The times., 1899-12-04

were bh6 tIiy railway securities lnat Q1Q /
not make gains. The record is wholly sat- |
isfactory. Leather common, apparently, /
has had its last debauCh, and completed |
II. and the market is unquestionably better !
off without 1t, even if the public has lost !
money in it. Southern Pacific, Union Pa |
cifc common, and Northern Pacific COM
mon all have been active as was predicted |
in this column last week. and the last two
nave been buoyant 1t is to be noted also
that Federal Steel common has been more
active and has made a better record than
at any time in recent months.
There are indications of a most con
vincing nature that the steel and iron
securities are to be taken up this week
The insiders have been circulating gossip
regarding them, the New York papers
yesterday were full of talk of the pros
perity of the companies and the securi-
ties themselves have been exhibiting signs
OF reawakened interest among the in
siders. What the plan of the insiders is
must remain more or less a secret until it
is already in operation but there are care
full students of the market who believe
there is TO be a fine advance in many OF
the stocks. such as is warranted by the
conditions of the companies in fact
One of the New York papers yesterday
had two-column article quoting numer-
Gus steel and iron men on the present
condition of the business. President Gary of
the Federal Steel Company, Senator Hanna,
Manager Schwab, of the Carnegie Steel
Company; President Warner, OF the Re
public Iron and Steel Company; President
Nash. of the "Smeters' " Company, and
officers not named of nearly all the other
concerns were quoted, and every man in
the group was full of statistics and pre-
dictions and promises of the most glowing
md AIyz rfr-
OF the entire symposium, and as it con-
tains more statistics and less promises
and generallzations than some OF the
others, part of 1t Is quoted here:
The business Of our company continues
excellent, while the outlook for the future,
both in cur home and foreign trade, could
not be better. The price for ore for the
next year has just been fixed at $3.50 a ton,
as compared with $3.50 and SO this year.
The quantity of ore produced this year
will be 1900, 600 tons, of which our Min
nesota Iron Company viii produce $780,
600. We will have between four and five
million tons on our railroad, the Duluth
and Iron Range, while our boats have a
tonnage capacity OF 100000 The rate
for next year for carrying will be $3.50 per
ton, as compared with so cents for this
year. We shall produce next year 1900,
0O0 tons of coke the price for which has
=
This year it has been $1.5O,
Our companies together will finish
about 100000 tons of steel products, such
as pig iron, billets, rails ship plates, etc.
OF these 100000 tons We have already
sold for next year about !, 400 GOO tons and
we have just made contract for 1000 tons
of rods at $38 per ton.
The fixing Of the price Of ore at $3.50
per ton establishes the prices CT all finish
4
what an advantage it is TO have plenty Of
ore and get the benefits Of these higher
prices. As it is, some concerns through
out the country will have great difficulty
in getting the ore. l may say, in passing,
that the October tonnage OF our Elgin,
Joliet. and Eastern Railway was the larg-
est by all odds OF any month in its history.
Our earnings are highly satisfactory, and
naturally with the higher prices they win
continue So
Among the railway earnings statements
not heretofore published may be given the
following:
Metropolitan Street Rwy. Co.: Inc.
Month November -........-.S 81 ~, 44s Slsl,s.9
From July L.. ...........-..- 5,9S2,o ,o15 ISS,6sl
Oregon Short Line:
Month Of October. .............. S42,si1 SS,21
From July l---...-......-...... 2,9l5,562 S3l, YS
Wisconsin Central:
Month . ............. . 356$37 81, ,6s5
From July yI................... 81 ,Gi7 40i,636
Chicago, and Eastern Illinois
for October
'2'1 Se5 ss15i6ss s45Rsss. s7e5 IS 5 ais4 4is4
From July TO October 81:
Gross earnings. ,I6i, 40 253,2l9
Net earnings. ----...- slS,4i3 lJ5,32A
Wabash for October:
Gross earnings. l,514 195 26l,O0O
I Net edInlgS. J4Z,0l lIc5op5
/ From July TO October 81:
Gross earnings. o,S0Sl!0 el3,o5t
Net earnings. LIZ, 500 32o,46i
October statements of the most impor-
tant railways are now all in. As has been
pointed out heretofore, there is not one II
the entire list except St. Paul that does not
show an immense gain both in gross and
net. The Financial Chronicle computes
the gross earnings of seventy-fye roads for
the second week OF November, 1899 at
SO 0,539 062, an increase of $1,125, $50, or
11.96 per cent; sixty-eight roads for the
third week of November at $l0.375S57 an
/ increase of $1,03l ,53S, or l1.04 per cent.
/ Pacific Mail promises to be active this
week. II is said by people known 10 be
! well posted on Congressional plans that
the subsidy bill will be made an active
( issue early in the session. and it is stated
by others supposed to be in touch with
a favorite with the manipulators while the
subsidy bill campaign is on At the mo-
ment there is very good evidence that the
stock is to be advanced It's activity on
Saturday had all the earmaTks of the be-
ginning of bull campaign.
The Pacific securities generally are con-
sidered still to be among the best in the
( railway list by careful observers Of the
market. 1t is thought probable that South
ern Pacific may be taken up again this
/ week by the cliques and there is a general
/ expectation that Northern Pacific common
will advance to a still higher level.
There are tips to buy Burlington based
on talk of another refunding plan. The
! stock has shown a good activity and
strength during the past few days
Washington stock Exchange.
sales-U. S. S's Coupon, $2.5oOd1O9 3-4.
! 81. .5OOd1O9 rs; Potomac Fire ms, 25dS0,
Capital Traction. 66G94; City and subur-
ban R. R, 92d35; Washington Gas 256
! Sc "a. 5OG56 1-2. 25d56 SIS; Ches. & Pot
, Tel. 25G66. 5067: Mergenthaler Linotype
( 1G2OS. 1OG 2O7 SIS, 1Od207 IL; Lanston
Monotype, 100416 Washington Gas-200
56 3-4.
GOVERNMENT BONDS
B'L Nskel
| 4 So 1905 o OJ................. ll24 Il3
L ; as 1891 q } J..------.... Il5a ia
L S4's r 1925 ......... ........... lS24 la34
/ u AS & l920- l52f 1854
| L 5's G 1901 . F...........-..-.. itiA -...
| L : SIS X l906Q F.................. 1888 10
| { 5 IS K 1908 G F...,.......... 1893 no