The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-28

gins, confident of resumption of the bull
movement later in the present year. On,
reason why no great break is looked for
when usually slump would have been in
evitable before this. is in the fact thai
! large part of the recent buying has beer
for investment by the largest interests
which Will not sell out for a long time Il
come. regardless of fluctuations. Large
blocks Of stock have been bought for cash
even, rs is shown by the condition of the
money market, the small increase in the
| loan accounts in the banks
One OF the indications of a coming reces-
sion, and one that is seldom TO be tiisre-
| sarded IL one would b. on the safe side
| has been the taking up of the cheapest
! securities during the last few days and
| also tho booming of the stocks that have
Been neglected until this time. Southern
Pacific is one Of these stocks II is usual
| ~ che OF the last TO have an advance.
Reading first preferred is another. If now
| Western Union should be buoyant today
| the professionals would consider the indi-
| cation of break so positive that they
would all. without exception. go short of
| the market
Southern Pacific yesterday advanced
Sharply during the afternoon, getting to
the highest price OF the present movement
by an advance OF two points. Some fur
| Their gain is expected by many today. as
the stock has been considered an excellent
purchase, and many will doubtless buy il
believing that the movement is 'on." The
same may be said of Reading first pre-
ferred in a general way. 1t advanced to
"a L. yesterday. and was heavily bought
by the professional people. Its advance up
10 this time has been very small compared
with THAI OF the general market
The intrinsic merits of Southern Pacific
are hardly TO be disputed. The company is
doing an excellently profitable business.
and its physical condition is superior to
that of any other system in the South
west. and the equal of almost any in the
country in fact. The cotton business of
this system. as well as that of all the
Southwestern lines. has been superb this
autumn. and the farmers in the section
are all prosperous. This stock will be put
On a dividend basis in the near future
without a doubt. The presen; price of the
stock is low. considered as an investment.
though ii is net to be doubted that it may
&c OFF several points with the general mar
ket il there is TO be break
The news yesterday was all good
Importance. The earnings statements
were the most interesting matters dis
cussed in the street. The Atchison
monthly report of gross and net earnings
was published and as usual it was a
fine showing. The increase in gross was
$3.50. seq. and the increase in net S2S2, 60l.
The company is earning between 6 arad
per cent on the common stock in addition
to all fixed charges and the per cent
dividend on the preferrpl This fine hl,Si-
ness will increase instead of decreasing
if ali the indications are to be relied on.
The officers of the company are quoted
as most enthusiastic bulls on its securi-
ties. During the morning yesterday both
the common and The preferred were buoy
ant. but later in the day they declined
with the general market. II is not be-
lieved that these stocks will suffer much
in any break that may occur despite their
wonderfully big advance during the past
two months.
The Colorado Fuel and Iron Company is
earning good dividend on the common
stock. but il is said there is some doubt
il dividend will be paid at once. The
company is spending much money on i'm
provements The stock was weak yester-
day.
The October statement of the Burlins-
ton is expected today. 1t will probably
make an excellent showing.
Wire common declined to AZ IA early
in the day but was supported with some
persistence between AZ and 43 and finally
advanced showing small net gains for the
day. The other steel securities held their
own but showed nc buoyancy. They have
been held back by Wire undoubtedly.