The times. [volume] (Washington [D.C.]) 1897-1901, 1900-02-08

Of American securities In London was for
the short account 1t is the comment OF
brokers of experience that very few of the
thousands Of shares sold by London have
been shipped to this side. AS matter of
fact, Londop probably holds very small
amount OF American stocks at the present
time Money was easy yesterday. as usual
of late. The banks have gained from the
subtreasury since last Friday about
81, 500 600.
Union Pacific common was one of the
most buoyant stocks on the list yesterday
on the announcement from an excellent
source that a dividend of 1-2 per cent
will be declared on the stock at the meet
ing of the directors today, Apparently
there is no doubt that this action will be
taken II may be remembered that when
the dividend on this stock was not de-
ciared month OF two ago the statement
was made in this column on the authority
of an ilsider that the directors held it Up
| because. in the condition of the market
at that time. it could do no good The
corrolary OF this is that the directors now
expect to see the announcement have an
excellent effect. A decline in the stock
on realizing is not impossible today il the
announcement of the dividend comes be-
fore the close, but 1t is more than proba-
bic that the stock is destined to reach
considerably higher level In the near
future net gain of IS was made yes
terday. the close being at 80 "a Inc
highest price reached was 80 rs. The
other Pacific securities held their own
but made no net gains.
The ST Paul people also promise an in
creased dividend for the common stock,
though their action will not be taken until
next month. Ii has been rumored here
tofore on several occasions that the divl-
dend rate was to be made per cent, and
the rumors have proven TO be unfounded.
This time there is the highest authority
for the prediction that there will be either
an extra" or the formal announcement of
a regular per cent rate. Z. c. Carley,
who is in Washington for a day or two on
business for his firm, made the statement
to the writer yesterday that the increase
has been finally decided on by the com
pany. The grangers were particularly
buoyant yesterday morning, but suffered
with the list generally Ia the afternoon
raid. They recovered their losses largely
before the close. The high prices reached
were: St Paul. 125 -; Burlington, 127;
Rock Island. III Is; Atchison preferred.
Ga rs, and Northwest, 1S3 ass.
Sugar was one of the features of the
market yesterday While almost the en-
tire list was tumbling 1t made net ad-
vance of Ia closing at 112 Ia, after get
ting as high as 112 rs One of the promi-
nent brokers said yesterday morning of
Sugar: THE stock loaned fat at last
nights closing. We can't help feeling that
the profits of Sugar are on the long side,
as there are too many rumors current that
it will sell at par and the dividends be cut
to per cent" Up 10 the close yesterday
this view of the situation was very much
the right one. and il is not impossible that
it may continue to be.
Metropolitan was the other conspicuously
strong stock of the day. II advanced half
dozen points and closed at l19 Ia, within
small fraction of the high point reached.
Manhattan was also strong. though 1t made
little net gain. 1t was said that the Whit
ney crowd and the Standard Oil people were
the chief buyers. or. perhaps. in the trae-
ton group the two interests may be con-
sidered identical l. is a matter of COM
ment that MIR. Whitney and his following
are among the most aggressive buyers OF
the present bull market. and there is
disposition in some quarters TO look upon
him as the present real market leader. 1t
is said that his interests are large and i'm
portant and that his backing is practically
unlimited. The idea that Mr.. Whitney
went down in the December panic has been
given up entirely since his Gas deal became
known.
The steel securities were somewhat neg
lected yesterday, as was perhaps to be ex-
pected No one group OF securities is doomed
all the time. no matter how strong IL may
be. and activity in the grangers New York
Central, and the other Eastern trunk lines,
the Pacific securities, Sugar. and the trac-
ton stocks seems for the moment to have
the steels. Conservative people,
however. believe that the advance in these
stocks is not vet over by any means.
The National Steel Company people will
hold meeting on March ]. it is said. A
fourth dividend of ! "a per cent on the
preferred stock will be declared, and there
will also be a dividend for the common
stock. probably at the rate of per cent
The company earned net a trifle more than
Sit 000. 600 during the past year 1t has a
ing in Wall Street. The National Company
will have its steel rail mill in operation on
April l. with a capacity Of 1000 tons lay.
The statement Is made by officers OF the
concern that orders already received make
It certain that the entire output oal be
sold al top prices.
An important meeting Of the directors OF
the Tennessee Coal and Iron Company will
be held on February 90. and st is said that
statement Of the business OF the COM
pany will then be made public. One Of the
directors is authority for the assertion
that the statement win be so favorable
that Wall Street will be simply para
lyzed" The directors OF the Federal Steel
Company will meet next Tuesday There
is every reason 10 believe that a dividend
of i-2 per cent will then be declared on
the common stock.
Following are the figures OF the New
Ycrt Central gross earnings for January:
Month January sl S5S:i ls ssss.ss;
From july l................ 32Ga3,is9 ..49s, 400
The earnings of the Fall Brook system
for January. 1899 were Sl59. 1875. deductine
this. The actual increase for January 1900,
is 5000 ae2 The earnings of the system
from July 10 January 81, In the previous
year. were Sc.107. 052; deducting this the
actual increase from July is sl.S9l,3s.
There is information from usually
good source that an advance in Wheeling
and Lake Erie common Is likely to occur
shortly
Wnshinston stock Exchange.
Sales-Riggs Fire Insurance. e0dS 10: