The times., 1901-03-14

of a weakening of the tone Of the mar
I ket StiH, we cannot but think 1t is
J time to take profits. Traders who prefer
! 10 take the bear side are watching II
| clcs-iy. aud the short interest is not
large enough - ne an Important sustain am
I iug influence w a HeaTHS, OF Lewis
! johnson & Co, believes that TIE GGvane-
! in prices is not yet over. but would not
! be surprised at some reaction at this time.
! L. u. Fowler said last night. u believe
/ that the time to take the snort SIDE OF
/ this market for considerable turn is
| very near The present level is con-
StaUt temptation to investors to sell out,
and there are few if any investors on the
; other hand that wish To buy. The mar
kCt is sustained by the insiders in order
| that they may liqIidatc the more readi-
! ly. The short interest is small
The Erangers were among the most in
terestiug stocks ON the list Burlington
made new high price record, l52 81.
ana II held its own with remarkable per-
Sistency all day, closing with much less
than the usual recession from the top.
| The talk of deal with the Great North
ern and the Northern Pacific is persisted
IN, despite official denials. A reaction in
/ the stock is likely at any time never
| theleSs. The AtChiSOnS were doomed up
sharply for the first time I'm more than a
! week. both making new high price rec
ords. The common stock got to 5S IL
ana the preferred to % 3-S. The new
story regarding this system is that the
Pennsylvania is buying its stock actively
IN order TO secure a voice in its directory
II is even said that one of the chief uses
to which the new SlOO, 100000 of the Penn
SylVauia Company is TO he put is the
J acquisition of AtChiSou stock. Another
reason for the strength Of Atchison com
mon is the probability of q dividend this
spring.
St. Paul was the only laggard in the
granger group. 1t failed TO advance at
any time. and finally, near the close. went
of 10 the lowest price of the day, 149 -
/ The reason for this weakness undoubted-
/ ly is the fear held by many that there
viii be no Increase in the dividend rate
at the meeting Of the directors today. If
there is no increase il is pretty safe to
predict that there viii be a recession in
4 the market and especially in the granger
group
The Southwestern securities generally
We're active yesterday, but they did not
advance so uniformly as on recent days.
There was sharp decline in the st.
Louis and San Francisco securities which
carried away the larger part OF their
gains for this week. On the other hand
Missouri Pacific was strong, and Missouri.
/ Kansas and Texas had a sharp squirt
after being neglected for two or three
days. The street hears very positive as
sertionS in good quarters that there is to
! he general merger of these systems in
( the near future. one story is that the
/ Missouri Paciric viii acquire by lease all
]
! the other Gould properties Another is
/ that the Standard Oil people are closely
/ allied with The deal. If not the real NOV
/ ers in IT, Very probably there is some
| foundation Tor the story.
The American Tobacco Company yes
terday presented its annual statement
The figures are excellent There is an
increase in the surplus OF 100000, al
though some of the companies now un-
der the mana cement of the trust do not
. T lr- Van
many people are bulllSh regarding the
outlook for this stock is the prospect tnat
there viii be a large saving through the
new schedule of the War Revenue blll,
There is also much talk of large profits
TO be made by the company in the manu-
facture of cigars which in the future VIII
be one of its chief industries. The stock
/ advanced to new high level Yesterday
morning. l23 IL. bat failed TO hold its
gain and closed at - u.
Western Union was active Yesterday
and advanced 20 the highest price made
by it recently. 50 Is. il closed at s. 5-S,
with a good net gain. It Is said that the
company has practically settled its dlf-
ferences with the Chicago Board of
Trade. II this is true the stock Will prob
ably have a boom. as the grain business
Of the company from the Chicago market
was very heavy and profitable.
American Cotton oil is having a nice
little recovery from its recent low level.
II sou d. HlSil d - - Nt1tt4A"H anu
closed at the top.
The coalers were Inclined to weakness.
lt is apparent that the holders OF these
securities do not all credit the stories
that the possibility OF strike in the an
thraCite mines has been eliminated.
Sugar was one of the weak features of
the market getting at one time as low
as 1sg and closing At only l59 3-S. 1t Is
said that Mr.. lawson the yachtsman-
broker is soon 10 launch q bear circular
on the stock II this is done there are
many careful market people that viii
consider il time 10 buy Sugar.
Tire New York Traction securities We're
al strong yesterday morning. making
new high prices for the present move
ment Brooklyn Rapid Transit got as
high as S93-t. Later IN the day there
was a recession in the group Consoli-
dated Gas also showed strength with an
advance TO 21l 81 and a close at 209 "a a
good net gain for the day. Tips are
ont that the latter stock viii go to 250
but II IS. of course possible that they
may fall somewhat short of fulfllment