The Washington herald., 1913-12-24
WALL STREET GOSSIP

The Anaconda Copper Mining Company
has declared the regular quarterly divi-
dend Of IS cents a share.
Central Leather yesterday declared
initial dividend of So on common stock.
The American metal market quotes a
reduction in structural TO $40 per 100
pounds amounting to 81 ton.
1t is stated that the directors of the
Central Leather Company have appoint
ed a subcommittee to make arrange
ments for the establishment of a sinking
fund to provide for the redemption OF the
issue OF Central Leather first lien per
| cent bonds due April. 1895.
Wells Fargo & Co. declared regular
semi-annual dividend of 5 per cent On its
stock. statement Issued by the di-
rectors. accompanying the announcement
Of the dividend, intimate that a reduc-
ton in the present dividend rate Is not
improbable in the near future.
The Delaware and Hudson Company
has ordered 1900 tons of steel rails from
the Bethlehem Steel Company for 1914
delivery. The company has retained
however, the privilege OF an option, exer-
disable on or before May 1. for the
cancellation Of 5000 tons of the order.
The annual meeting of the Brooklyn
Rapid Transit Company will be held jan
uary 90.
The United States Mortgage and Trust
Company will give bonus of 10 per cent
OF salaries to employees.
New York bankers say that in many
respects the outlook seems TO have i'm
proved. The most important factor. to
their minds, Is the evidence Of the large
amount of money seeking investment in
bonds. They see evidence Of the change
every day.
The announcement that New York State
will offer S51, 900, 900 50-year 1-2 per cent
bonds the latter part of January is the
important event in the investment mar
ket of late.
On news of a probable assessment of
30 to IS per cent on Wabash-Pittsburgh
Terminal first mortgage bonds, the GER
tificates sold at 10. At this, price owner |
ship of the property was. represented by
securities selling at a market price OF
s3,O23 800. There are $3O,236OO0 first mort ]
gage bonds outstanding against the prop |
erty. -
With respect to the recent financing
done by the Canadian Pacific Railway |
Company, emitting common stockholders |
to subscribe to an issue Of S52.UO,OOO |
OF per cent. notes certificates to the |
extent of 20 per cent of their holdings, or |
in a. proportion of one to five, the com |
mittee on securities of the Stock EX- |
al nat al frqp
in the stock on December q, except those |
made for cash, shall be ex-rights and /
that rights may be dealt in after that 1
date, transactions In. rights must be |
settled to-day, after which date transac- |
tions shall be as in securities. S'lbscrip- |
tions rights expire February net. /
George G Van Tuyl, jr.. superintendent I
Of the State banking department. said |
Yesterday that he could see nothing in
the new currency bill that would in any
way be a disadvantage tosany institution |
under a national charter
'I am confident" added Supt. Van Tuyl, |
that should the operation of any provi-
sions of the bill prove detrimental to the
banking business the administration at
Washington will be anxious to assist in |
every way and make the necessary rec
to correct defects
For the last few Years bankers have i
been aware that change in our cur
rency system was necessary TO meet
modern conditions. Cur great parties
adopted platform planks that "a new cur
rency system was essential. There was
a diversity of opinion among bankers
as to the system to. o.tbeyestablished. Men
Of affairs discussed the subject. butt yet
could not seem to agree. The currency
bill, so called. just passed by the Sem
Ute Is a modern and progressive- measure
deserving q good< substantial trial, and
with everybody working in the right di-
rection it will be a great success and a
benefit to. all business interests.'
Lewis. johnson. & Go.-The market
continues on its good behavior, the bene-
fetal effects of recent Developments still
being in evidence. but naturally after so
brisk an Improvement continuing for
two or three days there is more evidence