The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-02-19
Nnly a Traders Market Prevails
Unprecedented Prosperity
IN Iron and Steel.
NET EARNINGS ENORMOUS.
Carnr"i" Company Profits Almost
Equal Capital SInrk - Wall
Street Dominated hv Third
-Avcnu" Hallway Officials.

!rrrrr-r sr5,l,r~
Nv NoIh. .'h l>.-A Disappointing sr"c-
u%l.ti," week WIS brought ra 20 CLOSE "u
SATURDAY Steadily rE. Ir.'zatiou l. h.jng
f,rrr' up'r 'n. speculative. community chat
only "a ezra '"r-. matk-'" ri,yl.Is.a had.
I~.H.,--ir. .n,Ti ..r.iiti"u. % movement rha'
responds scarcely 40 all 'r "a yuluw" Of
good news as represented Coy satisfactory
,iy,. uI ''.' lr"ti'rs "u r.- Ht!v !rorsau-
iz,l Tr"r,rt;.H aud ',y,luam,uts showing
tnar the i''n and s. arl industry hr~ haF e
year Of unprecedented prosperity.
lu 90" controversy bowen N!r. CARNEGIE"
g-i li~ partner. lIr. Fr.-k. the not earnings
of IN" ':rn,gi" st..! companies Tor t."
year Just ended are shown Co o.. S-l.-.n"p
IN q st;+ ttlzttiou nt s. '-s.".'. aud ;h"
"s,iTa'" WIS made that ill.,. no.. returns
iug an" present year at Tho iT"r,gs,si prices
f"r the FLASHED! p~oiUrr would b. fully 81
E1."" WHAT more natural ~ sUppas.. than
that such revelation" following close upon
III" declaration Of "a fI'! years diyido:'! Of
: per c'n' ~ American Steel and Nir-
common and Dr. p"r cent back dividends
an Fed raj Steel common would s'imultt"
.hc prio" movement L. non and steel stocks
So II did for % day. hu- the result Of IN"
week hos hit frW mot advances and none
very important. Will" numerous declines
w.rr recorded.
Thruu-lunt ,.r week Wall stree. w.-
dominated by tho affairs of 3D.. Third Ave-
uHv Railroad Company. ~ more apt char
a,.rrizl,iun ~ a. corporation has ever h-.u
made tatn that which designated fh- com
Irary "FH" Abs ut-Mini.,4 ErI-tr.' Tiav-
ing WI. an outstanding ,alit.i 90 $iS.wrl So
Accumulate. O.. Nnat.U- dsar Il S'-,sst u1
and ,ruJal"t. IuI.Lt.Ir.-- Of S>].-,--' or
81 abs AsW -HF "a
ahir tH pay. IA" company s.ls its face
against tile not unreasonable proposition II
Kuhn. Lo,a " 20. AND % group % capital
.S'= VIII ..:,,G tp tunt The floating .i,rt.
The rIpiul" bat followed .uu. N.r appoint
ment AZ "a Creditors Protective
l. hE' the natural. outcoia, 81 the shtIty
methods pIrs"'i, not only in aa.uWUIt,rE
an" debt. rut also IN III, comItny's dealings
vi b the syndicate. TIL par, played iu IN.
matter by James K. k,"Ey Is most inter
c~tiuC.
Mr. koe.e. having acquired a consider
an" interest q" the property, created the
impression That The standard coil interest
had bought heavily Of Third Avenue stock.
This WIS don" through The clever device 81
having Frank H. turr!-~. Formerly. but 10
longer. private SECRETARY OF Mr.. John -.
!; "kcfcii"r, appointed treasurer II Jhc
Third Avenue company. TH. S-NcTtrc, ot
r latious h";w,,n Air. f;0gh'l,li.r AMI Mr..
tur'i-S not having become known. NaI
streets Inference WI- but natural that ms
presence !s Third Gvtl.r w. &, g,y-,>,u;
IN ~tanllff oil Company. such Is not the
.d~p.
What a beautiful arrangement for stock
manipulation Is created. TIE relationships
existing between NJ. Keen and NJ. CurtIs-
have beer followed by reports of STANDARD
tu buy ing. Mcfguipifan buying. j. i. Nor
san buying, al SORTS II buying of Tuir.
Avenue stock. ami tho creation Of mythical
funding Syu1i,iJ"- without number since
thu rupture with Kuhn. L.J.r a. ca. ID
AMI Gown goes tho stock. passing last week
:tiuE" through "a range oi IS points. but uuIy
making Il net change of 81. points decline.
The weekly bond statement. whit" not lIr-
i"rlnG from preliminary estimate III any
material p"lr.j, had the effect OF further
depressing the stock market at the weeks
end. Loans increased $I:.SNI.gHI. uhiCh fol
lowing upon tn" $-l.r-t'-r irrr.4s. uf she
week before ana about E.i.wrt.sy two weeks
age. naturally aroused srcH- interest.
tilo the surplus r.~-rv" dscliuo,' s. ~ :.t
figure. ANA MOI ~ continues plentiful anu
easy.
The chi"i matter VI coI-oru to the mar
kCi is whether, Uui"T "~NISti.- .,rn8M-
stances Of heavy IN. crartiie requirements,
= speculative movement CsUl! br main
tair"l in conjunction with an" Increasing
business rrtui', u4.Ut~. The strength that
exists il tho present security market rests
undoubtedly IN the Investment GsrHrJuf.nt.
tn" counter demand for bonds is reported
as excellent. and the general stock ~
Chang" bond list reflects many mote all
VaUn"s than declines. Il. contradiction -p
n. marked i~rr"Suiai o., and ~u-,punj.raut
rtces~IonS IN the list Tor stocks.