The Washington herald., 1913-02-04

WALL STREET GOSSIP
st. Paul earnings for December show
gross increase Of s1.052, 7s5: December
net increase. s3l9.oS1: six months gross
Increase. s6.65o.6l1; six months net in
crease, AHs,5s5.
One OF the market features was the
development Of a buying movement in
Southern Pacific Is. which sold up IL.
points to 81. The advance revived the
rumor that the bonds would be called,
but conservative bond meh expressed the
opinion that the movement did not fore
shadow anything more than a joint guar
antee by Union Pacific, strengthening the
individual guarantee by Southern Pacific.
supply OF bonds was met on the ad-
vance, and some of the selling appeared
to be for European account.
Stocks Of foreign copper. England and
France. and afioat. February l. 2s,e2s
tons, a decrease Of ISL tons in the past
two weeks. Stocks at Rotterdam and
Hamburg increased ~ tons.
Standard Oil of New Jersey declared
dividend Of $40 per share. payable Feb
ruary l6' to stock Of record February 4:
In the case OF the United States vs.
Wlnsiow ct al, involving violation of
the ANTITRUST law by use of patented
machinery In the manufacture of shoes
the Supreme Court decided against the
government yesterday.
Bolssevain sold Can. " C. Brown.
the specialist, has a very small book
with practically nothing to sell up to "A.
Failure Of the Supreme Court to hand
down a decision in the Minnesota
rate case yesterday removes that
case as direct market influence for
three weeks. as the court will not meet
nntl February "a. Europe believes that
the Balkan war will collapse any min
ute ana the prospects OF activity and
strength In the stock market are, there
fore. unusually good. II may be worth
while to watch the Reid stocks carefully,
particularly Canadian. Rock Island. Le-
high Valley. and Republic Iron and Steel.
southern Pacific and Steel are oversold.
That the strike OF employees at the
Braddock and Rankin plants OF the
American Steel and Wire Company has
iallen nat was the belief here yesterday
when more than half of the strikers are
declared to have returned to work. At
Rankin between go and 200 strikers re-
turned to work. II was declared while a
similar proportion entered the Rraddock
plant. Strike leaders. however. declared
that they would not give up the fight, and
a mass meeting would he held to-day.
when the plans for carrying on the cam
paign will be formulated
The men employed at the collieries of
the Delaware. Lackawanna and Western
Railroad ha% returned to work.
II is stated at the Department OF
Justice that nothing would be given out
relative to the Union Pacific dissolution
plan. Mr.. Wickersham Is not In town.
Shotwell-Activity OF Rock Island is sig
nificant. In view OF the action OF Ameri-
can Can last week. The Company has
enough business TO keep its rolling stock
busy up TO the time OF the new harvest
and is expending s5.0oo.0oo for additional
equipment. The common stock has never
been popular because it can vote only for
a minority OF the board OF directors. II
full voting power should ever be given to
the stock Il would become a popular trad
ing issue, in view OF its present good
Moler-The rrinciasl news overnight is
the absence OF any agreement as yet on
the Union Pacific plan for dissolving the
Southern Pacific merger. disappointment
On that score may cause some reselling
Of both Southern and Union Pacific this
morning, while the threatened big strike
among the workers of the Steel Corpora
ton in the Pittsburg district growing ont
II the labor trouble At Rankin and Rrad-
dock is likely to cause further depres-
sion in Steel.
On the other hand. however. the set
tlement OF the new subway contracts in
4 satisfactory manner 10 both the Inter |
borough and the brooklyn Rapid Transit
is likely TO further strengthen |
The position OF all the traction stocks.
S B. Chaplin & Co-The failure of the |
Supreme Court to render its long |
expected decision in the Minnesota Rail- |
road freight rate case yesterday was an |
,ther great disappointment TO the mar
xet. This has been looked for every |
morning for the last six weeks, /
md as almost every one believes it must |
,ustain the previous decision Of the lower |
,ourt, the delay in handing II down must |
)e continued now for at least another |
hree weeks
The uncertainty of this. together with
he delay Of those interested in working
'ut a plan for the dissolution of the
Union Pacific merger and the belief that
he Balkan war with Turkey would be /
enewed last night, In connection with
he bad weather now prevailing here. all |
,ombine to dtssipate the good feeling
'ver the markets technical speculative
)osition. which had just begun to de-
'elop toward the close of last week
1t now looks as though an early an
'ouncemen. Of a satisfactory settlement
# the Union Pacific plan for the dissolu-
ion OF the Southern Pacific merger Is
he nearest possible event of the most
Importance on which the market is now
depending for its chief support outside of