New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-28
financial.
The Financial World.

serye OF the banks dropping at the rate Of seven
millions a week. while the loans are expand.
Ing. The loss the past week brings the assrs.
gate down to something over S21,0O0,0O0. Then
is not great deal OF room for more loss without
the bank people becoming very scrutinizng a.
to the collateral in their loans. which usually
means a scurrying about for money with rising
rates for the same. Gold imports VIII come Ia
then, but you usually get the squeeze before
they arrive. There is growing anxiety TO have
the Treasury Department close up that $780,.
0OO 600 loan business.
sneculation the past week has so much to
the large stocks that attention has been TEN.
norarIy diverted from stocks which under other
circumstances would have been very active
Tho market shows that the Morgan party are
aoanIv engaged and the Standard OIL people
with them. The almost abnormal activity Of
Tho Northern Pacific and st. Paul Is an infali.
bIe s,xn The big speculation OF last year was
led by these people. 1t will not be forgotten
TINT the bull market Of last summer was led by
tho grangers. and OF these that st. Paul was the
leader. the ammunition being furnished by the
increase OF it's dividend from TO per cent q
Certain officers Of the company denied that such
an Increase would be made. The tape said II
would The tape says now that another in
crease IL coming. despite the same denias. The
Northern Pacifics similar speculative levers.
The HEADQUARTERS for the speculation in them is
also at the corner OF Wall and Broad Streets,
and they have been moving up just as they did
last summer when the dividends were started
on Northern Pacific preferred. The rumor is
now that q dividend IL coming on the common.
London has caught the fever as might be
imagined from the source or the injection
apologizng for the metaphor. IT has been buy
ing heavily Of the leading railroad STOCKS and
among them Union Pacific. common and pre-
serred OF course the rumor has again got into
circulation tha. the dividend on the preferred
! is TO be 1 per cent. Instead or per cent as
heretofore stated in this column. The first divi-
q aord 10 due in October and 1t will be SEMI
Annual IL per cent 1t Is well to bear IN mind
| ~. emnhatic declaration OF gentleman OF
como ueieht in Union Pacific affairs: There
| nil, no no fireworks in this company. WHO
,b,s gentleman is and the interests ne speaks
! Cor is now generally known In Wall street.
put there Ia really no need TO seek IN vague
minors a reason for the buying Of Union Pa
cinc. The intended dividend OF 5 per cent ID
ultra conservative. We want the stocHhoiders
70 feel as sure OF their DIVIDENDS as the DONG
holders OF their interest. To do this II IS neces-
sary 70 accumulate surplus against RAINY
DAYS" This was the statement OF the seh''e'
= .,orr.d n Union Pacific preferred may
,.o-o,ore no regarded as a minimum 8 per cent
stock At 60 II pays per cent on the invest
ment With cheap money. London VIII ouy
stock nm 10 20. and hold 1t, which assures
minimum, return Of per cent Win sure p'os-
pect OF extras.
7, 90 not likely that the small stocks ana oonuS
ON the railroad list will be neglected some
onerators assert there Is more none! !" '"''e
than in the big stocks. However TINS may We "
- ,o,o-ahlv certain that the public is giving due
attention to this class OF secutl'les' h"'
,..,oa 3, Texas Pacific stock and incomes indi-
.ho, tho time Is approaching when the lat
tor will nav interest. The stock has not moved
r,,,cn an far but Wall Street has seen this same
Taxos Pacific stock sell up to 20 In the old times
,,bor rho condition az the property couia n0'
! ,,,,, 20 con,nare with what II is now si'e'
| wars ~ patient building up and improvement
Tho Kansas & Texas seconds ousht " -"
an ~ ~ considering that they pay theH ps'
cont regularly Wabash debentures nave We"
rising on the improving condition OF the e'A''
many Chicago & Great Western oeoe"''.'
um become dividend payers at the close Ok u'e
. and knowledge Of this is making &C.
mand for them among small ihNes'0tS'
,oo,, olso will prohably see higher prices sooh
,.c,,son adjustment As are selling above 30 anu
rho nrcrerrcd stock about 81. II looks "'0e
HIGH 70 the conservative observer. cohs'ue'o
rho large volume OF the stock. nut i yum
ulo,v "a go higher The Flower people " i'a'
no onnortune 10 note, are disposed 70 i'aNe
feature OF Chicago & Eastern ILLINOIS, E'e''
! hing they have handled lately mas p'o'eN
winning card. and this old time ia'o'''e
theirs will probably prove the same 49,.
IN rho line OF pure investment bonds winch
sba mo
from the aspect OF the money market a"eh''O"
$780,. AGAIN no called to the b. & O. Is. selling
between 81 and 81. They may pe oous"' "'N
certainty OF their going TO par.
In the industrials. a large short in'ele'' :"
s,garana Tobacco has been responsible lot '"'
ran,d rise In both The eagerness 10 cover "''
r,ada n market for them which. with a''e'''oA
Generally diverted TO other departments VI Wv
narkat would otherwise have not occul'eu
this time. In a little while however SONIC !.
tho ,ndustrals mention Of which has peeh 'n"''
here recently will move up in manner sou
factory to those who hold them Even III ss.
a market as We are having now ever! '"i"e
not move up at the same time
The moral of the sudden advance In Cnicaso
Gas is-don't go short OF STOCK on q"
between insiders which may be set''eo w.
night And also in respect 10 Manhattan
ware OF remaining on the short side "he" Wv
trading in |, all at once doubles in volume ai'e'
the stock has had a sharp break. i.
The controversy over the financial STATUS =.
the Brooklyn Rapid Transit Company aura.
general attention In the street. Last eu"NNs
the BROOKLYN Eagle" published two co'u"."
article questioning whether the stock was w. ~.
the price then quoted for it. about o''
company furnished facts and figures 10.
ply. which was published in the street i"u..
day morning. and yesterday Treasurer hos'',e.
published more elaborate statement III Wv
Financial Chronicle" Boiled down 'he vs.
pute resolved itself into two questions; u, ~,
| In actually earn IIs INV