The Washington herald., 1914-01-03
WALL STREET GOSSIP
Chicago Steel Products Company has
passed its dividend.

Chicago Steel Products Company has
passed its dividend.
The New York Stock Exchange CON-
mittee of securities has ruled that prior
lien 4l-2 per cent bonds of National Rail-
ways OF Mexico and prior lien 41-2 per
cents bonds of Natioral Railroad of Mex
ice, January l. interest on which will
not be paid In cash but by three-year
per cent notes. shall be dealt in fiat
until further notice.
The known movements of money for
the hve bank statement days of the week
ended with the close of business on We'd
nesday indicate a gain in cash by the
local banks OF ss.Hss54.
Exports OF copper for the week ended
December II totaled 4,S,3 tons: for the
month. 0.5os tons; same month last year
e9.2a tons.
The New York Central Railroad has
distributed orders for 75,0O0 tons of steel
rails Tor delivery this year. This order
Is only partial one. Contracts for the
roads other rail requirements for the
year viii not be placed Immediately and
their size, II is intimated, will depend
or Two. Steel men, however, are San
guine that the New York Central lines
VIII purchase not less than 10000 tons
of rails for delivery during 1914
New York Central, all lines, Novem-
Der net, after taxes deducted, shows a
decrease OF a.3so5s5; eleven months net.
after taxes deducted, shows a decrease Of
IS, So, SIS.
St Paul November net decrease. s3s5, 800;
fve months. net decrease, s, $4,000.
The improvement in sentiment that has
been so noticeable IN wall street since
the passage OF the currency bill was re-
hected this week in two sales OF stock
exchange seats at $4,000 each an in
crease OF 1850 over the last previous
sale. The falling of In business In the
financial district during 1913 hasy been
directly reflected in the prices Of mem-
bership on the stock exchange, which
witnessed qrite a slump. An increased
price Is regarded as a good omen.
Lewis johnson Co.-There are buIIish
operations IN Third avenue This stock
has been fsvorably spoken OF by the
Housman interests. who brought out a
circular on II a month ago. 1t looks as
II they had started up operations IN il
again. which were temporarily postponed
during the weakness in the market There
are also operations SO called in Tennnes-
see Copper. II looks to me as IL il was
partly by the Boston crowd, also those
who went into IL last year and perhaps
better known as the Walker crowd, who
represent large holders of stock. The
general market appears to have no lead
ership.
New York Financial Bureau to ". r.
Hibbs-Commission houses are advising
clients TO look upon commercial failures
as marking the turning point for the bet
ter. Reading, Southern Pacific, and
Union Pacific seem to be most in favor
with large wire houses for "a January
rise" They are understood to be better
bought than other issues. Reports are
coming from London that business shows
some signs of Improvement. and would
be stimulated by lower money. There is
large borrowing demand privately for
Steel. Union. and Amalgamated. It is
said the short interest in these stocks
is still very large. Conservative interests
are warning clients tina: confidence can
not be restored over night and that
bitches" will appear. Speculative sources
say the market would not have risen to
this level If the financial power of the
East were to be crippled, as alleged, by
the new currency law. Preparations are
being made by far-seeing interests to
care for a substantial increase in business
in January.
SENS. Johnson & Co.-The business
new year starts without any very i'm
portant developments over the holiday.
In many respects the outlook for the
new year Is better, but il Is idle to i'm
agine that there are not a good many
problems yet to be solved and difficulties
to be gotten over. The railroad rate
case Is not yet decided, and the busi-
ness reaction throughout the country has
gained considerable momentum. How
ever, once establish a definite basis and
restore confidence in the outlook and
conditions will rapidly mend. This is
what We must hope for. As for the
market after good rally, 1t has been
subjected TO more or less proiit-taking.
and now seems ready for new impulse
forward on any further favorable de.
yeloDments