The Washington herald., 1913-05-23
STRONGER Tone;
MORE ACTIVITY
General Belief in a Solution Of
Union Pacific Problem
Helps Stock.
GAIN In MERGENTHALER
Increase in Seven Months, 500, 900.
Railway Preferred Freely
Bought.
GAIN In MERGENTHALER
By /. A. FLEMING.

strength. The shorts did not cover very
freely, being skeptical regarding the ru-
mors that were responsible for the inn
provement
First and foremost came the report
that plan for the settlement of the
Union Pacific-Southern Pacific muddle
lad actually been evolved at meeting
called for yesterday morning lmmedi-
ately some timid shorts started to cover,
and when the ANNOUNCEMENT OF the be-
ginning of the journey East of Southern
Pacific officials was made more strength
developed and about a point advance re-
corded throughout the list.
AS stated yesterday in this column, the
market has been sold to a standstill, to
point where it needed further unfavor-
able factors to change it, while it was
so balanced that good news would give
it a rise. This rumor, which could not
be confirmed, save by stronger rumors,
was the first bit of good news.
The success of the Chinese loan, and
even of a Mexican loan, at once gave
the list a better feeling. More favorable
reports came from crop sections and
from expert views on the situation every
where. The preparedness of the entire
country for the changes that are gradu-
ally working out is one of the factors
that are helping in the rehabilitation of
stocks
In the Party.
In the Southern Pacific party coming
from San Francisco there are William
Sprouts the president. W. F. Herrin. +.
o. Mccormick. and Z. f. Calvin. That
they should start so soon after the spe-
cial committee had adjourned at this end
looks as if solution were at hand.
Some claim that it will be a dissolution
by receivership, but the chances seem
against this as a necessity. The Iatter
alternative would probably not be fol-
lowed by a rise in stocks.
May Be in on Monday.
The decision in the Minnesota rate case
is likely 10 come down on Monday next.
General Smith of Minnesota,
made this prediction nearly a month ago.
but he also predicted that the lower
court would be reversed. which would
be smash for the market.
The street is hopeful that the Interstate
Commerce Commission. now that Mr..
Lane is engaged elsewhere, will permit
the freight advance being encouraged to
this view by the absence of vigorous
protest on the part of the shippers or
ganizations, the latter evidently coming
TO the conclusion that there is some
justice in the demands of the roads.
Tne AB11ns.
At the top of the day Union Pacific
was 1-2 points higher, but held l IS
gain; Reading. IL; Steel. SIS: St. Paul,
Is Northern Pacific. Is; Great Nor
thern, "a: Consolidated Gas. l IS: Cop
per and Smelling, 1-2; Sugar. Cotton,
Atlantic Coast Line. Rock Island, Mexi-
can Petroleum. and other stocks a
point. The only weakling was Enam-
melting. a slow stock, which was p
points off.
There seemed to be but little interest in
the tobacco shares Money was 5-4a3
per cent.
Good gains were made in Lehigh Valley
and Southern Pacific. AS showing the
go 900 shares, double the usual volume.
Senator Scott Better.
Nathan b. Scott. former Senator. and
now president of the Continental Trust
Company, is recovering from a delicate
operation, the removal of a cataract from
his left eye. He has been in the hospital
for a week, but expects to return to the
bank in a few days. in better health for
the enforced rest.
Frank 4. Munscy in Firm.
The Wall Street Journal announces that
Frank a. Munsey, president of the
Munsey Trust Company. of this city, will
become a partner in the Baltimore bank
ing and brokerage firm of Middendorf,
Williams Co.
Local Securities.
Sales Of 1856 shares of Railway preferred
on change yesterday featured the session.
1t was a case of good investment buy
ing and the price throughout was 30,
with his figure bid. 1t was not syndicate
or pool buying, but scattered investment.
A little sold at 30 IA, but 90 was the
ruling figure.
Mergenthaler moved up to 21S L. No
Lanston sold.
Washington Gas continues in plentiful
supply at S.. but there seems to he al
most an equal amount of buying orders.
Sales yesterday at g.
Capital Traction, 20 Is for a quotation
lot.
Bonds were not offered as freely, and
there was is of point improvement on
Railway Is at S31-4 and on Potomac
Consolidated IS at 1o1 IA.
willard to Go to Boston.
1t was learned yesterday that President
Daniel Willard. of the Baltimore and
Ohio Railroad and other prominent rail-
road men, will go to Boston shortly to
confer with shipping interests and men,
bcrs OF the Boston Chamber of Com
mefce regarding the proposed per cent
increase in freight rates. Other railroad
men who will probably accompany Presi-
dent Willard to the Hub are w. c.
Brown. president of the New York Cen
trail lines, and Samuel Rea, chief execu-
tive of the Pennsylvania Railroad. Ac-
cording to present plans, directors and
transportation committees of the Cham
Der of Commerce in Boston will enter
tain and confer with the visiting railroad
presidents during the afternoon of the
Gay that they make the trip, and in the
evening a mass meeting of those inter-
ssted will probably be arranged.
Bishop Bank Director.
George T Bishop, president of the
Washington, Baltimore and Annapolis
Electric Railroad Company, has been
elected director of the National Bank
of Baltimore. OF which T. Rowland
Thomas is president.
MerEenthaIer Earnings.
Mergenthaler is having one of the
most successful periods of its career.
April was the company's largest earning
month. The year ends in October. For
the seven months to April 30 the earnings
increased $4,000. while in April LISA mt
chimes were sold.
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