The Washington times., 1903-01-02

There are but few who can resist be
ing convinced by this array OF facts.
Even Mr. Russell Sage. whose power in
I Wall Street is second TO none, declares
that he sees no reason why there should
! be any interruption Of prosperity in this
country for at least a year to come, and
7 his judgment is entitled TO the greatest
respect On all matters of finance.
The only immediate danger to be feared
Is the scarcity Of money. Whether that
VIII become easier or not within the next
ten days remains TO be seen Under or
binary circumstances the coming bank
statement viii not reflect large return
OF money from the interior, but next
week there should be an Increase of
about seven millions. In the same pro
portion the reserve should increase until
/ the latter part Of January. and with this
enlarged volume of idle money the rate
Should go down 20 I or 3 per cent. and
! perhaps bring about gold expectations
This has been the course in the past but
whether that viii be the case this year
cannot be fOretold- It is true there has
( been comparatively little Of the cereals
and cotton shipped abroad. Those ship
ments always reduce our balance of
trade, and II Is only when the balance is
against US that gold is sent abroad It
I IS also believed that Europe is now buy
/ ing our stocks. II this foreign demand
/ continues in any volume gold will come
to US instead Of going abroad.
Mr. Robert Bacon has temporarily re-
/ tired from the firm Of Messrs. J. ?. Nor
/ gan & &c, with which he has been fden-
titled since 1894. Mr.. Bacon had much to-
/ do with tSe reorganization OF the Balti-
more and Ohio, and negotiated the set
/ tiement Of the corner IN Northern Pa
/ cifc in May 1901
The car shortage and blockade of
/ freight in the East still continues. Grain
/ shippers have received notice from the
/ Wabash and Baltimore and Ohio that
/ 10 grain viii be received for points east
/ Of Detroit and Pittsburg- On the Erie
/ and Pennsylvania the same congestion
exists.
The maIleable iron interests of this
country have entered into a connbius ton
! which includes plants In Ohio Wiscon-
sin, Illinois. Michigan, Pittsburz. Buff
falo, Tennessee. New Jersey and In
diana. The deal takes IN seventeen OF
the largest concerns Of the United
States The new company is 70 be cap
ltalized for about twenty milIioE5.
President Loree Of the Baltimore and
( Ohio discla1ms having said the passen-
ger traffic IS the dress parade" and
/ 'srand stand" play Of railroads and hat
/ money received from passenger trains
/ no more than paid expenses Mr.. Loree
/ says the interview with him was 2 pure
4 fabrication.
i Delaware and Hudson declared it's
usual dividend OF : per cent, notwith-
standing rumoTs that 1t would be cut.
+ II is now said that at the annual meet
/ ing. which viii take place this north.
an extra dividend viii be declared
/ The firm Of Dick Brothers. Of Phila-
! delphia and New York, has been dis
/ solved, and q new firm formed, under
( the name OF Dick & Robinson.
( The Suffolk and Carolina Railway
/ Company has declared a stock dividend
I Of 100 per cent. The stock OF this com
pany is largely held in Baltimore
/ Missouri Pacific is booked for another
/ rise. which Il is said viii carry It above
i ifs high figures of 1902. Those who
predict the movement are confident the
/ increased earnings during the remainder
/ Of the fiscal year will cause an increase
/ in the dividend rate.