The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-06-03
WALL STREET GOSSIP

Although the foreign banks show an
| Improvement in condition. II is believed
by weil-informed interests that Paris
will take more gold from New York.
Investment circles explain the decline
in Texas and Pacific to panic prices.
due to unfavorable earnings, in addi-
ton TO the Frisco receivership infiu-
ence. which has been felt in Missouri.
Kansas and Texas. Missouri Pacific, ana
other low-priced rails.
A prominent Boston operator is ac-
lively trading on the long side of Union
Pacific. and is said to he aided by a
short interest, which is providing an
especially good borrowing demand for
the stock.
Floor gossip is to the effect that ILL.,
nois Central will be able to pay the
course to the surplus of the company.
a big trader says investment buying
more and Ohio is likely to be limited IN
| case an Offering of Southern Pacific
| stock at lower figures is made in the
near future by Union Pacific.
Foreign firms are reported to feel that
the recent declining tendency of Cana
dian Pacific has been natural. in view
of A congested investment situation IN
| London and the unsettled financial con-
ditions on the Continent
Regarding statements made in certain
New York newspapers to the effect that
Judson c. Clements. of the Interstate
Commerce Commission, had announced
| that an investiga ton of the st. Louis
and Frisco situation, Mr.. Clements said
yesterday that the commission was not
as yet considering an investigation of
the receivership of the road. So far the
| facts in the case have not been presented
to the commission other than by news
paper men.
The new two-year per cent notes of
the National Railways of Mexico will be
offered by the bankers at 81.
Pennsylvania system for April total
East and west-Total operating revenue
increase, s2.7T,ss5. Net operating revenue
decrease, N.2A.s55.
The fortnightly statistics show that the
European stocks of copper on May 81
decreased 3,ls4 tons, while copper sup
plies afloat increased $50. making a net
decrease in the total visible supply of
2,514 tons to $3.50 tons, as compared with
42,7o4 tons on May Is last.
Chicago. Rock Island and Pacific has
declared the regular quarterly dividend
of / IA per cent.
No time has as yet been set for presen-
tation Of the Union Pacific dissolution
plan to the Circuit Court. The time will
be set to meet the convenience of the
court.
London sold stocks all around the room,
| its sales being estimated at 5000 shares
as a low estimate.
| Rock Island-Month April, net de-
crease, s1o5.5a. Ten months. net increase,
8. 3e3, e53.
There has been some calling of loans
| by banks and call money is slightly
firmer. This is due to June disburse-
ments which are engaging the attention
of the banks.
| Market is mostly professional You
don't see any good buying or selling.
Europe has been principal sellers of
Shelters. Mestre sold Reading Rogers
1
There seems to be an entire absence
of aggressive support, large interests be-
ing apparently DESTROYS of getting stocks
as cheaply as possible. This probably
means the decline Is over the secon-
dairy liquidation. Union Pacific went down
very easily. but seemed to get support
around 145.
| c. ]. Housman-These are the days
that the powers-that-be will have to step
| in and protect the market-it all depends
on how much liquidation will be brought
about by these low prices from London.
| OF course Canadian Pacific is in a class
| by itself. and as we have said for. some
time quite out of line with all other Sc
curities. The news in the papers over
the holidays was bearish enough to suit
the most fastidious, and there was little
choice as between Mr.. Untermeyer's
recommendation for another Money Trust
Investigation, to which some Senator
wanted to hang on bill against short
selling. and a market in London generally
glutted with new issues-our cup of Bliss
is quite full
Attorney General McReynoids has the
dissolution plans of the Hartman mer-
ger, details of which have been published.
but has not yet had time to give them
any consideration. He said he did not