The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-01

| mand for money. The earnings statements
yesterday were fairly satisfactory, though
that of the Southern Pacific for Septem-
Der shows a decrease in net. The Peo-
pies Gas directors have declared the
usual quarterly dividend and thus settled
the foolish talk regarding a cut in the
dividend rate. The prices of steel billets
was advanced yesterday, as had been ex-
pected.
Southern Pacific was. perhaps, as strong
and active as any of the railway list dur
ing the morning hours. and it held its
own well during the entire day. This was
I the more significant on account of the Sep
TENDER statement of the company. The net
earnings were $685., 6G7, which was a de-
crease of S12S,2i6. A better showing HAD
been expected. The suggestion that divi-
dend is to be paid on this stock in the
near future is not worthy of credence, and
few now believe 1t. The strength of the
stock yesterday was due to what looked
like inside buying of an excellent char
acter. There is no reason for pessmisir,
regarding it. The present price is not one
to cause any careful investor or Spectator
to sell out his holdings. but rather it
should induce buying, with good mar
gin.
| The other Pacific securities all had rather
! large declines Missouri Pacific closing at
! 55 is. Northern Pacific at 81, and Union
Pacific at 81.
! The net earnings of the Southern Rail-
way for the month of September increased
$685.. The increase for three months was
s24,345. The Southern securities both held
: their own yesterday, but made no gains.
That they did not decline with the general
market was considered a good sign OF
their present excellently strong position.
, Louisville and Nashville was dull, but also
held its own. This stock. like the South
ern stocks, is considered one of the best
investments on the list
Peoples Gas was not active. 1t closed
J the day at IS rs, small fraction below
! the opening. The action Of the directorate
in declaring the regular quarterly dividend
of / 1-2 per cent was announced during
the afternoon. A month or more ago it
was quite generally said that the dividend
would not he paid on account of the gas
war. This was not believed by conserva-
tive people. What may be done at the end
of the next quarter is more in doubt as
unquestionably there have been losses of
profits, If not an actual deficiency on ac-
count of the war. The stock is several
points below its high price of week ago,
but many believe that it may go lower.
Pennsylvania was one of the very few
stocks that had any advance in price yes
terday. At one time 1t got as high as
135 1-2. and the close was at 135 Ia. The
September statement of the company was
excellent. as had been predicted. The COM
pany made large profits in the soft coal
business during the month, and has added
/ to them materially in October.
! Sugar was strong during the morning
| hours, and went off later 1t is out of the
question to say what will be the course
! of the stock in the next few days, but
some O. the best people in the street be-
lieve that 1t will have a good advance be-
fore very long. The company has made
large amount of money in the past season,
and during all that time the price of the
stock has been going down or only hold
ing its own. The insiders have accumu
lated big line of it at the low prices. and
It cannot be supposed that they did this
with any other object in view than tho
selling of it at much higher prices.