The Washington times., 1901-12-02
TIE Increase in II. d o. sfocL.


yania, it is understood, is permitted 10
direct the management
TIE Increase in II. ~ o. Stock.
The proposition to increase Baltimore
and Ohio common stock has caused a
rather sharp decline in the stock. There
are now outstanding $4S. .527 600 Of common
stock. $50 ,227 600 of preferred. and Si2,-
143, GEO Of convertible debcnturt as. Ii
the FER cent debeHtures are onyerted
at once into common stock the 4nares SO
procured VIII have subscription rights to
the new stock. Ii they are all converted
the issue Of common stock would be $6g,-
G70,000 and the common and preferred
combined would amount TO S1l9, ,s97, 600.
Subscription rights of 20 per ceut of this
total would amount to So, ,g79. .400, which
would swell the total issue OF common
stock TO $S4. .G49 400, instead OF the siS 527,-
COO low outstanding.
To maintain the per cent dividend on
the increased issue VIII require but $685.
I76 per year additional, as the debenturcs
are now drawing the same rate. Tire
Pennsylvania Railroad Company gfIl be
entitled to purchase at least 81, 600 900 of
the new stock, ana probably much more
as ii is believed its present holdings of
Baltimore and Ohio stock far exceed the
10000 shares set DOWN ia the last annual
report.
The Demand for Railway Equipment
The receipt by the American Locomotive
Company Of an order from the Pennsyl-
vania Railroad for fifty locomotives. is of
great Importance to holders Of American
Locomotive stock, as IT shows that the de-
mand for locomotives is so great al the
present time that a great system like the
pennsylvania is compelled to place its or
ders outside Of the concerns which have
heretofore manufactured its locomotives
At the Altoona shops Of the Pennsylvania
Railroad most of the engines now In use
by the company have been constructed
When the capacity of these shops proved
smaller than the requirements, the surplus
has heretofore been given to the Baldwin
works of Philadelphia
The demand for railway equipment of all
kinds is exceptionally large at the present
time. An incident which occurred last
week shows how urgent the call Is for
locomotives. The Chicago Indiana polls
and LOUISVILLE management decided to or
der ten locomotives. and the president of
the company came TO New York to attend
to the giving out of the contract, in addi-
tion to placing other orders for freight
and passenger cars. The entire number
OF locomotives were ordered from the
American Locomotive Company but only
one can be delivered within ninety days
ana the order cannot be completed until
December OF next year. The runor which
was sent broadcast that the syndicate in
terested in American Locomotive stock
had disbanded was absolutely denied yes
terday by insiders in the company. who
claim that they are holding the preferred
stock as a permanent dividend paying Sc
curity. and are inclined to Increase the
holdings of the common, because of it's
great possibilities and the present excep-
tionaily large business.
Property of the Railways.
The following interesting summary of
railroad earnings prepared by the New
York News Bureau. is a striking ilIustra-
ton OF the prosperity which the railroads