Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-27


NEW YORK. March 27.-The speculative
community, or at least large portion OF
II. Is beginning TO realize that the stock
market Is In position to move up SHARPLY
a. soon as the prominent interests are In
favor of q broader and more active MIR
ket. The professional element haA logt most
of its pessimfsm. and 10 inclined to bid up
prices. II h believed that unless new adj
verse factors appear. II viii not be possible
to depress prices materially nom the pres
ent level
Men who are in close touch with the
bituEinous situation claim that they have
no Information today except that published
In the morning papers 1t 10 understood.
however. from COED sources that deter
mined effort Is being made by prominent
interests to avert strike.
-
New York banker. who Is supposed to
possess excellent Information. In comment
ing upon the probability OF the Atchison
dividend being Increased next week patl
would be made at thst time, bYt also said
that 50 far as he was able - learn there
would be few dividend ipIsases or othes
Important actions By c2Ssarate interests I'M
- NSAAttS- 80 -rsgtNAttSSttt W Nof6t VS..
-
Among the well-known men who have
come to- fswn recently is Marvin Hughitt.
president OF Tho Chicago and Northwestern
Railway Company. Tners Is good reason
for believing that one OF the important mat
ters which VIII be taken up later on will
be the establishment Of closer relations be-
tween the Chicago and Northwestern and
the New York Central in the matter of
ownership of securities.
n
According to a Berlin dispatch fI50,0o9
gold reach there from Russia during the
week ending March IL. For the week end
Ing March a. the arrival of Ct SOC, COO has
been arranged for. All of this gold will
eventually reach the Reichs Bank 1t Is
explained that the movement Is due to the
placing of $4,000 900 Russian treasury notes
In this city by the bankers of that country.
=
Paris bankers are Offering to Germany
the Russian notes placed in France in 1904.
These notes carry a preference over any
loan which may be offered by Russia in
Paris. Paris has been Withdrawing lately
her foreign balances, and there has been
shipped from Russia to faris f2000,ooo
gold.
The Journal of Commerce estimates the
April dividend disbursements of the prin-
cipal industrial, railroad and street rail-
way corporations at S64, 772. 425, compared
with S3s,1l7,s73 in March. 1t is estimated
that about si0,o0o,Oo0 of the total will be
distributed next week. many of the divi-
dends being payable April 2.
N
1t Is announced positively that the Nor
folk and Southern Railroad, the Virginia.
Carolina Coast Railroad and their lumber
interests are to be merged, with an author
lied capital stock of S25, 600, 900 and with
bonds amounting to S25, 100000. The track
age of the merged roads will aggregate GOO
miles, and the lumber merger will bring
together eighteen miles. with an output of
100 1000 900 feet annually. The company will
own 6tho00 acres of timber land in fee and
a timber stumpage of 100000 feet
4
There is to be meeting of the stock
holders of the Diamond Match Company at
Chicago May l to vote upon the proposed
issue of 81, 100000 of new stock. Holders
of 100 shares OF old stock can subscribe
6 % shares of the new stock at par. cash
new money Will be used to liauidate debts
on California properties and to provide
funds for increased facilities
A Birmingham dispatch says that a prop
osition to build large extensions to the Ten
nessee Coal, Iron and Railroad Company's
plant there was discussed at the meeting
of directors held yesterday, and that the
matter will be decided at another meeting
to be held today. John w. Gates and Grant
B. Schley, New York, and T.. C. Hanna of
Cleveland were at the meeting.
Ball & Whicher in their letter today say:
Indications so definite for easier
money conditions after the first of the
month, and 1t is also admitted that the
conference at Algeciras will reach an ami
cable conclusion. and, furthermore the
fears Of the threatened coal strike are be-
coming less and less. Under these eondf-
tons 1t Is reasonable to assume that the
market will break away from the dullness
which has prevailed. and activity will be
resumed with substantial advances through
out the list.
At hearing before the Minnesota rail-
road and warehouse commission at St
Paul yesterday on the schedule of rates re-
Gently reported in conformity with reso-
luton passed by the last legislature order
ing reductions on ten classes of commodi-
ties, attorneys for the railroads declared
the new schedule would mean a reduction
OF more than $4,000, 600 In the companies
earnings.