New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-13
firanfial.
The Financial World.

About this time OF year. according 70 the
Almanack Of Speculation. look out for bear
spell. Clearly, however. the time not dur.
ing the past week for the market showed great
irmness In the fac OF the De LONE incident
Considering how nervous the Street is Owe,
Cuban matters. and how often they have been
made the pretext for rading. It must be in.
ferred that big operators still ready 10 sun.
port the market in the face Of disturbing news.
which is good evidence that they are not out o.
socks yet. They are reducing their lines. how.
ever The signs of liquidation have been too
yapabIe TO be mistaken, and the market take.
spotty look at times the result OF H.
The common talk is that II II not for ths
Cuban situation prices would move right up Of
course there is always something In the way.
Prices have moved UP pretty well. and II IA
natural that operators should desire 10 convert
paper profits into cash. 1t is plain the Admin.
| istration is doing its utmost 10 prevent IN.
! Cuban business taking or aspect 70 disturb
! business. 1t is not playing the lingo card IN
| rolitics. II II wanted trouble there was enough
! lying close a. hand TO have started a row any
day since President Mckinley has been In Office.
! but. looked at purely game Of politics. Il II
apparent that the lines laid out are in the co.
/ posite direction Business prosperity Is what 4,
wanted and the whole effort Of the Admnis.
trst.on Is u avoid whatever may interfere with
Il. SO whenever anything happens which seems
to threaten to start blaze. cold water Is Judi.
ciously thrown on II by the Government
The sensation OF the week IN the market ia,
been the rise in Metropolitan stock II has goae
Up only triie OF twenty points, There was
some question about who was handling IA.
stock until one morning it opened up four points
above its closing price of the day before Then
4.
but ne makes moves like that AS Metropolitan
is paying oniy per cent, price Of 10 repre-.
sents another scrip dividend coming. There was
one Of 20 per cent paid some time ago. Tie
capital stock OF the company is S300oOO00 Tn.
programme of the manage is said 20 be %
double It. through successive scrip issues which
will finally be taken up by an issue of stock
covering all We may therefore expect to SEQ
Metropolitan stock. while this programme Is
being carried out. go through some Of the sams
sensational movements as were seen in COnsou.
dated Gas. when IL went from lG0 70 2i5 or
| Whereabouts. Mr.. Keene had the principal hard
In that. He may be depended upon 70 supply
full line OF sensations in Metropolitan so long
as there is any material 10 work upon and tho
supply seems ample for some time to come.
Sugar used to be his favorite. because Of tho
amount OF dynamite in 1t, but this stock lately
, has become quite tame; nor has any other than
| Metropolitan stock during the week shown eyi.
dence Of having that sort Of stuff In 4. TIE
| Northern Pacifcs have become quiet, and ind.
! cate realizing TO some extent. The same may
| be said Of Union Pacific. In this department. the
| notable incident was the movement in the Kan
sas Pacific consols. which some holders threw
over in fright last Monday. only to see the
price recover and go higher than before TIE
! frightened sellers thought there was another
surprise in the determination OF the Government
| TO bid for the X. p. road. but there was not
The Reorg anization Committee were not caught
this time. The thing promises 70 come OUT al
right. although the Government seems still
little elusive on the matter. About week VIII
settle the thing one way or the other. Certainly
no Reorganization Committee ever had sleh
rocky road TO travel as the Union Pacific has. II
is understandable why two committees previous
/ TO the present threw UP the job in despair.
! When the L. +. system does at last get away
from the Government. It will be recognized as
part Of the Vanderbilt system which Will then
extend from ocean 20 ocean, With practically
two divisions the central point being Chicago
| To the grandson OF the founder OF the Wander
bilt system it falls TO make this gigantic COM
| bination, as his grandfather made the conn.,
| bination OF lines between Chicago and the sea-
board That was for the time, q far greater
feat than the present combination The pubic
will watch with interest the progress OF the sys-
TEN as energised by the new head. Attention IN
the Street is most directed for the moment 70
| New York Central, which il is stated NJ VIII
| lam K is buying while he is selling his LAKE
| Shore. This point is given out with pos!uNe'
ress which proves beyond question that Nv
| W X opens his books every morning to puo.'e
! inspection. II generally supposed ne ha'
already sold his Lake Shore, the y. J. Contra!
| Company being the buyer.
In Erie matters. there is the formal announce
| nnent Of the acquisition Of the SusQuehanna
Western by the Erie The circular states that
! the accounts OF the Susquehanna company are
under examination, and IL found correct 10
shares OF Erie LIST preferred Will DC given 'of
100 susquehanna preferred. The saving clause.
"it found correct" has an oninous sound a.,er
the Equitable Ga, experience Wha, II the pur'
| chasers should consider them Incorrect There
arc possibilities here The chances are. how
ever that the deal will 50 through az proposs1
ana the runlors are that arrangements Fave
beer made by Mr. Morgan IN London 10 take
care OF SO much Of the newly created EFir s'0NA
as may come on the market. The purchase 10
probably a present burden 10 the E"s, 0"'
| necessity for the future. II needed tne s"stH'
hanna's line from, Middetovn 70 t'aeWa'e'' anu
! It's terminals there. 70 relieve lis Own ''6'~''
congesting terminals. AS a present pS9''s "
vestment the Susquehanna would % poor -
chase at the cost OF It's fixed charges ""'1" =
probably has not fully earned FOR seveFa. !ea's
But It happened TO have the property the 0'"s.
company needed and could proa;aoy use @Hu
so was able 70 make a good bargain. Sps-"'
latively. Erie first preferred ought 10 oe P'''
chase around these figures
new soft coal carrying como!na"o"
planned involving the construction Of conneC'
ing line between the Rochester P!ttsours ''e
Beech Creek. and the lake Erie and western
! rooAs co,,A ,rcrsasas activity In the stock o.