The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-11
lating the large lines recently. Messrs
Keene and Gates. for instance. These peo-
pie will buy more on any small decline.

lating the large lines recently. Messrs.
keene and Gates. for instance. These peo-
pie will buy more on any small decline.
Manhattan was one Of the few stocks
that showed any activity yesterday AID
also ii was one of the few that showed
strength. 1t advanced at one time to
W ga. and the close was at 80, the same
price as the opening, but we'll above the
level of last week and of Monday of this
week. Brooklyn Rapid Transit was active
and rather strong in the same way as
Manhattan. probably on account of the
same kind of support. There are numer-
Gus theories to account for the strength
OF these stocks. The evident and obvious
one is that the companies are doing more
business and earning more profits and
have better prospects than ever before.
II is suggested with much positiveness
that the Manhattan Company has been
| able to earn more than its per cent
dividend during the past year and that
therefore during the coming year. with
new motive power it will be able to do
much better than this. Gross earnings
VIII be greater. Traffic will be bigger. 1t
can be handled at less expense. In the
same way it is said that the Brooklyn
Company is doing much more business
than ever before.
The other class of reasons put forward
TO explain the advance of the traction
stocks are technical entirely. 1t is said
by the friends of both that Tammany
SPECTATORS have changed front regarding
them and are now bullish. The recent
buying is attributed largely to these peo-
pie Those inclined to be skeptical re-
garding this explanation acknowledge that
Tammany has been buying the stock, but
q hfc hnc hen L.. lSv.1
get people long of it before a good big
tumble. The intrinsic reasons are good at
any rate. These reasons suggest that it will
De safe to buy the stocks on sharp recess
sions at least.
Two or three earnings statements of
| the week have been disappointing. Yester-
day the Pacific Mail report for August was
| poor one and the St Paul gross earnings
| statement for the first week of October
showed large decrease. The ST. Paul
decrease in gross earnings was s125, 900.
The Pacific Mail showed a deficit for
August, after all charges, of 1880 This
compared with surplus last year of
S106,005, and was therefore a decrease of
s119,615. The showing for four months is
a little better, but certainly not very
good. There was surplus for this period
of S69,3o9. as compared with a surplus of
own yesterday.
Two or three matters affecting the
grangers were discussed in the market yes
terday in addition to the St Paul report
There was gossip regarding the probable
character of the crop report for the month
but this report is not of as much signif-
canoe as it was earlier in the season. A
report from Iowa that the corn crop of
! that State will be the largest On record
was received with pleasure by friends of
| the group. The grangers sold off steadily,
though not in an important way. Burlings
T, ton declined to 1874 SIS despite the Iowa
| crop report, which ensures big business
for this company. Atchison too, sold frac-
tionally below 90 ST. Paul broke to
III 3-S, closing at the bottom.
The earnings Of the Wabash for the
first week of October showed an increase
of $14.S01. From July the increase was
$685., 949.
The strike no longer interests the street.
There may be a slight rally on the an
nouncement that the trouble has been ad-
justed, but even this is doubtful. OF
course, this is the narrow way of looking
at it. The professionals who are in con-
troll now have gotten all the fat out OF the
| strike that they can, and are paying no
attention to it. There can be no doubt
| that a settlement will have an ultimate
effect. 1t will probably hasten the boom
that the big people are now .accumulating
stocks for. The coalers were extremely
dull all day.
Sugar was strong during the morning
| hour. but later sold off rather badly TO
! 115 "a, at which price it closed, with
| point and more net loss. 1t is said that
the sugar business has decreased heavily
recently, bur this, of course, was 10 be ex-
pected.
The steel and iron securities all went oil
for no particular reason except professional
bearishness. Tennessee Coal and Iron was
weak. selling down TO S. SIS. and closing
at the bottom. Tin Plate was strong in
the morning hours on what seemed 10 be
1 eli h,,,.i