The Washington herald., 1913-03-01
WALL STREET GOSSIP


Baldwin Locomotive Works reports for
the year ended December 81 net earn
ings of s3.sss.571. against s4.0ss, $50 in 1911;
surplus. $3.50, $3.50.
The strike in the Clarion plant of the
Carnegie Steel Company has been set
tied. the men agreeing to return to
work on promise of an increase of
2l-2 cents an hour in wages.
The public service commission of
Maryland has refused to sanction the
Baltimore and Ohio sS3 900 convertible
bond issue.
The Brooklyn Union Gas Company has
declared the regular quarterly dividend
Of IL per cent. On alternate quarterly
payments the company has distributed
l per cent extra, making an annual dis
bursement OF per cent per annum.
The known movements of money for
the five bank statement days this week
ended with the close of business on
Thursday indicate gain in cash by
the banks Of sl,5O6,23O.
The Virginia Railway and Power Com
pany declared a semi-annual dividend
of 1-2 per cent on its common stock.
The company has previously been de-
claring l per cent semi-annually on its
common stock.
The Baldwin Locomotive Works has
received an order for ninety locomotives
from the Baltimore and Ohio Railroad.
consisting of sixty Mikado type and thir-
ty Pacific type engines. The order
amounts to S2.225.Oo0. and is the largest
single contract received in nearly a year.
London Copper strong. up 1es Sd.
Goldfeld resumes its dividend, at 80
cents a share.
Hartman & Co.-Stocks were under
the influence yesterday of professional
trading, based on expectations of scare
accompanying the Inauguration of Presi-
dent Wilson. His inaugural address. as
described by persons who claim to know
what il is. is not materially different
from the speeches he has been making
recently. and contains no new reasons
for alarm. Some Of the specialties made
sharp recoveries yesterday. Profession
ais claim to be disappointed at the ac-
ton Of American Can. but il was han
died in very conservative manner
WHICH VIII nave ttUutlNN lo
confidence in 1t. The foreign outlook is
better. and all the days influences Of a
positive character were favorable.
Stocks were quiet and stronger in Lon
don yesterday. with more confidence in
the American department. This is due 10
the preparation by Austria and Russia
to demobiiize troops About 100000 men
will be returned TO productive Ia Dor and
S.fy nf cold will NJ hiding
Former President Diaz is to be invited
back to Mexico thus insuring peace in
that country. All railroad earnings show
continued increases of both gross and
net. The short interest In the market
Is very large and the rally begun should
be continued.
creased 10000 in January, compared with
January 1912.
President Shonts of Interboro says
George Gould demands $40 a share for
Manhattan Railway stock. or sls 80 above
the market price for control OF the board.
Republic Iron and Steel Is making the
best showing In earnings in its history.
with plants operating full
Gibson-The market does not respond
so readily to bear talk. and eo-caIied bear
news, as has been the case of late The
professional traders are still very bear
ish. but they have been down the line,
pounding one cripple after another until
there are not many available opportuni-
ties left
The most convincing evidence of a turn
ing point in the market is the increase
in investment buying. I have been in
formed by several close observers that
a number of men who have been out
of the market for a long time. or who,
at least, have not increased there hold
ings in the last year, are now looking
over the bargains and doing some buy
ing.
Moler-The opening was quiet and
but little changed from last nights
close, except in the case of the Can
stocks. in which heavy profit-taking on
the announcement of the "a per cent
payment of back dividends on the pre-
ferred caused sharp declines. Through
out the day trading had been of a
most desultory character, and extreme
dullness prevailed in all departments.
Outside of the weakness in the Can
stocks. very small price changes have
been the rule In the late trading Steel
preferred sold of on comparatively
heaVy trahSactions. but net changes
the list were trffing. A
in the call money rate in
the afternoon was generally considered
to foreshadow poor bank statement
The Virginia Railway and Power
Company declared semi-annuai divf-
dend of III per cent on its common
stock. payable April 20 to stockholders
Of record March 20. The company has
previously been declaring l per cent
semi-annually on its common stock.
Regular dividend on Swift
Senator Smith admits there is very
little prospect of getting the cotton fu-
lures bill out of committee. although
he will try again.