The Washington times., 1903-06-26
FINANCE AND COMlIERC E.
CURRENT NEWS AND GOSSIP
OF INTEREST TO INVESTORS

into the directory of the Colorado Fuel
and Iron Company is an indication of an
alliance between the Rockefellers and
Goulds. not only In the company just
mentioned. but in the plans for the OK
tension of various railroads with which
both interests are identified. Wall
Street naturally assumes that the com
bination between the Goulds and the
Rockefellers will be strong enough TO
overcome all obstacles that may be
placed in the way of the so-called Gould
invasion of the Eastern railroad terri
tory. Strong objection to the extension
OF the Gould lines to an Eastern tide
water outlet developed in Pennsylvania
circles as soon as the Gould plans were
announced. but there is now excellent
reason for the belief that the Pennsyl-
vanlas efforts to check the Eastern
growth OF the Gould and Rockefeller
railway systems will not be successful
It may be true that a large amount OF
Pennsylvania stock has been accumu~
lated on the decline of the last few
months by interests which have never
before been connected with the
that control of the property will ever
pass TO new hands. The extension of
the Gould system can be made without
| the Goulds and Rockefellers having a
controlling voice in the affairs of the
| Pennsylvania Railroad, and both the
Goulds and the Pennsylvania people will
be able to complete their plans without
running the traffic receipts of one an
other. The Pennsylvania Railroad will
never be forced to reduce its dividends
because of new competition in the ter
ritory through which its lines now run.
The country is growing fast enough to
warrant the continuation of the Wabash
road TO the Atlantic Coast.
The movement of money between the
banks and the subtreasury so far this
week shows a considerable gain TO the
! latter institution So far as tomorrow
bank statement is concerned, this loss
Will doubtless be offset by the receipts
Of currency from the interior, which
Rave been heavy in the last few days It
| IS not profitable to speculate on the
probable showing of the weekly clearing
quarters where the course of money Is
carefully watched. it is not believed that
the reserve above legal requirements
will show a material change from the
statement Of a week ago. Conditions in
\ the foreign exchange market suggest
| further exports of gold. The supply oil
| bills is light, while the demand for re-
mittance Is moderately active London
is not bidding for money from this SIDE
/ but there appears 10 be an active de-
r,and in Berlin and Paris. Current ease
| in the time money market reflects the
/ light demand in the market from Wal
Street commission houses, while the
relative ease in call money may be
traced 10 the same source. While high
er rates may prevail for a brief period
/ at the end of the month, IL is not
thought probable that July and August
rates will rule above present quotations
| barring. of course. unexpected adverse
developments in the money market
he demand for currency in the fall for
/ crop moving purposes will doubtless be
as heavy as in preceding years, but it is
not at all unlikely that the Federal
Treasury will throw enough money into
the market to prevent disturbance
The significance of the Bank Of Eng
land statement yesterday is less appar-
ent in a weekly than in a yearly com
parison. The latter shows a marked de-
! crease Of loans and a large increase ii