The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-01-30
WALL STREET GOSSIP

II 41bu ~ A1b OVNNxx
The regular meeting of the director.
of the ClAo Copper Company will be
! held on February .. at which time ac.
ton on an initial dividend probably will
be taken. According to a prominent
director of the company the rate to be
declared has as yet not been determined
II. & Co.-AIthough one-third of We'd
nesdays business was in Canada stocks
the entire market held firm. This leader
ship was viewed with satisfaction he
cause it seemed to indicate that the first
| National Bank interests were friendly
| to the market. Furthermore the advance
In Canada was based on substantial
| earnings The short interest in all de-
partments OF the market is beginning to
get worried and Is liable to make an
excited attempt to cover at any moment.
Therefore, a continuation OF the advance
must be expected.
Directors of American Sugar Refining
Company authorize sale OF oU,vU OF It's
81, ~ shares of National Sugar Refining
stock to American stockholders at rate
OF one share of National tor eighteen of
American. Gov. Sulzer has granted re-
quest of Stock Exchange governors for
hearings on proposed legislation to re-
form exchange.
Net earnings or Canadian racine IN
December, increase SIS. $50 Tobacco prod
ucts corporation has purchased entire
interest in three large cigarette manu-
featuring companies and half interest in
another. Government expected to rest
its case in Steel suit to-day, adjournment
Will ha tgLr F,.- -f.r
Steel Corporation will present its de-
Tense.
Illinois Central has declared the regu-
lar semi-annual dividend of 81 per cent
Sharon, Pa.-It is officially announced
that the United States Steel Corporation
will appropriate 81. 10000 for improvements
to its works at Sharon. Farrell. and New
Castle next summer.
Chicago-Island Steel Company has de-
clared the regular quarterly dividend of
per cent.
Speyer 81 Co. has engaged $4,000 gold
for shipment to South America, making
its shipment on the present movement
81, O0o,Oc0
The Arkwright Cotton Mills at Fall
River have again passed the regular quar-
terly dividend on thes took. The last it
paid was per cent for the second quarter
in 1910.
Childs-There is 10 news On the floor
1t appears that market advanced on good
Steel earnings and technical ovcrsold con-
dition and, as usual on the rally met
liquidation from what Is believed to be
good sources. Bears sold stocks again
Wednesday morning and seem to feel con
iident that their position is the right one.
Advance in Can has not helped market.
Yesterday Brown and Foster & Louns-
berry did most OF the buying; today bust
ness is more distributed.
Illinois Central-December total revenue
increase, S6Sl,Ii1; net revenue increase,
s7Us, 10
The continued rise in American Can is
credited to the earnings for 1872 to be an
nounced at the annual meeting next Tues
day. These net earnings were approx
mately $500 600. equal TO III per cent on
the preferred stock or l0l2 per cent on the
common after the required per cent on
the preferred was parn. The sales of Jam
larger than were those for December.
London copper market steady. up Is Sd.
Rock Island lines gross for the six
months ended December 81 show an in
crease of approximately siO1o,OoO COM
pared with last year.
There is a widespread point to buy
Southern Pacific. 1t is said the Union
Pacific. while low on its merit, has not
the potential investment power behind
that now possessed by Southern PacI1c.
The dissolution of the two systems IS
responsible for this.
The buying of Harvester is attributed
wholly to the completion of arrange
IAnts for REIMBURSEMENT of capitalization
and organization in accordance with the
effort &c meet the demand made by the
government in its suit brought under the
Sherman law. International Harvester de-
Ciared regular quarterly dividend of 81
per cent OH preferred. payable March l.
Ex-Judge r. S Lovett. when asked
yesterday morning with regard to the re-
port that an agreement had been practi-
cally arrived at for the dissolution OF the
Hartman merger said: THE most / can
say is that we have not disagreed We
nave not come to nnal agreement in
the matter. however. Other than this, 4
have nothing to say on the subject.r
Evans - Impression gaining ground
there will be no melon cutting or special
distribution for Union Pacific. The
greater part of the Southern Pacific
stock in Union Pacific treasury will
probably be exchanged for Central Paci,
fc and balance will very probably be
disposed of to some syndicate, conse-
quently no Southern Pacific stock is apt
to come on market and it is for this
reason Southern Pacific will be strong as
shorts are covering.
S. 3. Chaplin & Co.-The further COM
plications over the Turkish situation put
a restraint upon the movement started
yesterday to broaden the market and
advance prices for the general list.
The disposition. however, is to regard
the speculative position as more favor
able, as We had so much bad news lately
the market is really in a better condi-
ton than for sometimes to respond TO
any favorable news developments, either
as regards the attitude of the powers
in Turkey or the sudden an
of an agreement upon salts
factory plans for dissolving the Union
Pacific merger.
Therefore. We find more inclination to
favor purchases OF any of the better
class of railroad and industrial stocks on |
further soft spots from the present level
for moderate turns than to suggest ad- |
at the moment to the bear side |
Of the market.