The Washington herald., 1913-06-08

who is not looking for the ultimate low
and who is prepared to carry his
stocks a while, irrespective of imme-
date happenings.
Europe will come back to this mar
ket. Wall Street needs but one or
two favorable happenings and the turn
for recovery will come" :
GINS shares Higher.
The feature of the local exchange
session yesterday was an advance of
Y point in Washington Gas stock. The
figures al which the list closed on Fri
day brought orders from investors,
and seventy-five shares were traded in
at 50. as compared with close on Fri
day at sly.
This was about all the action. A
little Mergenthaler brought 212, and
Union Pacific stock sold at 1875 LIS.
Bonds were a trife easier. Railway
Is. seq; Anacostia and Potomac IS,
IS. In all, $1,000 of this issue has sold
during the year to date, and the price
declined from 1o1 at the opening to the
IS of yesterday.
Bid and asked prices practically gave
no indication of actual market condi-
lions. save as to asking prices.
The Yenr to Date.
The better part of six months of
1913 has gone by. Trading during the
next three weeks will not materially
change the total figures of today. Rail-
way and Electric common holds the
leading position as the most active
stock of the list.
In all. 4.734 shares have been re-
corded on the sale list, the low 81, the
high sI1s, and the last price ST.
Railway preferred took second honors.
with 1855 shares. and Traction was
fourth, with 1900 shares; high, l26; low.
10: last. 1201-
Lanston, third in volume, broke dur
ing the year to date from 30 to 50, Mercy
from go to 21s, and Gass has fiuctuated
between IS SIS high, and 81 3-S low, to
s. the last. Bank stocks are holding
splendidly, while the prices for local
bonds have been fayorably commented
on by investors generally.
Wall street Weaker.
1t was an irregular market. spotty.
declines American Can in the industrials
was under pressure, and made a new low
at 3 "a. as compared with q, Fridays
closing. There were rumors Of a gov
eminent suit under the Sherman law.
and also Of a large line OF stock liquidat-
ed. Canadian Pacific went back again
about two points, despite reports OF in
tended buying by foreigners.
The most important inference drawn
from the close watchers of the situation
was the belief that the Standard Oil in
terests have started to acquiring stocks.
Months ago, about the first of the liqui-
datiOns was that OF the Standard Oil
crowd. They were evidently better pre-
pared to read the handwriting on the
wall than any other big interest, al
from the events and actions since tina.
time, all of which were apparent GER
tainties months ago.
BeIated Orders.
An order in Atchison was filled yester-
day by local broker that had been
carried on the order books OF the nrrh
for more than two years. Atchison was
weak TO soss yesterday.
There wasn't much gossip or news.
Matters were said to have been arranged
in England so that there would be no
more selling pressure from there, but
Canadian Pacific went back to 1874 just
the same.
1t was a Saturday market; that's ALL
a Convert to Construction.
Hon. John B. Olmsted, Public Service
of New York, said in a
recent address in connection with his re-
tirement from that office:
Il came into office with decided lean
ings toward the anti-corporation view
Of public utility questions. Some of my
good friends among corporation lawyers
in Buffalo were kind enough to say that
l was too much of an anarchist to be OF
much use as a commissioner. want or
as to the precise point in
VOWED l have found in many cases to
be the principal cause of prejudices Il
then entertained. Experience has taught
me that there is another side to these
questions not lightly to be dismissed.
Il held the view. as 1 imagine many
another holds, that New York Central
is grossly overcapitalized, and is paying
dividends on large amount OF what is
popularity known as water. When i'll
came to my knowledge as part OF evil
dence of long investigation in Buffalo,
Rochester and Eastern case that esti-
mated cost of that company's so miles
from Troy to Buffalo, planned without