New-York tribune., 1902-08-25
THE FINANCIAL MARK ETS.
ACTIVE DEMAND FOR SIOChS
THE CONTEST FOR CONTROL OF coLo
RADIO FUEL AND IRON-MoNh1
MARKET EASY
THE WEEK IN WALL STREET

.e.k WAS one of more than usual actiV-
ST. .,s interest with respect to the securities
,,o.-Let Several happenings Of not httle lul-
rcrrsnce engaged the attention Of the street
throughout most Of the week Ihe contest i'i
control Of the Colorado Fuel ara iron COMPANY
furnished some features bordering on the senSd-
1ional The erratic movements OF the stoch III
,be local market caused a little uneaslness at
times but as il was known that a very iai *
mart of the stock was held by the principal
narties in the contest. special alarm was
felt nor is it probable that material Iosses "ei
suffered by the general public
The arrival of ]. Pierpont Morgan had peeh
.,,ai-ed with interest for some time, because
of fine in1portant deals that had been carried
- in his absence by his associates and other
,,4eras+s Doubtless some disappointment was
,e,nerienced by the highly speculative interests ;
rver the fact that an early announcement oi
his Ylans in connection with the southern Kan
v5av situation. the Reading dlVldend anu INC
coal strike assuming that he has plans resdio-
snp this important matter was not mace
trven+v-for hours after landing In TINS cuuh'iS >
THE unexpected announcement with respect io
she voting of the Southern Railway IoItp6lS
--as +be most important incident of the week,
.nd WAS freely discussed on Friday night ana
Saturday. Just what is the real purpose OF the
-;-,o, of tt,e stockholders and the action OF the
5,-actors in deferring the ordering of the diVi-
5e,d ter,porarilv is not known by the pubic
ef course the immediate object was TO continue
the voting trust, but undoubtedly II Is 10 'e
continued for a special purpose
knv considerable Of the position and future
of the Southern Railway Company shoulo III
rlrde at least glance at the record mace pS
++a --eqent MANAGEMENT. Within the last eight
Years since the reorganization. the gross earn
5nss have increased from S1l.n4,i9l TO Ho''-
z-79o4e and net earnings from S5,141,615 to
$40 ss5411 In this time, the company mas paiu
.o,t in fixed charges and dividends a total OF
e5e go $40 The preliminary annual reports OF
- -.;1roads whose fiscal year ends on June oo
-re hes,innine 10 come to hand That OF the Erie
makes q favorable exhibit The gross earnlIlss
of this road for the last fiscal year lncreaseu
nearly 100000. and the net earnings consul
ferabl,- more than that amount After paying
exe7 charges and dividends on the hrst pre-
ferred stock there was left surplus lor tiie
wear of s., ,947. .905. The weekly and monthly
7ar,orts Of earnings of the railroads continue 10
show comfortable increases For the secoiid
week of August the gross earnings OF thirty
six roads increased 671 per cent; from july u
August IA the gross earnings OF the same luiii
her of roads increased 3.3S per cent
The ,oonezy market ruled easier throughout
.be ,-aelz and unless there is an unexpected
demand from interior points for money 10 NOV
The crons prominent bankers 90 not LOOK hoi
i,nonev in the local market to rule above q per
t,an+ far some time: in fact, they believe thal
,nost IF the loans viii be made below tnal ra'e-
THE sterling exchange market attracted some
.++en+ion The decline Monday 10 10000
vas the lowest point for The season the oeclile
,ras due principally to the pressure OF ialse
amount of loan bills 4 sharp recovery Loi-
,czved and was due to heavy demand Ior va
,io,,s p,irposes which included renlttances LOT
7,axment of another instalnnent on the last issue
,,f British consois and also to cover maturing
loans et the end of the month. The recovery
was further due to the action Of dealers VINO
Rad been waiting for some rime for a oecllhe III
she market and who. upon the decline, came IN
with heavy orders. Still another cause Ter the
recovery was some liberal purchases by one OF
TWO large banking houses, which were ascrioed
,o some purpose not divulged- The advent OF
FRIDAY brought forth the important develop
,,,ent that all demands for remittance had been
satisfied, and then the market began TO recede'
(which is usual at this season Of the year The
f,,artet closed for the week with a good part OF
4he recovery lost.