The Washington herald., 1913-05-04
WALL STREET GOSSIP


The discouraging part Of the situation
is the disposition to liquidate stocks that
have been considered strictly investment
issues like Illinois Central, New Haven.
and others. Should the foreign situation
take a decided turn for the better next
week, prices would probably become ac-
tive and go some higher.
Chicago, May IA great deal of bear
ish sentiment has developed during
the last few days The bears are
timid and do not stand much punish
ment. One of the bears said last night
that reaction like the market had yes
terday, to his way. of thinking, indicated
lower prices unless something develops
to increase the speculative buying power
and the export demand Bulls are fig
uring on larger exports next week, as
the wheat that has been shipped from
Duluth will have reached the seaboard.
Moler-Private cables report the heavy
closing tone of the London markets as
due to weekend liquidation by local OPP
orators and some fresh selling pressure
on Canadian Pacific from Berlin.
saturdays bank statement Is expected
to show moderate gain in surplus.
The Street is looking forward to the
governments monthly crop report next
Thursday to confirm the most briliia mt
crop outlook for a record-breaking yield
OF winter wheat.
Information channels favor purchases
on reactions Moderate irregularities
may be seen today. We would look for
buying opportunities for reasonable
profits.
Rock Island net earnings net for
March include 15S,000 and for nine
months inclusive. H,149,0oo.
E. Randolph-In yesterdays dull mar
ket the most conspicuous fact was the
absence of liquidation which has char
acterized the market for the past ten
days. London prices this morning are
generally lower and the indications are
We shall have a dull sagging market
There is no news this morning of any
special speculative Importance.
President Brown of the New York
Central Lines announces that the loaded
car movement on the company's lines In
April was 1,950.535 cars, an increase of
3e2, 40. This is the largest number of
loaded cars ever handled by the New
York Central Lines in the month of
April.
$. b. Chaplin & Co.-An improved invest
ment demand for good bonds and the
better class of railroad stocks and in
dustrials of merit has been a prominent
feature the past week.
The better feeling in financial centers
influenced by this development and the
brilliant outlook for another season of
good crops, was unfortunately Offset by
the recurrence of the war alarms from
Europe over the strained relations be-
tween Austria and Montenegro over the
spoils of the Balkan war In Albania
The market is now in a position to
make better response than for some
time to any bullish news. especially a
settlement of the Balkan troubles.
The way the market rallied on a
scramble of the shorts to cover Thurs
day on mere rumors of good news from
Vienna" shows rs possibilities should
that troublesome situation be cleared up
next week. or the Supreme Court hand
down on Monday the long expected ia
vorable decision to the railroads in the
Minnesota freight rate case as the coun-
try is now regarding the changes
in the tariff as likely to cause less
to general business with
such briillant prospects for the new
crops, and the justice of the railroads to
increase freight rates at least per cent
likely to be recognized by the Interstate
Commerce Commission.
We therefore believe the most profit
able opportunities are now on the buying
side.
W. B. Hibbs e. Co.-The next question
Of vital Importance to the railways to
come up in Washington will be the pro-
posed requested 5 per cent advance in
freight rates
This will come before the Interstate
Commerce Commission for granting or
denial
1t cannot be denied that the temper
of the commission up to this time has
been on the whole averse to granting in
creases.
The retirement of Mr.. Lane from the
removed one of the most
vigorous opponents of increases, it il
true, but his successor, Mr.. Marble, was
trained in the Lane school. An important
feature of the consideration now may
be the attitude of the railway employees
in demanding increase in wages on threat
Of strike. Undoubtedly this will be used
by the railways as a further argument
for their request for advances in rotos