Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-01-11
Thinks Public Will Be More
Kindly in Its Attitude
Toward Business.
LOOKS FOR INCREASE
IN RAILROAD RATES
Price-Cutting Campaign Results in
Activity in Pig Iron
Market.

NEW YORK. January 1o.-The stock
market found incentive to speculation
this week in the announcement of the
Union Pacitic's plan for the distribution
of its Baltimore and Ohio stock This
in conjunction with other recent an
nouncements indicating a disposition on
the part of corporations to adjust their
AFFAIRS to meet the views of the federal
government gave rise to hopes that pub
lie opinion toward corporations would
henceforth be more favorable. In this
connection there was lively interest in
the Presidents forthcoming special mes
sage to Congress on trust legislation
The coming hearing of shippers OBJ
]ectons to the proposed ) per cent in
crease III freight rates will test the force
of the railroads case already presented.
argument for the increase was seen in
the severe losses in net earnings for No
vember. with worse showing expected
Tor December. as gagged by the increase
In IDLE freight cars. The market effect
OF these losses was, however modified
by expectations that the railroads would
be victorious.
Trade Sentiment Hopeful.
There was a similar modifying effect
rent returns from iron and steel and from
copper. Hopeful sentiment is recorded
In both these trades.
Expansion in merchandise imports for
December directed attention to tariff law
influences. The expected January re-
taxation of money markets proved mark
ed. Reflux of funds to New York was
strong, with gold from Canada included
do
exchange rates rose. Corporations are
said to be negotiating large temporary
loans, indicating further postponement of
long term issues. The problem of fund
ing government note issues weighs on
the market for capital in Paris with the
delayed French loan an obstacle Meyi-
can and Brazilian difficulties disturb both
Paris and London.
Pig Iron Business Heavy.
Since January a large volume of pig
IRON business has been transacted. Mer-
chant orders this week aggregated 300. cob
tons, equal to the total sales in Decem-
Der. The increased business resulted
from an aggressive selling campaign in
lake furnaces, made necessary in order
to keep furnaces in blast and pig iron
from piling the banks All is over
now, however. Prices at Buffalo were
% per lOH $lo, and
organiZatfon-the American Pig Iron As
sociation-came into being. Foreign ferro
manganese is down to 80 ex-ship sea-
board
Steel mills are in better position Spec
fcations against contracts were more
and larger orders for bars,
plates and shapes We're encouraging.
Contracts for finished material during
the week aggregated 100000 TONS A
better tone was evident in prices, s12o
base being the minimum on bars, plates
and shapes for the first quarter and s1.25
for the second quarter.
Advance on Wire Products.
Lower prices for wire nails by some
independent interests were met by a |
of prices on all the wire prod
lets by the American Steel and Wire
company. preparatory to an advance of
Il per ton.
The Lackawanna Steel Company has
begun rolling 100000 tons of rails for
he New York Central, and the Erie has
ordered 5000 tons. Car shops booked
orders for Lilo cars, including LOCO for
he Clover Leaf.
Steel building work was more active.
Fabricating shops booked orders for 3d.
40 tons outside of 13, 800 tons for the
New York elevated.