The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-21

features are a damaging argument against
the trusts, but they are a most convincing
showing of prosperity. The experts say
that steel rails can be made at cost OF
81 a ton more than steel billets. The rail
price made by the pool and the one that Is
being accepted by some of the largest rail-
ways is SIG ton. Billets are selling for
SIG ton and on this basis rails should not
cost the consumer more than SIT. There Is
clear gouge of So a ton here. The amount
of rails to be consumed during the COM
ing year will be anywhere from 100000
to 100000 tons, according to one Of the
leading men in the trade, Mr.. Gary. This
will mean that the steel trusts will get
anywhere from 100000 to $4,000. 900
above legitimate profits from the railways
alone next year. II the price of rails is
forced down, as it may be. to $23 ton,
there will still be profit in excess OF the
legitimate of several millions Of dollars
on the most conservative estimate.
Pacific Mail has advanced as rapidly dur
ing the week as any other stock on the
list. 1t closed week ago at 81 and yes
terday 1t got nearly to 49, Careful market
people bought the stock in considerable
blocks below 80.
The grangers and the Pacific securities
were both very strong all the week.
Much of the buying was good and espe-
cia1ly during the last two days the COM
mission houses were eager and large
purchasers. The Atchison stocks were
the features of the grangers and both
yesterday went to record prices. North
ern Pacific common was perhaps the
most noticeable member Of the Pacific
group on account of the fact that its
great strength was somewhat of sur
prise to many that had been selling it
short heavily. 1t is said that London
and Berlin are still badly short of these
groups and that they are likely to have
further advance before any decline OF
Importance. Atchison is spoken OF espe-
cially in this regard. Mr.. Sage is quoted
as saying yesterday, in referring to the
strength of Missouri Pacific, that the
company will earn more than per cent
on its stock this year.
The Vanderbilts were supposed to be
heavy buyers of all the securities with
which their names are connected. 1t is
known that their people did buy some
stocks. but perhaps the cliques operating
through Vanderbilt brokers are RESPONSE
Bile for the larger part of the boom in
this group of stocks.
The coal stocks generally have been
disappointing to the people that expected
them to have a big boom when the strike
was ended. AS far as the street is con-
cerned the strike is ended now, but
nothing important has occurred in the
group.
Peoples Gas was the only stock on the
list that was distinctly weak on Friday
and yesterday. It sold up well early in
the week on the news that the Peoples
Company has bought out the Ogden and
the war is settled. but later it went off
badly. Much of this decline undoubtedly
has been due to professional liquidation
simply and is of no particular signifi-
canoe, but 1t is probable also that there
has been some short selling and some
liquidation of long stock Of a more i'm
portant character. 1t may be we'll to re-
member in the case of this stock that
the gas war is only one of the troubles
of the company. The fight with the peo-
pie is also most important