The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-02

week, they make peculiarly satisfac-
| tory showing in comparison with the bear
| predictions regarding the group SO fire.
! quent two months ago. They are certain
! to cause covering of short contracts. Bur-
| lingtons gross earnings for the month
were s3,510,242, an increase of 1916, 100.
| The net earnings for the month were
| Sl,233, $50. an increase of s247, sos. St
| Paul's net increase for the month was ap-
! proXimately $4,000 not very large, but
| compared with a decrease in net for De-
| cember, most satisfactory. The company
| continues its policy CT heavy expenditures
! for betterments. charged to operating ac-
! count 1t is figured out from the state
| ment of the Atchison for the first seven
months of the year that something like 4
! per cent is being earned on the common
stock. The grangers all reached new high
prices for the week yesterday. but did not
hold all their gain. Rock Island advanced
to los IL, and closed at 107 IS. St. Paul
got as high as 1913 1-2 and closed point
below that figure. Burlington, after get
ting as high as 124 ga. declined to 1913 IA
at the close. Atchison was the most buoy
ant of the group. advancing TO &c and clos
ing only fractionally below that level.
The January statement of the Southern
Pacific was given out 1t shows net earn
ings for the month of 1882, 1897. an in
crease of s9S,519. Southern Pacific stock
was inactive yesterday, and ma lie a small
net loss for the day. The same may be
said CT all the Pacific securities.
Third Avenue. with all the fractions, was
held fairly steady yesterday morning, but
during the last hour there was a violent
bear attack which carried ii to the low
est price yet reached-a fraction below 30.
The break occurred simultaneously with a
rumor that the stock will be assessed $50
share in the reorganization of the COM
pany. The syndicate that has been work
ing to finance the system without the help
OF receiver has dropped out entirely and
will make no further effort Sentiment is
aggressively bearish in all quarters re-
garding the stock. and IL is not made any
less so by hints that there will be a search
ing investigation of the company's affairs
for evidences OF criminality. The other
fractions declined during the afternoon.
but lost only part of the gains made by
them on the previous day. Metropolitan
closed at 40. Manhattan at SO ia, and
Brooklyn Rapid Transit al &C.
Several reasons were assigned for the de-
clines IN the steel stocks. Any Or all of
them may have been the cause, or quite
possibly the bears may have attacked the
group on general principles and put out
the rumors simply to help them. One story
was that there is growing up serious dis
content among the workmen of the compa-
MES in the West. There is not much real
foundation for this. Another rumor credits
the Industrial Commission with the inten-
ton TO make a very disagreeable report on
the companies. The third suggestion foated
was that the big consolidation of the Ma
tional Steel group is not to be made, as
reported a few days ago. II is not known
exactly why this report should have bad
effect on the stocks of the three companies
however. Steel and Wire common sold
off two points TO 56. Federal Steel COM
mon sold off TO 50 1-2. and closed only a
fraction above that price. Tennessee Coal
and Iron declined more than two points.
Sugar sagged off again to 10S and closed
1T 104 and a fraction, with a net loss of
nearly three points for the day. One OF
the news agencies makes the estimate that
the trust is earning only per cent on
the preferred stock and nothing on the
common stock at the present time. II was
one Of the stories in the street yesterday,
with this estimate as a basis. that there
will be no common dividend. and cut in
the preferred to per cent or less. Another
version of this idea is that the trust has
decided permanently to cut its dividends to
a much lower plane for the good effect
that this would have in discouraging com
petition and dsarming the trust hunters.
II is said by the imaginative gentleman
that ventures this theory that the company
will cut prices 10 a point where profits
are very small and will continue them at
.