The Washington herald., 1913-10-11
FINANCE, COMMERCE

concessions. it was reported this morn
ing that copper for October delivery was
offered at Is 3-S cents cash, New York,
which is equivalent to about 1856 cents,
delivered in thirty days. So far as can
be learned, however, no transactions
have been recorded.
The reported movements of currency
this week indicate a loss in cash about
$4,000 ,OOO
Steel tonnage decrease 219,6s3.
London copper dull: of lis Sd.
Childs.-Market is again unsettled, but
II acts better and do not look for any
serious slump like Thursday. They seem
to be trying to make them look as bad
as possible, while covering is going on
in various stocks. Copper is again IN
der pressure and the same interest ap-
pears TO be selling it and buying Steel.
II is hard TO see anything good in
market like this, but / think there will
soon be a change for the better.
Charles Head sold 5000 A. c. p.
Boston is selling A. T. & T. stock. Talk
Of government control and excessive cap
italization is the cause OF the decline.
The appointment of Louis Brandeis. as
counsel for the Interstate Commerce
Commission in the rate hearing was not
relished, and the extraordinary state
ments made by representatives OF the
trainmen to the effect that the men "are
never satisfied" but are already discuss
ing new demands, was not calculated to
promote an optimistic feeling.
1t seems to be very generally under
stood in Congressional circles at Wash
ington that President Wilson has recog-
nized the impossibility OF obtaining cur
rency legislation at this session. The
Senate Committe on Banking and Cur
rency has declined to commit itself to a
hasty consideration OF the bill, and the
President apparently considers that II
would be injudicious TO antagonize the
members of the Senate by continuing to
insist on the passage OF the currency bill
now.
The foreign exchange market opened
firm, with demand sterling up 10 points.
Pacific Coast Company has declared the
regular quarterly dividends of l IA per
cent on the first preferred and l-2 on the
second preferred and common stocks.
payable November l to stock Of record
October 20.
The Federal Sugar Refining Company
has declared the regular quarterly divi-
dends of l-2 per cent on the preferred
and IA per cent on the common stock.
payable October 81 to stock of record
October -.
Distilling Company of America declared
regular qUaSterIy dividend of l-2 OF per
cent on the preferred stock, payable
October 81 to stockholders Of record Octo-
Der II.
the regular quarterly dividend Of l-2 per
cent on the common stock. payable De-
cember to stock of record November S.
Lee Higginson & Co. Harris Forbes &
Co, kissel, EinniCut & Co, William A.
Read & Co, and White, Weld & Co are
offering Tor pIbliC subscription, al IS L.
and interest, the unsold portion OF $30,-
OOJ. 600 first and refunding mortgage per
cent bonds Of the Interborough Rapid
Transit Company, dated January l, 1918,
and due in 1866.
Distillers' Securities year ended June
80 showed surplus after charges de-
crease Sl67,6l5. equal to l.l6 per cent
on capital stock. against l.s2 per cent
last year.
E. & c. Randolph-The market has
been dull and irregular, with strength
some places, while other stocks showed
a tendency 10 sag OF. Before long.
however, pressure was again eXerted
against the entire list, Amalgamated
showing especial weakness, the stock
declining sharply, many issues making
new low records on this move. There
was no liquidation of Importance, how
ever, on the decline, and later the mar
Het rallied in a leisurely way. making
up about its previous decline. Trading
has been very quiet all day and mostly
professional
S b. Chaplin & Co. to w. B. Hibbs &
Co.-The feature OF Fridays market was
the weakness in copper metal markets
lt London, and the selling of such stocks
there for Paris accounts. This caused
enough selling of a. c. p. here to send
It of nearly 2l-2 points further. Other
copper stocks were weak and lower in
sympathy. This, together, with scat
tered liquidation and bear pressure
forced Steel. Union Pacific and Reading
1ff l to l-2 points from Thursdays clos
ng and gave the general market a very
weak appearance during midday. There
was, however, much less pressure of real
liquidation for outsiders and many stocks
rallied during the afternoon, when some
1f the shorts tried to cover. 1t now looks
very much as though the worst selling
pressure for both long and short accounts
has run its course and that a good rally |
ng movement could easily be brought |
lbout upon the development of anything |
% encourage a large volume of specula- |
i've or investment business, such as, |
'Or instance the eIimin a tiob NJ Soma of |