New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-27


be gained from a statement made yestsrdav Nv
q New York Central director that that ROAD A,a
spent million dollars this winter for sbovau,,z
snow. Sim. New York CentraPs own statsr,,,.
for the March quarter IS not bad IN view OF ,hs
conditions noted-the gross decrease for that
period falling below S1.JOOOOO willis for pins
months the showing IS excellent, and with IA
vorabls conditions from now on New York Gen.
tral-referred to as typical-can easily regain
the ground lost By what may be termed acct
dental causes.
There being two sides 20 all things, the So
we're winter which has so heavily taxed many
railroads. has blessed coal producers Con-
sumption OF coal has been enormously IN
creased, carrying stock on hand down to ths
lowest point since the great strike. Everything
points 70 a continuing prosperous coal business
and the determination OF bi-uuiDOus coal min
ers not 70 strike is cheerful testimony to thu
continuing betterment Of relations between an
ployers and employees.
Comment t. continuously heard OF public ab-
stention from Stock exchanges dealings IT'S
true that there is no excited public gambling
going on-nothing IN the nature OF unreasonable
buying FOR speculative profit such as was wit
messed this time thres years ago. But willis
commission houses dependent upon speculative
customers are doing slack business investment
houses have no cause OF complaint. Il Is get
ting to be more and more n fashion with small
investors to buy their securities through thu
agency OF the great banking Institutions upon
whose advice they rely. Then IN the matter Of
bonds there are large transactions not recorded
on the exchange-sale5 mads over the counter"
Important bond houses now maintain regular
staff OF statesmen whose business Il Is 70 travel
throughout the country selling bonds The total
OF the transactions foOts up 20 enormous fs-
ures which never find appearances n printed
records. Such houses are not complaining Ot
poor business, are not reducing their star, ars
not heard predicting ruin. Public speculation
will. OF course, reappear-it always does whs1
conditions are rirs-and thu present Is a riDsn-
ing time.
Il VIII be two weeks tomorrow since tbs
Northern Securities decision was rendered BY
the Supreue Court-tirne enough to gauge tairly
its effect nlarketwise. Il Is now seen 10 have
been FAR more portsntous IN apprehension than
IN result The conclusion has been accepted
calmly: instant obedience 70 the law has been
rendered There has been no attempt at petti-
foggine devices to escape the verdict On tns
contrary. all concerned ara united IN framinS
plans which shall operate with tustics and
eouitv 70 the stockholders OF the roads Involved.
The law 70 some Of Us may appear an vnN- s
one IT'S Interpretation may De tnOU54I Ad-S,,
b,7- II Is the law. Remedy Hes WIKI me peOps
themselves the fountain Of all law -lea.l%ll 'S
ir Is amusing TO recall the predictions or w a.
Street alarru.sts who imagined that inc 81
preme Court decision would Be ths sigma ros
swift devastation
Money market conditions continue easy. stsr@
ling exchange "a lowering near gold export poin%
rejecting TO some extent preparations prscedens
70 paynent on account OF the Panama CanaI
+-,-sss- When some gold Il actually shipped
Wall Street bears VIII find IN Il a tresn 'isnAI
% 5fsaq+sr which OF course win b the veriess
-, % ,47-aqso7. II the entire amount
tt,r5 La axrorted IN gold. what harm could 70
s--1-9 But the movements OF gold have a-"Sys
had A special fascination Tor Van S.les. 80
0rfsts while the sentimental erect OK - $50 $50
~ or coming in OF the precious meta - a4Nay
far out Of proportion 70 tLiaAcl@4 ALI S'-----
claI effect
,r,7r with souls other curious things dsvsiop-
ing al Albany Wall Street watches VIZ. -.
=. che movement against Rock Isia1ds 00h1
izsue-exactions being proposed un0er go
s+,7-aa which are not calculated to reassufs u
-, O., ar, guarter. II groups OF securities
~. p, bs singled out for special ADVERSE
- g. q. -, v,ot+ar Of serious moment ana
= 4ie7,r1t 70 discover whersn PUBIC 49, 49,.
60, 10 9, conserved It Is hardly a $50,
~,,so7 for assauIng Rock Island sscuF'- -.
pocr, Islands controllers are gaIy -
$50 oesaDca Of not being born sass ~ s,,s
80 The mana cement OF the RocN ls. .a1I IN
tarn ls not at issue, for not one p--f-5~lsn Zoe
administration IS fairly suoJ-eC :. srrs ars pro-
- 1acl, OF conservatism. Their 80 .,--s cora-
-~sssfra. and they are alert ana T,,4satura
So+itors But are the members Of 80 I 'r.ssrssa
I ~ the state Of New York ths n@---
/ In a Western railroad war;
=, various parts OF the market. new -.
,oo1z are ready for activity me u0l-'-- - -
prospect appears OF market response = 80
LIST ~ IoU-priced shares advances AS .1
=. -. t-,,gb+ about with the markets i-'o 1...
.o,di+lons given natural swing. Cnll'4 -,
| pc. tssues and Amalyamated Coppo- -.
,f,,a1 70 he favorites IN any betterlSit ,,is wa
yeioDs for the Industrial list -, Iii benefit
basb preferred and Southern PaclAI -,ara Is re-
De7 - +Ls railway shares start -neiS S.,s-al
Devsd taIS Of contest for 91exl Js-bilt rsla-
/ control There IS TO De rev
tionshIp for the 500 system
~, s.-,.- has recovered from any 49,.
p.r,t0- a.. 20 evil effects from the suly 80 -.
- corlapse. There Is decided intslss~ -.
-, g., so--,a OF the phases Of di5cUssiO- =.
-, a. saoueIs. Mr.. Sully'5 cosi"s ~
S---,.-.as we're exceedingly KALEIDOSCOPE, -
t,.-,,~,-scar,,rn fashion he seems 20 h',' "a
-, 20 buv anything and everything l--- ,on
orrarsd. depending upon his ability - rsxtu
rssrrinr corps from Wall Street nj s-.s,ly
TfarIev is assafed bitterly TOT Or, Mr. sulys
t1~diDe over a million or so 20 49, 100 canlor
-,-. sliya an extra day. W I'm 49, r5-ssidsnt
t cor. {5terrty Of Mr. Havvey and 800 Con
Frank Ray of the Continents -,.tC5, 50 nlueh
80 a. called into question VIZ ~ pOssi-
pahy - consideration that ~ an u the
55r,tv there can be more than one 60 - of st,airs
sorry Ui, business That experience 5ecustor ss
should give to a skyseTa .,5,d i ths various
anu a-1,1o5itv markets with carte 51I DruvOsal
tSeir money nlimitably is harG ,i.
which will appeal to sensible GIIAwA&