The Washington times., 1907-08-12

Urgent OIue1S 10 support tne market
were sent in after the first few minutes
break 1t looked as If financial In
terests which have been anything but
bullish on the market position were
forced TO support their own specialties
and even the general list in order 10
keep the market from getting out OF
hand altogether.
Directors of the Canadian Pacific Rail-
way Company will meet this afternoon
70 take action on the semi-annuaI divi-
dends on both the common and pre-
feTred STOCK. It IS not expected that
any changes viii be made in the rate
on the common stock, and IL is tfaught
unlikely that any action will be taken
from land sales.
Not IN recent years has there been
"A financial situation so difficult 10 un-
derStdnd as tnat which now presents
itself There are indeed certain facts
plain &c everybody, but the relation Of
these facts TO each other and OF all
tho facts to the unfolding Of the future,
II seems impossible 70 determine.
The three large electric companies in
the first half OF the current fiscal year
showed an average increase of more
than 80 per cent I'm orders received and
sales billed as compared with the cor
responding period Of last year SO far
as increased business is concerned, this
establishes d new high record.
Almost $4,000 a week Is 10 be spent
by the United States Steel Corporation
IN improvements and extensions in she
Fittsburg district. This is the announce
ment made by one on the inside Of the
corporation workings and that 80 IS no
Idle boast IS shown by the fact that
the corporation now is spending SlS,-
10000 In six months rather that amount
and that IL will all be spent goes with
out saying That the same amount at
least VIII be spent the following six
months is promised. making a total OF
S3S. 600 for the twelve months or
more than 10000 weekly.
It is still believed that II. c. Frick
and an important part of the Standard
oil followers have been selling stocks,
having grown tired of holding the mar
ket UP with no public to relieve them
OF their burden. Inc selling at any
rate has all the marks Of coming FROM
some large and powerful interest.
There are a great many new railroads,
extensions. and improvements TO exist
ing lines under way and projected in
Mexico The Federal Government has
granted a number of important COnceS-
sions for new lines during the last few
months. and applications for others
are pending.
July was the bulls month. He took
the stock market in hgnd in the first
week Of June at a point where the
average price OF twenty active stocks
was % 81. and in the first week NJ July
he lad established for those same stocks
an average price OF 1923 Thereupon
he proceeded to raise a great dust, IN
the midst of which he probably sold
few stocks. II he did not it was a
: waste of energy.
The report that John w. Gates is 10
live abroad is ridiculed by his friends.
Wien Mr. Gates sailed for Europe he
said he would return home about the
middle Of october. Mr.. Gates has
leased an expensive suite of rooms in
the Plaza Hotel, which viii be ready
for occupancy the latter part Of this
year. -,
country are large. He Is ono Of the
LARGEST stockholders in the Republic
IRON and steel Company. Tennessee
Ccal and iron Company, United states
Realty and Improvement COMPANY,
Moose Mountain ore Company. Texas
OIL Company. besides many other cor
porations He mas leased office space
In the Trinity bJilding, where he will
make his Headquarters on his return
from Europe.