The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-24

rantable eagernesS FOR war news and I'M
portant people holding aloof well for
this or some other reason
Real news that might reasonably be sup
posed TO affect the price of American rail
way and industrial securities is all of an
excellent character Money was again easy
yesterday at 1-2 and per cent for call
loans. and the subtreasury again reported
balance in favor of the New York banks
There seems to be no question that the
bank statement will again be a fine one,
and that money rates will continue easy
if indeed them do not get below ? per
cent. Several earnings statements yester-
day were fine. that OF Tennessee Coal and
Iron for the month of December being
particularly worthy of notice. The bear
suggestions that railway earnings would
decrease in January has been thoroughly
exploded. The steel and iron companies
are now beginning 10 work on their high
est price contracts. and their profits for
the next six months at least will be
much larger than those of the past year.
The traction securities we're the most
interesting securities on the list yesterday.
During the morning hours they were all
strong with advances ranging as high as
two points more, but during the after
noon they were among the weakest
est price for several days. and then de-
clined 10 l65 Ia. II closed at 165 rs.
Brooklyn advanced nearly TO a. and then
lost all OF its gain and n point or more
beside getting nearly to 20. The same
general course was taken by Third Avenue
and Manhattan, Gossip regarding these
issues is plentiful. and its general tenor
Is more hopeful than otherwise recently.
The Standard Oil people are buying Third
4. sNa1
Vanderbilts are also purchasers OF the
group nearly every day The Brooklyn
meeting will take place on Friday, and
there seems TO be little doubt that it will
disclose new interests to be in control,
even though Mr.. Mills and DR.. Webb are
not made directors Mr.. Hartman is still
spoken of probability.
The December report OF the Tennessee
Coal and Iron Company shows net surplus
after charges. 1856. 900. an increase OF S22s-
531. The net figures are the best ever
made by the company. but there is every
reason to believe that the coming months
will be even much better. as the company
is now beginning TO work on contracts at
the highest prices. and has contracts OF
this kind extending over nearly the en-
tire year. The increase in surplus for the
year was somewhat over 1000, 600. the to-
hood OF $1,000 600. or 10 per cent on the
common stock The surplus in recent
months however. has been far in excess
of this rate. The stock quiet all day,
but held its own better than the general
list. closing at 81 1-2. Colorado Fuel and
Iron declined more than point to Il 81.
Federal Steel common went off to 80 at
the close. and Steel and Wire common
closed at &c "a. the lowest price of the
day. 1t is said that the Federal Steel
common is to receive another dividend of
1-2 per cent next month.
The coalers have been very dull, but
there is noticeable fair support in them
on bear attacks. Sentiment is again more
cheerful regarding the group. The advance |
in prices at tidewater should have good |
effect on the stocks.
Sugar and Tobacco were both weak yes !
terday afternoon. apparently as the result I
entirely of short selling. Sugar declined 4
TO l15 "a and closed at lis. the high l
price Of the day having been lis ID. To- /
bscco after advancing to above i0l de-
clined nearly three points TO 9s IL and 4
closed within an eighth of the bottom.
There was no news of any kind regard
ing either of the stocks.
The grangers were weak all day and |
at the close had lost large part of the
recent small gains. Rock Island closed at
LOG. st Paul at III l-2, Burlington at i2l |
Ia. and Atchison preferred al 60 1-2. Sem
timent regarding this group is decidedly
more optimistic this week than hereto
fore, and 1t is not believed that the de-
cline viii extend further in them. unless
the entire market has tumble on ac-
count of bad news from South Africa. The
fprr in, ,if,yg by {
all the companies over the magnificent
business OF last January is so significant
Of great prosperity and of the -futility Of
the bear arguments regarding the group.
that there is sure 10 be good investment
buying on every decline. And speculative
buying also will be important in any mar
ket in the least encouraging TO outsiders.
1t has been natieeable that the Flower
securities nave beer more active than the
general list during the past few days. The
Flowers have been buyers OF some Of the
group. and their following quite rightly
elieve that there Is still in the group the |
merit which made Governor Flower friend
~ to hem year and more ago. Brooklyn !
and Rock Islanfs have been mentioned as
relatively strong heretofore in this column.
and the bullish gossip regarding Chicago |
Gas has been alluded 10. Attention may
/
ties in this connection. These stocks have
lost a large part Of their friends in the
that has taken place in them,
Tut people close 90 the management of the
may be quoted now as most op-
tlmistic regarding the business Of the con-
Germ and both the preferred and common
stocks II is said that the common stock
is sure 10 have fine advance in time, and
probably in the near future as the result cf
the big surplus piling up for it. As 10 the
charge that The company is a trust. con-
trolling the paper output, officers OF the
state that il owns only thirty-two
plants out OF a total of hundreds in the
country. e
Leather common has been tipped off" as
a good thing for several days A squirt like
that recently TO forty or better was pre-
iicied by insiders" and il was said that
the Standard OIL people were almost ready
TO announce their control OF the company
by electing their directors at the coming
meeting Yesterday the stock sagged back
to below sixteen, despite this ardent boom
ing, and all the tinside support was with
drawn, if there has been any such re-
Gently.
The Vanderbilts were dull and weak
yesterday. New York Central got to 1873
and closed on the bottom. Big Four went
TO GO 1-2 and Chesapeake and Ohio TO
% H. both the lowest and closing prices
for the day The Union Pacific securities
were also weak. closing on the bottom
after relatively important declines. All of