The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-06

but many conservative brokers and trad
ers seem TO consider yesterdays little
boom only traders rally due to short
covering. and TO believe that the recess
stems will be continued today or later IN
me week. The market has not vet had
such decline as the bsars and even many
conservative bulls have hoped for The
little people have not been shaken out to
any great extent. More than this Dcccm-
Der has only begun, and December is
usually month of declines, owing to
money market ard other technical condi-
lions. II is probable that two or three
points more recession would be worth
several points added to the top Of the
upward movement when it once gets
under way in earnest. The important
people have not been shaken in the least
in their belief that such large advance
in prices will come this winter They
have not sold their stocks and are not
likely to for some months 10 come. The
professionals have sold. however, and it
is these people that are now attempting
to get prices lower in order that they
may buy back what they have lost pos
session CT.
The movement of money. as far as it
is known, has been against the hanks
this week. Apparently they have lest
S3,000.000 or more. The statement is likely
to be a poor one. There is some posi-
blity of manipulated advance in the
call loan rate before the end of the week,
though financial men do not look for any
real scarcity of money this winter.
The general market did not begin to
show much strength yesterday until near
the close, but the steel securities. led by
Wire common. were strong from the
opening. The break in Wire had been 50
large and SO quick that rally was
thought to be due even by many people
who are not particularly attracted by the
prospects of the stock. 1t opened at ~,
well above the close Of the day before.
and sold up nearly to 43. closing at the
top. Federal Steel was quite as strong,
with an advance from ~ Ia to 81, and Il
closc at so IS with coed net gain. Ten
nessee Coal and iron advanced points,
and closed with coed net gain al 6S IA,
and Colorado Fuel and Iron advanced to
81 3-S and closed al 81, up from ~ and n
fraction.
II was said by the rumor moIgers that
the buying of Wire was for the Widener-
Elkins- Dolan people. and that il was i'm
pcrtant and significant OF developments
soon TO be made known. II seems rot i'm
probable that these people may have
bought the stock around 40, for it looks
a good proposition at that price ii one
has the money to carry il and TO wait II
necessary. And. moreover, If they have
been buying, it is not to be doubted that
they will at crce begin TO exert their i'm
portaut influence toward lettering its
position. If they could crowd the pres
ent management cut of the company .hcy
would undoubtedly be doing a good thing,
but there is no Indication that they have
any such intention. Some interest in the
stock which is dissa tsied with this pres
ent management inserted an advertise
ment in the papers yesterday asking peo-
pie to send their proxies 10 New York in
the interest of change As to Federal
Steel. the word has gene around from a
source which seems to be good that the )
per cent dividend on the common stock
will be paid without fail.
Several earnings statements fer the
fourth week of November We're given out
yesterday, and they were nearly all good.
The Missouri Pacific figures show an in
crease O.; $4,000 for the week, decrease
OF sii COO for the month OF November, and
an increase of s2,es0G COO during the cal
endar year 10 date. The Louisville and |
Nashville gross earnings show a decrease !
Of s52 i16 for The week. I decrease of s45,- /,
al for the month and an increase of S. |
252 from July 1. The Norfolk and Western !
gross increased in the week s1s.s16. in the |
month sos ,0SG and in the period from July /.
! ss27.9o5. The Chesapeake and Ohio in
crease for the week was s50.s3l, for the
month was sl2c.351, and from July vas
s9os,T7s.
The Northern Pacific statement for Oc-
iober and for the fiscal year TO date is
an excellent one considering all that has /
been said OF the bad slump in earnings |
tina. would be the result OF the poor wheat |
crop. II is said that the showing from !
this time viii be much better. The figures |
are as follows:
October: |
f.-os- 20 qsfi d.e- Ia. I