroad.
The American Railway Association re-
ports as Of July Is: Total surplus cars.
80; an increase Of $50 cars over June
90
A dispatch from Houghton. Mich, Ays:
The threatened strike u on in the Lake
Copper country. Calumet & Hecla, and
Tamarack. are closed down. Mohawk &
Wolverine men are out, and the strike is
declared general all through the district
Simmons & slade-we still think stocks
1 are purchase on the weak spots.
Consols unchanged. London: Copper,
firm; up IS Cd.
Childs-On a reaction Of q Joint or 30
believe they should be bought. II
appears that an effort is being made to
encourage short interest by offers to loan
big blocks Of the active stocks.
Prices for electrolytic copper have been
advanced to H1-2 by practically all the
leading producing and selling interests
here, and sales have been made at the
new level. The demand from domestic
consumers show further Improvement,
| and 1t Is believed that the strike of
miners in the Lake district will stimulate
buying by domestic consumers In Europe
the buying Of copper continues brisk re-
suiting IN further advance in the price of
standard copper warrants as well as
electrolytic.
There was little business transacted on
the London Stock Exchange, but the
undertone Of the markets was firm in
t-s main The announcement of a South
Australian 4 per cent loan of s1.O00. 600
caused habbiness In consols. The home
railroad group was confused. but price
changes were narrow. The American de-
partment was a shade above parity. bur
dealings were small Realizing caused a
decline in Canadian Pacific, rumors of
new capital issues depressed South Amer
lean rails. There was no change in the
hopeful feeling as to the Balkan situation. |
but foreigners were dull Traders are
still awaiting the outcome of the ad- !
Journed government labor conferences in
South Africa.
s. B. Chaplin & Co.-The stock market
developed no new feature and reIapsed |
into dullness, transactions showing a ma |
terial falling on from Tuesday. Price |
changes were irregular and of little con- |
sequence, being about equally divided be- |
tween gains and losses.
laborers' strike in the Lake Superior
copper mines caused moderate depression |
In the copper stocks of that region.
Favorable developments are looked for /
as result of the conference now pending
between the Mediation Board, the rail.
road managers, and representatives of |
the employees. but no early announce
ment is probable. as negotiations are
likely to continue for several days
The extent Of the public following Gre
ated by the recent advance is no doubt
small. and maA result in
another period Of slowly receding prices
before the upward turn is resumed
Stocks opened dull and a little heavy
with traders inclined to play for a re-
action on unfavorable crop news. Trac-
tons easier as a result of the death Of |;
A. N. Brady. Al
E. & c. Randolph to W. B. Hibbs
Coiraang throughout the morning was
OF a istiess character and without any
feature Of Importance. Pressure was
brought to bear against the various spe- |;
cialties, by which the petroleum stocks
were the most affected. California Petro- |:
leum fell to Is Is and the preferred d.
ciined IL points to 461-2 Mexican Pc
froleum dropped 81 points to IS IA, The !
selling Of these stocks came from scat Il
tered sources and made effective by lack
II demand. Price changes in the other {
'tocks have generally been In the shane | I
Of functional declines. The impression q
m the floor Il that the issues in which
he late Anthony Brady was interested
will be held intact, ana that none Of ID
hem will come ON the market. Govern.
nent bonds are fractionally lower. others
We irregular. Business during the after.l