The times. [volume] (Washington [D.C.]) 1897-1901, 1900-05-03

be exactly like other similar markets
! Prices are lower than is warranted by
conditions The Rockefellers. the Wander
! bits. and the other important market peo-
pie realize this and are absorbing securi-
/ ties There will be, on some near day. the
! beginning of an advance and then sharp
! covering movement which will send prices
! upward rapidly The entire street, meaTi-
/ ing all the smaller professional and semi
] professional Spectators is short Of the
market. As for the immediate future, it
/ is. Of course possible that there may be
/ further small recessions from day TO day.
/ Such at least is the view Of the general
situation taken by some careful and eX-
perienced market people. Possibly these
people are wrong this time with the
! Rockefellers. who have just been buying
. the control OF the Missouri Pacific Rail-
way and the NandeTbits and PenDsylva-
I mia people. who have been acquiring con-
! troll Of half dozen different lines through
4 out the East. Perhaps the small fry are
right in going short after a big decline
I when the market is dull on the bottom.
The exports OF gold this week will be
| several millions. On today's steamers an
/ amount anywhere between 5000 GOO and
/ s., coo coo will 90 out. The export move
ment will not last long. according to the
/ best authorities. Money yesterday con-
]
per cent The earnings statements OF the
day. including enc or two important March
statements we're all favorable. Other
news was unimportant Talk of the bank
statement this week is that It will be
good one despite the gold shipments.
/ Sugar was strong during the entire ses-
sion Il opened at ll2 l-2 and advanced to
! ZIG early in the day. There was recess
/ sion OF TWO points from this figure but be-
] fore the close another upward movement
carried the price to III. The close was at
I JIG IS at which the net gain was ABOUT
! four points While many believe the pres
ent remarkable strength Of Sugar due en-
tirely to manipulation, without anything
Intrinsic for its foundation, II may be
stated very positively that there are some
careful people who look for an carly i'm
portant announcement OF change in the
Sugar war situation. Ii was said yesterday
in a quiet way in certain quarters that
negotiations looking toward a much better
understanding in the trade are on foot and
likely TO be successful.
The Norfolk and Western March state
ment shows an increase In gross earnings
Of Sl72 029 and an increase in net of Sl46.-
SO. The gross earnings since July have
increased Sl.694 Isl. and the net have in
creased 81. $50. The Mexican Central
S1ss coo. and from January increased $685.
1872 The Union Pacific earnings for the (
month were sS75. 204. an increase OF S239,-
500 The net since July increased 1913, 7S4 /
The gross earnings Of the Metropolitan (
Street Railway Company for April show an |
increase of S7S 52l. The increase in gross |
since July / has been $l,437, 723.
Among the interesting minor features OF |
the day were Long Island Railway. which |
continued its big advance during the /
morning on heavy buying, both for specu-
lators and investors apparently. Inc /
talk Of Vanderbilt buying for control in I
duced some of the spectators to purchase
the stock. There was also much talk OF I
the probability that the Brooklyn exten- 4
sion Of the rspid transit tunnel will have /
its terminus al the Flatbush station Of the /
Long Island line. which might, ii was (
thought make il possible for the line TO
run its trains through the tunnel to Man
haitian Island.
The steel securities generally we're sold.
and prices went of fraetionally in trust
stocks but several points in others. The
new reason for cynicism regarding these
stocks was the talk regarding the Repub-
lie Steel Company difficulties. 1t was
said in some quarters that there is likely
10 be a suit for the dissolution of the con-
Germ into its constituent companies. The
foundation for this rumor is not official,
and there is no reason to believe it. Off
GERS Of the concern, in fact, deny il posi-
lively The company has been prosperous
and its business is at present in excellent
shape
As for the general condition Of the
steel trade. new statements from authori-
ties are made every day, which seem to
leave no doubt as to its prosperity. Mr..
Carnegie is quoted by a good authority
as having made the statement before he
sailed that business is in an excellent
condition and the alarm regarding it en-
tirely unfounded. He prophesies pros
perfty for at least the remainder of the
year. A director Of the Tennessee Coal
and Iron Company is also quoted as stat
ing that advances in the price of iron are
more likely than declines. Tennessee
Coal and Iron was the weakest stock OF
the group yesterday. with a decline Of 5
points TO IS. 1t recovered to rs IL before
the close. American Steel and Wire COM
mon stock al its present price is paying
about IS per cent on the investment.
It's dividends have been promised by the
directors Of the company for the year
Missouri Pacific was one Of the strongest
OF the railway list. although it made a net
loss for the day. closing at IS 3-S. There
is TO be a continuance Of Mondays ad
journed meeting OF the directors Of the
company to-day. II is stated official
authority that a Standard Oil man will be
made a director Of the company, and
probably more than one II now seems
probable that there will be no dividend de-
clared Immediately. but all large interests
in the property are in favor Of dividend,
and there will be a disbursement certainly
in the near future. Holders Of the stock
refuse to sell out
The New York Central strike situation
continued to have a depressing effect on
that stock, and on the railway list in gen.
eral On any further decline Central will
be bought by important people.
An advance in Baltimore and Ohio pre-
ferred is likely. The early retirement OF
the stock is said to have been decided on
finally.
Washington Sr"cle Exchange.
Capital Traction IS. $4,000 a 106 1-2.
81 600 n 106 Il. 81 600 n 100 Is; Peoples
Fire Insurance. S q 67-s: Real Estate
Title Insurance 10 n So IL: Capital Trac-