The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-29

! was reached but a recovery at the close
/ carr led it TO 4 5-S only small fraction
/ of from the close Of the night before. A
fine February net earnings statement for
| the southern Pacific is given in another
paragraph
Sugar was AS weak as :he Pacific Sc
I curiiies were strong during the latter
/ part OF ne day. The opening was buoyant
| enough the price reaching 10 IA. but
/ there seemed to be an immense amount Of
stock for sale and finally the price be-
! gan 10 break. The close was virtually on
/ the b0;t0m price for the day. 105 IA. Two
| or three stories were floating in the street.
/ One was to the effect that the company
/ has decided to pay The usual 3 per cent
/ dividend on the stock hereafter. This
story was denied by President Havemeyer,
according 10 one Of the New York papers.
/ The ArbuckIes have cut the price on all
grades OF sugar five points and this de-
spite the fact that the price Of raw has
just been advanced. The move caused much
comment. especially as the American Com
pany has not yet met the cut. and accord
ing to Mr Havemeyer will not do So These
developments, on their face are not such
as 20 inspire enthusiasm regarding the
stock. but as has happened before in Sugar.
81 may be that things are not what they
seem. Conservative people do net feel in
clined TO go short Of the stock.
The American Tobacco Company yes;er-
day declared the usual dividend on the
preferred and common stocks. There has
been much talk Of an increase to 8 per
cent for the common stock. but people in
touch with the management Of the COM
psny here had no encouragement to offer
in this direction at any time. The COM
mon stock was fairly active. but ii re-
fused 20 sell of, as many had thought
would occur II the dividend rate was not
advanced
Immense buying of Reading first pre-
ferred advanced the stock at the opening
yesterday to 65 IL, but later the realiz-
ing was heavier than the purchase, and
the price sagged of 10 below "a. The out
look for the Reading securities is especially
attractive. The coal situation is better
than il has been for many years, and
the earnings Of the company are superb.
II is said that the first preferred is TO
receive per cent dividend Immediately,
and that the second preferred also will
receive some disbursement this year. The
first preferred is still below the best level
Of last year, when no dividend had been
paid on 1t.
The net earnings OF the Southern Pacific
for the month OF February were $1.355.-
2s4, an increase OF 500. 900. The net
earnings for the eight months of the
fiscal year 70 February rs were SIS, 565,-
O0O. an increase OF S2,SOs0OO. The net
earnings of the St Louis and San Fran
cisco for the month increased sac, 61s. From
July / the increase was S344, $50. The
surplus Of the Big -Four for the month
showed an increase OF $50 051. The
Chesapeake and Ohio net business during
February was not as large as in the pre-
viuos year for some reason. this line
furnishing the only decrease so far re-
corded The earnings for the month
were $500 4S5, an increase Of S1,S25.
Consolidated Gas and Chicago Gas we're
both buoyant yesterday. the former ad-
vancing six points 10 1870 and the latter
Ave points 10 l04 and a fraction. The
close in each case was at near the top
price for the day. II was said in exp,ana-
lion Of the boom ia Consolidated Gas that
he company has secured control of the
New Amsterdam Company, but this story
was denied. a better reason for the
strength OF the stock Is in the fact that
today. The traction securities were all
buoysnt also apparently for the same
reason. The bears are covering in the
group for fear that II will advance when
the decisions are known. Chicago Gas
was manipulated apparently. but there was
heavy covering Of shorts and some good
buying in this stock also. One of the
stories Of the street was that the COM
pauy has really made arrangements to
secure control Of the Ogden Company by
furnishing the money 10 buy the new
stock and bonds OF the concern. There
is reason 10 believe that the two COM
panies are getting together if there has
been any rivalry between them at any
time and conservative brokers with
good connections are advising the purchase
OF the stock.
4 dividend VIII be declared on Minneap-
oils and ST Louis common in June. it is
said The company is earning at the rate
Of q per cent on the stock Il has not been
decided as yet what rate will be paid.
The graugers all made small net gains
except Achison preferred. which advanced
rapidly during the afternoon 10 % Ia and
closed al q with a gain OF a point. The
street is particularly bullish regarding the
Atchison securities on account OF earnings
but IL is not 10 be doubted that the higher
priced members Of the group will advance
also in any bull market Rock Island went
as high as ia S-4. and closed at ia -.
Burlington went 10 l31 IS and closed at
l3l IS with net gain Of ] IL. st Paul
dragged somewhat
The gossip at the Capitol is that the
Subsidy bill has an excellent chance Of
passage Pacific Nail has been very slow
Of late and the price has seemed inclined
10 sag or II this is simply for the purpose
Of allowing friends Of the bill to buy the
stock al the best price OF the year not
much further decline is necessary.
The advance made by the steel and iron
securities on Tuesday was fairly well held
YESTERDAY but no new gains were recorded /
Washington stock Exchange.
Sales-Capital Traction Rights, $3.50
IS Capital Traction. goa 100 49," City
and Suburban Railroad 5OG35: Mergen-
thsler Linotype 10d 1922 3al92 l-2;"
Iarstou Monofvpe 4O0Hl3 Is S0OGl3: /