The Washington herald., 1913-04-02
WALL STREET GOSSIP

{ Earnings Of the New York Central, all
lines. for February show a net increas Sc
Of $s64.155: two months net increase.
81. 714.OO0.
Atchison declared regular quarterly IL
per cent dividend on common stock. pay
able June 2.
Can preferred is just as good as any
thing on the list.
A specialist source Is reported to con-
slider the technical position very strong,
with the sorts locked in and unfavor-
able news not giving the expected OPP
portunity to cover.
Large professional traders say the per-
sistent support in Reading may be based
on something more than earnings and
the coming Eek dividend quotation.
Speculative quarters are reported to be
friendly to the Copper stocks. as they
are understood to believe accumulation
is proceeding along with the advancing
tendency of the metal.
Large stockholders of American To.
bacco expect another melon-cutting in
the not distant future.
An active market interest is quoted
, to the effect that the next favorable de-
veiopment to disturb the shorts will
probably be a satisfactory adjustment Of
the Union-Southern Pacific matter.
Banking circles are understood to feel
that with the local surplus reserves re-
stored to normal proportions the interior
demands can be met without great diff
Guilty.
Investment institutions arc reported to
believe that only a panic or clear indi-
cations Of reduced dividends could force
the standard stocks below recent low
levels.
i Remarkable progress 10 being made in
getting the plants of the United States
Steel Corporation, which were stopped
by the floods of Pittsburg, Sharon,
Youngstown. Farrell and other points.
back in operation, and the actual loss
in tonnage will for this reason he a good
deal smaller than was feared at first
The Northern Pacific Railroad declared
regular quarterly dividend Of l 3-4 per
cent.
The Atchison has declared regular divi-
dend of 11-2 per cent on the common
stock, quarterly.
Exports Of copper to Europe. exclusive
of Southern and Pacific ports. in March
surpassed all previous records the total
shipments aggregating s3, 4l2. iSO pounds
There was a good borrowing demand
for stocks in the loan crowd yesterday
morning, without any important change
in rates Steel common loaned at 61-4
per cent, with the borrowing rates on
the general list ranging about per cent.
Justice Davis. of the Supreme Court,
yesterday morning denied the applica-
ton of James Pollitz to enjoin the EQui-
table Trust Company from forcing an
issue Of $4,000, 900 Of bonds of the Wa
bash Railroad Company. POLITE brought
the suit as stakeholder of the railroad
company.
Kuestrin. Germany-Gustav Puppe, a
local banker. suspended payment, with
liabilities estimated at from 100000 to
s7.JOG.oOo Puppe and his son have dis
appeared.
Chiids-The steadiness of the market
appeared to make favorable impress
sion on the public. and inquiries are re-
ported from people who have been out
of the market for some time. I see no
reason to sell stocks, and, as the market
seems ready to discount better condi-
tions. I think Reading and Copper will
sell higher soon.
Pennsylvania Railroad total earnings
of all lines East and West for February;
operating revenue, increase, 81, 4S,S4.
Net operating revenues, decrease, 1854, l6o.
London copper closed firm up Is Sd.
etx,v,
that the European stocks of copper on
March 81. including Hamburg and Rot
terdani. increased $50 tons. while cop
per supplies afioat decreased LOIS tons
making a total increase in the visible
supply of LAS tons to io077 tons as COM
pared with 43,64e on March 10 and 61,242
on March 81, 1912.
W. B. Hibbs & Co-The tariff makers
are trying to avoid the trap into which
President Taft was forced when he up
held the Payne-Aldrich bill his party
enacted and he was compelled TO Shout
der the blame of Intellectual reduction
They are putting it up to President
Wilson. recognized as the chieftain of
progressives, to 20. K" their tariff In
advance. and thus give 1t the stamp
of real democracy Now Is the time to
forbid the banns or forever after hold
peace they say. and they are surely
placing a big responsibility on the Presi-
dent.
In the meantime. some of the old con-
servative Senators are biding their
time until the bill comes their way
when they will make some alterations
in il.
F.. & C. Randolph-The opening was
firm and quiet. and the street rather
anticipated q featureless day. Before
long, however. the tone began to harden,
and around II o'clock, when it was an
nounced that Turkey had notified the
powers it was willing to accede in every
particular to the peace terms proposed
by them, the market suddenly developed
a marked increase in strength. This
strength has been maintained through
ou, the days trading, with leading issues
a couple of points. The ad-
vance was very well distributed through
out the list, and the tone was thorough
ly strong in all quarters. The largest
part Of the buying came from the short
interest, but there was more aggressive
buying by the bulls than heretofore.
Reid and Moore being generally credited
with the leadership of this faction. The
market grew dull in the afternoon, but
the strength was we'll maintained, only |
small fractional reactions taking place. |
Call money ruled at 6 per cent, but an
easier tone prevailed in the afternoon.
somewhat easier tone. and exchange adj |
vanced in response to the fall in money |
rates.