Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-26
BULLS AND BEARS

NEW YORK. May 26.-Perhaps, because
the announcement was made Informally
and without the sanction of namesA the
news OF arrangements making satisfactorily
to effect a perpetual peace between THE
Union Pacific and other railroad interests
In the west and northwest fell as fat az It
did. Perhaps, also, 1t was because the
stock market is tired Of having its hopes
and fears played upon. The fact remains,
nevertheless, that this Is highly I'm
portant matter for securities values and
will tell upon them fayorably In the long
run.
1t means the disposition Of a bad situa-
ton, one that has been a menace hanging
over the market for a decade Informal
announcement was made this morning that
the executive committee OF the Northern
Pacific ratified yesterday the agreement pc
tween the Northern Pacific and Union
Pacific for the joint construction OF lines IN
the Snake River valley through the Clear
water country In northwestern Idaho along
the Washington and Oregon boundaries.
+
There is reported to be more tonnage on
the books of the Pennsylvania Steel Com
pany than ever before in Its history The
statement was made by a well-informed
man the other day that there was great
aggregate Of finished steel orders in certain
lines awaiting booking. and that the United
States Steel Corporation could afford not
to take these orders on now as the fnde-
pendent mills were filed up far ahead.
The western sales managers OF the steel
corporation say that the trade conditions
are good with orders heavy and an out
look for better business in the second half
of the year than in the first. 1t was said
today that the Carnegie Steel Company had
to blow out several furnaces Tor repairs
and would blow more next month, making
it necessary for the company to buy fully
% 900 tons of Bessemer pig in the open
market for June delivery.
Reporting on new railroad equipment
business the Railroad Gazette says:
The following companies have ordered
cars from the American Car and FOUNDRY
Company: The Missouri, Kansas and
Texas Railway Company, 1000 box cars
the Missouri Pacific Railway Company.
600 box cars the Atchison, Topeka and
Santa Fe Railway Company. LOCO combina-
ton stock and coke cars. The Missouri
Pacific Railway Company has ordered 800
gondola cars and /. 600 box cars in addition
to the order placed with the American
Company. The Chicago, Rock Island ana
Pacific Railway Company has ordered 1,Ioo
refrigerator cars. The Cardenas and Ju-
caro- railroad of Cuba is reported TO nave
ordered 100 fat cars and seventy-f1Ve re-
constructed box cars.
1t Is said that the Western Railroad or
Havana has ordered 125 reconstructed
freight cars The New London Street Rail
road Company, 1t is said, has ordered four
cars. -,
The following companies have ordered To-
comotiyes from the American Locomotive
Company: The New York Central ana
Hudson River Company, 1t Is reported,
electric locomotives: the Pere Marquette
Railroad Company, Atlantic type passen-
ger locomotives, 20 Consolidated freight To-
comotives and 10 six-wheel switching loco
motives The report about the order FOR
electric locomotives for the New York Cen
trail is indicative of the progressiveness of
the management of the American Locomo-
tive Company in the matter of operations
while pursuing an almost ultra conservative
policy In the matter Of dividends on the
common stock. Some time since an agree
ment was effected with the General Electric
Company which put the American Locomo
tive Company in a good position to obtain
just such business as would be offered by
the project plans of many railroads to use
electricity as a motive power portions of
their lines.
Compilations Of railroad gross earnings
made by Wall street news agency show
the following results, compared with the
corresponding periods last year:
For the first week of May the gross earn
ings of forty-one railroads aggregated ST.
6,271, increase of $3.50, 624, or 6.19 per
cent. For the second week of May the
gross earnings of thirty-seven railroads ag-
gregated S7,512,74S, an increase of $526, 852.
or 754 per cent. For the third week of
May the gross earnings of twelve railroads
aggregated - ,oZZ,Ooo, al SdSS VI S-lO,-
S64, or 9.28 per cent.
The proceeds of the new issue of 81 O00
600 preferred stock. placed in the unlisted
department of the stock exchange by the
Rubber Goods Manufacturing Company
will be used in the construction of a new
plant at Detroit. which will be occupied by
the Morgan and Wright Company, SUBJ
sldiary corporation Of the Rubber Goods
Manufacturing Company.
According to a report purporting to be
authoritative the Vanderbilt system of con-
solidation and economy is to be extended
now to the Pittsburg and Lake Erie, which
Is controlled by the Lake Shore.
Industrial dividend payments next month.
according to the Journal Of Commerce, will
aggregate about $1S 131 900, compared with
SIS. GIL 900 in June last year, and making
Industrial payments for six months of this
year almost S., 600 900 in excess Of the dis
bursements for the corresponding period in
1904. The Commercial estimates that all
June disbursements will amount to $39,977.-
OFT. an increase Of about $2O00,0O0 over