The Washington herald., 1914-05-05
WALL Street GOSSIP.

Delaware, Lackawanna and Western
Coal, Illinois Traction common, Inter.
national Smokeless Powder and Chemical
preferred. Penmans Gtd) common. Sea-
board Aair Line preferred. and Vacuum
Oil sell ex-dividend today.
Wheat traders expect the government
May report to reduce winter wheat
acreage about 10000 acres below the
seeded area OF 81, 506. .00O acres.
Advices from Mexico CO. report that
the Puebla state gOveTT-I..ul las seized
all property Of the Watr pierce oil
Company in the city OF f-uebla. This In
clIrdes hundreds Of cases Of oil and large
tanks valued at several hundred thousand
collars. There is no official confirmation
OF the report
II. X. Evans to W. b. Hibbs & CO.
The market had a slight reaction Satur-
day as was the only natural after the
rapid rally. II Is apt to be uncertain for
4 time longer. but I believe on all weak
spots stocks should be bought. The an
nouncement of the appointment OF Mr..
Warburg TO the Federal Reserve Board
will undoubtedly be well received by the
Street. Mr., Olney, who has also been
appointed. is undoubtedly a good man,
bulb as ne Is StNtTly-nlne years OF axe,
1t would naturally be expected that his
years would prevent his being a very
useful member OF the board.
An interest in close touch with affairs
of all pipe line companies says that he
thinks a reduction in Buckeye dividend
under present conditions Is improbable.
He points out that thrdletaozfihnffih
close of 1913 had profit and loss surplus
of S9,4O7.SS4. This interest takes the view
that the company's big surplus was built
up for the purpose of protecting the
stockholders in such a time OF depres-
sion as the present and that as surplus
really belongs to stockholders the divi-
dends Of 10 per cent quarterly should be
continued for the present.
F. y. Brown. president OF National
Railways OF Mexico, will probably re-
main in New York until MeXicO's trou-
bles are in fair way OF adjustment. San
tiagO Mendez, vice president at Mexico
City. will be active head of property.
Imported frozen beef was a drug on
the marke: a week ago. but the Mexican
disturbance has been a veTitable boon to
owners OF the accumulation. Practically
everything in cold storage has been
taken on naval account.
Transactions in stocks on the New
York Stock Exchange during April
amounted to 7.ln.2IO shares. This was
larger. with the exception OF January,
than any other month since last October.
and compares with 5.Ni02gI shares in
March and 6.23S.l79 shares in February.
Bond sales during April Amounted to
81. .96SO0l. This compares with the three
preceding months Of this year as fOl-
lows: March, SGOOSS. so: February. Ss9,-
595.OO0 and January. sSS3l6.5OO. In April.
1873 the bond sales amounted to SS5,-
$4,000.
The time for depositing coupons OF the
National Railways of Mexico guaranteed
general mortgage per cent seventy
year sinking fund redeemabIe gold bonds
and Of the National Railroad Company
of Mexico first consolidated mortgage
per cent gold bonds with the Guaranty
Trust Company. of New York. has been
extended until June l. 1914. Holders of
large amount OF the securities have ac-
cepted the Company's offer to make pay
ment of the coupons due April in tine
per cent secured gold notes OF the
company due January /, 1917. secured by
G36S 40 6 per cent tcn-year treasury gold
bonds of 1918 OF the Mexican govern
ment.
Under the agreement with the Mexi-
can government if on or before June /.
1914. holders to the amount of 70 per cent
shall not have signified their assent TO
the offer. the company Is bound 10 with
draw it, and IL holders of ~ per cent
shall not have assented the company is
bound to withdraw the offer, II the
Mexican government so requests