The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-01-09
WALL STREET. GOSSIP.

The New Orleans Cotton Exchange wa,
closed yesterday.
Bank OF England rate reduced from S
to Ala PEI cent.
The stockholders Of Lord 4 Taylor a,
special meeting yesterday voted to in
crease the second preferred per cent
accumulative stock Of the company from
100000 to 100000.
The unsold balance of the New YORK
allotment OF s1.00o.0oo St LouiS and San
Francisco one-year 8 per cent receivers
certificates, purchased by Speyer & Co,
are being offered at .ss1-2.
the Standard OIL Company of California
will have the right to subscribe to 10 per
cent OF their holdings. the directors hay-
ing authorised the sale at par Of G14
shares Of treasury stock, subject to the
approval Of the State Railroad Commits
sion of California At a special meeting
on March is. stockholders win vote on
an increase In the capital from $4,000, 600
to sioo.ooo,ooo recommended by directors.
Mann. Bill & Ware. in accordance with
their custom. have issued a table of
money rates for 1872 giving the weekly
average and range of call money, and
the rates for sixty days. ninety days.
six months. and over the year advance.
Delaware, Lackawanna and Western
Railroad Company earned between Al Der
cent and a per cent on its so. 1900 out
standing stock In the calendar year 1913.
This estimate is based on eleven months
tnrnrna nd Ill
some shrinkage In December earnings.
The statement furnished to the New
York Stock Exchange in connection with |
the listing on January 8 of 81 co., 900 ad- |
ditional stock showed that Lackawanna |
in the twelve months ended October 81 |
1913, earned a balance for dividends OF |
s12.S72,511. This was equivalent to CT |
per cent on the outstanding stock Il |
compared with s1l. 80. 7ss, or % per cent, |
In the year ended December 81. 1913, and |
with 81, sS265s. or 49, per cent, In 1911.
Lewis johnson & Co.-The market Is
somewhat reactionary. The Increase in
the stock OF copper was much larger
than any one anticipated. while the fig
1res for idle cars also show a big Jump
n the wrong direction. These, however,
are but reflections of what everybody
knows, and that Is that trade contracted
sharply, beginning about November L
The market is steady enough. but IL is
lot as anxious to advance.
8. B. Chaplin to W. B. Hibbs & Co..
Most Of the trading element regarded the
'atification by the Union Pacific directors
u the plan fer the distribution OF the Bal
-imore and Ohio stock held as an invest
nent by the company, as marking the
md OF all the good news on the stock,
Is Its next dividend will be the rate OF
per cent. This and the very bearish cop
per report were not allowed, how
'ver, TO have any important bear
ng OF depressing character on the gen.
raj stock market. There was a great /,
ieal OF profit taking anG also considerable
resi- speculative selling. but there was i,
'ood support throughout the day and out !
ide OF the slump of point in Union Z
'acihc and American Can preferred, the {
let losses at the end Of the day were
My OF slight character. {
The regular semi-annual dividend Of a A
er cent on Baltimore and Ohio was de-
Jared just as the market was closing Z
hus proving that there had not been !
he slightest foundation to any of the re- v
ent bear rGmors that 1t would be re- v
uced.
Hartman & Gothic increase of a. 7
e,4Ss pounds in domestic stocks of con- :
er took the trade by complete surprise a
While it was generally expected that the v
icrease would be a large one, such an "
lormous addition TO supplies was un- "
'oked for. The result was due almost n
ltirely TO tn" slump in deliveries to do
Iestic consumers the aggregate being the Z,
nallest reported since the formation of "
lie association. n
n. L. Carpenter & Co.-Except sales of y
bout 1000 July cotton, there was no =
gnifance to the trading and the market
lied very narrow. Local sentiment was NJ
Lther bearich and some went short COW L.
ing on the close. There is nothing new
say about the market and IL the G.
inning figures comes as expected around
10000, no great change from present Ar
wells Is TO be expected. People close to q
e big spot houses are talking very bear 20
h and adviring sales on any bulge. n;