The Washington herald., 1914-01-18

1t is understood that g. 900 600 per cen,
notes of the Minneapolis and ST Louii
due February I, will be paid Speyer &
Co., who have agreed to take new issue
Of notes, which will be placed privately
The following received by stock ex-
change from New Haven: I'm accor-
dance with q decision of the Supreme
judicial Court of Massachusetts. this
company withdraws its offer Of October
| 16, 1873 Of rights to subscribe for new
6 per cent convertible debentures This
company will pay to holders OF its re-
ceipts on surrender thereon the amour,
paid by them upon principal Of proposed
debenture with interest at 6 per cent
per annum on said money from October
I, 1913" Committee on securities OF
stock exchange rules that dealings in
said rights be forthwith discontinued. and
contracts under circular OF October Is,
1918, are void.
Paris is sure that ii will be able to Sc
cure SO 900. 900 gold from New York before
March ]. and the question has arisen as 70
whether other centers will call upon this
city for the yellow metal
Last year, IL will be recalled, ship
ments of gold to Paris started a move
ment which broadened out to a total out
flow of s66, 0oo0 600. of which 81. 100 went
to South America. 81. $4,000 to Germany,
with sundry shipments elsewhere. The
gold shipments to Argentina started on
January is and continued until March Z.
Conditions this year are not the same
as in 1913 As to the European situation,
Paris seems to be the only center where
there is any semblance of a strain.
The New York Stock Exchange again
has amended its rule providing for the
prompt publication of action on dividends
As now worded, the rule requires corpor-
ations whose securities are listed ito
publish promptly to bond and stockhold-
ers any action in respect to dividends on
shares. interest on bonds. or allotment of
rights for subscription to securities, no.
tices thereof to be sent to the stock ex-
change: and to give to the stock ex-
change at least ten days notice in ad-
vance of the closing of the transfer books
or the taking OF a record OF stockholders
for any purpose.
Lewis Johnson & Co.-The market
shows little change. Trading has been
quieter, but the tone remains strong.
This is not surprising in view of the
activity and advance of the past week.
The main factors in the situation have
peen restoration OF confidence, owing
to the belief I'm the Presidents conserva-
tive attitude, and also the powerful in
fiuence of the easier money market The
next thing to watch for will be signs OF
actual active trade Improvement
The present belief is that the admins
tration will not permit unduly radical
measures to be passed and II is this
belief that is the mainstay of present
situation. Naturally the Presidents s
message. expected next Tuesday, will be
awaited with great interest.
Local cotton traders, some of them at
any rate. appear to take a bearish view
Of yesterdays rumors that preliminary
rumors to the National Ginners' Associa-
ton indicated a ginning of l57,0o0 bales
between January l and Is. A bearish
of such a report would hard
ly be taken by any one who had not
formed too bullish a view Of the figures
to the end OF December ginning, for the
first period in January last year amount
ed to 1sl.0O0 bales and In the small crop
year Of 1909 II was 10000. A report show
ing $4,000 for the period this year would
seem to justify an assumption that the
total ginning TO January Is represented at
least the highest previously reported per-
centage Of the total ginned to that date,
which was 97.3 per cent in the season of
1870 In 1910 the ginning for the first half
Of January was 1900 ginning of
l51,0oo from January / to IS this year
would give a total of 13.leoooo to that
date. and on the basis of e73 per cent
Sinned would represent q total yield Of
approximately 13, $1,000