The Washington herald., 1914-01-17
WALL STREET GOSSIP.

William A. Greer has been elected a
member Of the arbitration committee OF
the stock exchange to fili the vacancy
caused by the resignation Of Ira A
Kip. Jr.
Aymar johnson, Of Messrs. johnson,
Wood & Rogers. has been admitted to
membership in the Curb Association; also
Homer A. Latin. Of Messrs. A. II. Combs
& Co. and John Heck. Of Messrs. Roger
sor & Donnell.
The Pennsylvania Company has applied
to the stock exchange to. list sloooo.ooo
forty-year guaranteed 4 per cent gold
trust certificates. series e." due 49,
The New York Stock Exchange has
stricken from the list Inspiration Con-
solidated Copper Company. subscription
receipts for first mortgage bonds due
lss2
Controlling interests in the Missouri,
ceivership OF the property will be short
lived. and that interest payments on the
SIC, ,se6.75o first mortgage bonds will be re-
sumed perhaps within a year.
John Clafiin. who was reelected to the
board Of the National Bank OF Commerce
Tuesday. has resigned that office because
OF his decision OF some time ago to re-
tire from his New York directorships, and
his resignation has been accepted.
Arrangements are nearing completion
for the extension to June / OF the $lo.-
100000 one-year per cent notes Of the
Boston and Maine Railroad which mature
on February J. On June the company's
81. 10000 per cent one-year notes also
mature.
An additional issue OF st. Louis and
San Francisco per cent receivers GER
tific9tes is expected within the next two
weeks. Judge Sanborn. of the Federal
court. authorized the receivers to issue
100000 certificates without further ap-
plication. OF, these, Speyer & Co. took
81 .ooo. 900. and st. Louis bankers $50. 900
This left sl.450,ooo to be sold by the re-
ceivers. and as many of these will be
sold as bankers think will be absorbed.
George J. whelan. founder of the
United Cigar Stores Company. and who
recently bought controlling interest in
the Riker q Hegcman Drug Company,
sailed for Europe yesterday.
Speaking Of conditions in the United
Cigar Stores Company, Mr.. whelan said:
The United Cigar Stores Company has
just gone through the most successful
year Of its history-a year that has been
particularly a source OF qualification
because of the gain in sales accomplished
with only. slight increase in the num-
Der OF stores as compared with the pre-
vious year. During the twelve months
ended with December. sales of the United
Increased in the neighborhood Of 1900 coo.
as compared with 1912. We decided that
the increase warranted an advance in the
dividend from per cent TO per cent
annually"
Dow, Jones & Co. to w. r. Hibbs-
Contrary to recent reports American Can
Company has no plans on foot 10 perfect
an agreement with the government for
voluntary dissolution. 1t is thought that
| several weeks ago counsel of the COM
pany had certain plans for an agreement,
but these negotiations. il there were any,
have been dropped.
In the event of the company fighting
the suit through the courts, 1t is not
probable that the remainder OF back
dividends on preferred stock will be paid
out this year, as the defense would be
expensive. As near as can be learned,
the report for 1913 will show, after the
| bond interest, sinking fund, and pre-
ferred dividends, an amount equal to
about s per cent on the common stock
after allowing $4,000 for depreciation
In 1912 the company allowed nearly
81, 100000 for depreciation and showed
nearly 9 per cent on the common.
1t must be remembered. however. that
the preferred shareholders have nearly
9 per cent still due them before the
common holders receive any disburse-
ments.
s. B. Chaplin to W. 3. Hibbs.-The
market was subjected to a good test In
the carly trading. and 1t came out of 1t
SO remarkably we'll the bull interests,
who have been behind the upward move
ment since the attitude at Washington
was suddenly changed were sati=fed
with its underlying conditions. A great
deal Of Steel, Union Pacific, and Read
ing was suddenly thrown on the market,
and nearly all the active traders be-
came aggressive in their efforts to bring
about a good reaction. But after prices
had slumped one-half to one point for
the most active stocks, such renewed
buying was encountered that this pres
sure was withdrawn.
The market is well under control and
looks as IL II will continue to broaden
and work gradually higher.