The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-12-22
OPERATIONS ARE
PROFESSIONAL
Louisville and Nashville and
Lehlgn Valley Centers
of Interest
GOULD PROPERTIES
ATTRACT ATTENTION
Denver and Rio Grande Is
sues Disturbing Factor
New York Central Pre-
pares for Big Bond Issue
Ry THOMAS G. sHvrWt.II.


NEW YORK. Tee. 1t.-~Movements
Ia tho stock market teday Mere en-
tirely Arotesstonai, and Seemed to
represent nothing mare than the
usual evening up OF contracts that
takes place before every important
honday. All tho stock markets OF
the world observe Christmas. and the
American markets Will close tonlor-
row Afternoon, and Viii bot open IN
III Tuesday morning Trading was
on light scale Also.
Louisville and Nashville and Le-
high Valley attracted moSs attention.
lAhiyh Valley advanced IA points
~ result of the days eperaIons,
knd Louisville and Nashville declined
s1-i points. The reason was the
same fot both. which proves that
n@ws Is bull3sh or bearish, according
to the technical condition Of tha mar
ket Many professionals had been
expecting extra div idends on bvtn
ocks this week. Both stocks are
worth what they are selling Tor, out
both have been manipulated By In
Siders. The only difference In the
handling II the two stocks was tna;
one director OF the Louisville and
b trustee OF other peoples property.
and when the regular dividend was
decided on al an unofficial meeting
Of Thursday last week, he let II be
known, and the fact vas published
In this column. Other directors who
had planned to make the innocent
pubic pay far their christmas pres
ents itnme diateiy denouncea that pub
1icatjon as premature. which It GER
tainiyy was tut enough traders
were inisied by the denial TO furnish
h merry Christmas. and tho break
cf today Is another proof that pub
LEFTY Is what the corporations need
most.
A.uEgenhein,s Make Statement.
The Guggenhe.ms are the great ex-
ponents OF publicity. Snd toaay they
informed the public that they per
sonaily are not interested in the
Federal Mining and smelling Com
pany, anu that the only interests
the American Smeiters Securities
Company has In II Is that It owns
control. The Guggenneim statement
was unfortunate. tor. while It was
not intended TO mtsiead the pubic
X dtc have that effect 1t is true.
Is stated. that the SHELTERS secnri-
ties COMPANY Rs only nne-slALh- Oh
the capital stock or the federal Com
pany. But capital OF the Federal
Company consists CT Si2,eoe.ooo OF
preierred stock without voting pow
II and ss.eoo.ooo par 81 common
Stock that does vota. The one sixth
iniarest referred 10 consists ~ ABOUT
$3,50C. 900 par or one-had the cottt-
mon stock, " ich means absolute con-
troll. Federal Smelling did not earn
IT. dividend for the last quarter, but
IA Hl
ness Is the new policy adopted hy
The tsugsenhe.rns OF letting their
various stocks take care or them
selves In the market.
cAnysr and kio Grande OISsuFbeFs.
Gould attracted attention again ~
The usual way. This time the dls
turber was Denver and Rio Grande,
fhs preferred stock Of which sold down
to IS, which Is tho lowest price II mas
touched aimee 1881. II has been ali the
way up To 1n5 IA In the meantime
Nov II is displaying family traits
that make Wall street believe reor
sanitation may be coming for 1t as
we'll ~ Tor Wabash. The trouble
with 4,cny.r Is that It guaranteed the
bonds issued tor the binding of the
Western Pacific. The large Earnings
II has reported have consisted part
II OF interest on those bonds paid by
the Denver I'll real money, but PAID
by the Western Pacific In the shape
of a bookkeeping entry on the credit
S3de Of Denver's ledger. Thus, while
Denvsr's earnings from operation have
been sufficient to pay its Own way
and while II really has cash enough
on hand now for all corporation needs,
the Western Pacific Is threatening TO
become too much OF d burden I'm
der proper management the Denver
with its Western Pacific extension Is
one OF the most valuable pieces or
railroad property In the West but
Cooperate With Neither.
Bankers who have followed the
Wabash Pittsburg Terminal and the
Wheeling and Lake Erie receiveFships
are advising their clients not to de
posit their Wabash bonds with either
OF the committees thatt have been
formed II any settlement is made
with any bondholder every other bond
holder can claim equal rights. The
fact that bankers are 50 anxious to
secure these bonds that they arc Will
ing 10 advance the interest tor tn.s
quarter justifies the suspicion that
xDnlH railroad system Ii hack Of them
Such has proved the facts IL nearly
Al other cases OF the kind. IT there
phould be q contest for control those
bondholders who retain the securities
IN their own possession will be in posi-
ZION =, har~ain with the side that of
6Ara the better inducements
Now York Central Bond Issue.
New York CeGtral's note issue of
Slb.oo0,0o was announced today by
Morgan Il Co., and rumor Is busy
With an $s06e0,000 bond Issue early
~ the new year hy the Central The
Nan OF consolidating all New York
Central lines under one company Is
0sjng talked OF again and the bonds
Nfs said TO BIZ part Of that plan. 1, Is
much more likely that the money Is
needed to finish the terminals in New
York City.
Number OF shares sold today, 377,-
ia: Z year ago, zi:,sos.
Par value Ut bonds sold today. s4.-
1S9, zoo: u year ago teiss,eee
NCmeY MzsA. - ll,,ll