The Washington herald., 1913-02-26
WALL STREET GOSSIP

1t is reported American Locomotive
preferred is earning about per cent
more than is necessary to pay its divi-
dend, Atchison S. Brooklyn Rapid Tran
sit more than 3. Norfolk S, Reading 10.
and Union Pacific and Steel per cent
each.
Private advices from Western interests
express the belief that the New York
market has withstood better than ex-
pected the many adverse developments
recently seen.
There are strong probabilities that the
political conditions abroad will show
rapid improvement in a short time. 1t
is estimated that the boarding of money
In Europe contracts credit TO the ex-
tent Of $2,o0o. 100000
Great Northern and Consolidated Gas
are being strongly recommended by well
Informed quarters as desirable purchases
on reactions.
Evans-We are in a bear market, which
shows no sign Of being near a culmina-
| ton yet.
San Francisco-The other requests Of
the commission contained In the joint
application Of the Southern Pacific and
Central Pacific respecting certain leases
and transfers in the final dissolution
| contract have been approved.
The International Nickel Company has
declared a dividend of 3 per cent on its
common stock for the quarter. Three
months ago the company paid 1-2 per
cent on the issue. The directors also de-
clared the regular quarterly dividend of
Ia per cent on the preferred stock.
1t was announced at the offices Of ]. p
Morgan & Co. yesterday afternoon that
Ladenburg. Thalmann & Co had pur-
chased the issue of 81 $50. 900 New York,
Ontario and Western Railroad Company
general mortgage A.. due 1855.
Childs-Sentiment grows more bcarish
as the market declines and shows so
little rallying power There has been
some good buying this morning, but II
still appears when the market gets pref
ty weak. 1t looks as II big interests
want to keep the market from breaking.
and at the same time take as little stock
as possible. I think we will see still
lower prices.
The Western Pacific Railroad opposes
the Hartman dissolution plan in the
Federal court at st. Louis. Hearings In
the governments suit against the Steel
Corporation were scheduled for resump-
ton yesterday in New York. Bills simi-
lar to the Wilson antitrust measures
have been prepared and will be intro
duced at Albany this week. The Chicago
Board of Trade closed yesterday because
of primaries.
At San Francisco the application OF the
Union Pacific Railroad Company TO lease
the Southern Pacific line from Oakland
to Benecia for ass years has been refused
by the State railroad commission.
The refusal Of the California railroad
commission to permit the Southern Pa
cific to lease the line from Oakland TO
Benecia for s99 years to the Union Pacific
Is not regarded of any vital importance
by officials of the Union Pacific. Even II
the lease had been granted other roads
could have secured equal privileges over
the line by appeal to the commission
This matter of traffic arrangement in
California In no way involves the main
features of the dissolution plan, and will
be settled in whatever way the commits
sion requires.
Reports to the effect that the West
inghouse Electric and Manufacturing
Company has laid of 1.30O men in its
IttsDurS pldHtS anu naIr OF It's work
ing force at its New Jersey works, are
without foundation. The company is at
present employing more than 1000 men,
more than at any other time in its his
tory. The plants of the Westinghouse
Company are operating at full capacity,
and there has not been any reduction
whatever in its working force.
The copper metal market displayed
alrv
producers and selling agencies still asked
Is cents for Electrolytic offerings were
made by first hands at IA 3-4 cents for
March. April and May deliveries, and
sales were made on that basis. In Eu-
rope Electrolytic can be secured on the
basis OF IA "a cents.
The Central Leather Company declared
regular quarterly dividend of S-4 per
cent on its preferred stock.
London copper weak. off 10 shillings
Burras-PeopIe who sold Southern Pa
cific and bought the rights against their
sales are getting a little nervous over
the possibility of dissolution going
through.
Delaware, Lackawanna and Western
reports for year ended, December 81, to-
tai revenue increase. s977. .94s. Operating
expenses increase, $1.s27, al. Net earnings
decrease, sS49,sG3. Surplus increase.
$40, ,022.
.Atchison earnings for January, gross
revenue increase, 81. S6s62s. Operating ex-
penses, increase. s915.Sl6. Net operating
revenue, increase, s44s,s12.
Judge Gorter. in Circuit Court at Balu-
more, yesterday afternoon handed down
Railroad Company in the SIS, 1000 4 L.
per cent twenty-year convertible bond is
sue case. The court ruled that the COM
pany must first secure the approval of
the public service compnission before is
suing the bonds.
Private advices from Baltimore state
that the governments attorneys have
already examined several independent can
manufacturers to determine whether
there is collusion between the independ-
ents and American regarding prices. 1t is
further said that nothing has been proven
detrimental to American Can Company
The latter concern makes its prices once
a year for that year. and does not change
them. Nothing is said in the private in
formation from Baltimore concerning in
vestigation Of the organization of the
Can Company.
S. B. Chaplin & Co.-The decision of the
California State Railroad Commission.
which will appear in full In the afternoon
papers, practically halts the progress of
recent events in carrying out the plans
for the dissolution Of the Union Pacific
Southern Pacific merger as had been