The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-05-28
WALL STREET GOSSIP.

Although there is no financial re-
htluns at all between the Rock Island
and the Frisco. the troubles of the
latter have been connected In the
Wall Street mind with the former. and
the securities of both companies have
declined in sympathy. Even with
those who are aware Of the fact that
all connection between the two svs-
TENS was severed in 1909, when the
Rock Island sold the Frisco common
stock II owned to r. r. Yoakum and
MS associates, the announcement of
the. recelYership for the st. Louis and
San Francisco seemed to be consid-
cred an adverse argument on the Rock
Island issues. There was no tangible
explanation Of this state of mind The
previous association of the two roads
may have had something to do with
IT, 1t was recalled that the develop
nent Of weakness in the Rock Island
securities about ten days ago and d.
rected attention. to the fortunes of
that road really preceded the fai, in
The Frisco issues. 1t lis rumored that
some Of the selling Of the securities of
both roads is for foreign account The
Frisco bonds are among the compare
lively few American securities listed
on the Paris bourse.
siderable amount of speculative buying
Of the Frisco securities in the past
few days simply on the possibility of
an eieVenth-hour adjustment OF the
difficulties caused by the maturing of
the S2,250, GOO notes on the frs, of
next month. But In a somewhat ana
Joyous case some years ago at least
one daring speculator made a small
fortune. In 1908 the Erie railroad
found itself threatened by a receiver
ship because OF the maturing of S.
900, eco one-year notes, TO meet which
no funds were provided The sensa-
tionai rescue OF the Erie from It's pre-
dicament by the late T.. H. Hartman
YVES one OF the most dramatic events
in the history of Wall Street About
week prior TO the maturity Of the
Erie notes the best hid was around
% A few days later the price plunged
down to 81, exciting wide attention.
There is now a difference of opinion
In regard 10 the investment market
which Will he significant A few weeks
ago the situation was described pretty
nearly everywhere as bad, and it was
extremely difficult to find anyone to
speak other than pesslmistcally of the
outlook With the past week or so.
however, there are not few peo-
pie who are willing to admit that
signs are increasing Of an awakening
investment demand for the best bonds.
Naturally these signs are far from be-
Ing pronounced and 1t may come out
this is not the case.
From people with out-of-town con-
nections rather than from local houses
this opinion has been vouchsafed
Boston investment firms are advis-
ing their friends in New York that
the outlook does not look hopeless
from their point OF view. They notice
q perceptible Improvement in the
public appetite, and have been to sell
securities in increasing quantities.
From Chicago also comes word of I'M
usual large investment orders in the
last few days. An opinion is not ven
tnred AS 10 whether or not this de-
EInand would be quickly smothered by
s<urge mew securfty -Usfa rings, but RI r.
sth0ught that II the inr 4oyement con-
fbnues much longer II pay SIGNIFY
LoAnnite change In tcnAYn