The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-02-19


stock of the company is 800 OOO. 900. of
which the amount outstanding is $54 .6s5,-
600.
Metropolitan Traction led the down
ward movement. and lost 2ls points in
the first hour. Manhattan and Brook
lyn Rapid Transit were off fractionaIly,
Jur firm.
Although general interest in the fight
against the Metropolitan Street Rail-
way begun by certain interests in the
street when the reorganization of its
finances was accomplished seems to have
dropped. the speculative contingent is
keenly alive~to the outcome of the Iiti-
cation now pending against that com
pany and the Metropolitan Securities
Company. II is reported that a truce
had been effected between certain of the
ltigants and the inside interests in
Metropolitan which would result in the
litigation being dropped.
William c. Whitney has sold 10000
shares OF Metropolitan Traction to
Standard Gil people. There was a day
when the Whitney wideneT- Elkins syn
dictate owned Metropolitan
One OF the largest recent buyers OF
Amalgamated Copper is William c.
Whitney. He is credited with acquiring
O.OOe shares this week
Amalgamated Copper held firm at
fractional declines from yesterdays
closing under heavy profit taking
Strength and activity in the securities
o. the Consolidated Gas Company has in
duced gossip as TO some impending de-
velopments in the AFFAIRS OF the com
pany; but nothing either definite or spe-
Cifc has been suggested. As a matter
of fact. in certain circles in the street
Conversant with gas affairs, there has
been talk for month past of certain
changes that are being considered, but
since these plans are regarded as tenta-
tive in measure. or rather contingent
on something else being accomplished.
no hint has been conveyed by which they
could be made public.
From a source that may be consid-
ed that a readjustment of the capital ac-
count of the Consolidated Gas Company
is contemplated. but that II definite &C
tion should be taken, 1t will not be un-
til after the Legislature adjourns. The
plan suggested as likely TO be adopted is
one that it is known was considered a
year ago. but there will be many nodi-
fications.
It was said today that the readjust-
ment OF the finances of the company Will
BE- based on a value OF $500 a share for
the present stock, and that for each 100
shares OF stock the holders thereof will
receive 900 in bonds. $40. 900 in pre-
fcrred stock. and SO, 900 in common
stock of new securities to be issued.
United States Steel has ordered 900.
900 tons OF Bessemer pig from Ohio fur
naces at SIS a ton and contracted to sell
these furnaces their coke supply for the
| year at 50 a ton. The average price Of
coke in 1902 was S2-37 a ton
Directors OF the United States Steel
| Corporation have made an appropriation
/ for the erection OF an additional works
at Homestead. II will be 14O-inch mill
and will be capable OF rolling plates for
! the heaviest make. This mill will cost
/ $500. O0O The Steel Corporation has also
made an appropriation for the erection
/ of new blast furnace at the Ohio works
OF the National Steel Company, at
Youngstown; it will cost $500 900.
! Lackawanna Steel Company has a ca
pacity Of 1000. 900 tons annually. and
this will be increased when the new cap
/ itaI is put out.
The Tennessee Coal and Iron Com
pany will begin the business OF making
steel rails regularly and will roll 10 900
tons per month.
The railroads are actually fighting for
locomotives. That fact is helping the
shares OF American Locomotive
! Rockefeller and his friends own 800
600 shares Of Leather. It is believed
! they bought a large part of the $50. 900
shares sold during the past ten days.
A Chicago dispatch says John w
Gates Will retire from active business
within two years. His retirement is not
/ expected to interfere in any way with
| Harris. Gates & Co.
| A meeting OF the Stock Exchange will
| be held tomorrow 10 nominate candI-
dates for president, secretary and treas
urer. chairman and vice chairman and
for members OF the governing commit
tee. to be voted Cor at the annual cleo
tion March ?.
REAL ESTATE TRANSFERS.