The times. [volume] (Washington [D.C.]) 1897-1901, 1900-07-18

and miners and farmers of the country
are reap:ng the benefit of this tremendous
foreign business expansion. Trade reports
at home are appreciahly more hop aful.
The prospect is for a big revival OF BUSH
ness early in the autumn, IL not before.
The railway earnings may. and probably
WILL fail OFF somewhat in some instances
from the figures for the pas: year. but
even with the declines they are very GER
tain TO be among the largest in the his
tory OF the country, and to make an ex-
trenely profitable year for the companies
generally. The crop ms Is much more
hopeful than 1t was week ago. Conserva-
tive people have iooEel for this. but the
Wall Street news bureaus have been
predicting very nearly the anninilation of
TIE corn and spring wheat crops for the
year. Money is cheap ana plentiful. There
is the possibility that there nay be a tenn
porary hardening of rates, but this will
have an influence on the immediate mar
ket only. IL it has any. The logical de-
duction to be drawn from this is that
while the immediate market may have a
decline CT few points. and probably will
have the time to buy stocks for invest
mcEt is al hand.
The specialties were again strongly in
evidence yesterday. 1t would seem tt
the ciiques are taking advantage of the
little professional boom to advance their
securities as far and as fast as possible.
In addition to Baltimore ard Ohio aid
Union Pacific. there were Pacific Mail and
Sugar especially yesterday, AID few other
securities were doomed in a way entirely
at variance with the gene-a dulln' SIS.
Sugar was ore of the most interesting
stocks on the list with an advance to the
highest price of recent months, or indeed
since the slump of the stock below pr.
The top quotation reached IVES 121 rs ard
the close was q; 12i H. The highest price
on the advance week ago was 121 12.
and before that time for months the price
had tiuctua;ed between par and rs or so.
The advance yesterday was engineered. but
there can be little doubt that the reason
was to be found in the excellent coadi-
tons prevailing in the sugar business.
The trust is making money rapidly. Prob
ably its books would show that its profits
have never before been so tremendous as
at present.
Another of the speeial.ies that advanced,
and in this case rather contrary to the
expectations of the street, was Brooklyn
Rapid Transit. The talk has been bear
ish in the extreme as to the outlook for
the stock Poor business, POOR statemen mt
of earnings for the past year, the prob
ability that the lO-cent fare TO Gomez Is
land will have TO be given up. the income
tax, looming up in the near future, have
all been unpleasantly dwelt or b. the peo-
pie who were selling the stock short. AS
a matter Of fact ii is now said the chances
favor a decision for the company in the
10-cent fare case. Moreover. ii is stated
that the present business of the system is
the largest on record. There was a de-
cline at the opening. but during the re-
mainder of the day there was a bou, ant
market. The high price reached was 81 IA
and the close 53 81.
Pacific Mail was advanced three points
or the probability that there will be heavy
shipments OF troops and supplies to Caina
in the near future. The high prize reached
was 81, and the close at 20 l-2 showed an
excellent net gain for the day. The price
was the highes; in recent weeks This
stock is one of the best on the list intrin-
sicslly, in the opinion Of some of some of
the most conservative people. At the price
recently ruling s6.o0e .0e0 would buy the
entire company and 1t cannot be dolnted
that the actual appraisement value OF the
property would be larger than this. 1t
would seem extremely probable that a good
advance might take place in the stock row.
Before many months have past it is likely
TO sell far above its present level.
Two influences were at work on Balti-
more and Ohio common yesterday The
earnings statement given out the day be-
fore is superb. showing more than 10 Ter
cent earned on the common stock. But
the statement is made semi officially and
in a way hardly to be questioned that
= l,rr .r-ff1 aTr t.a istrtla
the stock this year The stock was fairly
active but the fluctuations were within
narrow limits and the close at 76 IS was
very near the close of The right before.
4 director is quoted making the state
ment that the company Wi. expend its
money for betterments this year and
that the question of dividend on the
common stock has not even been con-
sidered
Union Pacific common was again buoy
ant. selling as high as IS IS and closing
at IS - The other Pacifics were strong
There was talk Of the probability that
Union viii be advanced TO 60 5ut 1t was
said by some that the clique was begin
ming to unload before the elise of the /
day Missouri Pacific vas in mach better
favor with the traders than on Monday. |
II opened al 30 3-4 and closed at 81 IS.
Both corn and wheat were weak yes
terday. especially the former. which sold |
as loH as 3s 3-s and closed cnly = point !
above that figure. The news of lie corn |
crop continued most reassuring II was
not surprising under the circumstances |
that the grangers should show strength |
and even bGoyancy at times. Burlington, |
which was most hurt by the corn failure !
fumors. was particularly strong. advanc- |
ing 10 126 3-S and closing at 125 IA. Rock |
Island got rs high rs 1G7 is and closed at |
los IS St Paul advanced well at one time |
but was sold off later to the opening price, |
III. Atchison preferred got fraction |
above 10 and remained there until The |
close. at 10 lis. II is thought by many |
that the advance may 20 even further.
Illinois Central was strong. shaving an
advance Of more than point for ri,e day. |
1t closed al 1l9 IS.
The coalers were strong. though rather
inactive.
washin-tnn Stack T.Ncunn.e.
Saies-Coluubia r. R. IS: s5OOd112; |