The times., 1899-11-29

declined only to S43 The common also
made a new high price record, 50 3-S, and
closed with a good net gain at 5S "a.
Apart from any especial intrinsic siguiti-
canoe in the activity of these securities,
this mOvemeut was considered an excellent
indication OF strength in the general mar
ket ard Of the faith of the leaders The
gossip regarding the companies was varied.
One usually well-inf0rmed broker sent out
The statement late in the day that there IS
now under consideration plan for he pur-
chase of the Baltimore and Ohio by the
other two systems. or rather by the pTinCi-
pal people connected with them Il will be
the comment Of railway men generally that
such plan would be an excellent one, and
that such q combination viii undoubtedly
ultimately be brought about The Balti-
more and Ohio has been thorn in the side
OF the Nauderbilts and the Pennsylvania
peopie for long time. il seems probable,
however. thar nothing more need be eX-
pected al present than a closer traffic ar
rangemeut amongst the companies. That
something Of importance is under cOnsid-
Grafton seems TO be certain.
Federal Steel preferred was active and
strong yesterday, getting as high as 81 3-S
al one time. and closing at 81 IL. The
buying of the stock was said to be of eX-
ceilent character, and Flower is known TO
have bought a round amount during the
day. Other iron and steel securities were
also taken up as had been predicted in
this column, Wire common getting as high
as 20. and Steel Hoop also making a good
advance The now widely expressed opin-
ion that the decision OF the Supreme Court
in the Pipe Trust case viii not be inimical
TO the iron and steel companies in general
seems to be giving confidence in these
stocks The talk of or per cent Civi-
dends for the holders of common Federal
Steel shortly is also having its effect.
The advice cf insiders is that these stocks
should be bought on every recession.
The Leather securities were inactive and
rather weak than strong yesterday. The
announcement was made early in the day
that the dividend on the preferred stock
for the quarter had been declared at the
rate Of ! II per cent This is at the rate
of per cent annually. and represents an
advance of ] per cent No statement of
any further intention of the company vas
heard, and it is thought by many that tbs
viii be the extent Of the new developments
in the Leather situation. II IS said that
the Standard Oil people have been selling
out their holdings in the stocks. An ad
vance OF a few points by the common stock
seems not unlikely. in view OF the recent
immense tumble in the price
Reading first preferred seems likely to
have an advance of point or two on the
earnings showing of the company. In the
first quarter of the fiscal year the line
earned a surplus over charges Of 1854. .216.
Yesterday the figures for the first four
months Of the year were given out, making
an even better showing than this. The
surplus had advanced at the end of October
10 $l,555,S2S. Four per cent dividend on
the first preferred stock requires only
Sl.l20GOo, so that this dividend was all
earned in the first four months of the
year. At the present rate of earnings the
company viii have profits enough at the
end Of the fiscal year to pay the full diyi-
dend on the second preferred. and a sur
plus left for the common stock.
Reading and the other coalers were all
inactive and rather weak than strong yes
terday. The talk of the competition OF the
proposed new railway to tidewater may be
supposed 10 have caused some selling OF
these securities this week, but it is sid
by officers OF the different lines that there
is no danger that their business viii be
hurt for a long time in the future at least.
The lines are now doing all the business
that they can possibly handle.
The surplus of the Burlington for the
month of October was SIP 153. The state
ment of the company was well received
yesterday and during the early part OF
the day il seemed quite probable that there
would be a fine advance of the stock in
consequence. Later, however, the traders
sold the stock Of so that il closed with no
net gain for the session. st. Paul vas
again rather weak selling as low as 124 -,
and closing at l24 ga Rock Island was
dull Atchison preferred was the feature
of the granger group. As had been ex-
pected the street was inclined to bull the
stock on the fine monthly statement of
the company. The price hung around 65
all day and closed at s. "a. The advice
to buy ii on all recessions is given.
r One Of the tips yesterday was that Ten
nessee Coal and Iron is 10 be taken Up in
the near future by its clique and advanced
% a new high price.
The earnings of the Norther Pacific for
The third week of November show a good
increase. $5A62A The increase in gross
earnings for the period since July 1 was
81 402. 0JS. II IS now understood that the
extra dividend to be paid in February Will
be duplicated semi-annually as long as the
earnings of the company warrant it. The
gossip regarding the stock is all bullish
and il is probable that as soon as the
clique is ready to allow it to advance
there will be no trouble in getting the at
ientioH of the public Southern Pacific
and the Union Pacific securities were
strong though not buoyant yesterday.
Manhattan and Brooklyn were advanced
early in the day, but later declined with
the remainder Of the market The former
closed with a slight net loss and the latter
with a small advance. The general senti-
meut regarding them is bullish.
Sugar though believed by many TO be
a sale was fairly strong yesterday getting
as high as 156 and closing with a point
net gain.
Washington Stock Exchange
Sales-U. s. IS, registered 81 I0OalO9
9-6 Columbia Railroad SIS, $1,000 at III.
Washington Loan and Trust, 20G17O -,
33q 40 Real Estate Title Insurance, IA
s.. District Title Insurance, 1OOG3 S-8.
Capital Traction. 50a93 5-S Washington
Gas 1886 rs. Mergenthaler Linotype. 10
n 2G9 II. 1Od 2O9, 20d pos "a. l0G20S 1-2,
10G POS SIS. Lanston MOnotype POOLS 3-8.
seals IL, 5o0l5 Is. American GRAPHIC