The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-05-15
Present Financial Showing Is Fol-
lowed by Il Sharp Break
In the Stock.
PROFITS UNDER EXPECTATIONS.
Treasurer and Some Directors Go
Out, and Their Action Causes
Speculation Among Fl
uanCiere.
REPEHLIC SpEfTAL

| REPUBLIC SPECIAL.
New York May l4.-There was 4 repor
/ current IN Wall street this afternoon tina
| the STOCK uckers had been removed fruT.
| the Offices Of tn. American Tobacco Com
| pdny az Fifth avenue and Eighteenth street
TINS was accepted in some quarters Il
| evidence that the company has decided Il
! Gu: loose from Wall street.
| This bulletin. sent out through the loca
| bur Az of The Associated Press makes sar-
| caste, though vag.r, reference to the re-
| tlrcmeut from th.. Tobacco Trust of Treas.
urcr Areuts and Directors Colonel o II.
Payr" and H. l. Terrell. The retirement OF
these gentlemen has been followed by :,
sharp break in the stock Of the trust which
| however. is unassoc!a'ed with persOnaii-
ties.
The brief aunua! statement OF the com
rauy, showing it, condition at the close OF
business on December 81 last, is sufficient
explanation of the decline Of the stock As
compared with the previous year. It showed
an increase of SS2,-).,io in the outstanding
capital stock. and an increase OF $2i5cGa IN
net earnings. The retirement Of Mr.. Arents
crptcd as an indication that they are ia
tisUcti and declined Reelection.
oi the new stock issued during the wear
s2l .cppp was given as 4 scrip dividend Of
lau par cent to the common shareholders.
thus doubling the stock. as was done wi;h
the defuuCt CoTdage Trust. OF the remain
der. Sl-.,1~o'o WIS issued to buy up the
Union Tobacco Company started in oppo-
yit!0n by Thomas F. Ryan and his ass1ci-
ates known as the ''PailaIclphia Traction
people
The American Tobacco Company simply
took over the asset Is Of the Union Tobacco
Company and wiped It ont OF existence
The authorized Increase IN the capital of
the trs!st WAS S;.Jg0.o'D. So ;lat 81 500 t.O re-
;nain"d after these Gi-lIUr- .mcntS. During
the year, however. the trust retired S559.5lJ
"f the scrip issued az dividend to stock
holders four years ago and oi which SlG1.-
90 stil remains outstanding on which
per cent is paid.
1t was in March Of last year that the is
sue OF this additional $iarI.rlv was author
DIVIDENDS were paid upon the Increased
am JUnt during the wear. y surplus OF 81
Vj."" is cliimrI by th- trust for the year.
hUE tn" fO.Tth quarterly dividend would
nav reduced this amount by S;oJ.910.
FIVE years ago the capital pf the Tobacco
Trust was S"0"oo0o Now Il Is $es. -ts!.0.jo.
In the meantime the trust bought a number
u pug plants. including the Liggstt x
Myers plant in s.. Louis. and capitalized
tia Wh"3e AT S,o.Vt17D. under he title II
the Continental Tobacco Company. Then
TWO months ago the trust iaun he'd the
american Snuff Company. with C2pI;.lli-
cation OF S-5r.V.oN. Thus the capitalization
the three companies is now ;lIt, JH5grl.
being greater taau the entire capitalization
of the Ere railway.
TEc h,t result uf these tTansa ,:ions Is
ShDwI. IN the fact that the earnings Of h
rOmVI0. for the year-8et earnings Were
bC. S5.e12.Gl'. a. against &l."'h."J net shown
in the statement presented to the stock
Exchange fye years aga. when the shares
o. the American T,haeco Company wera
list.d. The last n&ms sum represented
IA" earnings for ISa5. following the panic.
while tnuse 70" last year We're made IN tha
act business period the country has ever
known.
TI.Se facts sufficiently explain the sag
gin: t,UgrJCy e Toitoro Trust st-ck wiz
Jt taking into consideration the corSt ut |
rr.aufzafion ot rival cu.aIG-irs. As :o- in |
S..nrs IN. WctEoTc plant IN II. Louis. NH !
an iu..r,"-d,at concern IN Eecroi;. TLsr |
I'sp ,EJ iIiu th" re'iT we"t O. Colonel |
rayr" ard Mr.. Terrell from the Gire-. .,ic |