Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-24
BULLS AND BEARS

NOW YORK. May 24-The Wisconsin
Central is branching out. The Lake Supe-
rior and Southeastern Railroad Company
yesterday recorded a twentysive-yeAr per
cent mortgage here for 100000 II favor
of William L. Bull, trustee. The Like Su-
perior and Southeastern Is surveyM from
Ladysmith. Wis, on the Wisconsin Central.
to Duluth, distance OF about It's miles,
Rights of way for terminals in Duluth
and Superior have been purchased. The
line from Ladysmith will give the Wis
consin Central the shortest route between
Duluth and Chicago. This road now en-
tiers Duluth over the Northern Pacific
tracks from Ashland. Wis. The new road
is expected to be completed within the
next eighteen months.
Aggressive efforts are being made by the
interests In control of the Atlantic Coast
Line group, constituting system Of 11.1o3
miles of railroad and SIS miles of steam
ship lines. to increase the growing pros
perity of the south and to obtain for their
properties a larger share of this prosperity.
The Atlantic Coast Line the Louisville,
the Nashville Chattanooga and ST. Louis,
and smaller subsidiary lines will establish
bureaus of immigration and industries,
which will not only publish an. exploit the
but encourage immigration to the SOUTH
both from abroad and from the states north
and west in this country, and do everything
possible to facilitate this immigration and
the location and development of industries
1t is expected that the subscription bonds
which Kuhn, Loeb & Co. will open at 10
o'clock tomorrow morning for $50, 500 600 of
American Smelter securities per cent.
cumulative preferred stocks, series B. Of
fered at 9S will be closed long. before 3
o'clock in the afternoon. There nave been
heavy advance sales by the underwriters
who have found that the stocks investment
feature made 1t very attractive. 1t Is point
ed out that the bond-like character Of the
issue. growing out of the guarantees of
dividends and interest by the American
Smelling and Refining Company which
make the stock practically first mortgage
on the earnings and assets Of the guaran-
tor, will undoubtedly prevent It from be-
coming a speculative foot ball, and the
floating supply of it in Wall street is never
likely to be considerable.
The Coal Trade Journal saws:
On the low basis Of cost to which the
market declined few weeks ago the
very Well. There is no indication given
of any further decline and it seems per-
fectly safe to believe that we are now
passing through the period of lowest
prices, and that in due course of time
!! there will be sharp upward turn. In
anthracite the only report is of a we'll
sustained demand, fully equal to the pro-
duct1ve capacity of the mines, not run
ming greatly ahead of output possibili-
ties, as it did last year and the year be-
lore, out strong enough to take all Of the
coal that is available and with indica-
tons of continuance on the present ba-
sis right through the summer, with the
usual fall rush to follow In the correct
dictionary sense of the word anthracite is
Iu IL
tated or duplicated 1t has required wears
of effort and many vicissitudes to bring
1T up to Its present position of pre-emi-
hence, but we believe that 1t is there to
stay"
X
It Is announced that the Baltimore and
Ohio Railroad Company intends to spend
In the immediate future about $1,000 900
in improving the Staten Island lines 1t
is said the road will be electrified. The
Clifton station on the Staten Island rapid
transit railroad was abolished yesterday
and hereafter trains will stop at Wander
bilt new station which has been erected
close to the Clifton station.
X
N. w. Halsey & Company are offering
s., 100000 first mortgage per cent gold
bonds Of the West Pennsylvania Railways
Company, due January l, $780, without op-
ton of prior payment. The property upon
which these bonds lien consists of
ninety miles of interurban electric lines
of heavy steam railway construction, serv-
ing population of over 600 in the we'll
known Connellsville coal and coke dis
trict adjacent to PittSburg, through which
territory the company has a practical mo-
nopoly owing to the broken character of
the country. They also a lien upon an
electric lighting system which supplies
h irtx mn
cities.