Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-02-13
ADVANCE IN ROADS SECURITIES
GIVES RISE TO REPORT 1T
WILL BE ABSORBED.
SAID EITHER 500 LINE
OR c. N. is AFTER ROAD
President Newman Erb Declines to
Discuss Report That N. & St. L. May
Be Absorbed by Northern Road
Stocks and Bonds Have Advanced
Rapidly in Last Week.

Is the 500 Line or the Canadian
Northern after the Minneapolis & ST.
! Louis? That is question that is in
| teresting railroad financiers and brok-
ers in New York and Minneapolis.
This interest has been aroused by the
/! unusual activity of the stocks and
bonds Of the NJ. e.. st. L. and bonds
Of the Iowa Central on the New York
market. This has given rise to many
conjectures that there was some strong
influence back of the sharp advance
of these securities One common
rumor is that the 500 Line or Cam
| adam Northern may take over the NJ.
& st. L.
Preferred Stock Up Ten Points.
President Newman Erb, on being in
terviewed. declined to make any state
ment that would throw any light on
the situation. The Minneapolis
Tribune, under date of Feb. 10, prints
the following story from New York on
the situation:
New York, Feb. 10-Both investors
and spectators in Wall street have
been watching closely the sharp and
steady advance in all the securities of
the Minneapolis and ST. Louis Railroad
Company. The preferred at 80, where
it sold yesterday, is 10 points above the
lowest quotation this year. The COM
mon, at 10 H.. is up over points. The
first refunding, 4 per cent bonds en-
Joyed a point rise in yesterdays mar
ket, selling at 55, which compared with
the lowest quotation Of 40. Iowa Cen
trail refundins As at So, the highest
quotation reached yesterday. are 20
points above where they sold earlier
in the year
Erb Declines to Talk.
Newman Erb, president of the Min
neapolis and st, Louis. who returned
from Chicago yesterday morning, said
that there was no statement that he
could make relative to the report in
the street that one or more railroads
We're considering the acquisition. of
controlling interest in the property.
Wall street heard that the 500 line
and the Canadian Northern We're nego-
tiating for it. It is true that soon
after Mr.. Erb went into the Mime
apolis and St. Louis plans were begun
for connecting the lines of that com
pany with the Canadian Northern,
and for thru trackage agreement from
it's southern terminal to hitch up a
line all the way to the Gulf of Mexico.
Railroads Are Associated.
Sir William Mackenzie, one of the
two dominant interests in the build
ing of the Canadian Northern, has long
been associated with DR.. F. S. Pear ,
son. of London and New York. who
some time ago bought a substantial I.
interest in the Minneapolis and st. |
Louis and since has been associated
with Mr.. Erb in the management Of
the property. His son. Ward E. Pearson,
is a director. Because eofath general
depression in the financial markets and !
the unfavorable outlook for the rail-
of a physical connection with |
the Canadian Northern was dropped |
for a time.
"Erb called attention yesterday |
afternoon, in connection with the pro-
advances recently, in the /,
securities of the Minneapolis and St. |
Louis, to the excellent earnings during
the first six months of the present fs- !
cal year. or from July 1 to Dec. 81,
and added that the Minneapolis and ST.
Louis was the only road in it's terri |
tory that did not show large decreases
during that period.
Neighboring Roads Interested.
Some weeks ago it became known
here that roads which We're character |.
lied as "neighbors'' Of the Minneapolis
and st. Louis, were carefully watch
ng its earnings and that it would not J