The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-16

a plentiful supply and the entire country
is well supplied. The fund is being added
| to daily from the mines, and the ability
| to secure more is daily increasing through
| the couDtry's enormous excess of exports
| over imports. That this is true is re-
markably illustrated by the fact that while
SS.CC0,CG0 in gold left this country yester-
day and while the banks have lost to the
Sub Treasury more than $4,000 coo since
Friday. the rate on call money yesterday
was l IA TO 1 1-2 per cent, almost the
lowest rate that has ever been seen. 1t
is stated that this is largely owing to the
fact that the New York banks expect to
receive $lS.0G0, coo from the Government on
Saturday. due through the issuance of
the new per cent bonds. This payment
viii give to the street big block of the
money now idle in the Treasury and make
funds more plentiful than ever. What the
outcome of the monetary situation will
be 1t is impossible to say. 1t seems not
improbable. however, that, when the West
begins TO draw on New York for cash with
which to move the crops, there may be
slightly higher rates Not many people,
however lcok for any stringency this
autumn.
The feature of the market was un-
doubleday the coal stocks with Jersey
Central in the lead of the group. This
stock advanced to above l35, the opening
having been at $50 and a fraction and the
close on Tuesday at 100 IL. Reading
first preferred advanced to above so. and
Ontario and Western and Wabash were
both strong. Pennsylvania nearly reached
100 The coalers have been among the
securities particularly mentioned in this
column from time TO time as good TO pur-
chase. because of the phenomenally ex-
cellent situation in the coal trade. There
has never been a time heretofore when
the prospects Of these lines have been so
bright. The especial story that was cir
culated yesterday regarding Jersey Cen
tral was that the Baltimore and Ohio peo-
pie are buying the stock for control.
The grangers were all buoyant though
the net advances in prices were not very
large. The Atchisons were perhaps the
best OF the group. Atchison common ad-
vanced TO above 90 on excellent buying
said to be for large interests. The talk
of a dividend for the stock in the near fu-
ture was revived. II would seem that.this !
gossip is probably founded on very little.
The company ought not to think of de-
claring dividend ON the common stock I
so soon after the preferred has been put
on dividend basis. and ii is highly i'm
probable that it will do so. The stock |
is not selling at too high q price, how /
ever. The preferred acted well all day,
as well as the common. The especial
piece OF gossip regarding the Atchison
yesterday was that the road has lost its
chief competitor in the death of Mr..
Huntington. and that it may now expect |
10 have very large share of the trans
continental business over its new line
into San Francisco The fine outlook for
the corn crop Is also particularly cheer
ing to holders of Atchison securities. St
Paul advanced to 115. Burlington to 12s
and better and Rock Island to well above
los. Sentiment regarding the entire
group was cheerful. There was London
buying in all these stocks.
The statement of the Brooklyn Rapid
Transit Company will be issued probably
before the END of the week. 1t was given
cut yesterday that no decision has been
reached positively regarding 1t, but that
there seemed no reason why it should not
appear by Saturday. The general impress
sion that the law required the issuance of
the figures yesterday seems to have been
2 mistaken one. Brooklyn was strong all
day yesterday though it did not advance
much after the first hour. The price got
well above 60. a new high level for this
movement. There was gossip in the street
of Pennsylvania buying OF the stock, but
10 good foundation for the story could be
found.
Sugar was again weak in the early part
OF the day but later It had some advance
and a generally better tone was shown
among the traders in the stock. The talH
of more than the recent dividend disburse-
ment at the end OF the present quarter is
again heard.
poth the baltimore and Ohio securities
sold "ex' dividend yesterday. The COM
mon was fairly active, opening at II IL,
or off rather badly. and later recovering a
good part OF its loss. This stock will be