The evening times., 1900-01-08

As was 10 have been expected. the new
uncertainty over The South African situa
uou caused depression IN the early market
today. Prices in London were of and the
opening on this side was al a decline Of
from a traction to two points or more
During the first hour there were only mr.
important changes from tie opening quo
tatonS and business was dull. which was
considered good sign OF inherent strength
Inc bears. in other words sepr1pd afraid %
venture heavily on the short side. and did
rot preclpitate the break tha many had
expected. The situation is an interesting
one The Brltish-BOer war is having an
influence apparently altogether out of uro-
portion 10 its significance 10 American in
terests Victory for the British at Lady
smith would almost certainly cause an i'm
mediate boom in prices while on the other
hand Boer success would cause heavy
bear selling and some realizing. For the
same reason. while the fate Of Ladysmith
Is in doubt IL seems not improbable that a
dull professional market will be the ruIe
tehind all these surface matters. however
-aretul financial people believe there is
certainty Of an ultimately strong and
ouoyant market and these people are buy
ing securities on recessions every day.
The news Of the morning was unimpor-
tant and the courses Of the market conse-
quenuy showed no diversity and no par,
ticular feature Of interest. The Vanderbilt
securities which have been particularly
strong for several days went off with the
remainder Of the market during the morn
ing. though il could be seen Il Il there was
good buying Of all Of the group at the low
er figures. Chesapeake and Cdio was more
buoyant than any Of the others. partially
because OF its gross earnings statement for
the closing week Of December and for the
first uf, he ~f
was one OF the most encouraging. vet pub
Hshed. The increase Of gross for the week
was S56.667, for the month $77.52S. and for
the first six months Of the year S4O7. .537.
NO new facts as to the eastern trunk line
deal come to light. except that it may in
terest some people that Presidents Cassett
and Galloway are to spend this week to-
gether at Atlantic City.
Louisville was off materially in London
and its opening on this side was at a con-
cession Of point more. The meeting Of
the directors of the company 10 declare
the dividend rate on the stock will take
place tomorrow and it now seems certain
that this rate will be 2 per cent for the
half year. The statement of the company
for the half year will be given out also
This will show earnings at the rate of
between and 10 per cent on the stock
The second half Of the company's year IS
usually net quite so good as the first but
IL is predicted with much positiveness by
friends Of the company that the earnings
for the entire year will be at least per
cent on the stock.
There Is much talk Of heavy buving of
Southern Pacific by the interests which
advanced the stock some time ago. II IS
said that the price aimed at this tine bv
the clique will be So and that there are
good prospects Of its being attained. Wee
President Gates said yesterday. recqr7l7g
the earnings OF the company, that they are
by far the best on record, and he is imply
Borne out by the formal statements in 1e-
cent months.
Sugar declined to 12S 1-2 early in the
day. The selling was mainly if not wholly
for short account and friends of the COM
pany are persistent in their assertions that
good advance in TIE price Of the stock is
at hand.
Pacific Mail declined a point o. more
much to the disappointment OF these who
believed the recent advance was to be a
permanent one.
The grangers were of with the remain
der Of the market but were well bought on
the decline
Washington stock Exchange,
Sales.-National Safe Deposit and Trust.
l00G127; Washington Loan ard Trust: 10
Ql65; Columbia Title Insurance. Gas;