The times. [volume] (Washington [D.C.]) 1897-1901, 1900-05-10

ach or bowels they will remove it and the
resultant effects are, good digestion. good
health. and a clear, bright complexion.
have forced many small holders OF securi-
ties TO sell out at loss stocks which are
irtrinsically worth much more than their
present prices. They have given harvest
to the short sellers. or at least to the
early shorts. But all these things have
caused very little actual important selling
of securities. And they have not chang
the value of securities in the least. There
is the most positive assurance from reli-
able sources that the Standard Oil peop-e
and many other important interests were
buyers of stocks yesterday, as they have
been at times for several months past.
The news yesterday, aside from that of
the fluctuations of prices, was for the
most part unimportant. Money continues
easy, both call and time loans being made
ut the lowest rates. The banks show
good net gain from the Sub-Treasury so
far this week. There has also been
heavy movement of currency from the in
terror. The two items make good bank
statement likely. despite the gold to be
sent out en- ioday's steamer TO Paris and
the possibility of further shipments on
Saturday. II is now estimated that the
amount to go out today will not be much
If any larger than last weeks shipment.
There have been many bull movements
and many slumps in Wall Street since
there was such narrow and weak market
as this has been. with money SO easy and
the outlook for continued cheap money so
good. A number of additional earnings
statements were received during the day,
LIT rl,z
bought American securities.
There was again much talk of a settle
nlent of the sugar war yesterday, and the
continued strength of the stock under the
present adverse conditions made many
converts to the theory that something in
the way of deal is developing Sugars
strength in tine last half hour did much
toward giving the entire market a more
hopeful look. The stock sold on Tuesday
around 10s Yesterday morning ii opened
up TO 40, and after getting off fractionally
began to advance and continued fairly
strong all day. Shortly before the close
il was bought heavily, and apparently for
important interests, around 112, and run
quickly up to ia, near which price it
closed.
The annual statement OF the American
Tobacco Company was made public. 1t
makes good showing. though perhaps not
so rosy one as some of the friends of
the company had expected. The net earn
ings for the year. after all charges and
expenses were paid, were 81 ,202, 1888, COM
pared with 81 .957, SOB in the previous year.
The surplus. after the payment of the
preferred dividend. was S3.S90, 240, as COM
pared with 50. 1888; the surplus. after
1T r.
dend. was sl.0l7.740. as compared with
s2.123,673. The stock was weak all the
morning, getting as low as IS 1-2, but to-
ward the close of the day it rallied to
100 "a, the closing price.
The Wisconsin Central gross earnings
for the first week of May show an in
crease of s6,607. From July / the gross
earnings have increased sis1 .S05. The
gross earnings Of the Illinois Central for
April showed an increase of $40 SIS. and
for the fiscal year to date an increase of
s3.626.244
The steel securities were among the
strongest in the market. At the opening
they were. advanced. especially Federal
Steel common. while the remainder of the
market was opening off from a fraction 10
point or more. Later they held their
own and good net gains were shown for
the day. Federal Steel opened a; as and
closed at SO. The preferred opened at
&C "a and closed at 81 IA. American Steel
and Wire opened at 81 and closed at 81 "a.
The preferred made an equal gain. Ten,
nessee Coal and Iron advanced two points
from the opening price. closing at rs IS,
the highest figure for the day. Colorado
Fuel and Iron opened al Sc SIS and closed
at IS 12. also the highest price of the
session. There was little news regarding
the steel companies. but II was said that
there was fairly good investment and pool
buying In addition TO the heavy covering
by the shorts There can be little doubt
as to the wisdom of purchases in these
securities al their present prices. One of
the stories circulated yesterday was that
Mr. Gates Is TO resign after all but little
attention was paid TO 1t. Wire was the
weakest of the group all day, and IL will
be much better for the public IL it con-
tinues the weakest on account of lack OF
public buying.
Baltimore and Ohio common stock va.
again yesterday morning the weakest
stock in the market. II sold off TO "A.
Later in the day ii showed better strength
on what seemed to be a renewal of buying
by the pool II is said that the Speyer
people have not sold any stock and that
they began to buy at the low price yes
terday and Immediately turned the tide
in its favor Whatever may occur in the
stock later II is likely 10 have good ra!iy
in the immediate future II the general
market shows any strength as il has
been sold short very heavily and always
rallies smartly. There are other securities
on the list that are more attractive even
now as an investment.
Pacific Mail opened weak and sold as low
as 80 Is. the March statement of the
company not being considered good one
Later. with the general market II rallied
to 81.
The grangers went off at the opening,
but were strong later in the day and In
the last half hour had a good rally oh
covering by the shorts and some commits
sion and investment buying. The SANE
may be said OF the Pacific securities and
OF the Vanderbilt Cassatt group generally
New York Central sold as low as 100 but
rallied to 131 ID Pennsylvania reached
the same low price and rallied TO 1870 "a
The street is perhaps more bullsh regard
ing this latter group and the grangers
than any other. Immense earnings, the
bright outlook for big future business. the
great consolidation plans, regarding the
eastern railways especially all have made