Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1914-06-24
Passing Impressions Of Finance


ful watching as otherwise thew NAV
De expected to carry away unbidden
all the portable property they can lay
tnelr hands on. Placed as they are in
this attitude by the politicians, busi-
ness men are more to be pitied than
Gensured as they were recently by the
PRESIDENT, WIN they venture to ex-
press their opinions about the grave
DANGER to prosperity there Is in too
mucn harassing of trade by legisla-
| poh' But when they raise their
voices In protest at once the cry issues
from washington that there is a con-
spiracy on foot among business men
ana corporations to side track all
trust laws. If this is not hysteria,
please let some one define what is.
one or the sick railroads is about
ready TO emerge from the hospital; |
the potent is the Rock Island for
which this week its financial doctors
nave ais'eed upon reorganization
plan. Inc two holding companies are
entlrely done away with. 1t was about
time for there was nothing ever that
originated from the mind of men bent
upon tooiing the American people |
possessing such clownish such clown
lsh and deformed liniaments as tho Sc |
two sickly shells in which the old
ROCK Island was incased If they at
any time had anything behind them
tney could never be called more than
wind, water and consummate greed.
Both the collateral bond holders and
the preferred and common stockhold-
eUs of the holding company will have
TO contribute cash for which they are
TO receive new preferred and common
STOCK of the old railroad. In this way
1t is anticipated $30,000,0OO will be
raised. The week just closed has
brought forth evidence of a revival in
in
bankers quick to discern such a sign
are making ready to float a number Of
such issues. Before the month closes
at least two large bond offerings will
be made; inc of S12,5OO,O0O of first
mortgage per cent. bonds of the
North Western Elevated, a part of the
chicago Elevated Railroad system and
which will be partly secured by sSO,-
OOO,0OO OF that company's notes. The |
other issue will be 100000 long
term per cent bonds of the Virginia
rover Company, public service COM |
pany though comparatively new has
made rapid prgress in it's territory. |
The Commonwealth Power Railway
and Light is also guarantor for a |
s5,OOO,OO0 issue of Michigan Railways !
nVe year gold notes. If the three Of |
ferings meet with success they will be |
followed by other offerings.
The losses sustained by the Federal |
Light and Traction Company from the |
fire at Hot Springs which nearly wiped |
out the local company have been
about overcome and the company un-
der stronger disrectorate and man
agement is again making good prog
ress. The annual report of the Mid
die West Utilities Company, one of
the enterprises in which Samuel In
sull is dominant, made a good show
ing. The earnings almost doubled in
the twelve months
AS for the stock market it has not
been In years as listless as during the
past week. The daily trading has
not exceeded a hundred thousand
shares and on some days fell below
that figure. Small are the pickings
of the one thousand stock exchange
members. For the year up to the
present the sales have shrunk nearly
l3,O0O,OO0 shares. If expressed in
commissions brokers have lost. it runs
close to s2,000.000. Mind you. this
comparison is made against 1919. it,
SELF dull year. AnL yet the mem
bers of the Stock Exchange are not
dispairing of better days Their pa-
tience is that of Job.