New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-03-27


tined % BY conservative mercantf.
agency reports. maintain high prospor.
Gus levels II seems certain that amir
tension Of stock market disaster i4 i'm
aginstive-that All facts point % IN
ward development.
Rallrfad earnings, both gross and NET
are satisfactory. And railroad earnin-,
are. in the final analysis the ultimate
test 81 good or bad times. There Is moth
ing 10 arouse fear ~ impairment n
present dividends-there IS much 10 In
duce reasonable anticipation Of increased
dividends
lIarkctwise, United States Steel COM
mon stu maintains natural premier On.
sitlon That the prosperity OF 1909 win
be more than equalled by the prosperity
Of 1910 Is now assured The earnirrz
OF the Steel Corporation continue 10
ascend-not by any artificial trads
manipulation, but by reason ~ actual
growth OF demand for every product that
the steel Corporation can turn OUT IN
view OF this fact 70 may be stated on
good authority that a number Of impor-
LanA NnflAeAlAnAH wa Nr N-lANt'N NAlef.Al Ul|a
ing operation in the common stock
which. without aggressive tactics. fore
tells accumulation Of effective kind Tbs
particular purchasing. perhaps more Or
less speculative. is undoubtedly based
upon the belief in an increased dividend
next month. and may be Of market IN
fuence during the next month. Ca-
tainly something more than the present
4 per cent can logically be counted upon
Trade conditions and money marke. con-
ditiOns combine % favor such aston.
And from the technical point Of view 70
must be borne i'm mind that there stil
a heavy sleeping short interest 1 Steel
common. The movement Of the stock Is
not viOlent-dOes not scare the shor
selIer-hence the maintenance O. tls
short position which finally is Likely %
suffer the punishment IL invites.
Almost every day brings some revels'
ton Of the working out Of plans for The
further wholesome concentration Of con
troll both in the industrial and railwaf
worlds. In the Vanderbilt quarter this
has recently been especially notable, and
IL probably will have quite equal dis
closure in the PennsyIvauia's pOlicy
soon. while plans I'm the South and West
20 which Mr.. Hartman throughout rs
last year devoted himself have by no
means been abaudoned-are in actual
course OF conclusion. So broad Is ne
policy undertaken that 10 can be fairly
counted upon that hardly an impOrian.
corporation Is participating. IH
general aim. and what is felt by thosa
in authority % be sure Of accomplish
ment. is the putting into operation q
administrative economies OF vast conse-
ouence. What is exceptional in the cur
rent programme shows i'm the fact tnA
the East. rather than the West h1'
leadership-som distinctivey az
ferent from what I'm recent years n-'
been che railway development ruie pr
cidentally au increased Fenns! wanna
dividend is forecast. even ahead OF III
pressive announcements that are Jo com.
New York Central not leading the Wey
% increased disbursement % lnfes.c.s
without an understanding which may "
counted upon as even cooperative
In any early market improvement New
York Traction stocks may bee eXpectsd
90 figure Friends of the iuterborousn
are forecasting amicable municipal ar
rangements which VIII permit suoWI
expansion at a date much earlier tnal
hitherto calculated. while in bfo'Se-
Rapid Transit there are evidences OF ,n
side preparedness Tor helping secu'i"
market strength.
Hawley interests. recently mlr"e'"'
auiescent. are getting ready for new
demonstration I'm Chesapeake a cH'
Point Will be given 90 references
Gently made In this review as %
United states Rubber Companys pl's
peritv by the exhibit Of net e3rnils
which will be forthcoming tollowins
fiscal wear ending this week 9iViaeyr
uron the first preferred stock, ana
additional dividends upon the se'oD
preferred. viii be shown. supp.eule'
bv SURPRISES that make sure-nscss
eventual distribution 81 large
dends upon the common stocS'
per cent which 81 being paid upon nv,
states Rubber first preferred can oe
also upen United states Rubber COMM
and stlH leave SURPRISES. Cohu-
like this. Of course. puts this MS.
ferred stock into an unusual inV9''..
oosition-what is regularly paid w.. .S-f
being earned over and over -
again Yet for some curious
,,,r,arenr Investment OVers.SEt . ~
thlls assured per cent. secuIlss ~ t
ing nearly twenty points below
will vfe,d 6 per cent. 20 ITS hoioo-.h q n
Npart from the intrinsic s'5en- prb.
IN. Dosffiou of the United StassH 800 Il
her company is the nliuercils ,r1rl A.
-, am tht. financial markets OF .uo .rgt &
rubber securities are SENSATIONS" \, rrs-
and buuVaut thiS upuiyms l' u.~tips--
duclng and m1nufuc turing p,vrs me-
thfs v-rv week. pputhtr new h's- r,,a M
~, rrr'-. rsvira been reached ioi ~.
hrr tb,. mutcrlgl. while come i"' ..''.o,lrsr- II
.,sr ruln+S from autGorl@lNr onto IL
.rill oe,.n.its chat the dymands ~ IN he IA
u,,,bit,. manufacturer alone wl'' ~ ~ III
wear for tires suprudOusy pvs
i0us estimates. b.ras (rtl
Intrrcontincntal Rubber si"' ,'.,sri.sf H
resrntiUg the only stahu"lu orelin'
primal prcducerl snow "S'.e. sr,rl on
i,,,r,- 49, their being trunslerrrI ~ tl
a,,rr ,,,.Eet Ia the regular .lst orr n
Stock EXCHANGE. LONDON '"" 49,. wees
lbo.ses ~ the stock have been '"e 49, "A
f.,t,,rss s.beOrhing the Ouerihss - .
.,,'.,,,,fatn~s as we're fortunate 49, II
81, mo the stock az the inclp.ss,,s-r'-
the Dresent movement ~ 80 a II
~ be made 90 the stock ENenS ,sisrsl
sSo0- dividend prospects--and pa ,,~~,.,s
i've sNhibit will have cNceptionss-.. 600 IA
went influence coming Iron a,arl-
Of The character or Mo''
Baruch aud Rockefeller ,rAVAf