The times. [volume] (Washington [D.C.]) 1897-1901, 1900-07-04

Mondays prices No news from the crop
districts seemed to account for the spur;s.
The grangers were strong all the morning
at prices above those of Mondays best,
but in the afternoon they all declined
somewhat. The hish price reached by St.
Paul was liz. Rock Island advanced 10
above 1o6 and Burlington to above 125.
Atchison went well above ~. The close
was from half to full point off from
these figures The Pacifics followed about
the same course. Missouri Pacific made a
squirt TO 81 in the morning but lost all its
gain before the close.
The advance in the price OF refined
sugars had been expected, but it was con-
sicered of Importance nevertheless. The
price of granulated with the new aGiit on
is $50 cents pound. TIE trust is row
making larger profits than at any time e.
fore in recent years. Sugar was strong
despite 4 new set of bear ssip sp ad
broadcast apparently by the p ople that ar
short of the stock. There was no. hing new
in the stories. The trust has been de.ea.-
ed they said. and has been forced to give
up a war of determination which did not
exterminate. after losing SIS O0i coo. more
or less. The old IL per cent dividend ra e
will never be paid again, and it is prob
be paid before greae.. Friends of the
company are happy TO see the stock con-
tinue strong at higher prices. and perhaps
the advance helps them to hear the bear
stories with greater for ,itude.
Brooklyn Rapid Tra-sit Continued its up
ward movement yesterday morning in
quiet way, and although il sold OIL in the
afternoon, may be said 10 have shown
much strength. The outcome OF. the trial
of Gosiir and his friends Tor conspiracy
against the company seemed 20 have good
effect Oh the rex. Goslin was senteaoei
yesterday to six months in the paniten-
tiary and a fine OF $500. Davis, the ed..or
of the Wall Street paper WITH the sha6y
reputation was sentenced TO three months
Imprisonment and fine of $3.50, as was Eu-
gene Packer. their accomplice. Dep tie
the Justice of the sentences there was
much comment In the street over the fact
that no important pc pc have been
tried. The opinion is haza:ded eve ywilele
that no such important people will be i'm
prisoned for such a cause
Nothing new regarding the anthracite
ccalcrs WAS teard yesterday. but the group
advanced TO new high leve for this move
ment, and closed near the top p. ices fer the
day. Reading frst preferred went to g. IS
Z
advance. but declined during thu a.tarnoo {.
The street is believer in this stock, with
good reason. Ii is doing the be. business
of its history, and the outlook for the COM
ing year is . fne one.
Baltimore and Ohio was one of the
strong features. One OF the men who
write about the market and v hose opinions
have come to be regarded as valuable said
is most probable On the stock in August.
This is entirely at variance with the best
information obtainable and also with the
inmate pToba bilities" of the situation, but
it had its effect on the stock, neverthe-
less. The earnings of the Baltimore and
Ohio are superb. but the common stock
should be a long way from dividend
despite this fact if the managers of the
company are as conservative as they are
believed to be.
There is a story in the street that the
American Tobacco Company will soon is
sue q statement showing 20 per cent
earned on the common stock Whether
this story is the cause or the result of
the recent good advance in the price of
the stock it IS difficult 10 determine. The
latter is the more plausible theory, though
it is known that the company is doing
an excellent business. The high price
reached yesterday was 90 and the close
was 81 I-2.
The great strength in the steel and Iron
securities on Monday was shown again
yesterday morning, though the highest
prices were not reached. In the after
noon there we're declines in the entire
group which. however, did not extend very
far Tennessee Coal and Iron went off to
SIS at the close. This stock In particular
of this group is believed by many to he
selling below its intrinsic value The earn
ings of tbs company are far in excess Of
the amount necessary to pay the regular
dividend OF per cent on both the pre-
ferred and common issues. President Bax
ter. of the T. c. l., is quoted as saying
that in his opinion the price of iron has
reached point where consumers will be-
gin to buy. He stated that his own COM
rany is working full time. principally on
old contracts. President Baxter also COM
ments on he growth of the export bust
mess done by his company and by the trade
in general!