The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-06

/ stubbornly strong, recently, an indication
ell-nigh unmistakesble in this case that
I the holders Of the frst-class railway Sc
curities intend 10 wait for higher prices
before they sell. The bears with their ut
most efforts have failed to dislodge any
Of these stocks worth mentioning. Now
the only bad news that has been feared is
out. Apparently a good advance should be
looked for
Sugar opened near par. and with very
little hesitation advanced to los 1-2 be-
fore there was anything more than 4
/ vague intimation that the directors meet
I ing would be held yesterday The adj
I vance was due to heavy covering and some
buying Of long stock II cannot be said
10 what extent the short interest has COW
/ cred, but ii is believed that it is still
/ pretty well extended, if not distended
! When the announcement of the cut was
made the price dropped to 81, more than
! s points. From this it recovered to 80 L.
| the closing quotation. The buying during
| the last half hour appeared good, and the
! street is inclined to optimism regarding
1 its probable future course. The dividend
! is 6 per cent. and par is a low price for a
/ per cent stock even If ii were known
that the rate would not be again ad-
vanced. The company is not cutting the
rate because business is dun or because
| there is any less demand for refined SUI
| gar. As a matter Of fact. the company is
/ exporting more sugar than ever before,
/ and still has virtual control of the great
bulk OF the business in this country. There
! are few possible reasons for the cut to per
I cent. The company may desire to carry its
! fight forward even more bitterly than here
tofore and may wish TO use the dividend
money for this purpose. Or it may have
been considered desirable for the time
being 10 stop paying such large dividends
while Congress is in session discussing
colonial and other questions, and while
the political parties are formulating the
antitrust planks in their platforms. In
Ieither Of these cases is there any reason
for sugar stock selling below par because
for a short time the stockholders will get
only per cent on their money.
OF other news yesterday there was little
The net earnings report of Rock Island for
January was added TO those already pub
lished. The showing is an excellent one.
The increase for the month was ST. $40.
Il is announced that the meeting of the
St Paul directors will take place on
Thursday 1t viii be decided at this meet
ing if the dividend rate shall be increased
from 5 TO per cent or if any extra divi-
dend shall be paid. The tipsters all make
very positive assertions that there viii
be no change in the rate II is pointed
out by them that the company has been
always ultra conservative. and that its poll
icy Of expanding large amounts out Of
earnings for betterments has been particu-
larry noticeable during the past year At
the same time il is known beyond ques-
tion that many OF the directors expected
a 6 per cent rate a few weeks ago. and it is
not known as yet from any official source
that they have changed their minds. The
regular rate would not hurt The stock, but
an advance TO 3 per cent sen!-annually
would be a strong FLIP for il. The grang-
ers were strong yesterday but with the
exception Of Atchison preferred. they made
no particular showing Of activity. This
stock was bought heavily and advanced &c
Sc - at one time. The close was at
e. IS. The street is friendly to this
group.
Peoples Gas was one OF the features Of
the list yesterday. The stock has been
weak for several days. but the attack on
it seemed 10 climax yesterday The high
price of the day. 81 IL, was reached near
the opening and from that il dropped
quickly TO % Ia. The close was at 90 ID.
1t was understood that some kind of con-
ference was on in Chicago between the
Peoples and the Ogden companies and for
the most part the gossip regarding it was
unsatisfactory. One Chicago despatch.
however. stated the belief that the Peo-
pies company will secure control of the
Ogden before many days have passed. This
does not seem in the least impossible The
talk OF the usual attempts at political
Matchmaking is heard again, but this need
Il l. a --rr-
market people are convinced
that the bottom price has been reached IN
the stock, or very near it.
Nothing new developed in Third Avenues
affairs yesterday. The stock opened at 81,
advanced rapidly TO IS 1-2 declined with
Sugar In the afternoon TO SO 1-2. and closed
at So. Brooklyn Rapid Transit was strong
all day. though no net advance was made
in 1t. u was stated in some Of the de-
spatehes that The special grand jury which
has been investigating the charges against
the supposed enemies OF the company has
found several indictments The names of
the parties indicted were not given out for
the reason. so It was stated, that arrests
would be made first Il seems not impos-
sibe that a quick upward movement NAV
be begun in this stock in the near future
The other traction securities were quiet
The gross earnings Of the Louisville and
Nashville for the fourth week Of February
is quite up TO The recent fine record OF the
company. showing an increase OF SS1. IFS. !
The other statements Of the Southern rail-
ways for the week are expected today. The
full figures OF the net earnings report OF
the Norfolk and Western for the month OF
January arc as follows:
Month q January: Increase
Gross earnings ..........-..s col .3G5 s23g 100
Operating expenses ...-.....- Gp09i4 30 2g3
Net earnings ......-...... 5l0s2I 5000, 407
Charges ...-.....-.-...-...-. 1902G6 s.469