The Washington herald., 1913-04-08

ming well over $1.oOo,Oo0 per day.. is
good basis for assuming that our indus
tries have grown up to independence Of
the tariff.
Investment authorities attribute that
intermittent attacks on such stocks as
Northern Pacific, and Chesapeake and
penses, which tend to hold back the
net revenues.
An active operator remarked that
there is a persistent bullish feeling with
regard to the New York Traction stocks
because the earnings are steadily on
the upgrade.
While trade authorities report some
lirregularity, large market interests con-
slider the present business showing sat
isfactory in view of all the circum-
stances.
Southern Railway earnings for the
fourth week Of March increased $iO,6so
From July l they increased s4,OS3,s54.
s. e. Chaplin G. Co.-As some set
back in the general market had
been anticipated Saturday in view
of the sharp rise which had been estab-
lished during the previous ten days. the
smaller volume of business and the
slightly lower range of prices which de-
vefoped Monday was not surprising.
The uncertainty as to whether a de-
cision would be handed down by the Su-
preme Court in the Minnesota railroad
rate case, and also the desire to await
the official draft of the Presidents mes
sage. which he will deliver i'm person to
congress TO-DAY 70
OF somewhat unsettling character The
only stocks, however. which showed any
important losses were Chesapeake and
Ohio, A. 3. s., and the Petroleum stocks
all OF which were affected more by spe-
cial considerations. In the Chesapeake
and Ohio case there is doubt as to the
advisablity OF continuing the dividend
at its present rate.
We are looking forward to the contin-
uance of a good trading market and at
present think it is advisable to favor
purchases of any of the better class of
more active stocks for moderate turns
on further recession.
f. & c. Randolph-Monday's market
opened active and lower. being affected
by the less optimistic feeling in Europe
where the action of Montenegro continues
to excite apprehension, and by an ad-
widely published by Thomas
w. Lawson predicting very much lower
prices on many stocks. Good support
was rendered at the decline, however.
and the market later became very duh
Reading was steady all day. while Ches-
apeake and Ohio showed steady liqui3a-
ton and seemed to be pressed for sale
rumors persisting that the dividend rate
is in danger and that before long il will
be reduced. Traders during the greater
part Of the day waited for a decision
from the Supreme Court, and decided TO
do nothing until some fresh impulse was
furnished. Time money was a little |
firmer. but call money remained i'm good |
supply at 80. to per cent. In the last |
few minutes the entire market turned |
rather weak on selling, based on the |
speech by the German Chancellor which |
was not construed favorably |
Evans-I can hardly think that the ad- |
vance which took place last week has |
vet eliminated, in spite of the heavy !
profit-taking which occurred in the last |
days OF tho week and I look for a re-
of the movement before long, |
which will probably carry prices UP at
east as high as they reached on the top !
Df the movement on Friday. OF course.
like bull market is to me out |
" the question, as underlying conditions
ire still unfavorable: but temporarily We
should have a good trading market, and |
,or turn ! would rather buy on weak
spots than sell on strength.
W. B. Hibbs & CO-All interest centers
n the approaching contest between Presi
lent Wilson and the protectionist Demo-
rats. Dramatic effect is lent ii by the
Presidents announcement that he will
freak the precedents of century and
eliver his tariff message to Congress In
,erson.
Only one construction is placed upon
hat feature. which is that the President
will throw the tremendous weight of mis-
ersonality into the fight for low duties
An immediate combination of the wool
nd sugar Democrats of the Senate is ex.
ected. The new tariff bill proposes to
lace raw wool on the free list. and to i'm
reduce the duty on sugar % per
ent, with free sugar promised for three
ears hence.
This reduction is declared by the beet
nd cane interests to be insupportablc.
nd they will join hands with the wool
len to fight the bill.