The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-15

have to and because you wish to- The
shipments this week are likely to be $10.-
10000, large rart Of which will be for
the bond syndicate
The grangers were perhaps the features
OF the market They all advanced we'll
ana closed the day with good net gains.
The prices attained were the highest on
this movement. The rain two days ago
undoubtedly broke the drought in the corn
regions and it lie now promised by people
that have the best OF information that
the corn crop win be the largest on rec
ord The meaning OF this 10 such roads as
the Atchison. the Rock Island, and the
Burlington. cannot be over-estimated.
London bought these securities and others
yesterday in fair volume and Chicago also
bought. mostly to cover short contracts.
st. Paul advanced from 112 rs. a high
opening. TO Ia is. and closed at the top.
Burlington advanced to 127 81 and closed
at i27 SIS. Rock Island advanced to los
Ia and closed at los Is. Atchison was
strong and IL closed at the top with gain
OF IL. The prospects for the grangers are
excellent They have been selling at too
low a price and the almost certainty of
good crops makes their prices still further
away from intrinsic value.
The steel securities were among the
most interesting yesterday for two or three
reasons. Buying began in the group at the
opening, and the prices advanced well all
day, the close being ct or near the top In
all OF the securities. Federal Steel COM
mon advanced from "a TO 81 1-2, closing at
the latter figure. The preferred advanced
nearly point. Steel and Wire common
advanced from "a "a to 81 rs and closed
at IS 81. So much for the advance in
prices. The buying was also most signif-
can't Louis Bell was said to be a very
heavy buyer, and Il was limited. in quarters
that have been well-informed regarding tn
group. that he was purchasing for the in
siders. Two interesting pieces OF gossip
were heard. One regarding the Fed raj
Steel Company was that the Flowers are
buying its securities and talking of much
higher prices FOR them. One Of the Flowers
was quoted as offering to bet that the COM
pany viii cara more in 1890 than il did in
1899. The other story is that Mr.. Gates
will become president OF the Steel and wi e
Company when he returns to this country.
1t was said that he is behind much of the
Bell buying. and that the directors wish to
have him become the president OF the COM
pany and have persuaded him to consent.
The death of Coils p. Huntington. an
Eounced soon after the market opened had
no effect on prices, even in the stocks of
the Huntington properties. II was at first
feared by some that there might be tum-
biz in Southern Pacific, but after the first
prices showed a small recession from yes
terdays closing. there was another ad-
vance. Pacific Mail was not traded in dur !
ing the day, but the bid price was up Mr.
huntington was an old man, and il was
known that his death must soon come in /
the natural order 1t is understood. too. |
no had faf
cally. so that there will be no friction over
them.
Brooklyn Rapid Transit was the feature
OF the morning hours. 1t got above 80 early |
in the day, and seemed inclined to go
higher. Later IT quieted down and closed |
at 80. Talk of the report of the company
was general. The documen; must be pub
lished according to law today. The street
is rather hopeful in It's expectations regard |
ing 1t, II the stock should advance seve. al
points on the report, il might not be bad
idea TO sell out, for temporary decline OIL
the realizing of the good news.
The report of the Manhattan Railway
for the quarter ending June 80 was an ex-
cellenf one. Net earnings were s1,013, SOC,
an increase compared with the same quar-
ter last year of S125, 2Ss. For the fiscal
year the net earnings of the system in
creased SAL, 625. The company had a sur
plus of s109,513 against a deficit OF $685.
4S9 at the close of business last year.
Manhattan was fairly strong like Brooklyn
yesterday getting as high as 90, and clos
ing at the top. There are many tips that
the stock is going higher.
The passage of the dividend on Iowa
preferred stock was not the occasion of
much surprise in the street. The new
ru1.a tn 4r.Cl ,fa-l
the disbursement for a time.
Sugar was rather weak 1t opened at
125 and sold down TO 1913 5-S, closing at
123 "a. There was a slight recovery dur
ing the last hour and many believed that
it was to be permanent. but in the last
fifteen minutes Of the day the stock broke
again. There was no news regarding the
trust or its stock
The earnings of the Northern Pacific
for the first week of August showed an
increase Of $50, 900. The common stock
yesterday advanced TO % IA, and closed
at 50 Is with a good net gain. The other
Pacifics were fairly strong.
Baltimore and Ohio common was one
of the few weak features of the day. Ii
opened at 20 is and sold as low a. 70 Ia,
closing at "a. The preferred was little
dealt IN, and closed virtually at Inc open
ing price. The selling of the common
stock was heavy. 1t was explained when
the July net earnings statement was made
public. The earnings were 1916, 14S show
ing a decrease of s239, 900.
Washington Stock Exchange.
sales-U. s. Coupon 3's, s1O0G103 ga;
Real Estate Title. 1OdsO; Mergenthaler
Linotype, 15G1s7 Ia, 1od1S7 Is; Ameri-
can Graphophone Co., 1O0G11 AIS; 1909
IL: American Graphophone CO. Pref, 40d |
70 Ia. After Call-CapitaI Traction, 1000
In9 1-2-seIler 90: Mergenthaizr Linotype