The Washington herald., 1916-01-30
LITTLE DEMAND
+ CAUSE LOSSES
Vail Street Market Closes
Weak and Around the
Lowest Prices.
OPENING Is IRREGULAR
serman Stockholders Want to Dis
pose of Holdings but Cannot Be-
cause of No Mail Service.

New York. Jan. s.-The weak over
Extended speculative account again re-
ksnerted itself In the stock market to-
1ay, and declines ranging from one &c
I've points ensued- The maximum losses
bere scored in such specialties as Cuban
american Sugar. United States Industrial
klcohoi and Texas Company. The close
was weak and around the low prices.
Conservative brokers declared today
hat the offerings had a deeper founda-
lion than the mere selling by profes-
kional shorts. One broker said the grow
nx agitation for increased taxation
kGainst the wealthy Is causing many
wealthy men to dispose OF their holdings
" American railroad stocks. This, In
kddltion to the steady foreign selling. ac-
kounts for the pronounced weakness OF
The rails.
| The market opened irregular, with
mau fractional losses sad gains dis
&ribufed throughout the list. Brokers re-
borted very little demand for shares, so
kbat offerings caused further recessions
h the lowest for this movement. Toward
khe end of the first hour there was a
hight rally, due to buying by shorts, but
3his was followed by another weak SPELL
bn which the lowest prices for this move
inent were established New Haven was
bns of the softest spots, on persistent
reports that the company was consider
|ux the Issuance of from So. 10000 to So
5s.oo Of preferred stock, which would
naturally have priority as to dividends
bver the present shares This induced
keIiing OF the shares in increased volume,
Ind resulted in a decline OF about two
points, part Of which was recovered be-
tore the end Of the session
Why Germans Do Not Sell.
severrs brokers informed the writer to-
|aay that foreign selling Of American
kecurities would be increased by offer
|fxs from Germany were it not for the
RESTRICTIONS placed by Great Britain on
&he mails
| Fhe writer is informed that one firm
kith German Affiliations had been trying
Tor some ttTne to sell 300 shares Of Penn
kyiysnia. the certificates for which are in
Berlin. This firm recently disposed of
t.ess shares of Pennsylvania, but, being
klnabIe to deliver the certificates until the
RESTRICTIONS on the mails are removed, It
bad to put up other shares with the
brokers as collateral As the firm has
no more stocks 10 put up as collateral
h gainst the sale OF the 5000 shares of
IPennsylvania, and as it cannot deliver
the certificates, it Is unable to hquidate
ahem.
| Hetty Green is now mentioned in Wall
|street as among the wealthy persons
3who recently took part of the s25, 900. .O0o
INew York State bonds from the First
National Bank. which put in the highest
I-an or none" bid.
The writer learns that certain Wall
street bankers are trying to place 500. .OOl
Iof World Film bonds at IS. The bonds
are convertible into World Film stock
lat 2l-4
Railroad earnings statements continued
|Sery favorable. large increases being re-
|lportcd for December by the ST. Paul
Philadelphia and Reading, Wabash, and
canadian Northern. President Hanna,
|ford. Of the Northern Pacific, says the
January statement for that road will be
the best for any similar month in the
history Of the company.