The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-06


before they sell. The bears with their ut
most efforts have failed to dislodge any
of these stocks worth mentioning. Now
the only bad news that has been feared is
out Apparently good advance should be
looked for.
Sugar opened near par. and with very
little hesitation advanced to los IL be-
fore there was anything more than a
vague intimation that the directors meet
ing would be held yesterday. The ad-
vance was due to heavy covering and some
buying of lang stock. 1t cannot be said
TO what extent the short interest has COW
cred, but IL is believed that it is still
pretty well extended, if not dissended.
When the announcement of the cut was
made the price dropped to 81, more than
points From this it recovered to 80 IL.
the closing quotation. The buying during
the las. half hour appeared good, and the
street is inclined to optimism regarding
its probable future course The dividend
is per cent, and par is a low price for
G per cent stock, even II IL were known
that the rate would not be again ad
vanced- The company is not cutting the
rate because business is duh or because
there Is any less demand for refined SUI
gar. AS a matter of fact, the company is
exporting more sugar than ever before,
bulk of the business in this country. There
are few possible reasons for the cut to per
cent. The company may desire to carry its
fight forward even more bitterly than here
tofore. and may wish to use the dividend
money for this purpose. Or it may have
been considered desirable for the time
being TO stop paving such large dividends
while Congress is in session discussing
colonial and other questions, and while
al fTr, lott r,sr hn
antitrust planks in their platforms. In
.ieither of these cases is there any reason
for sugar stock selling below par because
for a short time the stockholders will get
only per cent on their money.
OF other news yesterday there was little.
The net earnings report of Rock Island for
January was added TO those already pub
lished. The showing is an excellent one.
The increase for the month was 81, $40.
II is announced that the meeting of the
st. Paul directors will take place on
Thursday. II will be decided at this meet
ing if the dividend rate shall be increased
from 5 TO 6 per cent or il any extra divi-
dend shall be paid. The tipsters all make
very positive assertions that there will
be no change In the rate. 1t is pointed
out by them that the company has been
always tra-conservative, and that its pol
icy of expanding large amounts out of
earnings for betterments has been particu-
larry noticeable during the past year. At
the same time. ii is known beyond ques-
ton that many of the directors expected
a per cent rate few weeks ago, and il is
not known as yet from any official source
that they have changed their minds The
regular rate would not hurt the stock, but
an advance to 3 per cent sent-annually
he I,
ers were strong yesterday. but with the
exception of Atchison preferred, they made
no particular showing of activity. This
stock was bought heavily and advanced TO
sc 1-2 at one time. The close was at
Go rs. The street is friendly to this
group.
Peoples Gas was one OF the features OF
the list yesterday. The stock has been
weak for several days, but the attack on
ii seemed TO climax yesterday. The high
price of the day. 81 1-2, was reached near
the opening and from that it dropped
quickly TO 80 il. The close was at SO 1-2
1t was understood that some kind of con-
ference was on in Chicago between the
Peoples and the Ogden companies, and fer
the most part the gossip regarding ii was
unsatisfactory. One Chico 20 despatch.
however. stated the belief that the Pee
pies company will secure control of the
Ogden before many days have passed Thie
does not seem in the least impossible. The
talk of the usual attempts at political
is heard again. but this need
hardly be regarded with much fear Many
conservative market people are convinced
that the bottom price has been reached in
the stock, or very near 1t.
-
NO in
affairs yesterday. The stock opened at 81,
advanced rapidly to IS 1-2, declined with
Sugar In the afternoon TO SO 1-2. and closed
at So. Brooklyn Rapid Transit was strong
all day, though no net advance was made
in II. II was stated in some of the de-
spatches that the special grand jury which
has been investigating the charges agains.
the supposed enemies OF the company has
found several indictments The names OF
the parties indicted were not given out for
the reason. so II was stated, that arrest.
would be made first. II seems not impos-
sible that quick upward movement NAV
be begun in this stock In the near future
The other traction securities were quiet.
The gross earnings of the Louisville and
Nashville for the fourth week of February
is quite up to the recent fine record OF the
company. showing an increase Of SS1 l75
The other statements of the Southern rail-
ways for the week are expected today. The
full figures of the net earnings report Of
the Norfolk and Western for the month of
January are as follows:
Month Of January: Increase
Gross earnings ,20l.s 1865 s2ss 100
Operating EXPENSE .........- 6o0.9A S0293
Net earnings .......... 5lO.42I s209 407
Charges ..........-.......... 1926 4.A60