New-York tribune., 1905-01-15


That the market as a whole is all rtght-that
It's natural tendency is toward irnprovemcnt-
and that we are likely soon to witness expansion
IN volume in trading as we'll as appreciationa n
market value-that these good things are close.
IS very generally the consensus OF oDin.ol now
prevailing in Wall Street. What Is particularly
required at the moment IS ability for OlScrla-
nation. In these times OF tendencies toward
open accounting, il is not difficult as fornleEH
10 obtain basic information regarding securN
values; and somewhat in token OF the fact that
this Is recognized shows in the one notable te-
cline on the Stock Exchange this week. the de-
cline In Elrginia-CaTOIina Chemical stock. ms
company's common stock rose from 10 % y on
expectations OF dividends. IT sold last sum
caer at - II is now about SI--vvea Sness haV-
ing started on recent indies tiOns that any eenl-
mon stock dividend is now out of The question
Ine company, emerging from It's crisis o
9Soz ~ tWhen - per cent had 70 be pald ~.
s0OC1O0O Recommendations. sold its fsrtAze-
Rroduct last year at a profit approach
SS.OcoOOO-providing the per cent preferrs-
ofvIdendS and leaving substantial Sufpius.
accounting for the calculation that If taes
could be smother such year common stock ui'.
dends OF, say. 3 or per cent might &c START
But with cotton down from ID cents 70 g. -.
ductton must now be restricted. acreage @ ~
shrink tremendously. though some essli' 49,
forecast that this years planting VIII ,1,
much as three-quarterS Of last year Feuv.F
by quarter or A third the fertilizer ds9al..- 49,,
and so cutting down Vivsinia-Coroiiha -
teal profits to little more than the preiel''-
stocks demand. ..,
The Company controls the Southern Co'!ss
OIL Company, whose profits diminish ~ 49,
shrinkaSe I'm the market value OF tnas ',u,
oil now selling far below the HSSiS 80
manded last yeaT-prOdUct now on manu- ~
made from seed which cost on an aNeiSe. e.,s,
Per cent. higher than seed can row 0e 1850
for. Thus In various branches the CVi' ss
loses, while ROW comes from Richmond = f Sss
dispatch announcing that the tompaus ~
issued an order 20 sales managers an 49, 49,. ,f
South to extend for six months the ~ - a.
all customers ewing for fertilizers VINO -
sire. NV
Among the Current Assets Of tne '.iulls
(ofICial statement December ~ tPHl ar -.
Receivable" and Accounts Receivooie ~
sGt'rE over $39O00fN o,,o
'Blis Payable run heyo-d S7.5o0Oo0
TIE markets close fo- the week was II W.. W. irs
ways lnspirltiog. The bank statement VI W, "a
treWeTdoUS gain IN surplus reserve iilSs. iiluu,. e.
thuS;Ssm. But what after all Is tne N'' - ne
feC.iye Of current bun arguments Snow b,,v-
volume ard the character Of the ass0f2,lss 49, Pa
ing led by Northern Securities ana J,uso6 .hs
cthc. More and more becomes estaollss,s estato,ions of
sgn!fy.ng fact that the recent 0pe e-+-o,~iatss
John W. Gates and hts UndiscloseH = = - ,on-
have preasNfred impending developments appre
sequence greater than anywhere Iis -eS,h T-nloa
ciated For every interest identthed W.
Pacific the sure accomplishment - 'ssSrtrIn-
What impends in Southern P0ci1c w -,-,.ooia- re-
ute to this result largely. southern Ssvidend
funding plans and Southern Pacine
policy assure this
II can now be snROupced uFe. .I.s rcni-
that the stock or the United states hel3 hasis
pany is 20 be placed upOn q fixed dlNl9exs.~r de-
Owners OF large block Of this stoSN, stl,. nanxers
clined bid made to them by New tyOTAWAT.
OF par for their holdings H. AIA