The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-10

! killed German officer and several SeaHeI
caused the first slump yesterday. and tn
second story that the British had s4re e'
an overwhelming defeat at Ladysmtl
caused the final decline in prices An
fer this reason. too. it seems probab nov
! that the first decisive news from the sea
of war will be the signal for an importan
movement in the market, either up o.
down.
The real news OF the day was all good
| The banks have balance in their favor
with The subtreasury, since the last banl
statement. of $3.50 COO Money yesterday
! was easy all day. the highest rate for cal
! loans being ) 10 per cent II is the gem
eral opinion among financial people that
the shipments Of gold to London have
! ceased. and that on the other hand a con
siderable flow Of money from the interior
may be expected during the remainder OF
the month. II seems certain. therefore,
that the bank statements will continue to
! improve. The declaration of dividend
Of ] ii per cent on the Federal Steel
common stock and the declaration of a
per cent dividend on Louisville and
Nashville were made as had been expected.
The Pressed Steel Car Company has de-
clared a dividend at the rate Of per cent
on its common stock. surprise to most
people and an agreeable one. Thus three
more in the long list OF new or increased
dividends for the year have been made.
The steel securities were strong in the
early hours Of the day on account Of the
Pressed Steel Car dividend and the ex-
pectation OF the action OF the Federal Steel
directors. Later, like the remainder of
the market. they declined. 1t is l. general
belief among conservative financial people,
bnN ba. will hn
strong and buoyant with the first favor
able market and there are many even that
believe they will be the leaders Of the
upward movement. This will be wellnign
assured If a further dividend is declared
on Federal Steel, as many expect, and
rate of per cent or better established on
Steel and Wire common.
There is much uncertainty over the Fed
eral Steel dividend. The rate of ) per cent
was declared. as had been predicted, but
only / Ia per cent for one ,narter. This
does not fulfill the advance suggestion OF
insiders of back dividends Tor last year.
il was said yesterday in enc quarters
that further disbursements will be declared
in few days, and this may be the e&pla-
nation. but such a method does not COM
mend itself as a particularly reasonable
or probable one.
The Louisville and Nashville dividend
did not prevent the stock from being weak
all day yesterday and closing at the low
price of the day. a IA. two points of from
the high. The rate is 10 be 2 per cent
semi annually, as predicted. This is some
what less than half the earnings of the
company. according TO the semi-annual re-
port
Northern Pacif for the fourth week of /
December and for the flrst six months OF |
he fiscal year was published yesterday. |
The increase in gross for the week was /
so 600; for the month OF December, Sl33.- /
100. and for the six months since July l. /
Il $50. 300. As a counteracting influence TO
his good statement in the Pacific group |
vas The general understanding that the /
Union Pacific common VIII not receive
dividend. The meeting OF The directors
viii take place today. The reasons alleged
or the failure of the dividend are that
eayy disbursements for improvem ats are
0 be made out OF the earnings, and that
be full years dividends have not get been
aid on the preferred stock. II is said that
be April meeting Of the directors Will de-
lare the dividend. Northern Pacific com
lon declined from 80 3-S TO 81 "a. and
mon Pacific common from i6 10 II rs.
Sugar advanced to 1873 Ia in the first
our Of the day on heavy short covering,
nd many believed that it would go higher.
Ut in the afternoon il sagged off to le9,
nd the close was AT 1923 is. The news OF
ne morning was that all the sugar COM
anies had simultaneously advanced the
rice of refined sugar cents On a hundred
ounds. This seeming understanding
nong the companies was said by many
, be the forerunner of the end of the
lgar war. but the war has ended so often
ready. and Their continued in business
usual that there was much skepticism.
Brooklyn Rapid Transit was the other ,
Ioyant stock during the morning but it,
ke sugar, succumbed to the general
eakness Of the afternoon. The high
ice Of the day was IS l-2 and the close
as.
The cnalers do not respond to the good
TVS of the increase of dividend by Jer- !
y Central. They were weak yesterday. ,
eadng first preferred especially declin- !
g below 80. from 81. The low price
ached by the stock was - ia and the {
ose was al ~ IS. Jersey opened up to C
8 but there was almost no dealing in it. r
X
Dks attractive, and it will Undoubtedly
We good advance If the remainder of {
Q market is in the least favorable. The Y
mpany is earning per cent on the I
1ck, and there is a practical certainty I
per cent dividend rate. !
Big -Four declined nearly 3 per cent on ?
e declaration OF its first dividend in seven e
airs. and on the first official positive news 4
the Vanderbilt deal. Chesapeake and S
10 declined a point. TO 90 IA and New r
rk Central declined points from the a
sh price TO 1873. the close The Baltimore !.
Ohio stocks and Pennsylvania were all
ak. Pennsylvania closing at 12s IL. the
vest price of the day Further news of n
Eastern trunk line deal was meagre. II Il
2 stated by an officer of the Big Four
npany that although this system will n
a part of the general alliance. ii will j
Itinue more independent than the Chesa-
axe and Ohio. Little of it's stock has y
IN purchased by the Pennsylvania and d
ltimore and Ohio people. while they have 4,
.ured large holdings OF Chesapeake and
10 with the Nanderbilts 1t was also d
d that the l-2 per cent dividend de- n
red will be increased. probably TO 2 per
IT, at the end OF another half-year. This j.
s indicated more or less vaguely by the NJ
usal of the company people to say that :,
dividend was the semi-annual rate =,
en- they were questioned on that point
RUSSELL Sage has sold out large part
not all OF his holdings in New York Gas :,
cks. This, 1t is said. marks the capitu- \,
ion of Mr.. Sage and the removal OF the NJ
obstacle to the settlement of the gas a
r Consolidated Gas was duh yester-
i L.
Under OF the market
Washington Stock Exchange. of
ales-Columbia Fire Ins 160HI9 IL IN