The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-10

one.
Some of the steel shares are dangerous.
steel and Wire. although worth more
mercy than il is selling for. is treach-
erous affair that spectators will do well
to leave alone. Federal Steel is much
safer proposition Colorado Fuel and Iron
is also good In the case of Colorado Fuel
there is warrant for great buiiishness. In
the first four months Of its fiscal year the
| company has earned SS3o.0G0 over and
above all the money required to pay its
fixed charges. taxes, and preferred stock
dividends for the whole year. Surely moth
ing better could be asked for by the most
exacting stockholier.
The mos; remarkable decline for the
mast week in the stock market has been in
Tennessee Coal and Iron. which dropped
II POINTS from y Ia to - Ii. closing at
IS. bringing the quotation down TO about
thr level which prevailed before the cleo
lion. The weakness of this stock is the
mere remarkable because the steel issues
generally have been quite strong; in fact.
they have constituted about the firmest
, spot in the market. On October last the
stock touched it's lowest price for the
year 80. having declined from 10i, which
il attained in February. The present
weakness is due to q belief that in Febru-
airy next there will be a reduction In the
dividend. Dividends at the rate of s
per cent per annum are now payable in
quarterly ;nstaliments. Before beginning
the payment of dividends on the common
stock last spring the company paid As per
cent back dividends which had accumu-
lated on the 81 goo. 600 of preferred stock.
The common stock, par 100 now amounts
TO 500 800. and the bonded debt. draw
a nfa
Over 500. 200 of bonds mature within three
years, and these will undoubtedly be re-
tired or else extended OF exchanged for
bonds bearing lower rate of interest.
The opening of Congress was followed
by steps for the prompt consideration of
the shipping bill, and the effect of this
was to advance Pacific Mail from around
i3 to 4S. but the gain was not well held.
To Offset the favorable influence was a
report that the Panama Railroad Com
pany would not renew Its contract with
the Pacific Mali Company. but would treat
all steamship companies alike in dispos-
ing of its traffic. No other stock was par
ticularly affected by the reconvening of
the National Legislature at Washington.
unless a slight decline in Southern Pa
cific may be ascribed TO the President
recommendation about an isthmian canal.
A petition was circulated on the stock
exchange on Saturday for signatures ask
ing the governors TO close the exchange
on Monday. December "a the day before
Christmas. This would give the members
holiday of three days 1t is expected
that the governors will act favorably on
the petition.
Northern Pacific's earnings for the last
week in November decreased Si472 max
ing total loss for the month OF s42. ess
as compared with the same time last year.
There is much uncertainty over the
Rubber preferred stock dividend The
impression is quite general that the COM
pany's earnings have been poorer than ex-
pec;ed, and that a reduction in the price
OF its goods is forced by competition.
Directors of the American Mailing Com
pany have organized by electing Charles
A. Stadlcr president. Charles W. Goodyear
and Charles a. Purcell vice presidents.
Lewis L. Standton treasurer. George +.
Neidlinger secretary. and Henry c. Egger-
king assistant secretary; J. p Ord and
Seymour Scott, formerly secretary and
treasurer respectively, resigned The
question of reducing the capital stock on
the lines recommended by the committee