Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-08
BULLS AND BEARS

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Georgia Railway Company. the directors
of which have now placed the three classes
Of income bonds on the full per cent divi-
dend basis, was chartered In 1895 and OPP
crates system of about 1.S50 miles. The
Southern railway at one time owned the
Georgia Central through ownership of the
entire issue of $5.O000O0 of capital stock.
but was obliged by the courts to divert 1T
self of direct control. and the Georgia Gen.
tral stock is now held by interests allied
with the Southern. The payment OF the
full . FER cent on the third income bonds
VIC uld seem to invest this stock ownership
with value in addition to that which ac-
cries from the control of the property, for
tn, stocks dividend prospects are material
on the third income leaves a balance of
$106 or more than per cent on the
capital shares.
The average Of twenty representative
railroad stocks, of which record has been
kept for years by Wall street news agen-
cy, was raised to 127.7Y yesterday and about
80 above the top figure last spring and the
highest average since September, 1902 when
the record figures Of 1850 were reached.
The average of a dozen representative in
dustrial stocks yesterday was $3.50. about
11z under the top reached last spring.
shreWo commentator says that he re-
CARDS the prospects that the Jap-Russian
peace negotiations will fail as q big bull
point in the present stock market. He ex-
plains by saying: IF peace Is made both
nations will begin to borrow at once and in
huge amount. In the event of a continual
ton OF the war there will be borrowing, but
not In anything like so large amounts, and
the borrowing will be stretched over a long
er period. In the end the effect Of contin-
u;ng the war will be worse than ending it
now, but for the time being I would regard
failure to make peace as a bull point
solely on account of the credit situation"
X
Negotiations for the purchase this month
of 100000 tons of steel rails, 5000 tons of
this being Bessemer rails, are SAY. to be
under way A large open-hearth rail order
may be placed this week. The Tennessee
Coal and Iron Company has closed a con-
tract for $4,000 tons for 1906 shipment I'M
derstood to be for the Louisville and Nash
Vile railroad, shipment to begin In April
the rate of 5000 tons a month. Another
large contract for southern road is also
pending. which. IL taken by the Alabama
mill, will about put 1t out of the market
for next year.
The American Smelling and Refining in
terestS are said to have paid $50 share for
control of the Utah Copper Company, which
has capital stock of $500, 900 in shares OF
a par value of $40. This company has been
producing about 800 tons of copper a month
and is supposed to own an ore body OF
about 25O.00O,OOO tons, containing about s.
100000 tons of fine copper. 125, 600, 900
ounces of silver and 1900, 900 ounces of
gold.
The Republic Iron and Steel directors are
scheduled to meet on August 49, and 1t Is
expected that they will then vote for
dividend on the preferred stock.
A Rock Island officer says: 1--WE see moth
ing in the outlook to indicate any decline in
traffic. Many people consider the corn crop
sure guide to prosperous conditions. and
the promise of the new crop to date is about
record. General conditions in our terri
tory could not be better"
1.-THE traffic situation Is strong" SAYS
Burlington officer, land all roads will have
all they can carry in the way of freight.
The iron and steel news seems to grow
stronger each day, and the crop promise Is
perfect. The outlook for activity is indef-
mite. but it will last long time. to all ap-
pearances."
There is no change since a week ago."
says an officer of the Northwestern. 1.-THE
spring wheat crop is practically SAFE ana
crops of every kind in our territory are
large Current traffic holds up steadily"
1t is expected that at a meeting in this
city this week between Gulf, Western and
Trunk line representatives the present war
on sugar and coffee freight rates will prob
ably be settled.