The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-29

| There has been excitement of some kind
| in ii every day. and on some days OF
| several kinds The net result Of the week
| is an advance of twelve points or more
| by the stock, and the revivification of the
| recently moribund story of the settlement
| of the Sugar war On every day that
| there has been an advance of the stock
| the bears have promised in the morning
| that the long expected break was TO APP
pear. Yesterday morning one of the news
| bureaus that takes peoples money N ex-
| change for value received in information
made the following interesting statement,
not as an expression of reasonable belief,
and not as the opinion of some one else,
| but as a fact, pure and simple:
New York. April 2S.-The Chicago
clique of professional traders will renew
their attacks upon the market at the
opening, and will endeavor 10 break Sugar
below 10. This stock is a good sale Tor
a quick turn"
Sugar was not a sale for "a quick turn"
II opened at the lowest price of the day
and advanced rapidly more than four
points. The close showed four points net
gain for the day. This news bureau never
made worse guess in all its career.
There is an immense short interest in the
stock, and the insiders have showed every
evidence of being willing TO squeeze the
shorts this week. Further advances next
A number of March statements of earn
ings were published yesterday. The week
thus contributed much information as to
the present railway net earnings several
of the most important companies having
reported since last Sunday. With one
exception all of these statements have
been excellent. The most interesting fig
ures yesterday were those of the Southern
al no ar,,fn u ,
show an increase of $3.50 The net earn
ings from July to March 81 show an in
crease of SSS5.233. 1t will be seen that the
net earnings are increasing at the rate of
81, 10000 and it is considered probable
that this figure will be Appropriated for
the entire year. This sum is equal to
about per cent on the preferred stock.
The net increase of the Burlington for the
month was $50. 600 The Northern Pacific
net earnings for the month were 1925
249 an increase of $224,572 The figures of
the Northern Pacific are the best of the
group, but-all of them are entirely salts
factory indications of expanding business
and larger profits.
With reference to the Northern Pacific
statement, II may be mentioned that
President Mellen is authority for the posi-
tive statement that his company is ne
gotiating for the purchase Of the St Paul
and Duluth Railway. The line is 244 miles
long and VIII be an exceptionally valuable
feeder for the Northern Pacific The
Pacific securities have been comparatively
quiet during the past week but they have
held their own and there have been the
best of evidences of important inside buy
ing in several of the group. Missouri
Pacific, it is known, has been purchased
heavily by Standard Oil interests. Mr.. |
Sage made the statement a day or two ago |
that such purchases were being made |
There is much talk of a deal in the
Southwestern group of railways and 1t |
is probable that there is some foundation |
for the rumors. The outlook for all Of the !
Southwestern securities is excellent and |
many careful spectators are purchasing
them on the recessions from day to day.
The steel securities. after making fair |
net gains until yesterday. were attacked |
again rather viciously by the bears at the !
opening yesterday morning and declined
more or less nearly all day American Steel
and Wire common was the weakest of the |
group, selling again well below 40 and clos |
ing practically at the lowest figure for the
day The story on which the bears based |
their attack was to the effect that the !
Carnegie Company will erect a wire and
rod plant to compete with the American |
Steel and Wire Company. There was no |
foundation for the rumor and |
If there had been there was no reason in
it for the weakness of Tennessee Coal and |
Iron, for instance, which sold off 21-2 |
points and closed at the bottom, S11- |
The short interest in these securities is
quite as large as that in Sugar When |
Mr.. Gates resigns the covering of these
shorts is likely to be an interesting exhibi-
ton, if it does not occur before that time
Notice has just been sent out of the regu-
lar quarterly dividend of 2 per cent to
be paid on the preferred stock of the
American Graphophone Company, on May
lS, TO stockholders of record May l.