The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-03-02

SYSTEM reorganization. If the oracles
are accurate the details OF the Hook
ing Valley deal will be made public to-
morrow. but II is exceedingly doubtful
that they are right The announcement
is expected soon. but il is not possible
to set any particular day or date for 1t.
Until the official statement Is made. the
belief will be held. that the deal in
wolves the formation Of an independent
company. the acquisition OF control Of
that company by the Pennsylvania and
Lake Shore. a guarantee OF per cent on
the common stock. and the retirement
of the preferred stock.
Speculation as to the future of Next
can Central has been induced by the pur-
chase OF Frisco by Rock Island. and
there are many suggestions as TO the
possibility OF that property figuring in
subsequent Developments Some OF the
gossip has il that Mexican Central Will
be eventually taken over by Rock Island
That does not seem to be at all i-noos-
sible. but the present owners OF the
property are scarcely likely 70 part
with il readily, inasnnich as they are
81 AAN-Sl-ASNAf btA4tNfTS IN It's future.
Many OF the capitalists who controlled
Frisco are identified with Mexican. nota-
bly, II. Clay Pierce. who is even now in
speeding the property. A number Of ex-
tensions are under way which. when
completed. will give a largely increased
traffic and there are vague hints OF other
plans, the nature OF which are carefully
concealed. Should Rock Island eventu-
ally acquire Mexican Central IL would
be of material benefit TO both properties,
but. while IL is a possibility, its accom-
plishment may be doubted.
Gossip concerning prospective plans Of
General Electric is plentiful enough in
the Street just now. but it seems to re-
volve around the idea that an increase in
the dividend will be authorized at the
next meeting very specific statement
has been made by several brokerage
houses that the stock will be placed on
a 10 per cent basis and the surplus will
be $32. 900. 900. Officers OF the General
Electric will not discuss these reports.
but there is good reason TO believe that
they are accurate. Details OF the deal
by which the Stanley company was &C
CURED have not been published official
ly yet. and they are not likely TO be for
some time.
Directors OF the Mexican Northern
Railway Company have declared a quar-
tcrly dividend OF Z per cent. payable
March 8 to stockholders OF record
March ,.
The stock market opened fairly strong
in New York and there seemed to be
a certain amount OF stock for sale. The
Waldorf crowd is lighting this strength
and the market may rally against them.
AGvice5 from Texas say that a secur-
tiles company. similar to the Northern
Securities, IS being formed through ]. P.
Morgan e. c.. to hold the stock Of the
Frisco. Rock Island. Southern. Santa
Fe. and Georgia Central. The story,
however. lack verifcation.
Americans in London are Il to "A UP. /
Short selling at this juncture does not
smack OF observation. Bears should be-
ware the Ides of March Mr. Keene
feels very ballish and will be downtown
this week. There is good buying in
Fries, AtchisOn. Copper and Sugar The
pool in Rock Island is intact This stock
will rally smartly with the rest Of the
market.
Earnings OF Atchison for twelve |
months ended January 81 were equiva-
Iert TO about 6 per cent after payment /
OF all charges
United States Steel directors have def
nitely decided to go ahead with the pre- |
ferred stock conversion plan, and an an
nouncement TO this effect will be made 4
shortly. il is authOritstively stated that /
the company will spend in improve
n.ents this year not less than $50. 900 600. /
The New York Stock Market increased |
IN strength during the morning Mem 4
bers of the bear party. however. shrug- !
ged their shoulders and claimed that Il /
was merely a higher level to sell on.
The short interest IL very heavy and IL /
they begin to cover sharp rally is ex-