The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-25

and some of the lighting concerns are to
be consolidated was again heard in the
street yesterday and il was perhaps be-
cause of it that the traction securities
were all huoyant 1t is said that officers
! OF the various companies have been talking
Of the plan for some time. and that ii has
gone so far now as TO have been referred
to a committee TO work out the details.
Metropolitan Traction advanced 10 l6S 5-S
from l66. and the close was at l6S IL.
Brooklyn Rapid Transit advanced to ~ Ia
and closed at II L. Manhattan advanced
to "a is and closed at a. Leaving out
the consolidation story as not proven, the
movements OF the traction securities re-
Gently have been such as to cause many
careful people to expect an advance in
them in the near future. Another story
yesterday Vas to the effect that the rapid
transit tunnel will never be built. Capt.
talists do not seem TO wish 10 invest in
the scheme.
The bes; news Of the day was the report
of the st. Paul's gross earnings for the
third week Of January. The showing is the
best ever made by the company Tor the
period. The gain for the week was SSg 2a2,
and the increase since July was S2.3S4 300.
Friends of the granger group suggest that
one that the bears have been predicting so
confidently for a month or more. The
grangers all Opened at advanced prices
yesterday, as a result Of London buying.
and some OF the group made fractional fur
ther gains .durng the day.
Two stories regarding the Chicago and
Northwestern Union Pacific deal We're
! current in the street yesterday. One as
]
mated and that an official announcement
| will be made 10 that effect in a short
time The other quoted Mr.. Depew, who
is director OF both companies, as say
ing that no consolidation is on hand or
has even been considered. The securities
of both companies were quiet all day,
and the street seemed inclined TO take
MIR. Depew's view of the situation for the
present al least. In this connection, how
ever ii is well carefully to bear in mind
that the big railway companies and their
capitalists are now getting together in
very effective way without the formality
OF consultations. consolidation car
ries with it the possibility of being called
a trust. On the other hand, it seems TO
be the opinion OF many important rail-
way people that it is not wrong for cap
italists TO hold controlling blocks Of stock
in different companies. There is the best
of reason for believing that not only are
all the railways east of the Mississippi
controlled BY a few men with complete
harmony Of idea, but that the great West
ern systems as well are under their DOM
ination. This fact will be known beyond
question before many months have passed.
if members of the syndicate themselves
may be believed. The election OF ID. o.
Mills to the New York Central directorate
took place yesterday.
The dividend rate on Panhandle pre-
ferred has been advanced TO 4 per cent
from the 3 per cent rate of last year.
The statement is made that the common
stock is entitled to no dividend until the
preferred stock has received full years
disbursement al this rate, and 1t seems
certain that the common will get moth
ing for twelve months at least unless
the Pennsylvania people lose in their suit
with the minority stockholders. The rep
resentatives Of the minority holders per
sist in their assertions that their claim
is a perfect one, and that it must win.
Louisville and Nashville opened up full
point yesterday morning as d result Of good
buying for London account, and it made a
small further gain during the day, closing
at so 3-S. The stock is very well thought
of by conservative investors. and in a
buoyant market would undoubtedly ad-
vance rapidly to a considerably higher
level. The earnings OF the company con-
tinue TO increase week by week with GER
tainty and a regularity unequaled by any
other system.