Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-17
BULLS AND BEARS

special Dtapatch To The star.
NEW YORK, May 17.-There Is more>
than a little disposition In conservative
quarters to place credence in the reports
OF completed plans for adjusting the rail-
road situation in the northwest, as indt-
Gated by the course OF prices for st. Paul.
Northern Pacific. Great Northern preferred
and Northern Securities stocks and the
Chicago, Burlington and Quincy joint
per cent bonds. The move In St. Paul yes
terday was regarded as certainly striking
for SO dull general market. Although
room traders seemed to start It. good
buying came in on the advance 1t IS as
serted by houses who ought to know that
'26 Broadway has been holding the bag
for st. Paul for weeks. Moreover. some
persons close to the inside are informed
that the Northern Securities group OF
stocks is a good purchase. The nat denial
by Chairman Miller of the st. Paul board
that the company has any immediate in
tention OF extending to the Pacific coast,
Is interpreted in some circles as corrobor-
atfng the story that the st. Paul Will get
to the coast through absorption or pur-
chase of control by the Northern Pacific
Wall street showed considerable interest
today in the figures given by the Interstate
commerce commission in reporting to the
Senate. as directed. the number Of stock
holders of every railroad in the country
reporting to the commission. According to
Poor Manuel, there were 207,TS3 miles of
railroad In the United States on December
81. 1903. According to the Interstate COM
merce commission, 1,220 roads reporting to
II had 321, S51 stockholders of record at the
date of their last annual meetings, before
June 30, 1904. Without allowing for mile
age not covered in reports to the commits
sion or for Implications through holdings
in different railroads by the same persons.
there is indicated here about one stock
holder to every two-thirds of mile of
Ut
figures, as to the number of stockholders,
was taken at time when there a
notable concentration of securities owing
to the tremendous slump in 1903 and the
further decline in 1904, and there has prob
ably been something of wider distribution
since then. The Pennsylvania had the
largest number of stockholders 4+115-at
the time when the commissions figures
were made up. AtchiSon, Ii, 1913; New York
Central, n,782; New Haven. 1892. and
Union Pacitis, 1885. Apparently no other
and comparatively few reported more than
LOCO.
The exports of merchandise from the port
of New York for the week ending today
were valued at So, 551 81, compared with
$500, 155 in the preceding week and $S.594-
So in the corresponding week last year.
From January l the exports from this port
aggregate $500, 145, IA. against $1s3. O2S
in the corresponding period last year.
Ihe tOtal exports OF feHneQ copper SO 1dT
this month are 2,56S tons. The figures for
the month are expected to exceed 10000
tons
Spencer Trask & Co. are offering to in
vestors the per cent preferred stock of
the Milwaukee Electric Railway and Light
Company at price to net about per cent
increase. The par value of the stock is
$780, dividends being payable quarterly. The
issue is absolutely limited to the 81 500 now
outstanding and is followed by an out
standing issue of 100000 common stock,
upon which per cent dividends are paid
The company owns and operates all the
street railway and the central station cleo
trio lighting plants in the city of Mil
waukee. and is under the supervision and
management of the North American Com
pany. The street railway system amounts
to about 40 miles of single track. The
physical condition of the company's prop
erty has been placed in the most effective
condition for the accommodate ton OF the
public and for economical operation. That
the financial methods of the company will
stand the most careful scrutiny is shown
by the fact that each year 70 per cent OF
net earnings is charged off for account of
depreca ton and reserve fund. In 1904 the
amount created was 1921 $50. The an
nual cash requirement for the preferred
dividend amounts to S2IO,00O, while the sur
plus earnings after charges were $l.o0S,3I4
in 1904.
Deputy Assistant United States Treasurer
"
consecutive year of service at the local sub
treasury. Mr.. Marion entered the govern
ment service on May 16. 1860
The Coal Trade Journal says today The
soft-coal trade has not developed any fur
Their weakness during the past week. ana
this is considered good sign-the natural
working out of the conditions that became
apparent about six weeks ago. All reports
at hand indicate large requirements of BIZ
luminous coal for actual use, and in all d.
rections good prospects for the future are
accepted as d certainty. Recent observa-
tons of the eastern or New England. mar
ket show that a more hopeful spirit pre-
walls there than in the markets nearer the
several points of production. This Is one
of the most interesting markets in the
country broadly competitive in its nature;
the most expert craftsmanship here meets
the shrewdest and most critical buying.
That the outlook is well regarded in this
section may be considered very SatiSfac-
tory circumstance. Anthracite shipments
continue in large volume. with a waiting
market for all the coal that can be sent
forWard.'