The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-08

| tions small for the most part. The ten
dency to recession that has been char
| asteristic for the past two weeks was
| again noticeable. though. as heretofore,
| there was no aggressive weakness except
| in one or two of the speciaities. The de-
| cline in Tennessee Coal and Iron contin-
| ued during the morning hours. but the
stock made some recovery in the after
noon. Pacific Nail went off on an Octo-
Der statement that was not considered
good. and Rubber stock tumbled. These
| movements, however, had little effect on
the general market. The railway stock
exhibited no new features, the coalers
perhaps being the strong feature. The
expectation of a furry in cali loan rates
is growing. though no one looks for any
such gymnastics as the money market eX-
hibited last year. The bank statement to-
day will be poor one, the only question
being as TO how bad a showing it will
make. The apparent loss of cash since
last Friday is $1,000 900. but it is said
that some of the interior banks have
helped New York out by withdrawing de-
pcsits and making direct loans. The OK
pectatioD has been for q very bad showing
and if IL is not so bad the market may
be helped by ii temporarily. The people
that look for further recession in prices
this month before the next large advance
are growing IL number.
The coalers during the morning hours
showed the same strength as on Thursday,
owing apparently TO the cold weather, and
the high prices of coal and perhaps also
TO 4 certain extent rejecting the gen.
eral expectation that the long deferred
coal roads deal will soon be annunced.
Later in the day these securities suc-
cumbed to the general downward tendency
81 Gov
the session. Some people are still of the
opinion that Reading first preferred will
have an advance of Two or three points
before there is a general decline OF i'm
portance in the market.
The Southern securities were not par
ticularly active, but both held their Gwn
we'll. The talk OF the deal with the Sea-
board Air Line helps the investment de-
mand for the stocks. Conservative in
vestors express the opinion that If The
Southern is to obtain virtual control Of
the entire Southern territory there viii
be another very strong reason for OK
pecting a handsome advance in its Sc
curitieS.
The statement of the Pacific Mail Com
pany for October shows a surplus of only
$4,000 after the payment to the reserve
fund. The surplus for October, 1899, was
S45,6S4. The company is not earning per
cent dividend on its stock. There was a
slump in the stock of or points yester
day. owing TO the statement, and 1t is said
that the decline may go further. The
stock, however, looks TO be good specu-
lativc purchase at its present price, in
view of the better outlook for the Subsidy
bill.
Sugar was one of the few stocks that |
did not show any decline for the day. 1t |
sold "ex'' dividend. opened at 124, and |
closed at 12i 3-S. There was nothing new |
regarding the stock in the gossip of the |
day.
Erie securities were strong. One Of the |
stories regarding the Erie was that divi-
dend is in contemplation for the preferred. |
and this was supported, or at least made |
reasonable supposition. by the fact that |
the earnings of the company are more
than per cent on this stock. Another |
story was that the buying came largely |
from the Morgan interests and signified |
the final steps in deal for new rail-
way system to include the Erie, the Wa
BASH and the Pierre Marquette.
The directors of the Denver and Rio
Grande here declared dividend OF
2 1-2 per cent on The preferred stock. This
stock has been helped by early inside
knowledge of the advance. The st. Louis
and San Francisco directors have de-
clared the regular semi-annuai dividend |
of per cent on the first preferred stock. !
There is good investment demand for !
the securities of this company based on
excellent earnings and good future pros
poets.
The other steel securities were at first
inclined to be strong. though inactive.
1t is said that the Rockefeller-Whitn
interests are working on a reorganization
plan for Steel and Wire.
Washington stock Exchange.
Substituted States coupon 3's. $4,000
a lilo is; Capital Traction As, $4,000 |
107; Washington Loan and Trust Com
pany, 5d163: Capital Traction. "12O4
1903 is; Washington Gas, 1885 Is, 250I
Sc Ia, 275a56 3-S. 1o0d56 IL: Chesapeake
and Potomac Telephone. 45GS9 Ii. goo
Go. sass Is, 50G69 3-s; Mergenthaler
Y