The Washington herald., 1913-01-26
WALL STREET GOSSIP

H k40A ~ MILL SSSS4A
| Reports of quiet but impressive buying
on declines are found in responsible quar-
ters of the street.
| Professionals are extensively short and
seize evefy possible opportunity to get
/ down prices to cover. Important cover
ing has occurred in the last day or two
on drops
Some Of the gossips about the street
are mean enough to say that Corey is
short Of certain Steel stocks.
Lawson is reported In private advices
to be giving tips TO Untermyer how to
ask financial questions before the Pujo
committee.
The Reid-Moore crowd is reported
committed to its following to work for
bull move for several weeks.
A drf~e at the short interest in Read
ing Is planned for next week. 1t also is
| said the shorts in Great Northern pre-
ferred and Northern Pacific and ST. Paul
will be badly hurt X the Minnesota rate
case is decided in favor Of the railroads
Good buying is found by floor brokers
in Canadian Pacific.
Z. & c. Randolph-The market opened
quiet and strong, fractional advances be-
ing recorded, and the tone remained
quietly strong all the morning The rise
as whole was fractional. Union Pacific
being about the only leader to show a
gain OF point. but feeling seemed con-
fident and traders were inclined to the
bull side. The fractions, especially In
terboro. showed marked strength on the
hope that the agreement between the city
and companies would be signed.
Woolworth was weak selling %. against
1o1 last night. but later recovered. There
was no important outside buying. and the
market continued firm up to the close.
Evans-We continue in a liquidating
market The rallies come only when the
market becomes technically oversold.
Good news fails to put II up, while bad
news depresses II. Its main support at
present Is apparently a large short in
terest. Barring rallies the arrival Of
which II is impossible to predict. I ex-
pect considerably lower prices within the
peXf month.
Moler-An the foreIn markets closed
steady. The rumor that the Sultan of
Turkey has been deposed and republic !
proclaimed has no confirmation. There
was a belief in all the foreign markets
that a period of uncertainty will prevail
and in view of this and the possibility |
of complications DEVELOPING duh and 4!
dragging markets is the expectation.
Locally sentiment has been so ad- |
versely affected by recent events in poll !
tics and also by the disclosures in the |
governments suit against the Steel |!
Trust. that We will require a favorable |
decision in the Minnesota railroad rate
case from the Supreme Court Monday or |
some other. exhilarating development to |
cause more than slight and temporary /
rallies from the present trading condi-
tons
The decline in woolworth to-day
brought out an interesting rumor This
was to the effect that some persons who
have not approved Of Mr.. Cntermyer's
manner OF conducting the Money Trust
investigations will endeavor to show. by
sort OF rival investigation. that Mr..
Cntermyer had a good deal to do with
the WoolwOrth promotion. in which there
was as liberal a capitalization Of good
will as any OF the companies whose
affairs he tried to drag into the light
of day in recent weeks
Mexican Petroleum has declared the
regular quarterly dividend of 81 a share
on the common stock.
Atchison earnings for December. show
gross increase. s.2s1.s5 Operating ex-
penses decrease. ST7i0l5. Net operating
revenue increase. 4E.2JO. Operating in
come increase, S5l,5g5.
Directors OF the BROOKLYN Rapid
Transit Company are scheduled TO meet
on Monday nj which time IL Is eSperted
that action will he taken on the diyi-
dend- Opinions in Wall Street with re-
gard to the rate that will he declared
are somewhat mixed. In some circles
1t is believed that the rate will he in
creased TO per cent per annum. al
though the more conservative element
maintain that no change will be made at
least until the April meeting. No doubt /
great deal depends upon the signing
of the new subway contracts which are
now being discussed by the public SER
wee commission and represe natives Of
the lnterboro ana Brooklyn RAND
Transit Company.
The Pennsylvania Railroad announces |,
that it has asked for bids on u, 800 freight
cars for all its lines between New York
and Chicago and st. Louis The esti-
mated cost thereof is s160oo,OOo Nothing
is said as to the manner of payment
therefor, but this will doubtless be
tHTougn a new series OF equipment trust
certificates. following the company's long
established custom
The Boston and Maine Railroad has
sold s10,ooo.oco one year per cent notes
to syndicate headed by ]. P Morgan
& Co.
London was irregular Saturday morn
ing. but not materially changed in either
direction because there is a belief among
diplomats that the new Turkish govern
ment will be unable to continue the war
even should it desire to do so. Corey's
testimony before the referee in the Steel
Corporation dissolution suit relates chief
iy to abuses that were ended in 1906.
Official denial is made that there is any L
intention of dissolving the corporation
voluntarily.
There is some increase in the number
of idle cars, but this is due chiefly to
the physical inability of getting cars to
the localities where they are needed.
owing to the seasonable change in the
character of freight hauled. The rail-
roads are increasing their orders for
equipment, hoping to avoid a shortage