The Washington herald., 1914-05-29
WALL STREET GOSSIP. !.

A. B. Leach & Co. have been awarded
| $500 900 4 1-2 per cent twenty-year water
bonds of Seattle, Wash, at q premium Of
$3.50.
| At the annual meeting OF stockholders
of the Pacific Mail Steamship Company
yesterday L. F. Spence was elected q
director to succeed ]. N. Wallace. re-
signed. Otherwise the same board was
| reelected.
Specialists in odd lots say that the buy
ing by small investors during the past
week has been in excess Of the selling In
the proportion OF about 10 to 30. Not
only In the number of shares purchased.
but in the number of separate transac'
tions the records show a preference for
the long side Of the market.
Friends of President Schwab are de-
cIared to have been buying Bethlehem
Steel common. This ID said to be bassd
partly on plans for expansion of China
trade. where Bethlehem Steel interests
are understood TO have obtained valuable
concessions by loan arrangements.
The Electric Properties Corporation has
declared the regular quarterly dividend
of 1-2 per cent on the preferred stock.
payable June 10. to stock of record
June !.
Chicago Telephone Company has de-
clared the regular quarterly dividend OF
g, payable June 30 to stockholders Of
record June 9.
Journal of Commerce estimates rail->
road and Industrial financing In May up
to May IS at sl1.ssl, 200. compared with
slf1 $4,000 a year ago. q decrease Of
SO. 800 OF the sl21 So. 300, sss s34. 900
represents railroad securities and $34.sE.-
800 In Industrial issues.
International Smelling and Refining
Company has filed certificate with New
Jersey secretary of State surrendering
its charter. Ofer of Anaconda to take
over company is cause for the dissolu-
ton.
The balance sheet of the United States
Steel Corporation, as Of March 81, 1914.
as reported to the New York Stock Ex-
change. shows total current assets Of
sSos. 1ss. s5s, including ss5,s7S4Ss cash on
hand as against sss. .ss4 current iiabili-
ties. Undividend surplus Sl45. .+44. .9ss.
Remington-Martin Company, of Nor
folk: Raymondsville Paper Company, OF
Raymondsville, and Norwood Paper Com
pany, Of Norwood. paper mills that went
into the hands of receivers last week
with liabilities of s2.5Ooooo will be reor-
ganized Largest unsecured creditors
are Manufacturers, Paper Company. Of
New York. 500, Burleigh & Weeks,
of Whitehall, N. Y, $4,000: Norwood
and st. Lawrence Railroad Company,
$4,000. and Peale. Peacock & Kerr, Of
New York $4O.0O0
The Southern Pacific has placed orders
with the United States Steel Corporation
for 200 tons of rails. Other rail or
ders taken by tire corporation during the
week amount to about 1900 tons.
The United States steel Products Com
pany has booked orders for 5000 tons Of
rail for export. Car builders are said to
have placed orders for 5000 tons Of
plates and shapes with Pittsburgh mills.
The American Bridge Company will
fabricate about LOO tons of bridge steel
for the Western Maryland. and another
1.5oo tons for the Carter White Lead
company's building.
A New York cigarette company has
hit upon q novel scheme for introducing |
its product and at the same time keep
ing the consumer interested In the COM |
pany and its success
) corps OF salesmen recently invaded |
the financial district. and to every pur-
chaser Of 500 cigarettes bonus of one |
share of stock. par value SO was de-
livered. The cigarettes. likewise. have q
market value of sl0
In this way the company intends dis |
t.ibuting $1oo,o0o par value Of its stock. |
and even after the product has vanished |
into thin air." the consumer still has the |
stock, and II 10 reasonably assumed that
he will be interested enough In the COM