The times. [volume] (Washington [D.C.]) 1897-1901, 1899-11-25

not De advanced much further If any at
this time, and if they are il is quite GER
tain that they VIII have an important de-
cline later. According TO intrinsic merits,
both stocks are quite as high as even the
present fine earnings of the company war
rant There is no reason for selling them
short, however. If the 'Speyer people in
tend to make bull market they will not be
likely to allow any of their securities to
show marked weakness.
It seems probable that the Northern Pa
cifc securities viii be the next 10 be taken
up by the important interests. Il will be
noticed that the Baltimore and Ohio securi-
ties, Union Pacific common. and Southern
Pacific have all now been advanced to the
highest price on record. and that Northern
Pacific common is nearly points below
its high price OF several months ago. There
was heavy buying of the stock YESTERDAY.
but no apparent attempt 10 advance its
price. Brokers allied with the present
movement, however, have advised their
friends 10 buy the stock The preferred also
seems likely TO be advanced well in the
near future. 1t may be pointed out that
Northern Pacific preferred has SURPLUS
Of s., GEO 600 laid aside for lean years. which
IS a practical guaranty that the dividend
VIII be paid for long time TO come. Bal
timore and Ohio preferred is selling nearly
10 points above this stock. and II has no
guaranty fund Northern Pacific common
IS 10 receive l per cent regular dividend in
February, and an extra dividend of / per
cent. making 3 per cent for the year. The
company Is earning considerably more than
The dividends paid
Pacific Mail is one Of the securities al
lied to Southern Pacific that many believe
IS booked for a large advance in the near
future Important buying OF this stock
seems TO discourage the idea that its price
is to be allowed to tumble in the near flu
ture for the benefit Of specuIatively inclin-
ed Congressman. Later in the year. or
early next year. il may be made a specu-
latiye football but the belief is gaining
that before that time it will be given an
important advance in price
The advance in the price OF CONSOLIDATE
ed Cas- begun on Thursday and continued
yesterday morning, at the opening of the
market, was stopped very suddenly before
noon. The price of the stock advanced to
POI IA, and then tumbled to 1856 The
manipulation is easy TO understand The
news that the Amsterdam Gas Company
had advanced the rate OF gas to 81 10 was
circulated as proof that the New York gas
war was over, and the price was put up
Yesterday the meeting Of the Consolidated
Company was held and the regular dividend
of only l per cent was declared but there
was no notice that the price of gas was to
be advanced by IT, Immediately there was
heavy selling Of the stock on the theory
that the war was not over after all As
a matter Of fact there is no more gas war
no matter what may be given out The
Rockefellers have obtained control of the
New York gas situation. This may be
stated on the best Of authority The rea-
sons for continuing the low rate BY the
Consolidated are immaterial Ii may be
even that this rate will be continued in
definitely. It would not be impossible for
this company to cut down its output to
nominal amount of gas for the sake of
keeping up the semblance Of war for DO
litical, or stock market, or other pur-
poses.