The Minneapolis journal., 1902-07-14
WONT BE HELD Up
Rock Islands Plans Regarding
Des Moines & Fort Dodge.
DIVIDENDS WILL NOT GO UP
Milwaukee Directors Opposed to Ad-
vance-May Have to Build
r'-~'i5 to the Coast. q .s.'

Semi -cfflcial interviews from men high
In the councils of the Rock Island system
say that the Rock Island does not pur-
pose to be. held up by the recent pur-
chasers of the Des Moines & Fort Dodge
road, the Rock Islands lease of which
runs for two or three years more: Rock
island officials say that when the time
comes they will make the new controlling
element in the road proposition and II 1t
IS not accepted the road will seek new
route for its northwestern Iowa branches
into Des Moines.
Since the majority of the stock of the
Des Moines & Fort Dodge was purchased
by New York men there has been much
talk as to what the new owners intended
to make the Rock Island do before secur-
ing another lease. The Rock Island Of
hcials say they hold the whip hand. They
say they knew of the effort to secure con-
troll of the Des Moines & Fort Dodge,
while 1t was in progress but did not con-
slider tt a good financial proposition to
fight in the open market. They propose
to build a connection for their Gowrie
branch into Des Moines if the Des Moines
& Fort Dodge owners are obstinate. 1t
is said that the Minneapolis & St. Louis,
which uses the Des Moines & Fort Dodge
rs q connection into the Iowa capital, has
no intention OF taking the road over in
case the Rock Island loses it.
No increase in Dividends. -
Stockholders Of the Chicago, Milwaukee
d St. Paul who have been expecting an in
crease in the dividend rate at the annual
meeting will probably be disappointed, &C
cerding to reports from Chicago and the
east. 1t is said that many of the di
rectors have privately declared against an
increase from 6 to Z per cent. 1t is rep
resented that the management fears this
ha nf
Qal prosperity and cause demands for low
er rates from the public and higher wages
form its employees. Unless the Milwaukee
can secure satisfactory traffic arrange
aents with the transcontinental roads the
directors realize that it will be necessary
90 extend to the coast and they desire to
have their surplus large enough to enable
them to finance the extension at the low
est possible cost.
What Are the Moores Doings
There is much skepticism in railroad
and financial circles over the reports
crediting the Moeres, of the Rock Island
Gates, and other western capitalists, with
acquiring powerful influence in various
western systems.- The Moores have been
credited with adding to their holdings OF
North Western stock and getting in po-
sftion to control that system at the next
annual meeting. The opinion is growing
however, that the Moores and their allies
will be willing to unload some Of thei1
Northwestern and other holdings il
they can turn their paper profits into
cash.
"A committee representing the striking
nlachinists on the Iowa Central is in the
city to-day comforting with General Super
intendent Sweeney. In the epidemic ot
small strikes the Iowa Central gets this
as It's quota. The management has of
fered as schedule Of wages, the average
paid by all Of the northwestern roads, but
this was rejected by the men.
advances in insurance rates have given
the railroad managers much concern. Or
some classes Of railroad property rates
Aave nearly doubled. On this basis 1t is
likely that several millions OF insurance
will be allowed to lapse. Railroads are
giving much attention to plans for carry
Ing part of their own insurance.