The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-29

quotation was the best for the day. so ga
There was heavy realizing in Southern Pa
cific nearly all day, and it was said that
ii was for the clique that has been push
ing the price up during the past week.
The course of the stock was downward I'M
til the last hour. and low price of Il is
was reached but recovery at the close
carried il to ~ 5-S. only small fraction
off from the close Of the night before.
fine February net earnings statement for
the southern Pacific is given in another
paragraph.
Sugar was as weak as he Pacific Sc
curities were strong. during the latter
part of the day. The opening was buoyant
enough. the price reaching ITO Ia, but
there seemed TO be an immense amount of
stock for sale. and finally the price be-
gan TO break. The close was virtually on
the bottom price for the day, 105 IA. Two
or three stories were floating in the street.
One was TO the effec. that the company
has decided to pay the usual 3 per cent
dividend on the stock hereafter. This
story was denied by President Havemeyer,
according TO one of the New York papers.
The Arbuckles have cut the price on all
grades of sugar five points, and this de-
spite the fact that the price OF raw has
just been advanced. The move caused much
comment especially as the American Com
ing to Mr. Havemeyer, will not do so. These
developments, on their face, are not such
as to inspire enthusiasm regarding the
stock, but as has happened before in Sugar.
1t may be that things are not what they
seem. Conservative people do net feel in
clined 10 go short Of the stock.
The American Tobacco Company yes;er-
day declared the usual dividend on the
raI nd CTR a
been much talk of an increase to per
cent for the common stock. but people in
touch with the management of the COM
pany here had no encouragement TO offer
in this direction at any time. The COM
mon stock was fairly active. but it re-
fused to sell off, as many had thought
would occur If the dividend rate was not
advanced.
Immense buying of Reading first pre-
ferred advanced the stock at the opening
yesterday to 65 IL, but later the realiz-
ing was heavier than the purchase, and
the price sagged off to below "a. The out
look for the Reading securities is especially
attractive The coal situation is better
than il has been for many years, and
the earnings of the company are superb.
1t is said that the first preferred is to
receive per cent dividend Immediately,
and that the second preferred also will
receive some disbursement this year. The
first preferred is still below the best level
Of last year, when no dividend had been
paid on it.
The net earnings of the Southern Pacific
for the month of February were $780,
gs4, an increase of 100000. The net
earnings for the eight months of the
fiscal year TO February 2s we're s15,565,
900, an increase of $500. 900. The net
earnings of the St. Louis and San Fran
cisco for the month increased SAG, 6lS From
July / the increase was S344 $50. The
surplus of the Big Four for the month
showed an increase of $50. 057. The
Chesapeake and Ohio net business during
February was not as large as in the pre-
viuos year for some reason. this line
furnishing the only decrease so far re-
corded. The earnings for the month
were 5000, ABS, an increase of s1,S25.
Consolidated Gas and Chicago Gas were
both buoyant yesterday. the former ad
vancing six points TO 1870. and the latter
Ave points to l04 and fraction. The
close in each case was at near the top
price for the day. II was said in exp!ana-
ton Of the boom In Consolidated Gas that
the company has secured control of the
New Amsterdam Company, but this story
was denied. A better reason for the
strength OF lne STOCK Is ID the ldct Indt
the tax assessment decisions are expected
today. The traction securities were all
buoyant also apparently for the same
reason. The bears are covering in the
group for fear that 1t will advance when
the decisions are known. Chicago Gas
was manipulated apparently. but there was
heavy covering of shorts and some good
buying in this stock also. One of the
stories of the street was that the COM
pany has really made arrangements TO
secure control Of the Ogden Company by
furnishing the money TO buy the new
stock and bonds OF the concern. There
is reason to believe that the two COM
panes are getting together if there has
been any rivalry between them al any
time, and conservative brokers with
good connections are advising the purchase
of the stock