The times. [volume] (Richmond, Va.) 1890-1903, 1902-05-09
ALL EYES ON
JOHN MITCHELL
Traders Turn Their Attention to
the Threatened Coal Strike.
coAL.RoAD STOCKS FEvERlsH
--------- i'tms,l
The Market Was Dull Most of the Day,
but the Tone Was Good, and in
Some Gases Prices
Advanced.
STOCKS FEVERISH

In the stock market yesterday all eyes
were turned on President John Mitchell
and his associates, who are to determine
whether or not there is to be any strike
of the anthracite coal miners. A meeting
of the committee was held in the early
morning. but adjourned without action.
There were rumors that the matters In
dispute would be submitted to arbitration,
and when that announcement was made
there was a rally in the coal stocks, but
the rumor was not confirmed, and the
coal stocks were more or less nervous all
day.
The strength in the London market gave
q firm opening here, and there was an ad-
vance in Southern Railway and some
other stocks. notably in Union Pacific.
Late in the afternoon tho Coaters were
again disposed to go up, and there was
brisk buying OF. Delaware and tucson son.
no news during the day Of interest, and
the market was rather dull.
BEARlSH TALK.
to take tbs bearish view. They hold that
the market is being manipulated, and that
If the support Of the strong interests were
withdrawn the market would seek q lower
level. They say that In yesterday trad
ing as soon as the manipulating buying
ceased in the general market the advances
also ceased, and the market became very
dull. This concern does not pelleVe thac
prices will go up SO. long as the money
rate is high, and sees nc probability OF
a decrease in the rate in the early future.
Rates for money yesterday ranged from
6G9 per cent, the majority OF loans pc
ing made at S per cent.
THE SEABOARD.
The New York Commercial gives an In
teresting history of the Seaboard Air Line,
in which it says:
Gas a result the system now owns 1881
miles of road, which. with the new exten,
sons now completed. will bring the total
operated mileage to 2,6l1 miles. While
considerable improvements will have to be
made to the companys roadbed before IL
is brought up to the highest state OF eco
as q. whole appears to be in excellent
shape OF the total main mileage of the
system ASIA miles are laid with steel rails
and ss.6s miles with iron rails. only oos
miles of road are laid with rails weighing
less than 90 pounds.
."There are now 227 miles Of fully bal
lasted track and 27S miles OF track fairly
balasted. The company has as much roll
ing stock per mile of road as has the
Briefly. stated it appears that for the
fiscal year ended June 3Oth, last the gross
earning of the roads were s1o,4262I9 and
the gross earnings from the water lines
$500. III. The railroads were operated for
s7,40l,0o0 or 7o9S per cent. OF gross earn n.
than will be required after the property IS
gotten into good working shape. The az
per cent. required by the conducting trans
portation is clearly excessive and should
show a large reduction for the current
| fiscal year
The surplus earned over all charges
| was s329,659. which is equal to Is per cent.
| on the preferred stock. The maintenance
statistics, while sufficient for ordinary
purposes, do not show any Improvement
or betterment expenditures OF Importance.
THAT this showing was due to the pure
| ly abnormal conditions which the COM
| pany was forced to meet while getting
| the system into shape is shown by the re-
port which the company has issued cover
| Ing the operations of the calendar year
| 1901 With an increase of $4,000 in gross
| earnings during this period. the operating
expenses show a decrease of S407 600. re-
| sulting in q surplus of sl.031.000 being
| the report This surplus is equal to nearly
| Az per cent. on the preferred stock: The
next report on the company will in all
probability show considerably in excess
of the full dividend earned on this issue
with something left for the common"