The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-29

I
| There has been excitement Of some kind
| in it every day and on some days of
several kinds. The net result Of the week
| is an advance Of twelve points or more
| by the stock. and the revivication Of the
recently moribund story Of the settlement
OF the Sugar war. On every day that
| there has been an advance OF the stock
the bears have promised in the morning
that the long expected break was to APP
pear. Yesterday morning one of the news
bureaus that takes peoples money n eX-
change for value received in information
made the following interesting statement,
not as an expression Of reasonable belief,
| and not as the opinion Of some one else.
but as fact. pure and simple:
New York. April 2S.-The Chicago
clique Of professional traders will renew
their attacks upon the market at the
opening. and will endeavor to break Sugar
below 10 This stock is a good sale for
a quick turn"
Sugar was not sale for "a quick turn"
II opened at the lowest price of the day
and advanced rapidly more than four
points The close showed four points net
gain for the day. This news bureau never
made a worse guess in all its career
There is an immense short interest in the
stock. and the insiders have showed every
evidence Of being willing 10 squeeze the
shorts this week. Further advances next
week do not seem improbable.
A number Of March statements OF earn
ings were published yesterday The week
thus contributed much information as to
the present railway net earnings. several
Of the most important companies having
reported since last Sunday With one
exception all Of these statements have
been excellent. The most interesting fig
CT -f11 V-g~ ~ . har
Railway The net earnings for the month
show an increase Of S5S,34S. The net earn
ings from July l to March 81 show an in
crease Of $SS5.233. II will be seen that the
net earnings are increasing at the rate Of
81 $50 600 and IL is considered probable
that this figure viii be Appropriated for
the entire year This sum is equal to
about 2 per cent on the preferred stock
The net increase Of the Burlington for the
month was $50 GOO. The Northern Pacific
net earnings for the month were 81 ,32s.-
249, an increase Of S224572. The figures of
the Northern Pacific are the best of the
group, but-all OF them are entirely salts
factory indications Of expanding business
and larger profits.
With reference to the Northern Pacific |
statement. Il may be mentioned that /
President Mellen is authority for the posi- I
gotiating FOL the purchase of the St. Paul /
and Duluth Railway. The line is Pa miles I
long and viii be an exceptionally valuable |
feeder for the Northern Pacific. The !
Pacific securities have been comparatively /
quiet during the past week but they have |
held their own and there have been the /
best Of evidences Of important inside buy /
ing in several of the group. Missouri /
Pacific. it is known. has been purchased /
n nv
Sage made the statement a day or two ago
that such purchases we're being made
There is much talk of a deal in the
Southwestern group Of railways and It !
IS probable that there is some foundation
for the rumors. The outlook for all Of the
Southwestern securities is excellent and 1
many careful Spectators are purchasing
them on the recessions from day to day.
The steel securities. after making fair
net gains until yesterday were attacked /
again rather yiciously by the bears at the |
opening yesterday morning and declined /
more or less nearly all day. American Steel
and Wire common was the weakest Of the /
group. selling again well below 40 and clos
ing practically at the lowest figure for the /
day. The story on which the bears based |
their attack was to the effect that the |
Carnegie Company will erect a wire and /
rod plant TO compete with the American /
Steel and Wire Company. There was no
ascertainable foundation for the rumor and .
II there had been there was no reason in
it for the weakness OF Tennessee Coal and
Iron, for instance which sold off 21-2
points and closed az the bottom. SIP.
The short interest in these securities is
quite as large as that in Sugar When
Mr. Gates resigns the covering Of these
shorts is likely TO be an interesting exhibit
ton, If il does not occur before that time.
Notice has just been sent out of the regu-
lar quarterly dividend Of per cent to
be paid on the preferred stock Of the
American Graphophone Company. on Nav
Is, 10 stockholders of record May l.
Washington Sr"ck ExchBHEe