The Washington herald., 1913-08-26
WALL STREET GOSSIP

The Subtreaspry gained s1,1OO0c from
the banks Saturday. and since Friday
has gained $S.lOi,OOO net.
Speyer & Co and Kuhn. Loeb & Co.
have purchased 100000 Pittsburgh, Gin
cinnati & st. Louis Railroad consolidated
mortgage AZ per cent gold gonds guar
anteed by the Pennsylvania Company.
The Brooklyn Rapid Transit Company
declared a regular quarterly dividend OF
~ per cent.
Childs-The Mexican situation is the
chief market factor. and it looks TO me
as IL the market is being held around
tn S level awaiting developments. On the
rallies, selling looks good. but with
the Mexican trouble fixed up, we should
get better market Traders are watch
ing Washington houses. and the next
move will undoubtedly be based on
news from there.
E. & C. Randolph to W. B. Hibbs & Co
On a moderate volume OF activity this
morning the market opened higher, but
has remained duh since. The under
tone has been good and the opening ad-
vances have been well maintained. in
spllc Vi lIle NGdhNtsS OF Ne" Maven
which declined to a new low record
Lehigh Valley was an especially strong
feature, making a new high record on
this movement, while the excellent re-
port published by the American Loco
motive Company was reflected In A fur
ther advance in the stock, the first
sale being made at SiiS. compared with
S35s at Saturdays close. During the
later trading the market shaded some
what from its best prices, but in spite
of the dullness remains decidedly firm.
Steel buying continues TO show a large
increase over that OF a month ago. Com
pared with the low level of three months
ago, the Steel Corporation shows a gain
Of between 80 and IS per cent in book
ings and the independents report a SINH
lar increase. Buying of wire products
shows an increase OF 70 per cent COM
pared with a month ago. The heavier
demend on the part of consumers is due
largely to lower prices and manufac-
turers report that there is now con-
siderably less under cutting.
New Haven weak on report Of reduc-
ton OF dividend.
H. K. Evans-The most significant
feature about developments last week
was the marked increase in ease
in money, both here and abroad.
and this has encouraged sentiment
on both sides OF the water. There
fore the market shows strong
tendency in face of crop damage re-
ports and a very uncertain Mexican
situation. There is very little pressure
Of stock. and 'momentarily, barring ac-
cidents, the market looks as If it would
go higher.
The advance in Canadian stocks was
on rumor that at the forthcoming meet
ing an extra distribution in addition to
regular IA per cent on the preferred
would be declared by way of reducing
arrears on that issue.
The Memphis Commercial Appeal
cotton report issued today shows
an average crop condition of 696. which
is very bullish. In the absence of much
needed moisture in the Southwest and
the rather unfavorable tenor Of South
western crop advices, a higher range of
values will probably be established.
Look for buying opportunities with in
tention to secure substantial profits un-
less unexpected developments warrant
the acceptance Of smaller returns.
Union, Reading, and Copper are
strongly absorved. Canadian is well
bought on recessions.