The Washington herald., 1913-05-28
WALL Street GOSSIP

June is now the expected date of the
decision in the famous rate cases in the
Supreme Court, However. the court gives
itself further latitude by fixing June Il
as another tentative date and then Ieav-
ing the way open for still further de-
cision days II necessary.
There are lis cases still to be decided
and while this prolonged session of the
court undoubtedly takes them into con-
sideration il is thought that the main
reason for delaying final adjournment for
the term is the difficulty over the rate
cases, forty odd in number.
The absence of Justice Hughes from
the bench yesterday revived a rumor
heretofore current that he will hand down
the decision in the Minnesota rate case
1t was the Sherlock Holmes conclusion
OF the lawyers yesterday that he was at
his desk boning on the rate case.
Chino Copper. IS, quarterly dividend:
Ray Consolidated. 80 1-2, quarterly divi-
dend; regular dividend on Utah and Ne
vada.
Attorney General McReynolds said in
formally yesterday that the Department
OF Justice would file a number of suits in
the anthracite coal matter.
Private London cable says: Market
heavy. Canadian Pacific continues weak
on further selling from Berlin. Harri-
man issues lower
London selling Union Pacific
London-Sir Edward Grey. British for
eign minister, announced in the House
of Commons that England will officially
recognize the Chinese Republic if th..
new government will promise to respect
all treaties in force when 1t came into
power.
Time money over the year lending at
per cent and scarce. Six per cent is
bid for a million dollars on high grade
copper shares not more than 20 per cent
of the loan on any one 'company's stock
s. F. Yoakum, chairman Of the Frisco
Company, visited ST Louis a few days
ago in connection with the negotiations
which have been under way for son,
weeks with respect to refinancing or pay
ing of the S,2J0.O coo notes maturing June l.
II was learned yesterday morning that
all efforts to secure the necessary money
had been exhausted and il is understood
that a movement is already well under
way lOi Inc appointment OIL receiver VINO
will directly represent the st. Louis in
terests in the property. II Is intimated
that Thomas II. West. president of tho
st. Louis Union Trust Company, is the
man who will he selected. He has been
largely interested in the properties which
are now subsidiaries Of the Frisco.
Late last week it was understood that
New York bankers who have always stood
by the Frisco. made a Proposition for
taking care of the notes maturing June l.
1t involved. II is understood, the raising
of part of the necessary money by the
st. Louis interests. From what is learn
ed now. it is evident that after Mr.
Yoakum had fully discussed the matter
with them it was decided not to advance
the money.
E. Randolph-A receiver has been ap-
pointed for the Frisco, and the Ques-
ton arises in every thinking mind-how
many more receiverships may there be
between now and January l under ex-
listing money market conditions and con-
ditions of corporate credit throughout
the United States owing to adverse legis-
lation and the antagonistic and dcta-
torial attitude of labor unions?
The Central Leather Company declared
the regular quarterly dividend of 81
per cent on the preferred.
American Can has earned 10 per cent
more than for the same period last year.
Outlook for the summer is far better |
One contract calls for 50OOOO,Oeo salmon |
cans. Nothing said on dividends.