Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-03-06
Nothing Definite Known Except
That Minority Stockholders
Will Be Benefited
MISSOURI PACIFIC DROP DENIED
Runors Circulated by the Financier
That Stock Should All Sell Twenty
Points Lower Denounced by Another
Financier-Decline in Northwestern
Trade Improving.

New York. March 6.-The advent OF
March brings with it numerous indica-
tions of improving trade. Inquiries are
increasing and a larger volume of bust
ness is noted in almost every branch OF
the iron trade, from old material to the
most highly finished products. A spe-
cial feature of the week was the large
business in steel rails. Orders have
been placed at Pittsburg for about 100,-
900 tons, which include considerable
tonnage from suburban electric lines,
an element now becoming an important
factor in the rail trade.
A continued flow of orders for struc-
tural material is reported by importing
interests. Practically all American sec
tons can now be purchased from for
eign manufacturers.
Something more than a mere issue of
bonds is contemplated by Louisville &
Nashville, IL some guarded statements.
made by one who ought to know, are
accurate or accurately construed.
Whether it means a reorganization of
the property or merely some kline of a
readjustment, can not be learned. but it
is asserted very definitely that within
six months a plan will be put into eff
feet that will be conducive to a more
agreeable state of mind of the minority
stockholders than they have enjoyed
since the Atlantic coast line deal was
announced.
M Snroa n oorAccivaly hoo rich nj orn nnaC
on Missouri Pacific are being attributed
to a certain venerable financier whose
influence and Importance market wise
are not SO great now as they We're fif-
teen years ago. He says the stock
should sell twenty points lower, and
other things that might induce the be-
lief that he was short OF the stock. 1t
has been the custom, however, among
those who have been favored with his
views to copper his predictions, if
that expression, borrowed from another
field of finance, may be used.
h exact purpose and cause of his
bearishness is not apparent. Another
financier who is thoroughly familiar
with Missouri Pacific affairs was asked
what he thought of this bearish talk.
said: 'If l may quote my noble
friend from Pawtucket, l should q
that the gentleman is .spoofing,' or In
other words. he is talking thru his hat.
Missouri Pacific is in splendid condi-
ton; it has, and will have for months,
business than it can handle, and
earnings will be a revelation. This will
Il record year for Missouri Pacific
Much comment has of late been di-
toward Chicago & Northwestern.
induced primarily, of course by the de-
cline in the stock as compared with the
high price established last April. The
stock sold hen at PIE; it closed
Wednesday night at 1S6. A variety of
have been assigned for this
drop in prices, among which. of course,
is the increase in the capital stock to
$1,000 900, 900 by the authorization of
about $36, 900, 900 of new common stock.
But even before the determination of
the directors to Increase the stock was
announced the price had scored a sub
stantial decline. But those who are
best acquainted with Chicago & North
affairs assert that the stock is
now selling at less than one-half its ac-
value. Marshall Field, according
to his friends, says that Northwestern
is worth 400.
That a reorganization of Northwest
ern inances is a possibility is of course
admitted, but it is highly improbable.