The Washington herald., 1913-12-20
WALL STREET GOSSIP

The Virginia Carolina Chemical Com
pGny declared regular quarterly dividend
Of per cent on its preferred stock.
Drexel & Co. announce that the new
issue OF $1O,OOO.OOO general consol mort
gage 41-2 per cent gold bonds of the
Lehigh Valley Railroad have all been
sold.
Reading is reported to he concentrated.
Very few commission houses hold the
stock.
Foreign buying of the Erie issues has
been extensive on the setback. The bes;
sources in the Street continue to bull
them.
Many traders previously bearish. ex-
press the view that the market is in a
liQuidated. if not an oversold. condition.
In some banking quarters there is eN-
pectation of easier money and improved
market for bonds.
Tuesday, December 90, will be the first
notice day on the New York Cotton EX-
change for January deliveries.
The annual meeting Of the stockholders
OF the Hartman National Bank will b.
held January Is.
At 4 meeting of the Reading Company
and the Philadelphia and Reading Rail-
way, Charles c. Harrison was elected TO
membership in the board of those COM
panies. succeeding Col. Henry a. du
Font, resigned.
The Chase National Bank. of New
York. proposes to adopt a pension fund
for its employees. to go into effect Janu-
ary /, and to replace thereafter the Eegu-
lar Christmas bonus. While the details
of the plan have not been decided, II is
reported that the scheme will be like
that of the First National Bank and the
Bankers Trust Company.
A Stock Exchange seat sold at S4l OG0
Yesterday, an advance of s1.CoO over the
last recorded price, and 5000 over the
low record of the year Three seats
were transferred yesterday: number OF
others will be transferred before the
opening of the new year.
Harris, Forbes & Co, of New York.
together with their associates, the Harris
Trust and Savings Bank, Of Chicago, and
n. w. Harris & Co., Incorporated, of
Boston, have purchased s1.OOO.O00 Harris
County CTexas) bonds which they will
shortly offer to investors.
Francis F. Flagg. first vice president of
the American Express Company, in COM
menting on the decline in the market
price of the company's stock, said: The
actual assets of the American Express
Company exceed the par value Of its
stock, and there is no reason why any
oh ShnrIId sacrifice his bar
stock in the present furry"
Exports of copper for the week ending
December IS, totaIed 12,o5S tons; since De-
cember /, 21,s6s; same period last year,
II ,669 tons.
The known movements of money for
the week ended with the close OF busi-
ness yesterday indicate a gain in cash
by the local banks of approximately
s., 10000 They gained net from the in
terror ss,52 ,262 and lost to the subtreas-
ury only s166,0oo.
Hartman & Co.-Sentiment is more
cheerful and market acts well. There
does not appear to have been much
short covering today. and advance was
largely due to buying OF foreign and
Western houses. 1t is hard to get mar
ket out OF this rut with so little outside
business, but outlook is improving and
there Is basis here for much higher mar
ket
New York Financial Bureau tn w
B. 1ibbs & Colt is asserted in very
conservative quarters that the leaders
would rise five points on any favor
able Developments
"You should get into this market
before II gets away from you." is the