The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-02

vance in the market this week CAN rates
for money, according TO the Financial
Chronicle we're very easy, from 10 4 -
per cent. with the average al about 3 L.
Banks and trust companies in New York
have loaned quite generally during the
week at 3 per cent. some however. obtain
ing 1-2 per cent Time contracts are
I freely offered but the demand is only fair
/ the majority of borrowers being inclined to
, wait for still lower rates Quotations are
per cent Tor sixty 10 ninety days. and
and IL per cent for four to six months
On good mixed stock exchange collateral.
Makers Of commercial paper are not press
ing their offerings and consequently the
supply Of notes is only moderate. At the
same time the demand is good and on the
whole improving. buyers being DESTROYS of
securing paper at current rates. which are
! 1-2d5 per cent for sixty 10 ninety day
endorsed bills receivable 4 3-4d5 - per
cent for prime. and 1-2d6 - per cent
for good four TO six months single names
This week starts with all he talent bull
iSh on the steel shares. john W Gates
and his crowd are TO be in New York for
some time. and they are expected 20 pro-
duce sensational upward movements in the
stock of that group. Gates az the moment
seems 10 be regarded as "a big bull argU-
all unlikely that the market may see his
firm Chicago hand in steel and Wire and the
other steel stocks from now on. There has
been quiet buying of the shares Of late by
brokers' heretofore close 10 Gates Jacob
Field among hem. who have not been dis
turhed by The Chicago liquidation in the
group
Belief prevails iu the financial district
that the pcstponemcnt until April 10 OF
the hearing in the Third Avenue case by
the Standing Master. A. II. Masten. was
brough, about by an understanding that
the majority owners the Metropolitan
street Railway Company. might be able 10
submit plan for financing the road with
out resCrtiEE 10 receivers certificates.
What form the plan 10 rehsbiitate the road
viii take cannot be ascertaiued but it is
known that Nj Whitney and Mr. Vree-
land together with some Of he PhiladCl-
phia capitalists in the syndicate. among
them p. a. B. Nidener. have been en-
gagged in looking into the affairs Of the
company. with a view OF determining the
course TO pursue iu dealing with the huge
debt.
That he problem presents many diff
cuties is generally admitted. and the en-
tire financial district is curious 10 see what
form the plan Will assume The general
sentiment apparently favors the issuance
of consolidated and coIlGteTal trust boad
Of the Third Avenue Company guaranteed
by the Metropolitan. A further issue OF
Third Avenue stock at present seems 10 be
out Of The question and 30 is
doubtful If any Third Avenue bond without
the Metropolitan guarantee could be sold
The Reading Coal and Iron Company will
today make formal announcement Of its
opening spring price for anthracite coal
free on board at $3.50 per ton for stove
and chestnut. aud other sizes in proportion
The other large companies are expected 20
make "a similar price The actual selling
price of stove and chestnut last year aver
aged 1888 per ton. The soft coal lines
adopt a now coal rate schedule with the
beginning of this month which will mean
q handsome Increase in profits TO them
Iennnsylvania and Norfolk and Western
viii be especially benefited. The coming
week j. likely to See a good advance in the !
prices OF The coal securities.
The Chronicle computes the eros
earnings Of = roads for the second week |
OF March. 1900. at $g.oSS 202 an increase /
Of Ss's.&'2. OF lLS6 per cent. 65 roads for |
the third week of March al s. Ga5.321. an /
increase of SN1a-7g or 1c.i1 per cent.
Although INSIDE interests are irving hard |
To Keep Wall Street in the belief raat there
is >illl war between The Peoples and the /
ogden Gar Companies they are getl ny /
less and less attention with esch point /
gained by Peoples Gas stock. The in !
-lter- are themselves heavy buyers. and
hieasc interests have also taken round /