The times. [volume] (Washington [D.C.]) 1897-1901, 1900-07-06

virtual control. The actual ascertainable
facts In the situation are that the Yam
| derbilts, the Morgan people. and the First
National Bank people were heavy buyers
of the stocks as they have been for some
days past. The advance of these secur-
| ties, and especially of Jersey Central, has
| been more rapid and steady than any
movement seen in the stock market for
! long time.
Sugar was advanced to III SIS. and t
| also closed near the top price for the day.
The story advanced by the street gosSips
regarding the trust and its stock was that
there is to be another advance in the price
of refined sugar next Monday or Tuesday.
The suggestion of the buyers of the stock
was that the trust is earning more money
tnan at ANY time heretofore in recent
years, and would now be abundantly abe
to pay IL per cent on the common stock if
1t should wish to. 1t is not in the least
improbable that Sugar may be given SEN
sational advance of several points at any
time TO help the general market along.
The earnings of the Norfolk ard West
ern for the last week of June are said 10
the company will have balance for the
common stock. after paying the preferred
stock dividend for the year. of 81. 30O, eco.
This would be equal to little batter than
per cent on the common.
Federal Steel started an advance In the
steel and iron securities. which was
promptly taken up by the entire GROUP.
This stock went to 81. and closed at the
33 rs. Colorado Fuel and Iron went to
30 SIS. Tennessee Coal and Iron got as
high as 60 IL and closed Mt 69 Ia In this
group, as in all the others, there IVES good
buying in addition 20 the short covering,
and it seemed that suddenly everybody had
realized the very low prices at which they
are selling. II may be predicted with very
little danger that if the general market is
to have an upward movement the iron and
steel securities will be among the best on |
the list. The export business of these new
and old companies has been ex client dur !
ing the past month two. and it is said !
to be very nearly certain that it will con-
tinue to increase.
Baltimore and Ohio common was strong |
getting as high as "a SIS and closing at "a !
The earnings of this company during the /
year Jus, ended have been phenomenal. |
The statement Of net earnings will be a |
showing TO be considered long time By |
anyone that doubts the prosperity of the |
company. ]. ]. Hill is said to have PEE
dicted a day or two ago that the commc n
stock will sell above New York Central te-
fore many years have passed. But there is
nothing in this to make a good reason for
buying the stock at its present level. There
is no dividend in sight now. and 1t would
seem extremely probable that there will be
none this year.
The st. Paul gross earnings statement
for the last week of June and Of the fiscal
year showed a decrease of $4,000 The
gross earnings for the year WILL of course,
show an immense increase. There was
some disappointment over the decrease.
as II did the decrease in net
earnings for May. but II had little effect
on the stock market, or on the action OF
St. Paul stock itself for the matter of that.
The grapgers were all buoysnt in harmony
with a further decline in the price of
wheat to below so. St. Paul advanced to
112 and closed at the ton price Rock
1eS 3-s. Burlington advanced to 125 SIS
and closed at 125 L. Atchison got as high
as Il IS and closed there.
The earnings Of the Missouri Pacific for
the last week of the month and the fisca!
year showed an increase of $4,000. The
increase for the entire year is a fine one.
Missouri Pacific stock was strong all day
and closed at the top. with a big net gain.
The high price reached was 80 IA. and
the close was at SO 1-2. the opening hav-
ing been a; 80 12. The other Pacific Sc
curities were all strong.
American Cotton Oil had a squirt TO IS.
and closed with good net gain for the
day at 81 1-2 Il is said in quarters that
should be well informed regarding the af-
fairs of the company that the per cent
will be declared this year without fail, and
even possibly 3 per cent rate, as the