The Birmingham age-herald., 1917-10-03
STOCK GOSSIP

H. w.. & Colt is more than likely that some tired holders have seen fit to unload their holdings.
 Jenks, Gwynne & Co-Deaiings still are very professional and the market as aa whole shows no indications of emerging as yet from the more or less irregular and narrow fluctuating stage
 Hutton-New Haven is out with let ter in regard to the preferred stock It would be a good plan if it would go through which we doubt. Money pool has been formed to stabilize rails.
 ashington-Increased rates in car load lots from southern producing points to various New England destinations were ordered deferred by interstate commerce commission today until May l, 191S.-- Ticker.
 Continued long selling in St. Paul. We think is likely to be further decline in preferred stock. Concentrated buying in Distillers and Can As long as violent railrad liquidation continues, we don't look for much recovery in stock market. Hutton.
 Rumor on the floor of a big allied vic- tory.-Bache.
 Hutton's Stock Letter
 Gilt edged railroad shares have had violent declines on very limited offering of stock. Under ordinary conditions the amount of Baltimore and Ohio and New York Central that was sold today would not have had any great effect on the price, St. Paul made new low at 50, and the preferred at 95A with not much rally. Steel looks to be supported whenever 1t is heavy. There is no concentrated buy ing in Distilers. The announcement that the money market would be stabilized simply confirms what was believed be- fore. This does not mean easy money, IlI1f hal Ia foaf oa1,t rata n1.o a there. There is a great deal of bull talk on Crucible, on the belief that they are earning an enormous amount of money There have been 8 good many bull tips on Can, but it has not been the kind Of a market to put anything up. A big block of Marine Q0,000 shares) was sold today. but the stock was we'll taken. It is gen. erally believed that the selling of rail- roads is closing out collateral held for foreign loans When you can buy divi- dend paying railroads at the price at which they are selling and with long records behind them we doubt very much if New Haven stock could be placed.
 Miami Copper declared usual quarterly dividend of $150 dates November 15 and November 1. Three months ago an ex- tra dividend of $1 share was declared.
 Food administrator Garfield prohibits shipment of coal in Canada from lake ports, object being to divert shipments from great lakes to northwestern states. House accepts conference report on war revenue bill without dissenting vote. Measure now goes to Senate.
 New York city subscribes $25,OO0,000 Of the $90O, OO,0O0 allotment to liberty loan. z Reports from all sections encouraging and big over subscription predicted.
 Average 20 industrials. 1.3S off 1.23; 20 rails, S5.6 off, 69.-Dow Jones.
 For every dollar paid to the Southern Railway company by the people in the south during August, 1917, the Southern railway paid out in the south $1.2S, ac- cording to figures announced by Comp troller A. H. Plant.
 The Southern Railway company dis bursed during the month, for labor ma : terial, supplies and other purposes, $S. 402, : 015 of which $7041,9i1 or SS1S per cent was paid to individuals and industries To- cated in the south, this sum being $1,544,- 371 in excess of the total moneys con tributed by the south for transportation purposes.
 For improvements to its roadway and structures, the Southern spent $l5OI647.91 in August, 1917, as against $l, l,17S,0O6.97 dur ing August, 1916; during the two months ended August 31 $3,001, SSS.97, as against $2 163, 249. 35 in 1916.
 Results of operation, exclusive or m terest, rentals and other income charges, were as follows:
 Gross revenue, August, 1917, s7,s53, CPS. an increase as compared with 1916, or S1 35691S or 20.S9 per cent.
 Operating expenses, taxes and uncol- lectable railway revenue, August, 1917, s5 79s 200. an increase as compared with 1916 of s1,244692, or 27.35 per cent.
 Cross revenue for the two months period, s15, 12S, ,22O an increase as com pared with 1916 of s, 145,oS5, or 2625 per cent.
 Operating expenses. taxes and uncollec- tibie railway revenue, $ll, ,lS3,6o9, an iH- nrea se of S2 432 45S. or PESO per cent.