The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-08
THE LOUISVILLE AND NASHVILLE
Norfolk and Western and Chesapeake aud

The market yesterday was under n:es-
sure practically throughout the session,
and declines were general. beginning III
the Steel stocks and running throughout
the entire list, with the exception of
Sugar and a few specialties here and
there, notably the stocks OF the A1neri-
can Express Company and the United
States Express Company, the former OF
which made a gain of several points.
There were rumors Of gold exports sno
rumors later in the day that the earr:-
ings Of the United States Steel Company
would be very much smaller than had
been expected, and some of the railroad
reports for tho fourth week in December
were not encouraging.
RAILROAD EARNINGS.
Norfolk and Western for that week
showed decrease of ss2,323. and for the
month s2s,6es. Chesapeake and Ohio
showed decrease of $2s75 for that week.
louisville and Nashville showed a hand
some increase for the fourth week in
December, but that stock was very weak
yesterday, and lost about one point nst
The stock was possibly affected by the
following telegram from Louisville:
The decision Of the Supreme Court IN
the long and short haul cases will, 1t is
thought. be followed by a legal -aid on
Louisville and Nashville Several hun
dred indictments are pending. The rail-
road commission which drew up the bill
made it bitterly hostile.
STEEL AND LOCOMO FIVE.
The Steel stocks sold OF sharply. ani
Locomotive preferred, which sold the day
before as high as 81 3-s, closed yesterday
at 92 The following. with reference 10
the American. Locomotive Company, was
sent out by the New York News Bureau:
..It is reported that a representative
Of the American Locomotive Company
recently went to Cana6a and made q
proposition to large interests there to
subscribe $4,000 toward establishing 4
locomotive manufacturing plant under a
Canadian charter but which will be a
subsidiary company of the American Lo-
connective Company. on the condition that
he would secure S1,GOO,0O0 or more from
American companies. 1t Is said that
among the Canadian capitalists whom the
American representative succeeded In
interesting are Sir Rivers Wilson, chair
man Of the Grand Trunk Railway Sys-
tenn. and Charles E. L. Porteous. of Mon
treal, who is at the head of the ROSS ano
Mckenzie Railroad properties IN CANADA
American Can was somewhat weak
upon the report that the company 'vould
reduce the number OF its plants from one
hundred to about fifty. It is said the
the fruit shortage has hurt tie year S
business.
Sugar was one of the strongest stocks
on the board and made considerable
gains, part of which were lost before the
close of the trading Soss. preferred. was
more than it has been for Some time
past, and sales were made at 81 IL; the
closing bid, however, dropped down to
81 1-2.
Colorado and Southern held up fairly
well. and made little squirt just before
the close to 81 IL.
STEEL EARNINGS.
After the market closed. the directors
Of the United States met and declared the
usual dividend of 1 ga per cent. on the
| preferred and 1 per cent. on the com
| mon. The statement showed estimated
earnings for the month of December OF
$3.50. co., This was a considerable de-
crease as compared with the earnings
of previous months. and smaller than
had been expected. 1t was rumored that
the profits for the quarter ended De-
cember S1st would be over $4,000 600. The
earnings for the quarter were something
loss than sci 0G0 900.