The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-04

Roosevelt s message look nn me question OF
State trust legislation somewhat extern
svey. and although this fact was also ed
as bear argument. Ii does not app ar that
the Governor recommends any measu
that should cause the selling of any gOJd
industrial security. He suggests that the
industrial companies should be required TO
furnish full reports like the railways, but
. that they should not be forced TO Disclose
any essentially private information. 1t has
been pointed out frequently in this column
that full reports from the trusts are
necessary for the protection of stockhul-
fers. and that the legitimate companies
will not object TO furnishing such informa-
( ton Many of the companies have already
either issued reports or indicated their
willingness to do so. Money vas fairly
| easy all day, and there was no repsuuon
at any time OF the quick advance TO l. per
I cent on Tuesday. There were no gold
shipments Many careful market people are
inclined 10 the opinion that further declines
Will be made today, but II is also believed
that the recession will not extend far d
that the advance is likely to be well under
way again before the end of the week. At
most the recession should not be for more
than half the extent of the recent advance.
Additional earnings reports received
Yesterday were all favorable The Union
Pacific figures for November and the Met
ropoliian Railways report OF gross earn
ings Tor December are OF particular i'm
portance The Union Pacific net earnings
] for November were 1894. 7SS. an increase Of
/ s5iOfG Every month during the current
fiscal wear a good increase has been shown
over the figures of the year ending June
/ 80. 1899. This is a highly satisfactory rec
ord when ii is remembered that in that
/ year, according TO the annual report re-
Gently issued. the company earned per
cent on the common stock.
| The Metropolitan Railway in December
increased its gross earnings $4,000. This
makes the gross increase for the first SIX
months of the year very nearly Sl.Oooooo.
The company is IL anything. operating for
n less percentage of the gross earnings
than during last year. which makes II GER
tain that the net showing will also be
fine one The New York traction securities
generally were strong yesterday morning.
but during the afternoon they all declined
with the remainder of the market. Metro 1
politan went as high as $50 l-2. and then 4
Tell of to l15 l2. Manhattan. after ad- I
vancing TO 80 declined TO IS Is. Brook I
lyn Rapid Transit was bought eagerly by 4
belated bears in the early part OF the ses
sion. and advanced TO 15 3-S When this (
covering had been forced the stock sold 1
off 10 GO Ia. and finally closed at 20 Ia. /
Much interest is felt in the coming meet
ing of the company's stockholders, which I
will be the first not under the control OF .
the voting trust II is rumored persistent
" that this meeting will show Vanderbilt
interests 10 be in control OF the company.
The people who put out this suggestion are
generally bullish on the stock.
New York Central was one of the most
Al 1sr- dar~
Ii advanced rapidly during the early trad
ing to 1876. and although much of this gain
was lost, il was one of the few securities
that closed with a net gain. the last price
of the day being at 1873 3i. Rlumors OF
early developments in the combin alton OF
the Eastern trunk lines were heard in
the street in connection with the advance.
The Baltimore and Ohio securities and
PENNSYLVANIA were weak. however. Care
full market people are advising the pur-
chase OF all these securities on breaks.
American Tobacco advanced TO 101. but
later had the most violent decline Of the
day. to 1o2 "a The Continental securities
followed American Tobacco. It is sid
that the annual report OF the American
company. soon to be issued will show
immense earnings and fine percentage
for the common stock.
The Leather securities, having advanced
several points, were allowed TO sag yes
ierday. II seems TO be fairly certain now
hat the Standard OIL people have acquired I
coutrs of The leather company through Z
the ownership of a large majority of lis
securities. This fact however, should not ,
be any indictment TO careful investors or :
SPECTATORS to buy the stock as the Rookie
fellers are not conspicuous for the openness
Of their methods of speculation. They viii
be able to mark the price of these securi-
ties at any price they see fit. and undoubt- , /,
eddy viii do So
The international Paper securities were c
fairly strong again yesterday The recent ]
sharp advance in the prices of paper seems. {
70 have caused renewed bullishness regard
ing the stocks. a fine increase in the rate !
IF earnings, already excellent, is suggested. =
The grangers with other international I
securities. were sold heavily yesterday !
afternoon. The buying was good also, how
.ver. and the declines made we're not :
arge Burlington got as high as 124 Is
md then sold off to l22 3-4 at the close.
it. Paul opened at 119, went to 1ls H. ,
md closed al III ga Rock Island. which
las been the most buoyant of the group. =
ecently went as high as Jos IL, and then
old on to loo "a. !,
The steel and iron securities generally
we're weak after the first sales, perhaps :,
argely on account Of Governor Roosevelt's =
Message. The message is not a good rea- /,
on for bearishness on the Federal Steels .
National Steel. Steel Hoop. and other stocks =
Il companies known to be well managed
nd profitable. Declines such as occurred
esterday viii be taken advantage OF by ,
'eople who know the merit Of the securi- },
les. Federal Steel common went as high =
Is - 1-2, and then sold off to % IL at =
he close. The preferred declined a point. q
steel and Wire common declined from
Ugh OF 20 IL TO As at the close, and the =
referred stock went off l-2 points TO 80.
Gossip is especially optimistic regarding =
he Reading securities. but they declined !
harply with the remainder OF the market
yesterday. )
Sugar advanced to l35 81 yesterday
morning. and then sold of during the re- >
nainder Of the day 10 1872 - at the close. q"
;othing new as TO the status OF the sugar ,
var was learned Many sugar brokers.
ioweyer. consider the practically uniform I
ates quoted 10y all the companies and y
he refusal OF any companies to give guar
ntees a good indication that settlement J
nay be not far of. II Is suggested in some y
quarters that the annual meeting of the
american company may disclose informa- \
ion OF Importance.
Washington Stock Exchange.