The Washington herald., 1914-06-02
WALL Street GOSSIP.

Lazard Freres have engaged 100000
gold for export to Paris on Wednesday.
Seaboard Air Line-April operating rev.
enue Increase ss0.0e1: operating income
increase. S334sl. Ten months revenue in
crease. $7s3, 3i3; income increase. $5s.l4e
Copper exports for the month Of May
totaled 3l.si3 tons. against as.s1 year
ago.
Norfolk and Western has declared a
quarterly dividend Of 1-2 on the COM
mon. payable June 1s.
The s. s. Kresge Company has declared
the regular quarterly dividend of "a per
cent on the preferred stock and per
cent on the common. payable July l.
Illinois Central has declared the regu-
lar semi-annual dividend of . per cent
on its leased lines. payable July I.
Aggregate value of 3s7 securities dealt
In on London Stock Exchange shows de-
crease for May OF E2o.s2s 900. or s per
cent, following decrease of .06 per cent
in April. Americans gained Is per cent
and home rails declined IL per cent
Delaware. Lackawanna and Western
Railroad Company has ordered $50 steel
hopper coal cars, 40 Of the American
Car and Foundry Company. and $50 from
the Cambria Steel Company. Lacka-
wanna is in the market for 200 automo-
bile cars
Incorporation articles have been filed
for the Chesapeake and Ohio Northern
Railroad Company to build the proposed
extension of the Chesapeake and Ohio
Railway from South Portsmouth to CO.
lumbus, Ohio. about ninety-three miles.
The head of one OF the largest wire
houses attributes the markets recent ad-
vance to the scarcity OF stocks more than
to any other factor. or all other factors
combined. He thinks large interests have
accumulated big lines OF securities. and
that the investment absorption in the
past year or more has not been fully
appreciated. He says IL is when a broker
gets a fair-sized order in stocks which
are only moderately active that he
realizes how small is the floating supply.
The Merchants and Miners Transporta-
ton Companies, in which New Haven
had a 50 per cent interest. which was
sold to Baltimore interests at low
figure, will handle after June Is freight
out of Providence formerly handled by
the Windsor line. which will discontinue
its service to and from Providence in
two weeks. Passengers and freight for
southern and western points will be
handled by the Merchants and Miners via
Newport News, Norfolk, and Baltimore
with regular sailings of three times a
week.
Plant and real estate of New York
State Steel Company. valued at $4,000. 0oJ
have been sold to James y. Thompson.
representing a committee of business men
who propose to reorganize the concern.
New rolling mills will be built.
Eighty per cent of the outstanding re-
ceivers' certificates of Atlanta, Birming-
ham and Atlantic have been deposited and
the time during which further deposits
will be received has been extended to
June TO-
Agreement has been reached between
the protective committee of the receivers
certificates and the bondholders' COM
mittee that foreclosure sales of Atlanta,
and Atlantic. Georgia Termi-
nal Company. and Alabama Terminal
Railroad be held June Sc. the properties
to be reorganized Immediately.
The general protective committee has
paid to the receivers certificates commit
tee sum sufficient to pay to depositors
Of certificates with Columbia Knicker-
booker Trust Company additional interest
at rate Of per cent per annum for the
period from July /, 1913, to July /, 1914
Vice President John A. Monroe of the |
Union Pacific Railroad Company. says: |
There has been a most remarkable i'm |
proyement in the business outlook in the |
past six weeks, and all the hard-times |
talk has been dropped. The only trouble |
has been that we have set such a fast |
pace that a little depression is consid- |
erably magnifed.
Ten ears ago. had we been in our |
present condition. We would have consid- |
cred ourselves in the midst OF boom. |
Business is like rolling plain. We climb |
up hill and then so through little |
valley to the next hill. We are now on /
the climb again. With the crop prospects |
over the country almost super-perfect, I |
can see nothing but prosperity and lively |
business ahead
Merchants / have interviewed in the
West are all smiling. There's nothing
the matter with the country It is in