New-York tribune., 1900-04-01
financial.
The Financial World.

week De1ore US promises 10 be another q. p.
kind The commission houses are hapnv :.
cause the movement Of prices has all been an.
way-upward; and that makes the only sor, =.
marker IN winch nine tenths OF the custons-.
OF these houses are interested In A temporarv
set oack was given on Thursday. when NJ
Havemeyer's utterances In respect 70 tha o-.
look for Sugar dividends. sent the stock ,r--
bling from 1O2 to below 9S and depressed ~.
whole list; but Friday went I'D with a h0n.,
a trifie of 13 points so. and II the Sugar .,
terview with Mr.. Havemeyer published ves,a,
day morning correctly represented his s,a,a :.
mind. he very mad about sometime y.
course 1t could not be about the way the ssoc,.
had gone up He said the reports that the sug,.
war had been settled annoyed him Tho tran.
actions In the stock Thursday Friday a.
Saturday aggregated about 430 600 shares vv,r
the total number Of shares is only 80 OS0- a.
that considerably more than the whole coqnmor
share capital was turned over. Now i. cos,,
money TO handle Sugar on such a scale as 1ha,
and the magnitude Of the transactions precluss.
the idea that the movement was simply d.
T, rected against short interest There wa.
something more than that behind the buvsng
Rumors thick TO what the something 4.
but far they only rumors Development.
may be looked for later. In the meantime 4,
Is apparent that Mr. Havemeyer is not in ar
amiable temper. Something may have inter-
fered with his plans.
Except for the irregulas.ty caused by the
Sugar episode. the market pursued the even
tenor of its way upward London being aeon
siderable aid thereto. 1t has been a large tuyer
of the international stocks. particularly favor
ing those OF Pacific coast properties II an
peared at one time as if Union Pacific would get
Of haror
the week. for it touched 80; but Just at this no.
ment the market got its cold dose from Mr.
Havemeyer and the traders tumbled out of their
stocks In a hurry. Union Pacific went back
point or with the rest; and later recovered
with the rest. 1t would accord with common
experience if when the stock reached 60 many
new and good reasons We're found why il should
go higher and most likely II will Indeed with
the earnings the company is making pointing
TO a certain increase in the dividend TO per
cent In the near future, 90 ought 10 be a sort Of
put price for the stock; above which one could
trade in it general speculative conditions.
The Atchisons are working well. and coming
up to expectations. They are not rushing up,
but working up solidly. That the dividend on
the preferred will be raised to > percent is sure
IL the wheat crop turns out we'll Kansas re-
ports say that the appearance of the winter
wheat at this time. just il comes out Of the
winter. is unusually favorable In fact the re-
ports are so wholly favorable. that a consid-
erable margin is left for Spring losses, and yet
have a big crop. Atchison last year had to face
a very short crop of cotton in Texas; and its
California lines are only now coming into opera
ton With a good crop of cotton in Texas and
an augmentation CT traffic from California. earn
ings this year are expected to put both the pre-
md hirhar
than their present prices.
While not in a position to say absolutely that
1t will be DONE the information comes from good
sources that Northern Pacific common viii
shortly be made regular t per cent stock In
confirmation of this. it may be noted that recent
large buying of the stock comes for quarters
where former buying the same scale has al
ways presaged some important movement The
Northern Pacific people have usually shown
slight weakness for the spectacular in their
operations; and something spectacular may %
looked for presasing the announcement OF the
increase of dividend Their usual way has been
to lie quiet for long stretch. and then send
things suddenly whirling. AS per cen;
stock 1t would be quite in their line 20 put
Northern Pacific common into the 10s. and do
1t with a rush when they got ready-which they
seem TO be getting now
pronounced movement IN the NanueEpAI
stocks Is talked OF as likely 10 follow Mr.. Van
derbilt's return from abroad. This would in
cIude New York Central Three Cs. in which
there is good buying now: and possibly the
Nickel Plate stocks. The Chesapeake Ohio
appears TO be a combined Vanderbilt and Penn
sylvania property In the way the stock Is now
held. 1t ought to do we'll under Such strong
nursing. Our antique friend Erie seems 10 be
m Or
ones are reviving. The anthracite coal stocks
have been very lively, with Reading TO the front
AS for the stocks of roads in which bituminous
coal is the important item OF traffic. the way
B. & o. has rushed up ought to satisfy the most
exacting bull; and what is more 10 the poln
1t has retained the sensational advance il made
The stocks Of the Ohio coal roads have moved
up more quietly. keeping pace with the general
market
In the latter part of the week the gas STOCKS
and some OF the industrials began TO show signs
that speculation in them was reviving- Ne"
bull pools were talked OF in the steel STOCKS
Federal Steel has been largely bought within
the past day or two; and in the outside mar
ket. Amalgamated Copper has been in increased
demand This stock will go up when the rias-
mates who control II ready TO have II 8"
and not before. All one can say is that there
are market indications OF coming advance
The traction stocks at this time are surrouno-
ed with such unpleasant atmosphere OF srah1
jury franchise tax, threatened litigation, snof'
hunting misrepresentation and bitter personal
antagonisms. that they seem TO be q group
apart from the general market The traders
have grown tribe shy OF them. Hence INC
publication Of the tax assessment lists na1
much less effect than would have been the case
otherwise. The general impression seems to %