The Washington herald., 1913-12-28
[MARKETS, FINANCE, COMMERCE
WALL STREET GOSSIP

A3 regards individual opinions upon the
state of the country there is great diver
sity. Charles NJ. Schwab continues pessi-
mistic. Since last summer the foremost
steel master Of the United States has in
sisted that the changes made In the tariff
schedules would cause depression in the
industries.
has asserted, more recently, that the talk
of trade being greatly depressed is pre-
posterous. The president of the Wool
worth Company, to quote another in
formed authority, says business is good.
The head of Clafiin & Co, speaking of
the dry goods branch, says the same
thing. When such great doctors disagree
how is the question to be settled?
Canadian Pacific is sending to share
holders, under date OF December a,
formal announcement Of the creation of
the special investment fund of $4,000. 900.
of which S5a,O0O,000. equivalent to one
fifth OF the outstanding capital stock of
the company, will be offered to stock
holders i'm the proportion OF one to five.
As already announced, the first install
ment OF i per cent of the face value of
the notes is payable February ., and the
second instalment of * per cent March
2. The right to subscribe expires Feb
ruary ..
The New York Cotton Exchange seat
Of ID. II. Miller has been sold to w N
Schill. for another. at $1,000: and seat of
c. b. Thorn was purchased by w. l..
johnson, for another, at the same price.
This compares with last previous sale of
$4,000.
Total dividend and interest disburse-
To-
Dow, Jones & Co. at S266. .OO0.O00 as COM
pared with S2IS,O0O,O00 last year.
Up to the present time dividends de-
clared payable next month by New York
City banks and trust companies and
various corporations of the United States
aggregate $40, ,OO6. l02. based on a total
capitalization Of S4.S3O65l. .s5s.
Interest payable in January on the
bonds of railroad Industrial. and mis-
cellaneous companies, as well as those or
cities, States, and counties in the United
States, and on bonds OF every class out
standing upon which this interest is pay
able is S,777,Sl ,15O.
Officials OF the Portland. Eugene. and
Eastern Railway. a subsidiary OF the
Southern Pacific Company. have an
nounced that the electrincation OF the
line between Portland and McMinnvilIe
will be completed during the month OF
January. and that electric trains will
then be placed in operation. McMinn-
Vile is located thirty miles north OF the
City of Dallas, Greg, and ultimately the
Portland. Eugene, and Eastern will cleo
trify the entire line from Portland as far
south as Eugene. Greg. The southern
end OF the road will serve the willamette
Valley, touching at many points where
Byllesby PROPERTIES are located.
w b. Hibbs Il Coin conversation
last night with man prominent in the
metal trade, one not given to expressing
opinions, 1 was told that
in the past few days a distinctly better
undertone had developed in copper and
lead; and that pig iron prospects looked
brighter yesterday than at any time in
six months previous. There is no use
denying that general business has expe-
rtenced a decided recession in recent
months, but there seems little doubt that
business men Rwho give thought to any
thing save superficial indications are gen. |
orally moro hopeful as a result of the |
administrators evident desire to impress
the country with its disposition to act |
with careful regard for legitimate indus !
try. When realization, of that fact be-
comes general, il will be too late to buy
good securities at anything like current
prices. The wise ones are buying be-
fore all fears are dissipated..
London comes slightly lower. but that |
is not surprising in view OF the consid- |
cradle advance in our market since Lon |
don's last closing. Wednesday noon. our
time.
Lewis johnson & Co.-The market holds |
along in commendable style and shows |
improvement in many stocks. |
New Haven was especially strong, ac-
by a report that officials Of |
the road were very near agreement with |
the Attorney General as to a settlement |
of questions at issue. This would be |
another of those peaceful adjustments |
without litigation to which the President |
referred in his recent statement. When |
the Attorney General first went into Of
fee his attitude in regard to the dis
solution of the American Tobacco Com |
pany and the Standard Oil Company led
to the belief that he Would attempt
practically destructive policy OF disin- |
tregation in antitrust cases. This re-
cent development, therefore, Of peaceful
and prompt solution has had q very bene- |
fetal effect Most of foreign exchanges
were closed Friday, but yesterdays Lon |
don prices came slightly lower. We have
had a very material advance in the mar |
ket in the past week and II is not sur
prising to see profit-taking, especially |
from abroad. I look for a continuation
Of the better sentiment and tone In the |
market.