The Washington times., 1909-05-18
Chesapeake Ohio Nzu Brokers B Bonds
NEW YORK STOCKS VERY DULL AND
OPERATIONS OF A PROFESS
SIGNAL HUE.

NEW YORK, May 1s-2 p. m.-The
stock market is dragging along at
about the level of last nights closing,
dull and featureless. About the mid
die of the morning stocks had gained
from half a point TO a point, with
Chesapeake and Ohio In the lead, and
the rails of the Hawley group follow
ing closely. on persistent reports of a
deal which may land the Chesapeake
and Ohio with that system. Since noon
the market has been slowly receding,
and at this hour is about at the OPEN
ing level
Trading is In small volume. commits
sion house orders have largely disap-
peared from the floor. and operations
are professional in character Commits
sion houses have been sending out tc
their corresS Sondents cheering reports
all the morning in the hope of inspiring
the belief that the market would have
n good rally this afternoon, but up TO
this time there is no sign of such a
happy condition Undertaking..
The failure of Tracy s. Co. is talked
OF freely on the Stock Exchange, and
a good deal of mystery seems TO pre-
vail about the cause and the extent OF
the Liabilities. Tt was stated this morn
ing that neither the cause of the failure
nor the amount involved could be OBJ
tained from anybody in authority about
tho offices of the concern affected. Mr..
Tracy was known to be a large holder
OF taxicab stock, and the slump in that
security due to the strike IS generally
assigned as the immediate cause of the
downfall OF the big house. This. how
ever, does not seem to cover the entire
ground, and it is limited that other ele
nents will be found to have entered
into the embarTassments which brought
Or the closing up of the frm.
NEW YORK. May Is. u o'clock.-Lit-
lie change is seen in the condition of
The stock market today. The opening
was unchanged to a shade higher for
most stocks. and in the early trading
the majority of the list moved upward
stout fractions. Chesapeake and Ohio
made the largest gains, selling up more
than a point in the first hour, on the
strength OF the newspaper reports Of
the morning tnat this road will enter
into a combination with another line.
Reading was weak in the early trad
ing. sut stiffened up with other leading
rails when Ii was seen that Chesapeake
and Ohio was being supported for
rise.
Up to this hour most stocks have
StiON4l a rise lI nan a pOAIls ana NAteEt
Is the usual amount of bull talk about
n stiff rally during the afternoon. The
market Is steady at about the levels il
has maintained since last Friday, and
With tfe exception of the upward swing
of Chesapeake and Ohio is featureless.
II Is somewhat difficult TO square the
hesitancy of the stock market with i'm
proving business conditions, the crop
outlook and other evidences of better
nent in the business and commercial
world. Stocks like the backward
sfTing. refuse to warm up faster than
seems 10 suit the manipulations of the
men who hold the fate OF stocks in the
hollow of their hands. and apparently it
does not suit this clique TO allow the
market 70 follow the logical course at
this time.
NEW YORK. May Is.-The largest div
idend ever declared BY 4 trust COl"pony
by the Central T-71st Company. amount
ing to 200 per cent, or 500 on every 1i0o
share OF stock outstanding of the com
pany The trustees also declared a new
stock issue OF 100000, Increasing the
capital stock 10 $1,000, 600. and voted to
TO subscribe to two shares of the new
stock for each share of the old that he
or she holds BY voting the 900 per cent
dividend, the company makes IL possible
for the stOckholder TO pay for their
allotment OF stock out OF the earnings
OF their original holdings Since its or
canizatton thirty-four years ago, the
Central Trust Company has paid 10 its
stockholders 1850, 900 in dfVidends E.ot
Including that declared today which
7otals s.. 200. 900 additional and il is stated
lby the officials that. after tOdays diyi-
idend is credited, the company will sin
have a large surplus