The Washington herald., 1913-06-21
STOCK MARKET
WATTS ON news
Traders Disposed to Keep Out
Until Union Pacific Mat
ter Is Settled.
FAVOR THE MONEY LAW
Local Securities Show Good Tone,
Railway and Gas Leading-Gos-
sip and News.
FAVOR THE MONEY LAW
BY i. A. FLEMING.

Wall Street was rather dreary place
Yesterday from the standpoint OF activ-
ity, and also strength. There were few
stocks on the list that held their own.
nearly everything sagging from half TO
a point.
Traders and investment interests, as
well as financial watched washington
as the chief center. They watched the
progress of the currency measure. and
admitted that II was a good Dill ana
would do much to quiet trouble, TO allay
uneasiness, and to prevent the sacrince
of assets in times of trouble. The bank
ing fraternity did not go on record very
generally not having seen the full text
of the bill.
Ewes were on Washington in the nope
of an announcement from the Interstate
Commerce Commission on the apphca-
lion of the railroad presidents for per-
mission to advance rates per cent.
Ewes were on Washington seeking an
announcement from the Attorney Gen.
eral on the Union PacIrc problem, out
eyes neither saw nor did ears hear any
news of any character except on the
currency bill
London Weaker.
London was distinctly weak. consols
being at their lowest record for years,
while the positive weakness in copper
metal was by no means consolation 10
the holders of copper stocks.
Throughout the session there was an
air of indifference The enormous short
interest worked for lower prices. but they
were not very successful. The pressure
on Steel showed a let-up. Declines Ia
on Union Pacific and 15a4 elsewhere.
Berlin is suffering from liquidation IN
preparation for July disbursements
Local stocks Higher.
There was a decided improvement on
the local security market. especially Tor
Washington Railway and Electric shares
Gas and Mergenthaler.
Capital Traction was under pressure
and freely offered at Iii l-2. Railway COM
mon advanced from SS to S9a90 of yester-
day while the preferred was little
tirmer with IS IA the bid price
Washington Gas started at 81 5-S and IL
stopped at u. the excellent buying that
has been goilg on for weeks being main
tanned apace.
Mergenthaler was strong at 2l2a2l2 L..
Railway Is were stronger selling al
s. SIS: Riggs 5s. 1Ol: Columbia IS, 100. and
Is. 1001
Washington Utilities.
Washington Utilities does not owe
dollar 10 any one-no. not even to its
broker
This statement. made by W. B. Hibbs,
would seem to show the financial position
of the Utilities Corporation sound. and
quiet some rumors that have been in cir
culation of a desire to issue bonds Ito
pay of loans.
Personal.
George o. Watson, cashier of the Ma
tional Metropolitan Bank and one of the
most popular bank officials, left last night
for Syracuse. y. Y. Mr.. Watson Will
open the purse of gold given him by the
directors of the bank at a recent dinner, |
as enjoined after the ceremony on Mon
day evening. Mr.. and Mrs. Watson will
be back in Washington next month
Daniel Fraser, vice president of the
Bank of Washington. and popular MEM
Der of the stock exchange, will spend a
couple of months at Poland Springs.
a jolly bunch of bankers will arrive via |
the Norfolk steamer this morning, Nir |
ginians all. Even the local contingent that |
went down Thursday to attend the con- |
vention Yesterday have harmonized as be- |
comes Virginians.
The short business day will be none too |
short for the bankers TO enjoy themselves |
today as they will wish to. The luncheon |
at the Willard and the ball game at the |
concrete coliseum" with interchange of |
visits, will make the day very large.