The Washington times., 1903-02-16

AS a possibility it is interesting, even II
not entirely convincing at the present
time.
Curiosity as 10 tie cause OF the
of the Minneapolis. St Paul and
Saut Ste Marie securities has not yet
been satisfied. The only theory that has
found its way into circulation is the one
that the preferred stock would be con-
v"rted into az per cent bonds on a basis
of 200 in bonds for each share Of pre-
fcrred stock. 1t is asserted that some
announcement 10 this effect will be
forthcoming soon, but it cannot in truth
be said that there is aught of the in
fallible apparent in the prophecy, or, in
deed, in the prophets.
Something is asSured1y back OF the ad-
vance in price and IL is doubtful that in
creased earnings is the sole influencing
cause, although IL Is figured out the earn
inGs for the present fiscal year will show
p per cent On the preferred stock which
is entitled TO per cent. Certain bullish
sentiments. fOrcibly expressed by a
Western house a month ago on these
stocks. have been substantially verified.
Canadian Pacific last month sold 1922
600 acres of land for $42S O0O. The aver
age price per acre has increased just 81
or 20 per cent over year ago. At the
present figure the railroads lands are
worth SS0,00O.O CO. or SIS, 1000 900 more
than its total debt. All this land was
concession from the Canadian govern
ment.
The New York, Philadelphia and Nor
folk Railroad will shortly increase its
capital stock from 81. IA. 375 TO s., O0O. 900.
no c4r .E 9Th tod tn 80
shareholders at $50 a share II is pro-
posed TO improve the terminals at Nor
folk and to make other needed better
ments. officials of the Pennsylvania
Railroad control the property.
The banks and trust companies will
be called upon TO supply millions OF dol
lars In connection with the financing of
new corporations and new security is
sues within the next few weeks. among
them the Erie bond issue. Lackawanna
Steel Company bond issue. and Rock ISL
and stock issue. in connection with the
purchase of the Houston and Texas Cen
trail. the Chicago and Northwestern
stock issue, The Southern Textile Com
pany. a combination Of about sixty cot
ton mills in the South. the Lead consoli-
dation. and the American Barrel and
Package Corporation. a combination OF
barrel and package concerns Of the
United states.
The Wall Street Journal" thinks rail
road bonds should never be accepted By
the Government as security against de-
posits.
/ We may see the day when an Ameri-
/ can trust will be formed to finance i'm
| pecuaiCus South American Republics and
adjust the international fiscal matters OF
/ the whole world A check from some
/ future Carnegie would be equivalent tc
a feet OF battleships.
/, AmaIgamAted Copper preferred showed
evidence OF strong pool manipulation.
1t is said on good authority that A c
/ P stock will go materially higher III
/ Content and BesseI we're buyers thii
morning while d. Henry was a seller.
WeIls-Fargo Express Company stool
rose 20 points in two days last week I
is now s249 a share.
Next month the Commercial Cabl
Company will increase its capital from
SIS. 900 900 to $25.000.O00.
American Shipbuilding has declared
regular quarterly dividend OF ia pc
cent on the preferred stock.
May cotton last week rose about S2.5
a bale.
A syndicate IS trying TO buy all IN
Syracuse breweries.
II is anticipated that the Erie state
ment for January will show $500 600 in
creased net earnings.
A bull up on Southern Railway was 4
circulation.
The Standard OIL crowd was reporte
as the most active bull influence in Wa
bash preferred. Butler Brothers wer
buyers OF Wabash.
p No greater. manifestation OF the pro
found peace that has come TO Colorad
Fuel and Iron could be looked for tina
the fact that it has practically droppe
out of current gossip Much work
being done on the property, and IL
the evident intention of the new inter
= ests and the old to bring il as speedil
4 as possible 10 the highest point Of pei
g lection.