The Washington herald., 1913-11-12
aow wIth ths Issa tAss sAsrp rseovsry

Room traders inclined 20 sell on theory
that many shorts being driven in weaken
ed the technical position. New Haven
responded well to the decision In favor
of the bond issue.
c. J. Housman-Trainmen and conduc-
tors only get per cent where 10 per
cent was expected. and their strong
rates should help that situation.
Judge Sheldon, in the Supreme Court,
Tuesday refused to enjoin the New York.
New Haven and Hartford Railroad Com
pany from issuing s67. So. 900 In bonds au-
thorized by the public service commission.
II Is estimated by insiders that the
Minnesota rate case decision has done
but small damage to Northwestern
roads. In many cases their earnings are
larger than before. owing to increasing
Of traffic along natural lines
J. P. Morgan q Co. have bought and re-
sold to White, Weld & Co. 1900. 900 Chi
cago and Western Indiana Railroad Com
pany mortgage consolidated As bonds. 1t
Is understood that the aforementioned firm
is privately Offering the bonds on about a
N per cent basis.
Arbitration saward of per cent for
trainmen increases New Haven's ex-
penses between 10000 and 500, ,OoO. At
the special meeting OF the directors there
may be some discussion of dividend rate,
but actual declaration OF expected per
cent is due next week.
The American Linseed Company reports
for the year ended September %, COM
pared with fourteen months ended Sep
tember 30. 1872, gross earnings, increase.
81, ,55S,965; net earnings. increase, ss23, 235;
surplus. increase. ss7i, ,isl; surplus octo ber
l, 1912, was s7s7, $50 and the total surplus
September so ;l.2eI.lO.
Childs-Thc market acts oversold, and I
see no reason why this rally should not
extend two or three points further. I'm
proyement of Mexican relation and in
crease of rates and crop report are all
factors in the covering move now In
pyogress. Baruch. brokers. were buyers
afternoon and this morning.
Bulls were pleased with the action Of
the market during the second hour. Trad
ing was light but stocks held their
gain, a fact which indicated that the
rise had not resulted from bullish ma
pipulation or hurried covering of shorts.
Large interests seemed to be buying
while exercising care not to rush prices
up against themselves.
The London Stock Exchange yesterday
published a long memorandum con-
demning the methods employed in intro
ducing shares of the MarconI Wireless
Telegraph Company OF America. on the
market Aessers. Heyborn and Croft
were referred TO as the principal jobbers
in the matter, and were suspended from
the exchange for five years. The Official
announcement contains a warning that
any member OF the stock exchange en-
ploying similar methods In the future will
be liable to an equally severe penalty.
S. B. Chaplin & Co. TO w. B. Hibbs
& Co.-There was a recovery of l to
l 1-2 points in the principal market lead
ers, but lack Of responsive buying from
either local or outside sources proved too
discouraging for any real bullish efforts.
Notwithstanding the much more favor
able news of a semi-official character
from London on EngIand's attitude on
the Mexican situation and the better
tone of all the foreign markets.
In the best informed quarters no en-
couragement, II is said, will be offered
for a bull movement by operators until
a settled policy in the Mexican situation
has been adopted and a satisfactory
currency bill agreed upon.
z. & c. Randolph-The Improvement
which was under way at the close Mon
day continued yesterday. The market
opened strong all around and advanced
during the first hour on quite urgent
short coverings by the room. This buy
ing was sufficient to advance prices on
an average a point or more throughout
the active speculative list As has been
the case so often heretofore, trading
grew dun on the advance. and, when
the demand from shorts was filled. but
little outside inquiry developed Prices
have been well maintained, however.
in the absence of offerings and the mar
ket rules only fractionally below the
best figures but extremely dull in regard
ican difficulty.
The fact that the court refused to en-
join the issue OF New Haven bonds was