The St. Louis Republic., 1903-01-31
Reported That an Arrangement Is
Pending Between 1t and the
Southern.
OFFICIALS REFUSE TO TALK.
Mr.. Campbell 1ntimates That At
lantic Outlet Would Be Desir-
able and Then Talks of
the Weather.
The Republic Bureau.

| New York. Jan. 30.-The usual flood OF
rumors TO account for the activity and ad-
| vance in ST. Louis and San Francisco on
| the Stock Exchange to-day. In Il declining
! market Frisco common was not only
! strong. hut advanced from stIs to So. later
! reactins. but showing a net advance on the
| Day of IA per cent, while the rest of the
| list showed declines.
No information could be obtained at the
! frisco offices on Broad street. and neither
| Mf. loakum nor any of the directors could
| De induced TO discuss the pronounced
strength exhibited by the stock. The most
sisnihcant feature OF Frisco is the fact that
the common stock upon which no dividends
are PAD IS now selling at a higher figure
which are diviGend-payers. The common
stock. however, Is the only issue that has
vote, and this would indicate that il Is
power.
The annual stockholders meeting is
SSSheduied TO take place in st. Louis next
h Thursday. The unusual demand fer vot-
ing stock. coming at a period so close 10
ms meeting, may foreshadow interesting
developments.
Whlch could not be confirmed, was the en-
try OF j. =. Morgan & Co. into Frisco.
MORGAN INTERESTS DOMINANT?
The Wall Street Journal says: I'VE under
stand that Morgan interests are now dom
inant In the ST. Louis and San Francisco
situation. There is further reason to be-
iisve that In the not far distant future
there may be conducted under the auspices
OF this firm something in the nature of
uniiication OF the Frisco system, which is
at present widely scattered as 20 location
and heterogeneous as to character. TO
what extent plans have been made in this
direction is not known. Probably they have
not gone very far as yet.
The advent OF Morgan interests into the
ST. Louis and San Francisco situation
doubtless accounts for the persistent rumor
that some arrangement is pending between
E'rfSnn nd fh.. Cnr tha,., Dot
systems connect of course. at ST. Louis.
Memphis and Birmingham"
RAILWAY ALLIANCE REPORTED.
J., In other quarters the report was circu-
lated that a great railway alliance was
pending by which the Pennsylvania the
Southern and the ST. Louis ard San Fran
cisco Ess, lines Were s; to be brought into one
Philadelphia and was attributed to "a
prominent and unusually well-informed rail-
road man
The identification of Morgan g. Co., with
Frisco may mean much to the rapidly ex-
tending system. Mr.. Morgan controls the
the Georgia Central The latter road runs
into Birmingham. Ala, the terminus of the
Frisco.
1t is not at all improbable that when the
been dissipated, it will be found that
Frisco will get TO the Atlantic Seaboard
over the Georgia Central tracks to Savan-
nah, giving in return TO Morgan and the
Southern Railway trackage rights over the
new Frisco line now being built to New
Orleans. The Frisco is bending all its ener-
gies TO the completion of this last-nayned
extension. There Is no talk OF building to
the Atlantic Seaboard. This, however. Is
only reasonable. There is no occasion to
build to the coast from Birmingham if an
agreement can be made with the Georgia
Central, and since the Southern is anxious
TO get to New Orleans over tracks that
might be made a part of their own sys-
TEN.
COMMON-STOCk DIVIDEND.
One of the many reasons given for tho
advance In Frisco was said to be talk of a
dividend on the common stock. When Mr.
James Campbell was asked as to the prob
ability of such action. he said:
There is nothing In it. Not a member Of
the board has mentioned the subject OF a
dividend on the common stock. We are put
ting all our surplus earnings in the new
line to New Orleans, that being deemed the
best policy In the interest of our stockhold-
ers"
When asked about the likelihood of Frisco
reaching the Atlantic Coast. Mr.. Campbell
said:
Frisco is now in birmingham, Ala. and
that's too close to salt wafer for US to
remain there"
He added significantly that he had recent
ly ridden over the Georgia Central from
Savannah TO Birmingham and was much
impressed with the trip. Questioned as to
whether he had in mind at the time of his
trip an outlet to the Atlantic for the Frisco
over the Georgia Central. Mr.. Campbell
cfeLged the subject and talked about the
weather and billiards.