The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-07-19

Belmont interests. This particular fndl-
vidual has, at least $1,000 shares OF the
stock, bought on the theory that when
the Atlantic Coast Line took over the
property, the dividends would be forth
with Increased to per cent and perhaps
per cent. The actual results are well
known and the stock Is now selling 30
points below where he purchased 1t. So
far as the individual possibilities are
concerned, the facts are these; No
change will be made in the dividends for
at least one year. and 1t Is the under
standing of friends of the Atlantic Coast
Line management thar IN July, 1904,
Louisville & Nashville will be put on a
6 per cent basis. Prior to that time the
speculative holders of big blocks of this
stock must cultivate patience.
Directors of the Erie will meet on July
q TO consider the question of dividends,
and 1t Is the common belief that the first
preferred stock will be put on a full 4
per cent basis and the second preferred
stock will be established on a per cent
basis The earnings of the company are
sufficient to pay per cent on each of
the preference shares, ana. at least, 3
per cent on the common stock, but con-
servatism is likely to dominate the policy
of the directors and while the increase
IN the first preferred dividend Is a GER
tainty 1t is not so sure that the second
preferred will get anything at all. Dur
ing the next year further plans for Erie
will be made public and it is the inten-
ton of the management to put the road
on the best physical basis possible.
| When dividends have been paid on the
first preferred stock at the rate of per
cent for one year, the voting trust lapses.
1t is understood that the voting trust
will be dissolved early next spring.
Some time since 1t was asserted that
st. Paul contemplated taking over Mis-
souri, Kansas & Texas. It was denied
at the time but 1t Is again repeated and
it is asserted that the zeal has already
been perfected. It is said that ST. Paul
will issue a sufficient amount of it's re-
Gently authorized stock to take over a
majority of the stock of the Katy" on
these terms; One share of st. Paul will
be given for four shares OF M X. & T.
common, and one share of st. Paul for
two shares of NJ, K. & 7. preferred. Ru-
NOR has 1t that the deal was perfected
on the day the adverse decision in the
Northern Securities case was made pub
lie and temporarily held up on that ac-
count Some go so far to say that ar
engagements are now being perfected by
which st. Paul will be able to run its
trains direct to st. Louis next year. and
thus obtain large share of the EXPOSE
ton business
The following verses from the London
Globe" find free circulation in Wall
street this week and occasion hilarity:
WRECKED.
"a Pathetic Appeal to Mr.. ]. Pierpont
Morgan)
o, mighty magnate hear me speak,
My voice is mild, my temper meek,
want no scene, l only seek
My dividends.
You promised me that II we let
You have the money you'd upset
Old Englands ships; but l can't get
My dividends.
o, look not on us with disgust,
In you we place our Shipping Trust,
Give us no million pounds, but just
Our dividends.
We gave you capital to sweep
Britannia off the winking deep.
We gave; you took and, now you keep
Our dividends.