The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-12

clines for good advance at the begin
, ming of the year. They look for the jan
u6ry market to be the best for many
months.
There were some further indications Of
the advance in money rates yesterday.
The call lean ~ a one time was at 8
per cent. There MS some calling of loans,
| and it is considered probable that this will
continue during The remai nder of the year.
The amount that must be gathered to pay
the interest and dividend charges at the
beginning OF the new year is variousiy es-
imated, but it Is probable that 1t will
be somewhere between $l75,O0O,C00 and
seSC,0 loco, or the largest sum ever paid
out ii enc time. This will be an excel
lent thing for the market after January l..
, and perhaps for a few days before that
In anticipation of it; bat it can be seen
mat II is likely to serve as good bear
argument for time yet. The bank state
ment this week is likely to be bad again
though not SO poor as that Of last week.
III II is, it will wipe out the surplus re-
Serve entirely
1t is announced that the Erie Company
mas purchased the Pennsylvania Coal
Company. This means not only that Ii
is good purchase for the Erie, but that
IL is of the utmost importance to the coal
situation in general. II seems to make
very certain harmony in the coal husi-
ness for a long time to come. The street
was very much Interested in the an
ncuncement and many surmises rs to how
much further the coal deal may extend
were made. The fact that the Reading
securities were particularly strong all
day for the first time. should show how
important the friends of this company con-
eli nt.n 1T Err 1rtn .,ly oA.
ranced to IS rs and closed at IS Is
with coed net gain. The common stock
went as high as IL L. and closed at II
S-S. Reading first preferred went as high
as &c IS, the highest price for many
months, and it closed at &C ga practical
ly the top. with a net gain Of two points
or mere. Jersey was quiet. Ontario and
Western was strong with an advance 10
&c rs, an important gain for it.
The Steel securities were all strong,
but they had lost some of the steam Of
Mondays boom. Tennessee Coal and Iron
went as high as GA at one time. Later 1t
sold off TO 62 SIS with a net gain still
showing. however. Federal Steel com
mon opened at 81 7-s, high price. snd
sold of 10 81 Ia before the close. There
was no sign OF weakness In the stock,
however. Wire common held its own.
Colorado Fuel and Iron declined fraction
ally. The excellent report of the Colora-
do Company for October, and the un0fii-
cial statement by the Tennessee Company
that its business is expanding steadily,
are two of the new bull matters regard
ing the steel and iron group. Another is
the declaration of the usual z per cent
dividends by the Wire company, on both
the commend and the preferred stocks.
The talk of the dissatisfaction with the
Gates clique management Of the Wire
company is still heard. but ii is under
stood that this group Of stock jobbers has
shown itself 10 be too strong TO be dis !
turbed by the opposition. The outlook for
the steel securities is excellent and even |
Steel and Wire is not likely to be left |
behind. II is probable that Federal Steel |
common and Tennessee Coal and Iron |
will be the leaders of the group.
The New York Stock Exchange will be |
closed on Monday, December "a, giving the !
brokers and their friends double holiday. |
The local exchange will also be closed on |
that day, it is understood, although il has /
not been formally decided at yet. The |
local exchange will be closed today.
The regular dividend of per cent for |
the quarter was declared by the Mergen-
thaler directors yesterday, being 21-2 |
per cent regular" and 2l-e per cent !
extra" as heretofore. The books will be |
closed on December Is and the dividend |
viii be paid on December %.
The net earnings of the Baltimore and
Ohio Railway. including the Baltimore and
Ohio Southwestern, show an increase of
were both quiet yesterday, showing little
net movement for the day.
The Pacific securities generally We're
among the strongest on the railway list
yesterday. Southern Pacific advanced &c
AZ and closed al the top on what was said
to be exceptionally good buying. Missouri
Pacific at one time advanced to 81 Is and
the close was at so 3-S. Northern and
Union Pacific were both strong.
The Executive Committee of the West
ern Union Company yesterday recon-
mended the usual quarterly dividend of
ia per cent, which is equivalent TO the
declaration OF the dividend. The stock
opened al SO and sold off TO So IS.
The gross earnings of the ST. Paul for !
the first week Of December showed a de-
crease of So 600. Despite the continuance
of the decrease in gross earnings by lis
one company the outlook for the grangers
is so fine that they are advanced on the
slightest sign of strength in the general
and closed at the top yesterday. Burlng-
ton went TO 136 3-S and also closed at the
top Rock Island closed at 115, the top
price for the day. Atchison preferred went
TO S! is and closed at 81.
General Electric stock yesterday made a
new high record price, 112. II closed al
la 1-2. The declaration Of the per cent
extra dividend has revived the talk of i'm
mense earnings of the company.
There some show OF strength in
Copper. which sold at one
lime as high as 90 IL. The SNOWY trip Of
Mr.. Lawson from Boston to New York the
other day. at record-breaiing time, on a
special train. 10 attend a meeting of the
Copper people. seems TO have had good
effect on the stock.
Washington Stock Exchange.
Sales-Colurnba r. r.: &500G120 LIZ; !
Washington Loan and Trust Company: 10
dldl "a 1s5: Capital Traction: s20I
100 IS. 20H1o3 IS 290dl04: Washington
Ias: 2JSl57 "a. 25m57 SIS. 5OG57 IS, 1854
81 -: c. and F. Telephone: lM11; Mer-
yenihaler Linotype: 10M192 1-2 10M
ae IS. l5G1e2 rs 5t193. 10M19: Is;
t.anston Monctype: 5d147-S. 2d15. 3d
41-2. 1m15I L. After call-Wsshington
m "a 1