The Washington times., 1907-04-14

Spring requirements will necessitate
some movement of currency 10 the in
terror shortly. Wall Street sees moth
ing alarming in this, however.
For the first time in fifteen years quo
tations on number of the ComstocS
mining stocks were sent out over the
Stock Exchange ticker yesterday.
Next Thursday is the day for the
meeting of the directors of the Amaiga-
mated Copper Company for the purpose
Of fixing the dividend. No change IS an
ticipated from the present rate.
Two more States, Pennsylvania and
Minnesota, have been added 70 the list
of those which have enacted legislation
compelling the railroads operating in
their territory to transport passengers
at rate not to exceed , cents a mile
This is the season for crop damage
stories ana the taIe-bearers are making
the most of them. There is evidence to
the effect that these rumors. as usual,
greatly arc exaggerated.
one of the interesting facts revealed
by a study of the results Of the down
ward course Of bond prices during the
March decline is that the level which
was reached at that time by the highest
grade railroad issues mas been almost
without parallel since the depression OF
1898
As the United States steel Corpora
tion has enough orders on hand to keep
il busy until the first of next year. a
contraction of business would not hurt
il during 1901. The Steel issues continue
10 act well
4 COMPARISON of the prices of a few
dividend-paying steel and mining stocks
show some glazing Inconsistencies. The
percentage earned on the stock seems
/ 10 pIav no part in the regulation Of the
price cot the security, although this
would seem 10 be a most important fac
] tor for the consideration OF the inves-
/ tor.
1t is reported that the plant of the
/ Monterey Steel and Iron Company at
/ Monterey. Mexico, is about 10 pass into
/ the hands Of the United States Steel
| Cornoration There is some talk that
the Federal Government is opposed TO
| the Steel trust gaining control OF the
steel and iron business liz Mexico.
The average prices for twenty leading
/ railroad and twelve leading Industrial
stocks show ten and eleven point
rally. respectively from the low point
/ OF the year on March >. AT Wcdncs-
days close. II is Of interest at this time
I to note where stocks stand in compart-
/ son with corresponding periods Of sew
| ersl previous years
Increased wage schedules this year
/ will cost the St Paul more than 81
1 10000 and this. together with the report
/ that the management OF inns company
] will abandon work on the $lo9Wa"e'
/ Pacific Coast extension. gives support 70
{ the stories that the company VIII 90
I some retrenChiuC in 1907
An entirely new anti-bucket shop bill
has been reported to the Massachusetts
! house bv the committee on judiciary
I II is more far-rcachiHg than the one
/ recently reported. Conviction of buck
| citing viii entail punishment by me OF
! $1,000 or one years imprisonment sec
/ Ond offcnseE will be punished by a HNe-
I year imprisonment. Continuing 10 Keep
/ n bucket shop after the first convection
/ shall be- deemed a second onenSe.
The betterment OF the bond market is
( taken to Indicate an Improvement in
] the stock market within reasonably
/ short time II is natural enough that
. a rise i'm the price Of bonds should bring
/ about am advance in stocks. the former
/ being the Investment security, and OF a
/ better class than the other.
The conclusion of the negotiations by
/ the Wabash railroad company Tor the
I sale of S6.l6JoO0 new LWO-yeaF . per
( cent notes, the proceeds of which VIII
/ be used to take care of an equal amount
/ of short-term securities OF tnat COM
I pany, which mature on May ~, leaNe9
/ but little of the important reunanclhs
/ which has been in sight for the current
/ year, Unprovided for.
/ 4 remarkably satisfactory showing ON
/ its business and that of its subsidiary
{ concerns fCr. the last calendar year IS
made i'm the annual report of the Rub
/ her Goods Manufacturing Company. Inc
! report records substantial gains in gross
/ and net earnings and surplus. AT the
I annual meeting OF the stockholders the
/ report was approved and consra tuia-
! lions and thanks extended 10 the dlrec-
/ tors, who We're unanimously reelected
! Shorts have beer warned that thev
are traddiug on dangerous ground ia
!
4 apparent that the latter has been letC 20
/ shift for itself in the main. there haV-
Z ing been little or no effort made 20 sup
port il. The bears have succeeded in
/ keeping. or at least putting, the copper
/ stocks down on the lower prices for the
| metal itself sent out from an exchange
| which docs not reflect the proper quo
/ tations. and this has affected railroad
and industrial stock prices as Well
/ While the more conservative element
! in the board of directors of the United
/ States Steel Corporation is not favorable
| to an advance in the dividend rate on
/ Steel common at the present time, il
/ sim is insisted that the Morgan Gle
/ ment desires to bring this about. 1t was
1 the Morgan influence that forced the
/ dividend on this issue in July last and
/ 1t is regarded as probable that The dec
/ laratiou may be at the rate of 4 per
cent next july. INC action of 49,
| stock has had the effect Of making the
shorts very nervous. as il is amorg the
first to rally.
BANK EXCHANGES EQUAL
AVERAGE OF TWO YEARS
r1,r.lv 1laa rir, ero chou gor4;v.,o4 -