The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-22

10 become important on its own account
During The latter part OF the day com
paratively little attention was given 10
the skyrocket Of the market The high
price reached by it was 1l2. making the
total recovery since the low price was
reached Two or three weeks ago g. points
The immense advance Of Third Avenue TO
z4a. the subsequent decline in less than a
year 20 +5 and this squirt in so short a
time to - points above par is up 10 the
present in the history Of the stock eX-
change the record for pyrotechnics. The
bears who SO persis,en1y sold what hey
did no, have a few days ago We're as com
pleieiy routed on Tuesday and yesterday
as they ever were before. Immense sume
Of money have been lost on the stock both
in JUS decline and in It's advance. II Is
said hat many comparatively wealthy
men have been ruined. Some spe-ula-
tors We're even so unfortunate as 10 be
long Of 20 on its downward course and
TO swing TO he short side near the bottom.
There is no particular reason TO suppose
thar the stock will 90 higher at this time
but on the other hand many do not believe
thar there will be any disposition 10 70
short Of IL while the plans Of the Metropcl-
itan people are in embryo. The names
of Whitney and Ryan have come to be
considered potent in Wall Street, and for
good reason There can be little doubt
that Third Avenue has gone to the people
that can rehabilitate il 10 the best ad-
vantage They have surplus power and
they have learned the secret Of running
street railways satisfactorily at low
cost The stock after touching the high
price declined five or six points yester-
day Manhattan advanced to IS SIS and
closed az - with good net gain for the
day. Metropolitan after advancing TO
1-0 "a from 1GS lost all OF its gain before
The close. Brooklyn was strong above 20
all day reaching as high as IS IL.
There seems TO be no doubt now that
the Metropolitan people are negotiating
for the control OF the Manhattan Railw5y
u is said that Mr. Russell Sage has named
bis price for his holdings OF the stock.
Mr. Keene is understood to have taken
he bull side OF Pennsylvania. He is quoted
as being enthusiastic in his predictions
that 10 will sell at a much higher price In
the near future.
Union Pacific and Baltimore and Ohio
common were the features Of the railway
list Both sold higher than ever before
in their histories Union Pacific at SO "a
and Baltimore and Ohio at "A IL. The
buying in the latter stock was of the
same kind as has been seen for several
days past. 1t is supposed to be specu-
lstive entirely. but its persistence is hay-
ing he effect Of drawing attention anew
10 the remarkable earnings OF the COM
psny A price above 20 and almost equal
to that Of Northern Pacific preferred to
many seems absurd for a stock that has
never paid a dividend. On the other hand
10 is certain that the company could pay
per cent. II such a rate is contemplated
as is limited in some quarters. there is
every reason why the common stock
should cross the preferred, which is only
entitled 10 a per cent rate. The out
siders do not know what the intention of
the company u.s. however. and TO them |
such a price as the present level must be /
a rankly speculative one
Union Pacific common advanced 10 SO "a I
and closed AT the top notch, with a net I
gain for the day of more than 2 points. /
Chicago houses were said to be the chief /
buyers The statement was made by 1
people usually we'll informed that the 1
stock may be considered a steady 9 per /
'ent dividend security. It is earning 4
somewhat more than q per cent. For sew |
,ral weeks careful critics Of the market I
lave been advising its purchase. North
m Pacific advanced to 50 81 and closed /
ID - - ID Is said TO be highly probable
hat the other stock will soon cross it,
although Northern Pacific, too. is consid-
red an excellent investment al It's pres
mt price. Southern Pacific was also one
IF the features Of the day. Ii advanced |
% 40 IA and closed al 40 Is It was said
hat the bull pool which put the stock TO |
4 not long ago Is again at work on it.
The granger securities all held their
,wn well and closed at the highest prices
4 the day, although no important ad-
'ances -. made in the group Burling-
on wenf~ IL IS and closed at that fig
ire. St. Paul went TO 124 pa. closing at
he top. Rock Island advanced TO 10 II
It the close. Ajchison preferred closed
Il 60 3-S. the high price Of the day having
,een So I-2. The common Atchison went
o q 3-S and closed at "a Il. The buy
ng in these stocks is called especially
GOD
The steel and iron securities again
bowed some strength after several days
quiet. Federal Steel common ad-
.snced 10 = l-2 and closed at 50 Is, and
american Steel and Wire common ad-
-anced TO So Il and closed at Sc Is.
Coal and Iron, on the other
and, was a trihe weak closing for the
ay al "a with a net loss The entire
teel group is considered to be a good
peculative purchase al Its present level
n account Of the immense increase IN !
teel and iron exports and the statements
ecently made by prominent iron men
hat prices are almost certain to continue |
Il TOP notch during the present year if
ven they do not advance
u Is said that the full dividends are
,eing earned on both the first and second
referred stocks Of Wheeling and Lake
erie.
An increase in the dividend rate on
american Tobacco stock IS now again
,romised with much confidence though
10 official announcement Of the intention
O mako the advance ia the rate had been
eard
The New York Central directors yes
erday met and declared the regular div
iend OF Ia per cent for the quarter
esterday In the morning hours there
BRAIN FOOD