The Washington herald., 1914-07-21
WALL STREET GOSSIP.

Dividends payable today include Deia-
ware, Lackawanna and western; Con-
EOiidated Ice; United Traction. and Savoy
on.
The Detroit United Railways Company
has ssked the state Railroad Commission
for authority to issue 100000 in some
kind OF securities and also asks the COM
mission to make an appraisal Of the
railways properties. The combined prop
ertles now have an authorized capital OF
81, 10000 and bonds outstanding amount
ing to $50, ss1.o 900.
The railway mail pay situation has be-
come intolerable. Not only has the Post
ONCE Department and Congress failed
to provide relief for the grave injustice
under which the railroads have been la
boring for many months on account OF
the increasd burden imposed upon them
by the parcel post, but the Moon bill
now before Congress would. II passed,
actually reduce the pay of the railroads
for carrying the mails by about $4,000, 900.
At the present time. through an en-
tirely Unnecessary delay. and a neglect
Of a direct and plain duty. the Govern
rnent is as clearly robbing the tills Of
the railways as II they had engaged pro-
fessional thieves to perform the Job. In
the meantime, certain Government offi-
cials are boasting OF the Increased net
earnings and the splendid showing made
by the Postoffice Department. Truly this
is a shameful spectacle.-Railway World.
THE July ! disbursements have had q
considerable influence on the investment
market during the past two weeks" says
A. @. Leach & Co. THE demand for
high grade lssues-munlcipals. rails and
corporations. has been satisfactory In
volume. Crop conditions have also been
a strong factor in the making OF an
exceptionally strong market. II present
predictions are realized, the enormous
amount OF money received from crops
will be stimulus to general business
throughout the country which will be re-
hected in a rising market for all classes
OF conservative investment issues. In
cluded in the favorable news OF the past
few days is the announcement that the
Northern Pacific new Is, which were Of
fered few days ago S20, ,oO0, O0o), have all
been sold. The Interborough Rapid Tran
sit syndicate has also cleaned up the
balance Of its holdings. Very few Of the
high grade railroad bonds can be OBJ
tained except at considerable advance
from the prices ruling a few weeks ago.
On the whole, business is satisfactory for
this time OF the year, and the outlook,
as expressed by the leading houses in
this market, is ripe for a steady demand
during the coming months with pros
poets OF exceptionally good business later
on"
Tho London "Statist" Of July II. looking
at the world situation says: ut should
be recognized that the various difficulties
are beiDg ROt Over and removed one nv
one, and that apparently we are getting
very near to the time when all or almost
all the difficulties will disappear. In
France the government loan has been IS
suCd and has been a great success. In
the United States the crops of the cur
rent year are unusually abundant and
there is Increased disposition on the part
nf the administration 10 work in harmony
with the business interests OF the coun-
try. In Mexico a change Of one kind
or another seems to be imminent, as the
are now getting very
near 10 Mexico City. In this country the
lister question is in course of settlement;
indeed, a very great change may at any
time occur in the whole situation, and
the difficulties which now seem so great
may entirely disappear.
''N hen all the cireumstances are takrn
into account the right course for in
vestorC to pursue with securities at The
current level OF prices is to hold on: for,
even If events were actually TO be un-
favorable, they would largely, II not ell
TREY. be discounted by the, current level
Of prices. And when one takes into az
count that powerful factor making for |
mprOvement-the great accumulation OF
money IN the international markets-One |
should realize that the present Is the |
time to purchase and not to sell stocks"