The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-02

! week, they make peculiarly satisfac-
/ tory showing in comparison with the bear
! predictions regarding The group so fire.
] quent two months ago. They are certain
] TO cause covering Of short contracts. Bur
! lngtons gross earnings for the month
/ were S3.510.242 an increase Of 1916, 79O.
| The net earnings for the month were
] $l233SS an increase Of S247 sos. st.
/ Faul's net increase for the month was ap
! proximately $4,000 not very large, but
compared with a decrease in net for De-
/ cember. most satisfactory The company
( continues its policy 81 heavy expenditures
! for hettermeuts charged to operating ac-
( count u is figured out from the state
/ ment Of the Atchison for the first seven
months Of the year that something like
| per cent is being earned on the common
stock. The grangers all reached new high
prices for the week yesterday. but did not
hold all their gain. Rock Island advanced
to los IL, and closed at lO7 IS. st. Paul
got as high as 1913 - and closed a point
below that figure. Burlington after get
I ting as high as l24 "a. declined to 1913 IA
at the close. Atchison was the most buoy
ant Of the group, advancing 10 &c and clos
ing only fractionally below that level
The January statement Of the southern
Pacific was given out. II shows net earn
crease Of SsS.519. Southern Pacific stock
was inactive yesterday. and made a small
net loss for the day The same may be
said Of all the Pacific securities.
Third Avenue with all the fractions, was
held fairly steady yesterday morning. but
during the last hour there was a violent
bear attack which carried it to the low
est price vet reaohed-a fraction below 50.
The break occurred simultaneously with a
rumor that the stock will be assessed $50
a share in the reorganization OF the COM
pany. The syndicate that has been work
ing to finance the system without the help
Of a receiver has dropped out entirely and
viii make no further effort. Sentiment is
aggressively bearish in all quarters re-
garding the stock. and IL is not made any
less so by hints that there will be a search
ing investigation Of the company's affairs
for evidences Of criminality. The other
fractions declined during the afternoon,
but lost only part Of the gains made by
them on the previous day. Metropolitan
closed at lie Manhattan at 90 "a, and
Brooklyn Rapid Transit at &C,
Several reasons were assigned for the de-
clines IN the steel stocks. Any Or all of
them may have been the cause or quite
possibly the bears may have attacked the
group on general principles and put out
the rumors simply TO help them. One story
was thai there is growing up a serious dis !
content among the workmen Of the compa-
mics in the West There is not much real |
foundation for this Another rumor credits /
the Industrial Commission with the inten- /
tion TO make a very disagreeable report on /
the companies. The third suggestion fioated /
was that the big consolidation of the Ma /
tional Steel group is not to be made. as 4
reported a few days ago. II is not known /
exactly why his report should have a bad /
effect on the stocks Of the three companies. /
however. Steel and Wire common sold |
of two points 10 st. Federal Steel COM
mon sold of to 81 l-2, and closed only a
fraction above that price. Tennessee Coal
and Iron declined more than two points.
Sugar sagged of again to 1O3 and closed
II l04 and a fraction. with net loss OF
nearly three points for the day. One OF
the news agencies makes the estimate that
the trust is earning only per cent on
the preferred stock and. nothing on the
common stock at the present time. II was
one OF the stories in the street yesterday
with this estimate as a basis. that there
will be no common dividend, and a cut in
the preferred TO per cent or less. Another
version of this idea is hat the trust has
decided permanently to cut its dividends TO
q much lower plane for the good effect
that this would have in discouraging COM
petition and disarming the trust hunters
II is said by the imaginative gentleman
that ventures this theory that the company
will cut prices TO a point where profits
are very small and will continue them at
this level.