The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-15

| NOtiHs lTuSt on Inc STOCK SHOWS t1el
| this is real condition of prosperity fully
| appreciated by the management. The COM
mon stock Is now considered to be on 4
per cent basis permanently, and with the
| excellent earnings behind II is thought by
| some excellent people to be too low in
price compared with other parts of the
list. Whether mis- is so or not there was
well-defined rumor yesterday that it was
| TO be advanced TO lcve! with Union Pa
citio common. The stock sold Eek" dividend
| 1 pei cent yesterday. and advanced, minus
the dividend. to "a L.. equal to 65 10
with the dividend on. From this price it
receded to 6S 1-2 at the close, still showing
a good net gain for the day. Another story
which influenced the common stock and the
preferred as well was to the effect that
| the preferred is to be retired. The pre-
| ferred advanced from 16 ga to 20, and
closed at as IL.
The Pacific securities generally were in
| teresting yesterday. southern Pacific and
Pacific Mail were more or less closely
watched because of the confirmation of the
story that the railway has secured control
of the steamship company. Some people
were inclined TO think that the issuance
of n large block of bonds by the Southern
Pacific to pay for the Mail stock and for
other purposes would not be a particularly
good thing for Southern Pacific. The bond
| issue, however. is unimportant in size when
compared with the immense amount of
stock. and il is not probable that ii will
delay the payment of the dividend a day.
At any rate, it is not likely that the in
siders will care TO allow the stock to sag
in price until the bonds are successfully
fioated. Southern advanced to AZ at one
time, but closed at Al is. The opening price,
Manhattan was one of the features of
The day, with big squirt to 10 3-S when
the statement of the company was issued.
II sagged back to los S-4 before the close,
but still showed a good net gain for the
day. The statement was particularly graf
flying. In addition TO this. the talk OF
Metropolitan buying for control is heard,
and the other version of this story that the
Manhattan will be leased and per cent
dividend guaranteed. Metropolitan bulged
up TO 169, hut later sold off TO 167 Ia.
Brooklyn was comparatively inactive and
closed the day with little net change.
The coalers of both groups were partIc-
ulariy strong and some of them even bois-
terously so. Some of the professionals
looked on this activity with distrust on &C
count Of the well-known tendency of these
stocks 10 begin an advance when all the
remainder Of the market is on the verge
OF a decline. 1t has been noted that Read
ing first preferred and Jersey Central are
often taken up on the last day Of general
boom. In this case pessimsm seems I'M
warranted There Is the best of reason why
these stocks should be strong in the general
ccal trade situation, and in addition there
are especial reasons for strength In Jersey.
Information which seems conclusive is to
the effect that the Pennsylvania people
have secured control of Jersey and intend
to pay an extra dividend on the stock. 1t
bulged yesterday from 1S9 at the opening
to 143. and closed at 1i2, with the largest
net gain Of the day.
Pennsylvania advanced to 142 and
closed at III S-4. Baltimore and Ohio
common advanced to so ga and closed at |
than usually active, and got to a new |
high price for this movement, % So. |
where 1t closed. Reading first preferred |
went as high as SO ga and closed at So.
The steel and iron securities did not |
act so we'll as their friends had hoped, !
and 1t seems probable that they may be |
allowed to rest for little il the upward |
movement begins again today. They did /
not lose any ground the result of the /
days trading, but there was not the |
eagerness to buy them that would have /
pleased the bulls on the group.
The grangers generally held their own,
and the Atchisons both made good net |
gains. which carried them up to within I
speaking distance OF the high prices |
reached. The preferred closed at II 1-2,
and the common at 35 "a. the low prices /
Of the day having been about point low
er in each case. The regular dividend
WAS declared on Burlington yesterday.
The stock was not heavily traded in.