Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-07-24
June 80 will be q surprising and pleas
ant revelation to stockholders.
b. 4 O.'s Good Showing.

ant revelation to stockholders.
B. & o.'s Good Showing.
They say that the statements made
by the Baltimore and Ohio, which is
already in, and which shows an in
crease over the preceding year of $12,-
000, 900, or 16 per cent, is illustrative OF
the general railroad situation. Such
exhibits as this may have an important
state commerce commissions decisions
with regard to the proposed freight
rate uplift. but that can't be helped.
Figures are figures. and with the ave-
nues Of information now open to the
public as to what the railroads are do
very great extent.
The definite facts as to the Pennsyl-
vania, New York Central and many of
the other great systems east and west,
within the next thirty or forty days.
These statistics as they are published
day after day and week after week
are expected to have stimulating
effect on speculation. They will dis
prove much Of the calamity talk that
has been so freely and unpatrioticaily
INDUCED in during the last six months
or longer.
The market action OF late has encour-
aged the professional element to stick to
re-
suit has been very material enlarge
ment of the short interest. The market
has on several occasions yielded easily to
raids, but In every such case prompt re-
coveries have followed each such occur
renee, leaving the market technically
stronger than before.
Bulls Advance With Care.
The bull leaders, for the market seems
at last to have some intelligent concert
Of bullish action, have been careful not
to alarm the shorts any more than neces-
sary. 1t is to their interest to keep the
short interest as large as possible for use
when 1t is needed to give prices big
whirl. There are no buyers as eager to
bid market I'D as the bears when they
become frightened. They think If they
impulse seizes them they will never be
able to save themselves. Panic-stricken
bears are compulsory bulls of the liveli-
est kind.
The action of the railroads in volun-
tarily moving in cooperation with the
interstate commerce commission in the
matter of pOstponement OF rate advances
is producing good impression. 1t con-
firms the theory which railroads would
like to impress upon the public that the
fight has been knocked out of them and
that they will be good boys hereafter.
In this connection gossip has 1t that
President Ripley Of the Atchison may
really retire from the head of that road
because of his bad break In openly an
tagonizing the government and Congress
some time ago and predicting ruin II the
proposed raise in rates were interfered
with 1t is hardly believed. however, that
this will happen, as Mr.. Ripley has seen
the error of his ways and has done the
best he could in the way Of repairing
whatever harm his im2rudent remarks
may have done. Mr.. Ripley has been
<al 49, Lido
i'm Wall street and by wholesale newspa-
per criticism. His lot is not happy one
and he is a much chastened Individual.
Heavy August Disbursements.
During the month of August dividends
and interest to the amount of $87, 900 900
Will be paid out by corporations in the
United States, most of 1t In New York.
The largest previous August distribution
was q year ago, when So, 100000 was
passed around.
The nine months decline in the stock
market, with its attendant depression, has
been reflected in a decline of more than
SOS 600 in the price OF memberships on the
New York Stock Exchange. On the LOO
seats this represents q shrinkaGe of about
$2SOOO.OO0.
Since the beginning of the year Stand
ard Oil shares have declined points,
and there appears to be considerable mis-
cellaneous liquidation by small stock
two weeks about 1,5O0 shares have been
sold on the New York curb. and prices
are down 30 points. Continual litigation
and fear of an adverse decision by the
Supreme Court next winter In the big
Standard OIL case are given as reasons
for the shrinkage. Four years ago Stand
ard Oil sold above $500 a share. Shares
are now well under 5000.
Looting Of Metropolitan.
The excessive generosity Of the old
directors and big insiders in the looted
Metropolitan street car system in coming
forward with $500, 600 to pay of urgent
claims against the bankrupt companies
and effect a peaceful settlement puts an
effectual quietus on any hopes which
might have been entertained Of getting
at the true inwardness of the greatest
scandal in high finance ever known in
this country. Most Of the contributors
to the immense hush fund are people Of
eminent responsibility.
The sensation Of the week was reserved
for the latter end. 1t came in the form
of q cut Of a fraction in the quarterly
dividend of National Lead common
instead Of 5 per cent as heretofore.
The action was construed as an open
rupture between the Guggenheims and
Standard Oil interests. a mistake grow
ing out of a confusion of names. The
president of the National Lead happens
to have the same name (Cole) as that
borne by the head of the Cole-Ryan-
Rockefeller copper mining combine ton,
although they are two separate and dis
tinct personalities. Anyway the general
market was smashed all to pieces and
had not entirely recovered UP to Satur-
day The other big sensation was con-
firmation Of copper deal for the cur
tailment of production. That an actual
merger will follow is q foregone con-
clusiOn.