The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-03

street is much interested in a revival of
the ruTnor that the National Steel, Tin
Plate. and other Moore properties are TO
be consolidated. The present story is that
the consolidation will depend upon the
election of President Mckinley. A concern
that would include all the Moore corpora
items would be one of the largest, If not the
most tremendous, trust in The entire list.
The earnings of the Southern Pacific for
the month of August were given out yes
tcrday. The report is not very satisfactory
and rot up TO what the street had been
looking for. The net earnings for the month
show decrease of s116,070. The net earn
ings since July | show a slight increase.
There is much bull talk regarding Southern
Pacific stock and it is believed that it will
be advanced in the near future by the
clique that has manipulated it with much
success on several occasions in the past.
The intrinsic value of the stock, based on
Its earnings. warrants putting it to price
considerably higher than it is at present.
A story with a London date line was
printed in the street yesterday to the er-
feet that the control Of the Southern Pa
ciic is to pass into the hands of syndi-
cate headed by J, P. Morgan & Co. The
story is net given any credit for the good
reason that the Huntington stock would
be necessary to make up a control and
ingtoh family.
Union Pacific. which has been very
strong during the entire recent break and
which for the past few days has been
doomed up to price virtually the high
est on record. If the lately paid dividend
is considered, was rather weak yesterday
on selling for the short account and on
the absence of buying by the people that
have been bulling 1t. The low price reach
ed yesterday and the closing was 81 IL,
about a point off from the high 1t is
thought probable that the decline may ex-
tend somewhat further. and in this event
conservative people will be good buyers.
The coal stocks were not active yester-
day, and they seemed inclined to get to
somewhat lower level on the failure of
the companies to secure an immediate ad-
justment of the strike. Jersey Central,
which on Monday sold at 1876, was at
1913 12 yesterday. Reading first preferred
fuctuated within very narrow limits, and
closed at the lowest price of the day,
81 SIS. 1t is said that in addition to the
refusal OF the miners to accept the terms
offered by the companies the independent
operators wish to get better terms from
the railways also and that this factor Is
likely to cause some trouble before the
coal situation is finally adjusted.
Sugar went off a point to III, the clos
ing price. No news regarding the trust
or the stock was heard. and it is supposed
that the decline was caused by profit TAX
ing entirely. AS far as is known the in
siders have been buyers of the stock re-
Gently.
The grangers held their own very well,
but for the most part closed the day with
fractional net losses st. Paul was the
best of the group. with a close at ia.
Atchison preferred closed at So SIS, Bur-
lington at 123 SIS and Rock Island a
point off at i05.
An authority states that the earnings
of the Brooklyn Rapid Transit for the
quarter which ended September 80 was
the best in the history of the company,
as far as both gross and net earnings
were concerned. The statement is made
that the increase over the same quarter
OF last year was equal to about l per cent
on the stock, or $4,000. 1t may be quite
probable that the recent good buying
seen in the stock has been due to advance
knowledge of these earnings. Some of
the best people in the street have advised
buying Brooklyn around so, both for in
vestment and for speculation. The fu-
ture of the company is undoubtedly very
bright and II one Will hold the stock
long enough II can hardly fail to be a fine
investment. As TO its immediate move
ment talk of an advance of TO 10 points
has been heard in apparently good quar-
tiers.