The Washington herald., 1914-03-31
WALL STREET news.

Snow estimates that the winter wheat
crop over 600,ooo 900 bushels and condition
81, about the same as last year, but on
a much larger acreage. Z
Goodrich, Studebaker and securities of
the auto industry are all favorably af-
fected by excellent earnings, shown for
the first two months Of the current year.
Studebaker Is reported to have earned as
much in two and a half months this year
as they made m the first six months last
year.
Lewis Johnson & Co.-The railroad sit
uation is rapidly coming to a crisis and
the final hearings before the /. c. c. on
the rate cases will, therefore. be followed
with intense interest. The vast invest
ment in our railroads cannot be brought
into absolute jeopardy without shaking
the well-being of the entire country.
Kuhn. Loeb & Co. has called for so
per cent payment by members of
Western Union syndicate, payable
April /. Something over half of the
Western Union stock was subscribed
for by stockholders, regardless of the
Postmaster General.
A Chicago telegram says: Loading
reports of the Western railroads show
an improving situation in the general
tonnage movement throughout the
West Nearly every road shows gains
over a year ago. The betterment Is
not held to any particular commodity
which might hold the general average
but is shown in a great many COM
modities. There has, however. been a
heavier movement Of grain and grain
products. but at the same time there
Of r1arCh ha ndiSp
OF all descriptions.
The movement of livestock made
rapid gains; there was a heavier move
ment of coal and lumber. Farm i'm
plement shipments were heavier than
for some time and packing house
products moved in liberal volume.
New York Financial Bulletin-The bad
news lacks potential power. Had II not
been for that, which is apparently prove
by the action of the list, the develop
ments of the week just ended would
have resulted in a break of many points
in the stock market We believe the
standard stocks of good earning power
have been liquidated. Money is plentiful
Confidence only Is lacking. Political agi-
tation and schemes constitute the cnel
deterrent to the return OF commence.
Yet upon the declines the best stocks
are well taken by people who are 1ar-
sighted and content to hold and be pa
tient. The railroad list is under the ban
of the rate decision delay. while the
industrials suffer from a prospective re-
moval Of allowances" that contain
within themselves the element Of rebate
As times are hard and business small
this condition is oppressive. and the great
corporations. striving to follow business
policy, reduce forces thereby bringing
desirable liquidation OF labor. The best
stocks have discounted all this woe and
we would buy them on the declines
The demand for high-class investments
in bonds and notes is reported as so great
that stiff competition between the larger
bond houses arises when new issues are
put up for bids. II was reported yester-
day that the Norfolk & Western Rail-
way Company received price for its
SIOOO0OOO equipment notes this week so
high that the successful firm in the bid
ding disposed of the issue at a very small
profit. The notes were distributed among
other bond houses by Brown Brothers
and Company. at 100 less is. and IT was
said unofficialiy that the railroad was
paid something like 80 L..