The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-07-10
WALL STREET GOSSIP

Consider government very bullish on
wheat. Corn il bearish. and oats about
a stand-off.
The full Committee on Banking and
Currency will have open meetings In the
day, and the Democrats of the committee
will meet secretly at night.
United States Cast Iron Pipe and Foun-
dry Company reports for year ended
May 81 last: Gross, decrease. 00s.3Ss: net
earnings, increase. $3.50: surplus, de-
crease, $i63.550.
In two days wheat has lost cents. A
big export trade II expected. Should get
a rally from here. Reports on corn and
oats are not as favorable as should be.
and they should be bought on breaks.
Reuter- has a cable that Bulgaria has
asked the powers to negotiate for peace.
This Is good news II true.
The Merchants National Bank yester-
day received $4,000 gold from Canada.
The Interstate Commerce Commission
has decided that the Communication fares
of the New York, New Haven and Hart
ford Railroad from points in Connecti-
cut to New York City are reasonable
except as to certain stations specifically
named.
London says Canadian Pacific will not
issue new stock as they have an old is
sue still unpaid for. This is evidently the
stock the rumors refer to.
Lackawanna Steel report for quarter
A~l oft nLa
depreciation. &C. H.ol2.s75; increase $751;
12s.
At a meeting Of the directors Of the
Vulcan DEFINING Company. held yester-
day. 1t was decided to defer action on
the dividend payable on the preferred
stock July 20.
Copper stocks decrease 1855, 6ls pounds
The quarterly report Of untitled orders
on the books of the United States Steel
Corporation will be made public today.
A prevalent estimate is a decrease of
45O. 900 tons.
The foreign selling. which helped to
depress the market yesterday morning.
had at least this local origin that part
of IL was due to foreign disgust over
the failure of the American Water
Works and Guaranty Company. Large
blocks of the preferred stock of the COM.
pany were placed in France and Hol-
land. The market for It has collapsed.
The last Gale on the stock exchange.
where the stock has never been active.
was at IS. on June 4. Last week a sale
was made outside the exchange at 95.
There was a sale Tuesday at IS. We'd
nesday morning 4 specialist in the stock
quotes IS bid and so asked.
E. & C. Misunderstanding of Canadian
by London was on so large a scale as TO
make the supply from this quarters the
most important market influence. 1t was
estimated that arbitrage brokers alone
sold 1000 shares of this stock in the
first hour, forcing 1t down from 2li at
the close Wednesday to under 30.
Canadian houses were also sellers and
many of the room traders sold the stock
on the decline The decline in this stock
was accompanied by rumors of COM
ing issue CT $50. 100000 new stock. Lon
don was also seller of Union. Steel.
and Copper. The various news devel-
opments had little influence on specula-
tive sentiment, but enough demand was
in evidence to offset the trifiing liqui-
dation that had been in progress since
the beginning of the week. Union showed
an absence of support, and losses of a
point were sustained in Reading, Smelt-
ers, Southern Pacific. and Interboro-Met-
ropolitan preferred. United States IS
sold at ssh. a new low record. and other
bonds were fractionally
lower. Railroads and other bonds were
heavy. There was a slightly rally from
the low prices. on which the market has
become very dull.