The Washington times., 1901-12-06
The january Disbursements.

The January disbursements will be the
largest on record by many millions Of dol
lars. great many stocks have been put
on the dividend list during the past year
and many others have had their dividends
Increased. The creation Of new stock and
| BOND issues has been large also. The
| holders Of a large part Of these issues,
new and old, are very important people
with Investments running up into the tens
| and hundreds OF millions. These people
| fsill be forced 10 buy stocks. They always
| do It Is the smaller people that there is
| any doubt about. These people, II is said
are very certain to have been fayorably
affected by the optimism OF the Presi-
! dents message.
Manhattan and New York Central.
| There were many runners yesterday, but
not much actual news that could be con-
| frmed as fact. TEe recent persistent
/ talk Of q prospective alliance between the
| New York Central and the Manhattan has
some foundation al least. There has been
/ discussion Of union station for the two
| systems at Mott Haven, and, although it
| is said that there has been no positive
/ action as TO this as yet, it has been de-
cided already that there shall be recipro-
! cal use of trackage to a certain extent.
| Whether these developments mean In
reality that the relations between the two
| systems are much closer than they appear
| on the surface, the street may decide for
/ itself 1t is certain that the recent ad
vance of Manhattan has been quite large
enough if not too large, If here is not
some alliance between the companies. The
earnings Of the Manhattan are large and
/ increasing and an increase OF the divi-
! able but all Of this would seem to be dis
counted and more by the advance Of the
/ stock to l45.
President Carsatt Denies.
President Cassatt yesterday positively
denied that the Pennsylvania has secured
! control Of the Rock Island or that friends
of the company have been buying the
/ stock for the purpose Of securing control.
I The story might be allowed to die now. 1t
/ has served for a long time. The boom in
I Rock Island was remarkable yesterday
morning, but there is every reason 10
I suppose that it was the result of mantpu-
/ lation entirely. This of course, does not
necessarily mean that there is no legi-
I innate basis for optimi5n regarding the
/ stock. The October statement of earnings
| published the other day was an excellent
! one.
| 4 General Electric scrip Dividend.
General Electric was advanced several
| points to the highest price on record. II
was said again that there is to be large
scrip dividend in the near future. The
earnings OF the company continue amor
nous.
The earnings OF the Southern lines gem
orally for the last week OF November
| were published yesterday. The showing
was good in all cases, but especially in
that of the Louisville The report OF the
| Louisville is more than usually crafty
ing because of the rather poor report of
| net earnings for October, issued the other
day. The gross earnings OF the system
| for the week increased S101 1913. The
| Southern securities were strong in the
morning hours, but had some recession
before the close with the general mar
| ket
The Iron and steel Market.
The Iron Age" says that confidence in
the future of the iron market is unabated.
Orders for foundry products are booked
for four and six months ahead. There
is an increase in the supply of pig iron
on hand, but this is only on account of
| the car famine. the West Is sending in
very heavy orders for rails All this
should be good argument for the Unit
ed States Steel securities. Some of the
best OF the brokers advising their
customers TO buy these stocks at present
in preference 10 some Of the railway Sc
curities that have had sharp advances re-
Gently.
Pittsbura Buying the Wnbmshes.
The Gould securities generally we're es-
pecially strong yesterday. II was said
that Frank Gould and his friends were
largely responsible for this. but 1t is