The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-27

Morgan during the las: few days. and this,
too. had its effect on the nerve of the short
contingent. TIE news of the day was gen
orally good. Aside from the Chinese de-
spa;ches there were 4 rum0er of excellent
railway earnings st2ieal MS. the announce
meut CT the regular dividends on some oil
the Vanderbilt secrri.,ez ~! ether stocks,
the tumble in the price of whcd,. and
number Of minor matters. The general
opinion is that the advance in prices may
extend somewhat further. but it cannot be
said that many are hopeful of any per-
n1anent Improvement at this time. AT
mast. the average professional says a rally
cuTirG the pTessr: week is all that should
be looked for. However. it is certain that
many c.-tfCl people are buying securities
outright and en- long margins for invest
mfat = the present prices. The level is
not likely to be much. IL any, lower, and
it vii. certainly get much higher during
the coming few months.
The earnings statements we're the m t
important news of the day. probably Ven
more important than that of tle tn. HE N
the price of wheat. The ST. Paul a=ail
showed a large increase in oss er:i gs
for the third week of J-ne. Atciiisr:i E:c,c
magnificent report of net earui.'t:s for
May, one of the best, in fact OF liz fl e
gross earnings for the week were S,92, Gi3
an increase of $50, soc. Tbs inc aSe 8
especially gratifying in view Of thn l. ct
that the increase last year n the sime
week was nearly $4,000. Sach :ho~.Ie
goes far in refu:irE the pre- lie! cn of ms
psssirlists that the railway busin' s; the
country is shrinking rapidis. the AT HI
son statement for May shows crease IN
gross earnings of s5e2, 704; Increase IN let
earnings. S4s2 4sS and increase in incsne
after all taxes and rentals. Siis42a. TIE
Atchison company is earning 5stween
Sc Gee coo and 81 eco eco mere tti.; year an
4. did last. Il is earning far more than
enough for the full per cent divid nd.
The prospect that the dividend Gail be kept
up is OF the best. 1t is not TO be wondered
that the stock has been comparatively
strong during the recent decline in the geI-
cral market. and that it made a goad show
ing yesterday The holdSrs 90 the stock do
not care to sell it at its pressed, p zee. and
there is good buying at all times. Fr.dic-
lions of so for it in the near future are
heard in good quarters.
The grangers generally were strong yes
terday during the greater part Gf the day.
s. Paul was perhaps less well supnoI tel
than the other members Of the group.
Burlington and Rock Island We're 5oug1t
because of the realization that these two
systems are not dependent to any extent
on Tie spring wheat crop. Atch' vas
taken by people who found lie May earn
ings statement attractive. There IS no Il a
son for p .simism regarding tne 81. Paul 1t
its present price, however.
A big boom in Brooklyn Rapid Transit
took place in the afternoon. The stock
had been strong all the morning without
,,l, I'D sla
last hour the shorts apparently became
frightened over the outlook. The stock
sold as high as 81, which represents al
advance of points or more from the low
of Monday morning The close was at
So is, with good net gain. Nothing new
in the Brooklyn situation was heard, but
the rumor was still current that the
Metropolitan people are trying to secure
the control of the stock, or have secured
it. This possibility made the shorts re-
member the squeeze they got when the
Third Avenue deal went through.
The regular dividend of IA per cent
was declared on New York Central yester-
day. The regular dividend of "a per
cent was also declared by the Vanderbilt
people on Lake Shore. Gossip regarding
an increase of IA per cent in the quarter
ly dividend of each OF these companies has
been heard from time to time recently,
but it was not credited in conservative
circles and the failure of the increases to
materalize did not have any bad effect on
Central.
Announced and contemplated cuts in
steel and iron prices made the Steel and
Wire and Federal Steel securities weak all
day yesterday. though they did not close
at the lowest figures There was much
disappointment at their failure to adj
vance with the remainder of the market
Fedearl Steel preferred sold Eek divi-
lend of 1-2 per cent and opened off three
POINTS or more. The larger part of the
'oss WAS not regained during the day.
Washington stock Exchange.