The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-03

1901 to stockholders of record al such
date as the board of directors may direct
the books shall be closed for the payment
thereof; and that the balance OF surplus
earnings remaining shall be appropriated
for improvements, betterments, and addf-
lions to the property and equipment made
during the year ended June 80 1900. The
transfer books close August Is at o'clock
and reopen September at 10 o'clock
1t is stated that after the payment of
the entire per cent on the common stock
out OF last years earnings there will be a
surplus of 100000 or more to be applied
on the improvement and bettermeGt fund.
II has been said in this column hereto
fore, that the declaration of a 4 per cent
dividend rate by the Baltimore and Ohio
should be considered bull argument of
the utmost Importance and this is the
view that is being taken by conservative
people generally Of the action of the di-
rectors. 1t can hardly fail to make he
stock advance in price handsomely in the
near future. Yesterday there was realiz-
ing on the publication Of the good news,
and even short selling. The stock opened
at &c IL with a good gain over night, and
closed at "a 3-4. within a fraction of the
lowest price of the day.
few points of interest in the market.
Continental Tobacco preferred sold of
badly in the first hour. getting as low as
"A 1-2. II recovered only a point of this
decline during the remainder Of the day
There were rumors that the dividend on
the stock will be passed. but no foundation
for the suggestion could be learned. All
the reports recently have been that the
Tobacco companies are making handsome
profits and there is more known fact TO
support this idea than the other. The
American Tobacco stock sold off to 90 IS
and recovered to 80 at the close.
The grangers and the Pacific stocks
were almost the only securities that
showed any tendency to strength during
the entire day. With the exception OF
Union Pacific, however. they were all in
active and all had very small fluctuations.
Union Pacific advanced to SO 3-S and closed
at SO is, with a small net gain for the day.
London was q buyer OF the stock. The
grain market was rather weak, and the
outlook is good for excellent crops in
nearly all sections. Some OF the most con-
servatiye people are advising the pur-
chase OF these securities recently.
Talk of good news regarding Brooklyn
Rapid Transit continued yesterday. One
suggestion was that mos: important in
terests will be found TO be in control or
to have a very large voice in the affairs
Of The company" The idea that the Ne
tropolitar, or the Pennsylvania. or the
Vanderbilt people are buying Brooklyn
Rapid Transit for control is a very old one
and it cannot be learned that it has any
more foundation in discoverable fact this
time than heretofore. Other gossip refers
TO the earnings statement Of the company
which it is said will be of a very cheerful
tenor, and much better than has been pre-
dicted. The meeting OF the company did
not take place yesterday, and it IS not VOW
known in the street when 1t will occur
Brooklyn was fairly strong yesterday with
an advance early in the day TO SO, which
was nearly all lost in the afternoon.
Sugar IVES more inclined TO advance than
to decline yesterday and the close at
121 3-S while not the best price OF the
day, was a net gain. There was no news
regarding the affairs OF the trust. Cuts
in prices are not unlikely, owing TO the
approaching end OF the busiest season. 1t
is pTobable that the bears will take ad-
vantage Of these cuts to force down the
price OF the stock If possible. At the
same time many shrewd market people
would not be surprised to see an advance
- TfVn in he