The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-03-10
FIN4NCE IND COMMERC or
CURRENT NEWS AND GOSSIP
OF INTEREST TO INVESTORS

ihls morning was the bidding up Of
/ Souther Pacific. in which movement the
room traders took part It's sharp rally
OF point and the strength in the Cop
per stocks. together with the support
IN the specialties. notably in Manhattan
and the Goulds, induced general further
covering OF shorts and buving by trad
ers, but since the subtreasury's state
ment has become known there has been
general reselling and the market is
slumping under it.
There is no probability of any rclaxa-
tlon in the money market. but rather 20
me contrary, and as this is the govern
ing factor, further declines are looked
for.
When the assertion was first made.
unofhcially OF course. chat the Rock
Island had purchased control Of Frisco.
II was said also that Atchison was a
party in a general scheme involving IN
offensive and defensive alliance with
the greater Rock Island. Coming down
10 details IL was said an interchange Of
directors between Rock Island and Atch-
ison would be effected on or before
March 16. That is less than a week
away. and those who first authorized
these statements say only the unexpect-
ed happening can prevent their accom-
plishment on time. When every detail
down to the very smallest has been
cleared up the official announcement will
be forthcoming.
Those who imagine that all the good
news on Erie, possibly for years TO come.
has been exploited in the bond issue an
nOuncement may learn differently within
two or three months. Definite state
ments on this point bearing the stamp
Of authority need not be expected. but
unofficial assertions are sometimes very
close 10 the truth. Primarily the bet
terments that can be expected under
the bond issue are what Erie needs !
most; but it is believed certain alli- |
ances viii soon be perfected which will (
find ample reflection eventually in in 4
creased earnings. Nothing more than I
vague hints are yet obtainable. but they !
come from such a good source that they ]
receive serious consideration. During /
the next two years Erie will be reor-
genized physically I'm such a way that il /,
leaders as one of the great trunk lines
Of the country.
stockholders Of the Iron Mountain to-
day VIII formally ratify the action Of /
the directors in authorizing an issue OF /
$4,000. 600 in bonds. OF this total $40 /
100000 has been appropriated and the /
specific purposes for which it will be 4
used have been designated But nothing |
has been said as to the purpose to which /
the remaining $50 GOO 900 will be devoted.
IN view Of the fact that the Iron Noun 1
tain is credited with the intention of .
purchasing control OF the Wabash. many
profess to see in this $50. O0O. OO0 the
whereWith TO accomplish it.
Higher prices for copper are freely
predicted and incidentally higher prices
for Copper stocks. Bullish enthusiasm
on Amalgamated seems TO have suffered I.
no diminution by the recent breaks in
the general market and the sentiment
OF Boston seems 20 have found refec-
tion here The fact that the price OF
copper has made such substantial ad-
vances has been prime bull card. Then
again the rumors OF an increase in the
dividend on Amalgamated Copper has
materially helped and there has been
just little artificial stimulation in the
way Of the operations OF a bull pool in
the stock There are some very fervent
hopes expressed that il has not been
over-stimulated. lest perhaps there
might be a reaction. 1t is a significant
sign. however. that the ultra pessimistic
ones. who held up Copper as a horrible
example. admit that there has been
change for the better.