The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-02-10


formly strong with transactions well dis
tributed. The dealings were largest in
Amalgsmated Copper. which is = higher.
Missouri Pacific. Wabash preferred and
Texas Pacific, collectively, were the lead
ing features of the market, averaging
fully y per cent higher.
Gains of p were noted in Norfolk and
Western, Reading, st. Paul. MeXicah
Central. and many others. The gain in
Anaconda was y. There were no de-
cIines in the active list. except loss OF
Il In Steel and National Railroad MeH-
can common. Sugar developed acttvtS.
and gained p. Rock Island was active
but only 4 up.
The first evidence Of a change in the
policy of the Reading company Is tho
return to a per cent dividend on tho
preferred stock This follows closely the
recently announced change Of ownership
We hear that the same interests who
bought and bid up Reading some time
ago are again At work In the stock.
The selection OF Mr. TwOmbly as the
representative of the Vanderbilt inter-
ests is likely to mean that the approach
of the dissolution Of the voting trust IL
now contemplated and that a strict plan
OF reorganization is unnecessary by rea-
son OF that fact.
Missouri Pacific acts as though il were
going TO much higher prices
Missouri Pacific in 1902 showed an
earning capacity OF probably 10 per cent.
The basis on which an agreement was
reached between Missouri Pacific and
Iron Mountain engineers and trainmen
is substantially an increase Of 10 per
cent on the present scale.
A cOterie Of professional traders is
said 10 be bulling Norfolk and Western
Norfolk and Western holds a special
meeting today TO increase its capItas
stock.
Soft coal roads will advance coal
freight rates about 10 cents per Ton TO
take effect April /. The advance will
amount TO $1,000 600 per annum on its
present tonnage.
Chesapeake and Ohio will renew ex-
piring coal contracts at more favorable
rates.
It was said that there is a very big
short interest in Rock Island and that
it had not been entirely covered.
Harry Cotent was large buyer OF
Rock Island.
There is bull talk on Mexican railway
ST locks.
The buying OF Mexican Central was on
the belief that an alliance will soon be
ARA nged with the Southern Pacific. The
Waldorf crowd are said 10 be bulIing the
stock.
The old Houston and Texas Central
Railway had n stormy and precarious
existence prior 10 the receivership pro-
the Southern Pacific. Since that time
the earnings have steadily increased.
The funded debt Of $14 .524. 900 is well
secured, and there is a provision for
the application OF land sale proceeds
to reduce the first mortgage and con
soils. which may be called al 10 from
proceeds OF land sales.
There was some demand for Southern
Pacific in the bear crowd
II Is said that Texas Pacific has
been accumulated around 40 by the same
people who are now buying the stock.
Pere Marquette common viii be es-
tablished on a 4 per cent basis in April
General Manager Carpenter. OF the
Pere Marquette Railroad. IS authority
for the statement that the extension OF
the system TO Chicago IS now under con-
sideration- Mr.. Carpenter says the route
viewed with favor IS a direct lines from
La Crosse. the southern terminus OF The
road. 10 the Illinois State line.
An upward movement IN Atchison pre-
its telegraph operators. granting th"I
raise which is said to amount 20 l.
per cent
An upward movement in Atchison pre-
ferred was confidently predicted by an
excellent authority. The tip is thought
10 come from the inside
Col. Myron r Hcrrick. chairman OF
the board OF directors OF the Wheeling
and Lake Erie Railroad. referring TO the
recent Wabash meeting in New York.
said today: Among the big improve
ments practically decided upon WIS the
double tracking OF the Wheeling road
east OF Toledo and south from Cleveland.
all the way through"
The pressing for sale OF san Francisco
refunding Der cent bonds by dis
grun'led minority holders Is having
bad effect on the stock
Canadian Pacific has declared the reg
ular scmi-snnual dividend OF per cent
on It's preferred and pa per cent on its
common stock. both payable on April J.
Tie president of Canadian Pacific. at
ter the meeting yesterday stated that
after the payment of all expenses. fixed
charges and dividends for the half year,
there would remain a surplus Of S3202.-
9O7.
Forty-three roads in the fourth week
OF January showed gross increased earn