The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-28

year. The top price reached was 50 and
the close was az that figure. a net gain of
five points for the day The statement was
made in The street as coming from an eX-
cellsnt authority that the stock is TO be
placed on a per cent dividend basis i'm
mediatcly. The earnings Of the company
continue immense and its earnings on the
stock are certainly larger than the earn
ings Of any other per cent stock on the
list. As matter OF fact the company
might very reasonably put this stock on
1 per cent basis and pay a good dividend
to the second preferred as well. Ontario
and Western I:.sa:.'= a.4Hi.sl s.- 'AelaT
ware and Hudson were all advanced III
sympathy with Reading. but not in very
important way. 1t seems quite possible
that they may be taken up today. The
outlook for the anthracite coal railways
and for their securities is better than it
has been for many years past.
The earnings statements of the day were
all good. The net earnings statements for
February have begun TO come in and as
predicted heretofore they are fully up TO
recent hne records and in some cases even
better. The Atchison February -tatement
shows an increase Of sos 600 in gross and
an increase OF $4,000 in net. The gross
earnings were about 81. 100000 and the
net nearly 81 go 600. The Northern Pacific
statement shows net earnings S913.S36, an
increase of S2l3. 400 The Northern Pacific
statement of gross earnings for the third
week Of March shows S617.32S. an increase
Of SIS .00G. The gross earnings since July
! were So $50. SO. an increase of $2,l5!. l3l.
The Southern Railway gross earnings for
the third week chnw increase of Ntg.Utti
OF total of more than 30 railways that
have reported gross earnings for the third
week of March there has been a showing
of nearly II per cent increase over the same
week last year. II was said by an insider
of the St Paul yesterday that the monthly
net statement of that company will be a
fine one.
One of the statements heard in the
street was that st. Paul is likely to have
a good advance in the immediate future.
1t was said that an important financial In
stitution was heavy purchaser of the
stock yesterday. St. Paul has been rela-
lively slower than the others OF the
granger group during the past week or
more. and seems entitled to an advance.
though it is in reality selling higher than
either Rock Island or Burlington, in COM
parson with the dividend paid. Rock ISL
and is still a fs vorite with many careful
buyers. ana "a: advance to around 120 is
looked for by them early in this move
ment. 1t had only small gain yesterday
but closed AT the highest price for the
movement. III. Burlington got 10 1870 S-S,
and closed at 1919 IS. St. Paul went as
high as 124 SIS. and closed at 12i Is. The
Atchison securities were both well sup
ported but like the balance of the group,
made no net gains. The common advanced
to % II and closed al % IS. and the pre-
ferred. after getting as high as II Ia,
closed at Il Is. Ii seems quite likely
that the good February statement of the
company will induce out OF town buying
this morning.
Baltimore and Ohio common again sold
above the preferred stock yesterday, and
this time it continued above, closing Ia
better. There was what looked like good
selling of the preferred stock at times,
and it declined from So, at the opening, TO
81 at the close. On the other hand, while
the common was not buoyant it advanced
from 81 at the opening to 81 IA at the
close. Nothing new regarding the stocks
Of the company was heard in the street.
Sugar the stock which has been the one !
hope of the bear contingent dur f,
ing all the advance of the past two weeks !
(although it has shown no weakness), |
yesterday began to advance. During the /
early part OF the day the predictions of
a bad drop in the stock were as frequent 1
and positive as usual, but they had no eff /
feet in stemming the current. The ad |
vance was to 109 Ia and the close was |
at l09 with a net gain for the day of |
nearly three points
Federal Steel common advanced from 50 |
at the opening to 81 3S and closed at "a. I
American Steel and Vie common advanced
from 90 SIS to IS Is. and closed at 81 5-S. I
Colorado Fuel and Iron advanced to 81 IA /
and closed at 30 IL. Tennessee Coal and /
Iron, on the other hand. opened at 3d. adj
vanced to %. ami then declined to "a at :
the close. showing a net loss for the day
Of 81 An increase of activity was con-
spicuous in the group, and the prediction
IS made that important advances will he
made during the present upward move
nent. According to earnings and dividends
paid. the prizes of all OF these stocks are
lar TOO low compared with other securi
ties on the list The fear OF co!lapses in
these new .oncerns has been based on sup
posed conditions which however. do not
appear to exist. It is found that immense
earnings are being made, sufficient to pay
dividends on both preferred and common
itocks ard in most cases to leave surplus Is
equal TO all dividend disbursements. The
outlook is that the records for this year
and next will be quite as good as those Of
last year il not better. AT some tire in
The future IL is possible that div .dends will
not be paid on the common stocks of these
but the same may be said with
equal truth OF many OF the railway sacuri-
les which are selling at prices much
higher. And the street is not in the habit
# looking ahead quite as far as this.
The Pacific securities were again features
If the list. Southern Pacific went as high
Is 80, and closed az ~ 81, with net ga II
# 1-2 Northern Pacific went as high as
8 SIS. and closed at IS IA. with net gain
VI Ia Union Pacific was quieter and
made only d fractional gain, and Missouri
Pacific made a loss for the day. II is said
n quarters usually well informed that both
he Northern Pacific common and the
Union Pacific common are to be put on a
per cent dividend basis in the near fu-
ure. Northern Pacific was especially
yesterday, on account of the fine
of gross and net earnings put
,ut by the company.
The Chicago pool which was prominent
/ week ago in bulling Western "ailroad
stocks, yesterday sold stocks by the whole
sale. This same pool also let go consider
able amounts OF industrials. These offer
ngs we're readily absorbed and prominent
Wall Street brokers predict that the Chi