Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-19
BULLS AND BEARS

Special Dispatch to The Star.
/ NEW YORK. january 19.--Another indi-
cation Of normal easing in money condi-
tons abroad Is afforded by the action OF the
Imperial Bank Of Sweden. which has re-
duced its minimum rate of discount to S per
cent from 81 per cent The last previous
change made by the bank In It's rate Of dis
! count was on December q last. when 1t
was raised to 5h per cent from per cent:
on September Il last 1t was Advanced to
per cent from ~ per cent; on February 6
last the rate was reduced u Of / per cent
| to AZ per cent.
/ IS
There is only $lo6.3O0 of Lehigh Valley
preferred stock SO that the 100 per cent in
bank dividends which the stock Is to get
under the ruling Of the Pennsylvania courts
yesterday calls for a disbursement of but
S106.3O
Russian treasury notes redeemable In nine
months are being offered in England at
prices to yield 6% per cent to the investor
| -.
| Harvey Fisk & Son are offering here and
in Boston 81, 500 600 of mortgage per cent
| gold bonds Of the Railway Steel Spring
| Company. The bonds are secured by a
mortgage on its Latrobe plant. OF the total
issue Of $4.500,O00 about 100000 have al
ready been Sold Fisk g. Sons are offering
| the remainder at 06x and accrued interest.
The company owns ten other active plants
beside the Latrobe. The other plants are
| tree OF encumbranee. Interest on the bonds
/ Is payable semi-annually. The principal is
due in 1921. The company must pay $685.
| 600 annually into sinking fund. It may
| redeem any part or all of the issue ON any
| interest date at 105.
\ X
| Nobody whose opinion was worth much
expressed any belief prior to yesterdays
| meeting of the Amalgamated Copper direc-
/ tors that the dividend would be at any
/ larger rate than was declared. The best
| opinion was that 1t would be just what was
| announced, ~ per cent for the quarter, an
advance of Y of 1 per cent over the last
| previous dividend. The Bostonian's asser-
| ton that investors had been led to be-
| lieve that the dividend would be at the
rate of per cent Is accurate only in SO far
| as some desperate bearish operators had
assiduOusly circulated rumors to the effect
hoping to create a feeling Of disappoint-
| ment over the actual declaration. 1t is
stated on competent Boston authority that
| there is absolutely no vestige of such
bear pool as Lawson loudly proclaims him
self to be managing. If that Is so, whose
agent is he?
| The Railroad Gazette reports that the fol-
| lowing companies have ordered cars from
! the American Car and Foundry Company:
Wabash railroad, 1000 wooden box cars
| and 1000 wooden coal cars; Seaboard Air
Line, 900 box cars; the Union Pacific, 300
refrigerator cars; Southern Pacific Com
pany, 800 refrigerator cars.
| q In 18Th hoa pa.f<1
cars from the Western Steel Car and Foun-
dry Company and 1900 composite gondola
cars from the Standard Steel Car Company.
The Pressed Steel Car Company has re-
ceived an order from the Oregon Railroad
and Navigation Company for forty-five tank
cars The Fort Smith and Western Rail
road Company has ordered 100 box cars.
The Tidewater Railway Company has or
dered 100 fiat cars and 800 stock cars.
| The following companies have ordered To-
comotives from the American Locomotive
Company: The Denver and Rio Grande
Railroad Company. 20 consolidation Iocomo-
tives; the Chicago, Indianapolis and Louis
vile Railway Company has ordered 20 pas
senger locomotives and 81 freight locomo-
| tives 1t is reported taht all the locomo-
tives, with the exception of ten of the pas
senger locomotives. will be built in Canada.
The Italian railway administration is ask
| Ing prices on fifty locomotives The Sierra
Railway Company of California has ordered
| four oil-burning locomotives. instead Of two,
as reported December 20 last. The Western
Railway of Havana has ordered two loco
motives.
y x
The Union Storage Company of Pittsburg
| has declared dividend of 81 share pay
| able January u.
| rT,l,a
pany will issue $200OO0 worth of per cent
| thirty-year bonds. secured by a trust deed
| on all its property. in Cook, Will and Kan
kakee counties. Only $4,000 will be issued
| Immediately, and the remainder from time
| to time. On or after July /, 1911, the bonds
| may be redeemed upon payment of 2h per
cent premium and accrued interest. w: s.
Reed, president, and John B. Reed, secre-
| tary, who represented the controlling inter-
ests of the Chicago Electric Traction signed
| the trust deed.
The following compilations showing the
gross and net returns Of railroads with
comparisons for corresponding periods last
year have been made by Wall street news
agency:
For the fourth week of December the
gross earnings of ferty-three railroads ag-
gregated 13,673,97s against $12. s66,4S7 in
the corresponding period last year, an In
crease OF $607, 491 or 6.2s per cent
For the first week of January the gross
earnings OF thirty-seven railroads aggre-
gated $7,55O.722 against $685., 862 In the
corresponding period last year, an Increase
of $724 $3.50 or 1862 per cent. For the
second week Of January the gross earnings
of twelve railroads aggregated 81, SO6, LOT
against $3,0S8, 1873 in the corresponding
period last year, an increase of S7I7,374 or
23 % per cent.
According to statements made at the Of
flee of the Tennessee Coal Company the
offer to retire the preferred stock being but
renewal of the offer made In 1900, pro-
yidea for q Reduction Of "a ner cent or, o..