The Washington times., 1903-02-25
FINANCE and COMMERCE..
CURRENT NEWS AND GOSSIP
AFFECTING SECURITIES

AFFEC'
The general market at opening was
comparatively dull. II opened on a
parity with London quotations as gen.
eral rule.
Renewed rumors that the Aldrich bin
was slated for certain passage by the
Senate today frightened the shorts
early. and they fastened TO cover with
resultant Improvement in trading and
prices.
Wall Street looks to the passage of
the Aldrich bill as necessary to stimu-
late confidence and prevent the market
running into weakness.
Traders seem more inclined 10 await
news from Washington and the Aldrich
bill. They want good news from this
direction before they Will buy or add TO
holdings because there is already evil
dence of another poor bank statement
this week.
Banks have already lost $3.50 600 in
cash through subtreasury operations
since last Friday. Banks lost yester-
day to Chicago over 100000
London cables report much better
feeling there today over the elimination
OF the Macedonia troubles as a disturb
ing element in European politics.
London market for Americans was ir-
regular and little changed from yes
terday's closing.
There is evidently a clique bent on
smashing metropolitan Denials Of the
rumors of legal Irregularities appear TO
have had but a momentary strengthen
ing effect. when the stock continued TO
recede. Is there not something rotten
in Denmark? Can there be so much
smoke without fire?
Metropolitan has not sold for years
below 1S5. This morning II lowered
around that point on continued ham
mering.
Yesterday Metropolitan opened at
1881. advanced ! point, and receded to
i37. closing at a half better Todays
opening was Il point off closing. selling
down with little recovery to 1858 in
the first half hour on heavy offerings
There is 4 strong impression among
authorities that Metropolitan will go
much lower.
the Eastern roads OF the Gould system
the Southwestern lines have been ignor-
| ed in general gossip. at least TO
| great extent II is probable that when
Developments do come, they will affect
| the Eastern lines first but IL is practi-
cally certainty that a reorganization
| or the Southwestern lines Will come also
1t is more than probable that the cot
ton belt route-the St. Louis and South
western-will be the first affected Cos
| sip had il today that the reorganization
OF the finances Of that property viii be
| Effected as speedily as possible. The
/ primary Idea is apparently the retire
ment OF the preferred stock by an issue
/ OF bonds guaranteed by Missouri Pacific
and the Iron Mountain Company.
! How far-reaching the plans of the
/ Southwestern roads are is not known
| yet, but an officer Of one OF the roads
| in tn Could system said today that
| within two years the Gould system
would be thoroughly reorganized East
| and West" He added somewhat sig
: nifcantly. IF there is a Gould system
4 In the East by that time" Whether he
had in mind the possible purchase OF
! the Gould lines east of the Mississippi
| by the Pennsylvania in making the last
remark he would not say.
II is rumored that the Pennsylvania
Railroad has secured a very large mi
nority holding and probably control Of
the Wabash This would mean an end
of hostilities between Gould and Penn
| sylvania interests.
The labor situation on the Wabash is
| still critical.
! II is believed that Frisco is the sub
! ject of competitive bidding by two big
! railroad systems. it, as may be the case,
| control has not already passed. The
/ floating supply is small, and violent
| fluctuations often attend small transac-
| lions.
| It is authoritatively denied that there
| is any truth I'm rumOrs connecting the
| SeabOard with Frisco.
/ None Of the many ruuors afoat yes
/ terday regarding St Louis and San
Francisco has received confirmation; on
I the contrary. all have been denied by
those who should know
The same crowd that recently buIled
/ steel so violently is said to be Opcrat-
ing in Mexican Central. and much higher
) prices on this move are expected.
Bull talk is again current on Brook
/ lyI Rapid Transit.
Certain interesting plans for the bet
| tcrmcnt of Brooklyn Rapid Transit have
practically been perfected. but since they
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