The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-03-02

- III A0oi sdnlEdllOu- II the oTdtitS
are accurate the details OF the Hook
ing Valley deal will be made public to-
morrow. but it is exceedingly doubtful
that they are right The announcement
is expected soon but il is not possible
10 set any particular day or date for IT.
Until the official statement is made the
belief Will be held that the deal in
wolves the formation of an independent
company. the acquisition of control OF
that company by the Pennsylvania and
Lake Shore. guarantee OF 3 per cent on
the common stock. and the retirement
of the preferred stock.
Speculation as to the future OF Next
can Central has been induced by the pur-
chase OF Frisco by Rock Island. and
there are many suggestions as to the
possibility Of that property figuring in
subsequent Developments Some OF the
gossip has II that Mexican Central viii
be eventually taken over by Rock Island.
That does not seem TO be at al i-noos-
sible. but the present owners Of the
property are scarcely likely TO part
with il readily, inasmuch as they are
enthusiastic believers In its future.
Many OF the capitalists who controlled
Frisco are identified with Mexican nOta-
bly, H Clay Pierce, who is even now in
speeding the property. number OF ex-
tensions are under way which. when
completed. will give a largely increased
traffic and there are vague hints Of other
plans, the nature of which are carefully
concealed. Should Rock Island eveDtu-
ally acquire Mexican Central. IT would
be OF material benefit. 10 both properties.
but. while it is a possibility, its accom-
plishment may be doubted.
Gossip concerning prospective plans OF
General Electric is plentiful enough in
the Street just now. but il seems TO re-
volve around the idea that an increase in
the dividend will be authorized at the
next meeting A very specific statement
has been made by several brokerage
houses that the stock will be placed on
a 10 per cent basis and the surplus will
be So. 600 900. Oficers OF the General
Electric will not discuss these reports,
but there is good reason 10 believe that
they are accurate. Details OF the deal
y
CURED have not been published Official
ly yet. and they are not likely TO be for
some time
Directors OF the Mexican Northern
Railway Company have declared a quar-
tcrly dividend OF Z per cent. payable
March to stockholders OF record
March 3
The stock market opened fairly strong
in New York and there seemed TO be
n certain amount OF stock for sale. The
Waldorf crowd IS fighting this strength
and the market may rally against them.
AGvice3 from Texas say that a secur-
tiles company. similar to the Northern
Securities. IS being formed through J. P
Morgan & Co. to hold the stock OF the
Frisco. Rock Island. Southern, Santa
Re. and Georgia Central. The story.
however. lack verihcation.
Americans in London are - 20 "a UP.
Short selling at this juncture does not
smack OF observation. Bears should be-
ware the Ides OF March. Mr. Keeue
feels very bIllish and will be downtown
his week There is good buying in
Fries. Atchison. Copper and Sugar The
pool in Rock Island IS intact. This stock
will rally smartly with the rest Of the
market.
Earnings OF AtchisCn for twelve
months ended January 81 were equiva-
lett TO about per cent after payment
o. all charges
United States Steel directors have def
nitely decided TO 90 ahead with the pre-
ferred stock conversion plan. and an an
nouncement to this effect will be made
shortly. it is suthoritatIvely stated that
the company will spend in improve
n.ents this year not less than $50. 900, OOO
The New York Stock Market increased
in strength during the morning Mem
bers OF the bear party. however. shrug-
ged their shoulders and claimed that II
was merely a higher level to sell on.
The short interest is very heavy and IL
they begin 10 cover a sharp rally is ex-
al