Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-06-04
Stories of Moore Interests Sell
ing Northwestern Stock
Based On Imagination
TO REORGANIZATION
Holders of First Mortgage Bonds De-
clare Their Opposition to the Plan
fro Reorganization of the United
for Reorganization of the United
rowing Demand Urgent.

New York, June 4.-Vague stories are
going the rounds about the Moore hold
lngs or Northwestern stock, and some
profess to know that the entire hold
ings of these interests have been sold
out. These oracles know nothing about
It, and 1t can be said that a big block
OF Northwestern is still held by the
Moore interests. The variety of yarns
circulated about the Moores. with no
other hasis than fertile Imagination, is
remarkable.
Holders Of some s1,5OO,0o0 Of the s14.-
100000 first mortgage bonds of the
United States Shipbuilding Company
have declared themselves opposed to
the plan put forward for the reorgani-
cation of the company. and have put
their bonds in the hands of Gustav
Loeb. who will head the opposition of
the plan. Mr.. Loeb said yesterday that
committee would be formed to look
after the bondhoders' interests.
There has been large actual short
interest in Pennsylvania, in addition to
the technical short interest growing
out of arbitration transactions between
the stock and the subscription rights.
Ever since the formation of synd-
cate 10 underwrite the new stock is
sue 1t has been u question how the bear
party would end its campaign. Opera
lions tor the decline ceased very alb
ruptly upon the announcement that
such syndicate had been formed.
In the loan crowd after the close.
there was an urgent borrowing demand
for Pennsylvania. one broker bidding
for 5000. There was also an active
demand for Canadian Pacific. when
loaned at / u per cent. 1t was supposed
that a lot OF short Canadian Pacific had
been covered on the decline this week,
but the borrowing demand, instead of
appeared to have in
creased, much to the surprise of the
loan crowd.
Reports of railroad earnings publish
I'd today. further confirmed the opin-
ion that net earnings. now that the
period of extraordinary operating ex-
penses incident TO freight congestion |
1as passed. are likely to go on increas-
ng. The Norfolk e Western added |
s10S.5'a TO its surplus in April the
Wabash net earnings increased $780, |
i6a in the fourth week of nlay; the Ma
ional Railroad of Mexico shows an in
'rease of S193,06S In net and the on
ario & Western an Increase of $780,
SO for April.
A further sharp advance in Twin
rity Rapid Transit occurred on buying
If a va,y good character, by those who
believed that involuntary liquidation
arried the stock below its Intrinsic
'alua. 1t is reported that the traction
rowd bought $4,000 shares on the de-
line. The buying of Canadian Pacific
vas also described as good buying.
his stock advanced in London full /,
oint above New York parity before
he opening Of this market, and Lon-
on and Canadian houses We're large
uyers Ladenburg, Z. Hallman & Co,
'robt, NNeltziar & Co., knauth, Mach
d & kuhne, Content, and Wormser
cured prominently in the buying.
The relative strength of Erie stocks
Or several weeks past had attracted
avorable speculative attention to ,
hem, and when 1t began it's demon
tration yesterday, the bull party found ,
rading interest very responsive. Bro ,,
ers and specialists We're impressed :
18th the buying, and represented it to :,
e significant. Critical observers !,
bought bullish information on the =
took was too freely distributed. There :.
as hardly an Office in the street that :
ad not been advised to put its clients
ing Of Erie, especially the second pre- !,
.rred