The Washington times., 1903-02-18


been current in the street apparently
from these sources to the effect that
there was something hanging over the
market" and that until il was disposed
of caution is advisable. DiIigent inquiry
has up TO the present failed 10 confirm
any OF the various forms that this re-
port has taken.
Money was quoted at Pa.
A single trade in St Paul was at a
gain OF Il, result of newspaper predic-
tons that rights would be declared at
the next meeting of directors.
T. c. I. gained Is. but lost most of It.
Hooking Valley and Hooking Coal we're
conspicuous for firmness.
Erie stocks were slightly lower.
The street has not finally decided wha,
TO think about Erie's $50. 600 600 bond H.
sue. 1t may rightly be regarded as a
move of the first order in the trunk
line situation. At present the PeHnsyi-
vania-Vanderbilt people have virtually
all the existing trunk line facilities
which are capable OF doing a big bust
ness Erie represents an element in
sympathy with this great dual alliance,
but is still more closely connected -ith
the purely Hill Morgan properties.
II this new capital is to be spcnr. az
announced. upon road betterment5 Erie
will be put upon a footing where Il will
assume far greater relative importance
than II now enjoys among the trunk
lines. With the good terminals hich
IL now has in Jersey City. Buffalo and
Chicago. and with improved tracks and
rolling stock. II will be able 10 haul and
distribute traffic in competition with he
standard roads. Any railroad with ter
minals I'm the big Eastern cities has Z
future
Business for the carriers is leaning
forward. yet how many actual new roads
have been built 10 New York in the last
dozen years? None. II is hard 10 crowd
in. and those already there are possess
ors OF an asset that increases as rapidly
! as the carrying business of the United
States advances
Reports from the coal regions show
I that only nineteen collieries Of the
I Reading Company were working yester-
/ day. They are short-handed because Of
the rumber Of men not showing up on
account OF the heavy storms
| Vice President Middleton. Of the Ie-
/ high Valley Railroad, Yesterday issued
an official card saying c. p. Coleman had
! resigned and that his position of pur-
I chasing agent had been abolished The
duties OF that office will be looked after
/ by Mr. Middleton himself.
/ J. G.. Cassatt treasurer Of the New
| York. Philadelphia and Norfolk Rail-
/ road. yesterday sent circular to the
holders OF trustees certificates repre-
senting the capital stock giving each the
/ right 10 subscribe 10 one share OF new
| stock at $50 for each six shares OF old
stock now held Warrants are 20 be
sent 20 the Fidelity Trust Company OF
this city
! Gould stocks were worked un and
down within fractional margin holding
/ firm around yesterdays closing Mis-
souri, Pacific was active. and sold from
/ = point of 10 s point advance. Condi-
/ tions in Wabash preferred were similar.
/ Conferences recently held in St Louis
| between officials OF the Wabash. and
committees OF conductors. trainmen. and
/ hremeD have not been a recognition Of
the unions. President Ramsey has ex-
| pressed himself as willing TO meet rep
/ resentatives Of the men directly. and
/ this is the course followed at St. Louis.
Rock Island common is likely to re-
main a low-priced stock for some years.
! The road has load enough 10 carry IN
/ the bonds and preferred shares.
: Union Pacific passenger trains are
/ badly handicapped by the long strike OF
/ mschinists. Locomotives are showing
/ the lack Of repairs.
! Atchison directors have authorized the
/ isEue OF $500. COO Of Eastern Oklahoma
division FIRST mortgage 4 per cent TWEEN
| IL five-ycar gold bonds OF the company
I 10 nj of 500 600 DHr
mile OF Eastern Oklahoma Railway lines.
now nearly completed. and is secured
/ by irsi mortgage on these lines Inc
/ entire proceeds of the bonds are to he
used for construction. and acquisition Of
! additional properties. and not for i'm
provement or betterment OF existing
properties.
December gross EARNINGS Of United
Railroads Of San Francisco were S5l5,-
z94; increase. $5l.255.
. The United Railroads OF san Francisco
! have applied 10 the New York stock
\ exchange to list $4,000 600 { per cent
Striking fund coupon bonds OF 1927, Sc
c;.red bv first general deed Of trust.
rhe case of Minnesota against the
! Northern Securities Company was ended
Yesterday and the defense will open on
Monday.
Brooklyn Rapid Transit was strong
and active Opening 4 point on il re
covered rapidly and advanced IA points.
The House has passed the car coupler
! bill. intended 10 strengthen existing leg
! islation on the subject.
/ The consumption OF copper in the
United States is about $4,000. coo pounds
| a month. and II is steadily increasing
+. =. Cotton & Co. New York brokers.
say In a ciDculaT letter that IL Is their
opinion the Pennsylvania Railroad VIII
acquire the Brooklyn Rapid Transit 40
as 70 have control Of all the railway ia
cilities on Long Island. Rapid Transit ;