Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-07
AND BEARS

Special Dispatch to The Star.
NEW YORK. August while It was
expected today that e the extreme heat
continues for any length of time the trad
somewhat. SPECTATORS who are In posi-
ton to know the plans OF the men who
have been the, largest buyers OF stocks for
some weeks looked for the market to con-
tinue strong, and to become considerably
more active as soon as the extreme heat
subsidized 1t was said that without que6-
ton the present movement was In the
hands OF far more powerful interests than
the professional element. It was believed
that before long interest would turn large
" to several of the low-priced railroad
issues and they were expected to sell at
least at the highest prices that have been
recorded for them in previous movements.
Persons who are. In close touch. With the
controlling interests In the Rock Island say
that much more mas ba4in accomplished In
the dsyelopment Of the property than the
pubic has any knowledge Of These per-
sons say that undoubtedly the Rock Island
will be developed to the fullest extent and
become the greatest railroad system In this
country
~
President Elliott Of the Northern Pacific
railway has arrived here. and win remain
two or three days on business connected
with his company. Mr.. Elliott says the
conditions In the northwest are highly sat
isfactory. THE chief difficulty with the
railroads and with the farmers Is the
scarcity OF labor. Mr.. Elliott says that
the crops in the Northern Pacific territory
are looking well. and that the report of
rust damage to the wheat Is unfounded
There has been little red rust In some
sections, but there Is no block rust. Mr.
fsYffsf ,nr az toa hot fIa
inss of the Northern Pacific Railway Com
pany proper for the fiscal year were $62.-
100000, an increase Of $10,OO0.000 over the
previous year, and that the earnings of
proprietary companies and incomes from
various sources viii make the total receipts
considerably in excess of the earnings of
1.-The railway company alone. AS to railroad
conditions In general In the west and north
west. ME-. Elicit says that most of the
roads have more traffic than they can ham
die promptly.
Only routine business was done at the an
nual meeting Of the Consolidated Gas COM
pany OF .Pittsburg late yesterday. The ma
jorfty Of the stock is owned by the Phila-
delphia company. 1t has been unable to
compete with natural gas, and the dividend
rate of 6 per cent has not been maintained.
1t would not be surprising to see the divi-
dend passed altogether in the not distant
estate gas plants and franchises In various
parts of the city. It is carefully managed
and the property is In the best physical
condition. Should it outline the natural gas
1t viii take an important place among the
utilities OF the city, but that seems to be
the only hope for the stockholders so far
as the dividends are concerned.
Word has been sent out from the general
headquarters of the Pennsylvania Railroad
Company at Pittsburg to division officers
ordering that all terminal improvement
work must be completed as soon as posi-
BILE, to care for the heavy freight traffic
that Is expected this fall and winter. The
order states that an unusually heavy traf-
fc is expected this winter and that the
improved facilities will be necessary to
avert congestion OF freight. The order
also states that repairs to the rolling stock
must be made in the immediate future, and
that all engines must be sent to the shops
for general overhauling. The fact that
the Pennsylvania has issued such orders
and that similar orders were issued last
week by the Baltimore and Ohio railroad in
dicates that the railroads will try to avoid
freight congestion this winter. Fortunate
ly. the railroads have experienced little
damage to locomotive boilers as a result of
using impure water this summer. Water
purifying plants have been erected along
the local lines. and there has been much
better supply OF water this year than in the
past.
X
Counsel for William A. Bradford. jr. pres
ident of the Chicago. Cincinnati and Louis
vile railroad. and his associates began to
take testimony yesterday with regard to the
agreements made for the sale Of the road
to the Pere Marquette and the Cincinnati,
Hamilton and Dayton railroads. 1t is un-
derstoed that during the greater part Of
this week testimony will be taken from per-
sons who were identified with the various
railroad properties concerned, previous and
subsequent to the deal Default was made
several months ago on coupons of the 3d.
100000 Pere Marquette bonds which were
issued to MIR. Bradford and his associates
=. ~ .Nr 10 Ncnicago. Cincinnati and