New-York tribune., 1909-07-18

Il is natural OF courss-actuaIly unavoidssN
that the insDlriting strength in United s'a'as
Steel Corporation securities should extend inio
the stocks Of other standard iron and steel prop
critics. and this is illustrated By the way WaeA
Southern Iron I'd steel shares. 70 which attsa
tion was drawn here last week. are becolllhs
active on the Curb The common shares AAl9
advanced Irom an opening price OF l0+s % =
and the preferred from 5SSs 70 55-s. 4 , ~
a well established fact that owing to The proA
unity OF the ore and the coal lands II the >eSE
iron and steel can be produced conslcsf--sS.
cheaper than in the North-undouo oteay. - -
fact inducing the United States steel CoT2oEs
ton TO buy the Tsnnessee Coal ana 4IoH 90
pany. z.,s-
There is Importance in the property exhia.
OF the Southern Steel Company whose capas,r. ap,.
is over 7.000 tons Of wire per uonr1. N adu.-.
70 10 600 tons OF steel $4,000 tons or pig -
$4,000 tons or coke. $4,000 tons Of iron org a. -
approximately 10000 tons Of coal lncioea- -
10 its wire mill and steel Plant there aIS - -
pig iron furnaces. over sou coke ovens So
modeTnly equipped coal mines Ihe coI-ss- s-s
lands are over 10000 These represent pEsss----s
conditions-plans in progress proposlns - -
increases OF output frOn both coal ana l.OE
mines. Thus upon the SI,000o00 preIeItsu ~sr
dividends may be counted upol as sais-'ss 80
six per cent already avallabe-nlaNlhs s,r
stock az its present price Weld an 1850
nearly twelve pe1 cent or about four times W W
a lender can obtain from money borrowers - -
The conapany's board OF directors tncIulsss tncIuss n
the upbuilding OF the property oSlnS "a Van
Woodward. Otto T Barnard. Robert =
Cortlandt. Cornelius Vanderbilt and Cs..,
Grenfell--ths latter a member OF an lnnpo.ssss-
banking firm in London, through when CO $500 -
tiou il can be stated that there has recehe-5
large European absorption OF both ths 80 80 .Es
and preferred shares. A continuation = S.ssr
stocks advance win be. Of course. s4l1s,-
natural
During the coming week it may be sxpso
that pronounced tests viii be given the mars
1t viii be necessary to make II possible 70
mand public following. necessary to round
a broad natural market. that developn9N
carry the market situation beyond where
circurseribed within the boundaries OF a sAs
stocks influence Steel starts enthusiasm 80
stock advances encourage confidence. N,ar.
there is to be public participation III tls 80 fss
ket's revival absolute necessity requires .ssT
transmission OF activity and strength u
parts of the market. 49,. IS
In the Eastern Trunk Line situation tns.~-sf
ample warrant for enthusiastic 49, O-s Sor
Pennsylvania premier Of all--has no - 49, nv
lagging If market betterment can slVW .ysrs
where. It's enemies have been routed a. .as-
turn-though they have been myriad every
sirnistic prophecy they have uttered = ysrk
by swelling tides OF prosperity, ss,r ds-
Central and Erie, under Hartman SS-ssgsrrsd
serve 10 be close seconds. Er1e > PA--~,{cs
stocks are among the dozen foremost S,outs
on the Stock Exchange. And IN tHs ~ II.
there Is similar profit opportunity l0E -~ at
vestor- Southern Railway common ,tE-;s.cis
barely $50 per share is on its way 20 ss.- fhs
AS Nill be clearly revealed not long l5es--ops.
weeks return Of Mr.. Morgan from a. ocf
Critics who recite that Canadian Pael-s upon
to take the Ontario and Western lay 81 sus n roy
their belief that the New York CsntI@-- dts8
ready 10 make higher bid. The CA-
Pacific bid is said to be above sixty .wAT.