The evening times., 1900-01-08

As was 10 have been expected. the new
uncertainty over the South African situa-
uon caused depression in the early market
To-Day. Prices in London We're of and the
opening on this side was at a decline Of
from a fraction 10 two points or more
During the first hour there were only ur-
important changes from the opening quo
tatlons and business was dull which was
considered a good sign Of inherent strength
The bears, in other words. seemed afraid TO
venture heavily on the short side and did
not preCipitate the break THAI many had
expected. The situation is an interesting
one. The British-Bo war is having an
influence apparently altogether out Of pro-
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 Ladvsmith
is IN doubt il seems not improbable that a
dull professional market viii be the rule.
Behind all these surface matters however.
careful financial people believe there is
certainty of an ultimately strong and
buoyant 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 that there was
good buying of all Of the group at the low
er figures. Chesapeake and Ohio 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 Sly plonfhe of he Hccal ,-aa-
was one Of the most encouraging. yet pub
lished. The increase Of gross for the week
was $56,S67 for the month S7752S, and for
the first six months of the year $40. .537 4
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 a point more. The meeting of
the directors of the company to 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 8 and 10 per cent on the stock
The second half Of the company's year is
usually not quite so good as the first but
II is predicted with much positiveness by
friends Of the company that the earnings
for the entire year will be at least 9 per
cent on the stock.
There is much talk of heavy buying of !
Southern Pacific by the interests which l
advanced the stock some time ago 1t is 4
said that the price aimed at this time by !
the clique will be so, and that there are /
good prospects Of its being attained. Vice |
President Gates said yesterday regarding |
the earnings Of the company that they are !
by far the best on record, and he is amply |
borne out by the formal statements in le- 1
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 /
a good advance in TIE price of the stock is
at hand.
Pacific Mail declined a point or more.
much to the disappointment of those who
believed the recent advance was to be a
permanent one.
The grangers were off with the remain
der of the market, but were well bought on
the decline.
Washington Stock Exchange.
Sales. Sensational Safe Deposit and Trust.
l00G127; Washington Loan and Trust: 10
G165; Columbia Title Insurance: 6@5;