The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-08

| alton. Any just weighing Of the factors
working for and against an advance In
the price of securities cannot but decide
that the bull news is the more important
| The immediate market is in doubt. There
can be no doubt that an upward movemen,
| is to be inaugurated before many months
have passed.
The New York Central for the month CT
| May showed an increase CT 1927 1857 in gro 6
earnings. The increase for the first eleven
months of the fiscal year was So POI 900.
| The Central earnings this year have been
| quite as remarkable as these of the Penn
! sylvania and of the Atchison IN point Of
percentage of increase. and this is saying
| that they are one of the wonders of railway
history. Central stock was quiet yesterday,
with nothing to show that the street mad
received the earnings report.
| The advance in Jersey Central was sharp
during the first half hour yesterday, ard
| during the entire day its showing was a
good one. Reading first preferred also eX-
hibited much strength at times The street
heard again the story of the leasing Of Jer-
sey Central by the Baltimore and Ohio.
| and there was a new rumor to the effect
| that this line and the Reading are to be
| consolidated. 1t is known to be the fact
| that the anthracite coal lines are to be
| brought under one control, If this has not
| already been accomplished. 1t matters lit
| tie how this is done, perhaps
Sugar was fairly strong at the orening,
selling up to 116. Later 1t declined some
what, but always showing good support.
During the last hour 1t rallied again to
lis rs, closing the day with a net gain.
The street is bullish regarding the stock.
The grangers all made good gains at the
opening. Burlington went up point TO
129 in the first few quotations, and st. Paul
went to 116 Ia shortly after. The Atchis5n
securities both showed some advance.
There was some reaction later in the Cay,
but the close showed small net gains in
most cases. There are no sellers Of these
securities. and the bears become frightened
in them very easily. The only item of in
terest regarding the grangers circulated
yesterday was untrue. 1t was said that the
Atchison company will issue 100000 of
bonds during the coming year. to secure
funds for Improvements. This step, it was
suggested, is made necessary by the small
expenditures made out OF earnings, in Or
der that fine net earnings showing might
be published. AS matter of fact 1t is
officially stated that no more than 81 000,-
600 bonds will be issued for all purposes,
including the retirement of old bonds, the
purchasing or construction Of branches and
extensions and the improving of equip NJ Mt
and line.
Missouri Pacific was rather weak carly
in the day, and there was again the advice
by the bears to sell it for much lower
prices. II recovered part of the loss before
the close. The Missouri Pacific gross earn
ings statement was good. and there is 10
reason TO believe that the stock will go
much II any lower. The other Pacific Sc
curities were very dull.
There was tip yesterday to buy Smell
tiers. 1t IVES said that 1t came from both
Morgan and Moore & Schley sources. and
that it had its inspiration in knowledge Ct
some contemplated move by the Standard
Oil people.
The steel securities were deadly dull all
day. with fluctuations within the narrow
est limits. Federal Steel common made
high record of 80 IS and low of 80 1-2.
Stoel and Wire was high at 81 81 and low
at "a. There is no news regarding the
companies, but some Of the iron papers and
experts talk of the necessity for lower
prices before any revival of business can
be expected. The outlook for the trade is
not for big inflated BOOM but IT is GER
tainly very good for large business at
prices which will permit of handsome
profits to the companies. The present
prices Of these securities are undoubtedly
too low, and the buyers now will, in the
opinion OF many careful market people, be
eble TO sell at much better prices.
Chicago Gas was strong. with a net adj
vance of point OF so. The close was only