The times. [volume] (Richmond, Va.) 1890-1903, 1902-03-27
THE EFFECT o. THE HOLIDAY.

I
Accounts and Await Developments.
Railroad, Earnings
Good.
There is very little to be said about
yesterdays market. 1t was very dull from
| beginning to end, and little interest WINS
| manifested in any stocks Colorado Fuel
and Iron was perhaps the most active
stock on the list and made substantial
orally neglected.
| american Can was more active anfa
prices were better, the common gaining
one point and the preferred about two
points on the days transactions. The
following with reference to the affairs
q the company was sent out from
Chicago:
Developments Of the past week in at
fairs OF the American Can Company do
not Indicate any. immediate merger with
the United States Steel Corporation. The
new rolling machine. invented by Ed
ward Norton, Will revolutionize the tin
plate industry and give the company an
advantage in the manufacture of cans
that will place 1t far beyond the pros
poets Of competitors. Ii the invention
accomplishes all that is claimed for it, it
pCration, which is burdened with a heavy
capitalization. The machine takes the
steel bloom and through & continuous
passes it through the tin composition. In
short, it makes tin-plates ready for use
from the bloom.
cally admit that the haywood plant is
to be enlarged by the erection of q; big
mill for the rolling of the tin.plate. The
oshy a a tqe found Of te
Moore Brothers, made when the United
States Steel Corporation refused to take
over the Can Company, that it would
make Its. own plates and not depend on
the American Tin-Plate Company, is very
liable to be carried into effect. II the
machine is all that it is claimed to bora
practical demonstration OF its use would
do much towards forcing tho steel COM
80 : 'a1 THE I; RA slf ROADS
In the railroad list no stock was dealt
in to any great extent. The Colorado and
Southern issues wero largely neglected.
a Richmond broker, who Is now in New
York, sent the following telegram to his
house:
Colorado and Southern earnings are
fine. First two weeks In March show in
receive fifteen new locomotives. which
should give them further increases. I
believe the second preferred around 50
is q buy"
The preferred stock was selling yester-
day at from 20 to d01s. and the second pre-
transaction in seaboard IS at 1oi-
Tho gross earnings Of the Atchison road
for February increased $lSi.50I; the net
earnings increased SIS, $50; Louisville and
in March, sl4,315; Chesapeake and Ohio
increased s3S,OS1; Chicago Great Western.
s2o,eo7: Chicago and Eastern Illinois. 1850.
quarterly dividends of per cent. on the
pereferred and per cent. on the common.
This is an increase OF !. per cent. on the
common.
In the absence of anv definite news
with the threat of a great strike hanging
over the market, and in view OF the holt
day. from the close of to-day's market
until Monday, it is not surprising that
trading is dull. However. the undertone
of the market continues to- be strong.
Money remains practically unchanged at
an average of about Az per cent The
49, AN INTEREsriNG REPORT.
The New York Journal of Commerce
THE first definite explanation of the
Of the Colorado and Southern Railway
representative of this journal obtained an
authoritative statement that Edwin
HawIey and his associates had secured
q controlling interest in the property
chaSes Of stock in the open market. 1t
was further learned that John w. Gates
and his immediate associates. whose
names have recently been connected with
the movement in Colorado and Southern
stocks. have no interest in the control
Of the property.
Mr.. Hawley is now president Of the
Minneapolis and ST. Louis Railroad Com
pany and the Iowa Central. He was for
many months assistant general traffic
manage OF the Southern Pacific system
but resigned that position only a few
weeks ago in order to devote his entire
time to the Minneapolis and St Louis
and other systems in which he is heavily
interested. The entrance of Mr. HaWley
and his associates into the management
Of the Minneapolis and st. Louis has been
followed by a RAJ id development and im-
provement OF that property, the results
of which are already being shown. The
dividend on the common stock, for in
stance, was increased in January last to
21s per cent, this being at the rate of
per cent. per annum, against 4 per cent
in 1901. 11a per cent. in 1900 and nothing
in previous years The earnings of the
company have shown steady increase.
1T is believed that Mr.. HawIey intends
to operate and develop the Colorado and
Southern along the same lines that the
N1innea polls and st. Louis has been
handled OF course, the possibility OF
some Of the large Southwestern systems
making a bid for the Colorado and South
ern is to be considered, but at the present
time it is understood that the new own
ers Of the property are acting for them.
selves and not for any other interest