The times. [volume] (Washington [D.C.]) 1897-1901, 1901-02-11

NEW YORK, Feb. 10.-There is as yet
no definite statement to be obtained as
to the real purposes of Mr.. Morgan and
his allies as to the shape which the pro-
posed great steel deal will take. There
seems to be little doubt that Mr.. Carnegie
has sold an option at least on sufficient
number of shares in the Carnegie Com
pany to give the syndicate, which will be
known as the community of interest,"
control of that property. Mr.. Carnegie has
for several years been willing TO retire
from active participation in the manage
ment of his company, though his unfor-
tunate breach with Mr.. Prick has delayed
what otherwise might have been harin0-
niously arranged several months ago.
Those who will control the steel IN
dustry have a very high appreciation of
Mr.. Tricks ability, and while they lily
deplore the strained relations which exist
between the two majority interests in the
Carnegie Company and which, unfortu-
nately. extend to some of the junior part
ners, the general belief is that when The
undertaking is consummated MIR. Frick
will succeed Mr.. Carnegie in the direction
of the affairs of the great property. II
there is a possibility of any hitch N the
negotiations at present, il is because this
fact is known to Mr.. Carnegie, who may
be anxious that his mantle shall fall on
the shoulders of some one of the younger
partners .Tho have taken sides with him
in the controversy and are still persons
ally loyal to him.
The outlook for the steel securities gen.
orally this week is that they will be buoy
ant An announcement regarding the deal
is likely at any time.
The stocks which have attracted most
attention during the week after the steel
group and which show most promise are
the group of low-priced securities IN
which the Goulds are interested. The
community of ownership idea is being
rapidly developed in the Middle West, and
there is little doubt in the minds of these
who are familiar with the situation that
q powerful combination is being formed
by the Goulds and the Rockefellers which
has in view the welding together into one
great system of the Missouri Pacific, Chi
cago and Alton, Missouri, Kansas and
Texas, st. Louis and Southwestern, Chi
cago and Eastern illinois, Wabash, and
Wheeling and Lake Erie.
The latter roads thread most prosper
Gus section OF the lake region and will De
valuable as contributory roads to the big
trunk lines Both are showing the results
Wabash earnings have increased since
July ], as compared with the previous
year, from s9,963,679 to $l0,622, 1876, while
Wheeling and Lake Fries increase has
been from 81, 553. 279 to 81, 7S3. 1888. Fer the
first time during all this great bull move
ment, which has been directed principally
TO the development of the low price
stocks. the securities of these two roads
have received some public attention. Both
the Gould and Rockefeller brokers have
been heavy buyers of them during the
week, and Wall Streets theory is that
they will receive benefits from the pro-
posed combination.
It is said that number OF the most i'm
portant professional traders are arrayed
with the promoters of the gigantic railway
and industrial combinations on the bull
side OF the msrltei and that these people,
both principal and market assistants in
tend to continue the campaign for higher
prices. The past week has seen one of the
reactionary periods in the boom while
stocks have been digested and smaller in
tersts have taken their profits. Sore Of
the most important brokers and traders
look for a resumption of the advance this
week The steel securities may lead this
boom, but there are numerous railway
groups that are likely to participate.