The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-30

week VIII De RoOu one. n HllllloH uUi-
lars or more has been received from the
| Pacific Coast.
The steel and iron securities were the
| features of the market. Steel and Wire
common advanced nearly Ill day, closed
at the top at &c ga and slowed a gain of
} points from the low price of Tuesday.
| Federal Steel was not far behind. Ten
| nessee Coal and Iron iaade net gain, and
was evidently in demand. The semi-offi-
| cial statement of the SteIl and Wire Com
pany was to the effect TT At during the six
months ended with June 30 there was
earned in excess of 5000 00 net. This.
I ii viii be seen. is sufficient to pay the
entire yearly dividend of ! per cent Gu
both the common and the preferred stocks.
II has been stated in this column on very
good authority several times recently that
this company and others of the new trusts
have been making good profits even during
the worst of the past half year. when prices
were being cut and business was very duh
This statement bears all this out in very
pleasing way. There are good profits III
the steel and iron business at the present
time. and the chance is large that present
prices will be improved during the coming
two months. Demand for goods is also
increasing, and likely to be active later.
If the Steel and Wire Company can earn
its dividends twice over when tie entire
trade is complaining of stagnation in bust
ness it is hardly worth while saying that
the present prices of the common and pre-
ferred stocks OF the company are too low.
Good gains are to be looked for in these
securities and in several others of tho
group. Some of the people of most impor-
lance in the financial world are quietly in
vesting in them.
Sugar was again strong and one of the
most active securities on the list. 1t az
vanced to 120 and better. and closed with
good. though unimportant, net gain for
the day Brooklyn RAPID Transit followed
about the same course as Sugar, though
it lost some of its gain. Nothing new was
developed regarding either of these sscu
rites but the street heard again the stories
that the Sugar Trust and its alleged rivals
are likely to advance the price of refined
sugar during the coming day or two. This
had the effect of causing covering OF the
short contracts, as it has generally been
predicted that the next change in the price
would be decline, owing to the end OF the
busy season. The sugar season is lasting
longer than was expected.
TIE July statement of the St Paul
shows that the company's net earnings
for the month increased s21,OoO. This is
an agreeable surprise. as the recent stare
ments OF the company have all showed de-
creases in net, though generally increases
in gross The bears Will find it hard TO
get any consolation out of this statement.
1t is entirely at variance with all that
they have been predicting. The SUPPOSE
ton is that the lower prices for many
materials used in construction and re-
pairs and in operation have allowed oil a
greater portion of the gross being con-
verted into net earnings. This statement,
% he oh
regarding the grangers more hopeful again
yesterday and prices advanced, though
not in an important way. Atchisun pre-
ferred went to 20 "a and closed at that
price. Burlington advanced a point.
ST. Louis Southwestern advanced again,
selling At the highest price Of the recent
movement, and thus higher than at any
time in several months. There was manip-
ulation of the stock. but also some In
yestment Suying. Talk of the per cent
dividend for the stock was again heard,
but no better foundation for the gossip
was divulsed than heretofore.
The annual statement OF the Wa bash
shows that tho surplus after all fixed
charges for the year increased se2, 1852.
Tips that the stock is to be advanced were
heard.
Reading first preferred and Jersey Cen
trail were rather weak, owing to the talk
OF trouble with the anthracite coal miners.
Nothing serious is expected from the
mining situation. however. and 1t il very
certain that these companies and all the
others OF the coalers will do G coed busi-
ness in the coming year as they have in
the past The entire coal situation is in
better shape now than ever before. in re-
cent years. The harmony among the COM
panies. assured by the close alliance of
the Vanderbilt-Cassatt-M Morgan interests,
the increasing demands for coal in this
country and the coal famine in Great
Britain and Europe all promise a fine