The sun., 1916-10-20
GOSSIP OF WALL STREET.

SesterdayS marEet was one or b-Oan
movements. Tho reason which traders
gave for this was a growing scarcity In
the floating supply of stocks. For the
last year and half. they point out,
there has been excellent buying OF stocks
by individuals with Investment rather
than speculative instincts. by firms. by
Institutions and by what ono broker
called "fsmily companies" By this last
term tho broker meant corporations
whuse stocka are held closely within one
family. These corporations have ot
course largely shared IN the general
prosperity and under the name OF the
company members of the family. Ike
the class of individuals and institutions
referred to. have bought heavily Of stocks
without any thought of disposing ~
the;n by sale unless future developments
should make such a step obviously de-
sirable. How long these individuals.
families and institutions will refrain
from selling depends on tho period Of
this country's prosperity and the abun-
dance and the cheapness OF money.
situs ton applies to bonds as well as to
stocks. are locked away In bores.
Broad Msvemeuts.
A soors or more OF issues gaye illus
trat.on yesterday ~ tho limitation IN the
floating supply. General Electric moved
between ls2 and iss. tho latter prics
within y ~ the hiRh level ot the year
ana =, better than last years top notch.
American Writing Paper preferred.
Union Bae and paper common nni new
stock. when issued. and International
Paper embraced fluctuations % : to 4
points, osc-w'les and National Bs-
cult 10 s points ana moro Maxwell.
Studebaksr and WHY'S -C,verlas sd ~, 70 :
points, Industrial Alcohol nearly 6
points. United Ststss Rubber md West
inghouse around points. and 80 on
| relatively through the list. Among the
| rails Chesapeake and Ohio touched ns
highest pr'ce IN three years at -.
Union Pacific crossed 1871.
Crackers Or Crumhs-whichs
I.oose-wiles and National Biscu,.
| shares have been the hull sensation. Of
tho week to Gate. Loose-Wiles has
doubled SIS pr.ce this week from Mon
| day's low at ~. selling tho highest IN
two years. National Biscuit achieved n
record pric. FOR mi. year ut f3iI,. u
| is d.r1cul. 10 explai these moves cycep.
through the r"cess't'cs Of the shorts and
| Tie inability to &c. -toc,s Thcse com
| pin.eS sprear 20 have rea,h he'd 80 point.
- was remarked l'kc The p-ov.-hial -, e
| uatior between Tho levil and the de-p
sca. The price ~ flour ias gone w and
tile price cr paper from which 'he car
| tons are raio has gone up. materially
reducing the margin OF prodt. on IN"
other hand. Il !s unlikely that tho COW
sumner would pay more for his crackers
| without curtaiiing hs consumption
| q. V. - p. q. n.
TIE stock o' CASTOR. Williams 4 WY.
| more. Inc. successor TO the firm whose
great success IN war contract business 4.
| well known. was dcA' In on tho S'ocl
Exchange fo- the first time. Tho S'oc,
Exchange authorize. gave T. tho .iclai
ahbrcyiation 20 *" but folks who
speRh Spanish dubbed ~ p % r., fo'
the listing application said tina. IL.
principal ONCE Of a subsidiary. Gas'or
VILLAINS & WiHmore. Inc. Of cuba. wa.
| located "at Apartado l1Ij. Havana.
The spanish students wers remit !ndet
that "apartado' means post office box
Sow" ~ the governors noted tnis -
We'll. but thought that an office IN "a poe
ci.icc box =, better than ono under 'h.
nat, ans. anyway. the compa1v's state
mont slowed such substantial assets an'
good earnings u;h"tv.se ina. "F. ~. n
| va" admitted without question,
tsir weather Friends.
Whatever other -fte''s bo.rtc rc,'s " We
| d2vs ike YESTERDAY, may nave IN tn
financial District, they serve 20 rll ~,
chaira ana Idle floor spaces ~ brokers
customer roor,s with tho itr~rrnt seo,5
er. after wealth. S'ich crowdins pro
roisS gossip md gossip 'hrives hest oI
eo-cail~d inside information" and NJ
nlors. No rumov. are s.eninciv OF to-
improbable u substance to receive attcu
tlor and earnest discussion, and IN
whispered confidence into the ear Of ,h
adjoining chairholder often begets a last
ting friendship until the tire go wrong
Union rife with Rumors.
one issue which ran the ramu. ~ ~
mora was Un.un Pacldc. Every effort tina
has been heard about this stock sine
tho last meeting Of the roads director
was brought out. So the action OF N
directors AT their November meeting wa
variously forctold as follows: t'nlol
Pacific would be placed again upon
10 per cent. basis. The preser. rate o,
the common wcsild not be increased, hu
m extra dividend ~ between 2 per cent
and per cent. would he declared. Di-er
tors would Increase the present ratio an
declare n small extra OF per cent
new company would be formed 10 hol,
all ths unpledTed securities held b.
Union Pacific and the stock Of ths rey
company distributed in tho form OF
100 per cent. stock dividend, returnin
per cent, annually. white the ree,ila
rate on y. p. common would be cut (
per cent. The present ratio would n
continued on the common. hut an "ex
ira" wuold hs declared hy the distrlb,
tion Of the companys New York Ccntra
| md Ultimate Cont boId,pys