The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-10-23

western Union t9 "a !'.s i B92
There was a halt in the upward move
ment OF prices this morning, II II IS TO
prove nothing MOI serious. The opening
was at { concessio. IRON the closing level
CT last night, and he first hOUr witnessed
general decline CT from q small fraction
TO a point or mere. The public buying
continued, but there were SO many orders
TO close cut for the small p:Cflls recently
obtained that they ChlLweIgEed the busI-
Less Of the bulls. The general EXPECTATION
had been that the market would see
reaction today, but nest people had look
ed Tor a bUOyeut opening. The market
leaders may have opened business with
the recession to prevent these people
from liQuidatinS as much as possible 1t
was q very evident fact that this Ii
quotation, although large, was not rs
great Is would have been The case II tie
opening had been up point OF TWO in
stead Of Of Some OF the mCst careful
operators do not look for any important
IealUiCn at this time. They say that poll
tics has Ecen the inception OF the present
boom, and that 1t would be very Ioor
politics TO allow 4 tumble TO occur now
two weeks before the election IheSe e.
pie advise the purchase of stocks on~the
reactions The total CT business on the
Exchange yesterday was over 100000
shares. 1t seemed probable that mis-
would not be equaIed today. Yesterday
was the largest session since April IL
Cali money this morning was leaned at
Der cent. No fear CT . higher rate than
6 per cent is feared and il not believed
that even this will be maintained for
long. The gold receipts so far have been
nearly s., eco, coo and The shipments to the
interior have been small. The bank
statement this week probably viii show
an increase OF reserve.
The granger securities generally were
fairly strong, though at prices not equal
to the best of yesterday. The Atchesons
are the best OF the group st. Paul sold
down TO lI6 and Rock Island down TO lG9-
The buying OF the Atchison securities
continues on a large scale. II is prob
able that the character OF the buying OF
these stocks is Of a better average thaf-
acter than that OF any others en- the list.
The best commission houses in the Street
are advising their customers 10 invest IN
the preferred, especially, and the predIc-
tIons that it will sell at par before re
end of another year are many 5 lie con
serYat!Ve people expect to see it re".ch
81 on this movement The company is
earning mere money over the > per eeat
preferred dividend than any company can
show, either actually or prep -r-ionally.
1t COulQ SHOW i uGCTGdSB C1 SlU,' tDsUtu,
more CT less, in gross earnings ard still
pay its full dividend on the stock. The
present earnings are equal TO more than
per cent en- the common. These secu-
rites went of with the remand Cf thu
market this morning. but net badly. The
preferred sold at Il, point down from
the high CT yesterday.
Pacific Mail was the only stock on the
list that showed an advance during the
morning hours 1t sold at II early in the
day the highest price for many months.
The New York traction securities went
off badly during the first hour bat showed
good buying nevertheless. The bulls in
the group are still confident. The story
that the Metropolitan people are trying TO
get control of the entire group is persisted
in by people who have been right frequent
" in the past.
The Federal Steel Company is doing a
big business especially in rails. Its con-
tracts at the new $26 ton rate have been
heavy. The buying Of the stock at present
is for inside interests without doubt and
this is significant Higher prices are 70
be looked for in the near future. The
Colorado Fuel and Iron outlook is good.
TfcTs was talk today OF a dividend for the
stock IN the near future and from the
statements OF the company 1t is evident
that a dividend could be paid safely.
The Car and Foundry Company has
made an excellent statement of the first
four months of its fiscal year. The stock is
buoyant
The Tennessee Coal and Iron earnings for
nine months have been only 81 COS, 539
while the dividend requirement on the
common stock for year is 81, S24, 1913. It
will be seen that the company must earn
in the next three months TO make up the
full dividend in the year about 1920, 00o
This is better than has been done in the
past three months. but it is to be expected