The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-02

/ vance in the market this week CAN rates
/ for money. according to the Financial
I Chronicle" were very easy, from 10 IL
per cent, with the average at about IL.
, Banks and trust companies in New York
have loaned quite generally during the
week at per cent, some. however. obtain
ing 1-2 per cent. Time contracts are
freely offered. but the demand is only fair,
the majority of borrowers being inclined TO
wait for still lower rates. Quotations are
I per cent Cor sixty 10 ninety days, and
I and IL per cent for four TO six months
On good mixed stock exchange collateral.
Makers Of commercial paper are not press
ing their offerings. and consequently the
supply of notes is only moderate. At the
same time the demand is good and on the
whole improving buyers being DESTROYS of
securing paper at current rates. which are
1 l2d5 per cent for sixty 10 ninety-day
endorsed bills receivable 3-4dj l-2 per
cent for prime and ) 1-2d6 II per cent
for good four to six months single names
This week starts with all he talent bull
ish on the steel shares. john w. Gates
and his crowd are TO be in New York for
some time. and they are expected 70 pro-
duce sensational upward movements IN the
stock of that group. Gates at the moment
seems to be regarded as a big bull argu-
ment. And matter of fact, it is not at
all unlikely that the market may see his
firm Chicago hand in Steel and Wire and the
other steel stocks from now on. Thers has
been quiet buying of the shares of late by
brokers heretofore close to Gates Jacob
Field among them. who have not been dis
turbed by the Chicago liquidation in the
group.
Belief prevails in the financial district
that the pcstponement until April 10 of
- he. II I'D
the Standing Master. A. H. Masten. was
brought about by an understanding that
the majority owners the Metropolitan
Street Railway Company, might be able TO
submit a plan for financing the road with
out resortiEg to receivers certificates.
What form the plan 10 rehabilitate the road
will take cannot be ascertained. but it is
known that Mr. Whitney and Mr. Yree-
land. together with some Of the Phi'adel-
phia capitalists in the syndicate among
them p. a. b. Widener have bee, en-
gagged in looking into the affairs of the
company, with view of determining the
course to pursue in dealing with the huge
del t.
That the problem presents many diff
culties is generally admitted. and the en-
tire financial district is curious TO see what
form the plan will assume. The general
sentiment apparently favors the issuance
of a consolidated and cola eral trust bond
of the Third Avenue Company guaranteed
by the metropolitan. \ further Issue OF
Third Avenue stock at present seems 10 be
out Of the question and II is
doubtful if any Third Avenue bond without
the Metropolitan guarantee could be sold
The Reading Coal and Iron Company will |
today make formal announcement Of its |
opening spring price for anthracite coal |
free on board az $3.50 per ton for stove |
and chestnut. and other sizes in proportion |
The other large companies are expected 10 |
make a similar price. The actual selling !
price of stove and chestnut last year aver |
aged 1888 per ton. The soft coal lines |
adopt a new coal rate schedule with the |
beginning of this month which will mean |
a handsome Increase in profits TO them |
pennsylvania and Norfolk and Western |
Will be especially benefited. The coming |
week is likely to see a good advance in the /
prices OF the coal securities
The Chronicle" computes the gros, |
earnings of - roads for the second week
of March 1900. at 9.OSS, 202 an increase
of ss5s.372, or li.S6 per cent: SO roads for
The third week of March al IS. Gg5. 800. an
increase Of SSie.579. or 1C.i1 per cent.
Although INSIDE interests are trying hard
10 keep Wall Street in the belief mat there
is siili war between the Peoples and the
ogden Gar Companies. they are yeti .ng
less and less attention with each point
gained by Peoples Gas stock The in
slders are themselves heavy buyers. and |
: hlcasC interests have also taken round |