The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-25

net earnings reports OF some OF the
granger lines will be published this week.
From reports Of officers Of the different
systems during the past week il is known
that the records will all be excellent. St
Paul sold Eek" dividend II per cent on
Friday, and al the close yesterday had re-
gained a portion Of the dividend. although
this group has been comparatively in
active this week. Rock Island Will sell
'ex' on March 30. The stock has ad-
vauced well during the past week as the
result of the operations OF the clique
that is operating in it, but il is understood
that further advance Of Importance is
likely TO occur.
The traction securities have been weak.
comparatively though prices yesterday
at the close showed favorably with
those Of week ago. Fear Of the
franchise tax and bear talk OF poor
business and poor prospects Of divi-
dends. re-enforced by the Third Avenue
example. have prevented the group
from participating in the general advance.
1t cannot be said if these conditions will
continue to have this effect this week or
not. but there are many careful people
that expect to see a squeeze Of the shorts
in Metropolitan and Manhattan very much
like that In Third Avenue before next sat
urday. The shorts in Third Avenue are
understood not to have been able to cover
as yet on account of the lack Of stock in
the market The spectacle Of these gen
tlemen hanging in the air depending on
private settlement TO let them out with
the least measure Of damage is not calcu-
lated TO make short selling Of the group
popular.
There has been a food Of bear talk re
garding Sugar stock since the publication
Of the report of the company to the Massa-
chusetts authorities and since the circu-
lation OF the story that negotiations for
the settlement of the sugar war are off
again. Their effect on the stock has been
only to show the strength Of its support
The close yesterday was at a net gain for
the day and for the week. The Sugar
company does not attempt in its report
to hide the fact that IL has been hurt
financially by the sugar war. The sur
plus has been cut into 81 600 600 during the
past year The very frankness of this re
port ought perhaps to make people wonder
il the war is not near an end and Sugar
on the verge Of an upward movement.
Predictions regarding stock so skillfuIly
manipulated are not worth while, how
ever.
Much bullish gossip regarding Colorado
Fuel and Iron has been circulated during
the week. a statement concerning the
earnings and capitalization Of this com
pany with those Of the Tennessee Coal and
Iron Company in this column yesterday
has attracted some attention. II is a most
favorable showing for the Colorado con
Germ.
The soft ooalers have been very strong
during the week and there Is good reason
TO believe that they will be advanced fur
Their in anticipation Of the advance in coal
rates on April l.
/. d. Fowler. the broker. expressed the
opinion yesterday that the advance in
prices viii continue. He said. regarding
the basis for the big movement IN security
prices:
Government 2 per cent bonds. selling at
lo5 Ia. guarantee a higher market value
for every dividend paying security, and /
believe low-priced railway stocks. showing
earnings to warrant dividends lin the near
future will prove "A most profitable invest
ment. The recent financial legislation has
been highly satisfactory 10 Wall Street and
has encouraged capital Easy money ad-
vances security values The resumption Of
specie payment was followed by boom IN
security values heretofore unknown. The
passage Of the Sherman silver purchasing
act gave us two years Of unusual business
activity and exceptional advances in secu-
rites and realty value. We are expert
encing today the most active business de-
mand and most healthy and prosperous
condition this country has ever known.
"The Secretary Of the. Treasury is as
sured OF the success OF the refunding clause
OF the Gold Standard bill. This gives a
basis for values unknown before in this
The figures show: Premiums on
bonds. $4,000 900: subsidiary coins. 500
600 eco: bank circulation to par value OF
bonds, S24 600 600, and new bank circula-
ton, 500. 600 600 Should . per cent Gov
eminent bonds sell at par, the new bank
believe, viii reach $500, O00,-
600 within the next twelve months"