The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-01

Fries, and the price of the preferred was
| advanced sharply four or FIVE points TO
| 63, a new high price record. The common
| also doomed up two or three points. At
| least one important house in this city
| was advised of the upward movement
| early in the day. 1t is said very posi-
| lively that the community of ownership
| deal is being carried out in a big way
| by people interested in st. Paul, Northern
| Pacific, and Erie.
| The other coal securities were nearly
| all buoyant, and the net movements of
| these stocks were the most satisfactory
| of the day. as their reactions at the close
were unimportant. Reading first preferred
| advanced to II rs and closed at II. Della
| ware and Hudson advanced to 1874 IA and
| closed at 1873. Ontario and Western ad-
| vanced point to 1872 Ia, but lost its gain
later in the day. The coal situation is
| worthy of more consideration than most
market people are giving it. The harmony
| in the trade is more perfect than ever
| before and at the same time there is the
| greatest demand for coal that the coal
| people have ever witnessed. With the
happy combination of high prices and
immense demand it q. is certain that
| the coming months will see immense
| profits for the coal roads. Some of
| these securities have had good advances
| but others deserve much more than
they have yet received Reading first
| preferred is one of these securities. The
4 Reading is the greatest of the coal roads.
| Its business was hurt by the coal miners
| strike but there will not be a strike every
year.
The community of ownership plan is
| the popular one with big interests every
| where at present. The controlling inter-
ests in the New York traction companies
are working similar plan to that
that has been carried out so successfully
among the trunk lines in the East, and
is at present reaching fruition among the
Western systems. There can be little
doubt that the Metropolitan people have
bought large blocks of both Manhattan
and Brooklyn Rapid Transit in the past
two months. One of the best informed
brokers in the street is authority for the
statement that this buying has been
steady and in immense volume. The re-
suit OF the plan cannot but lie beneficial,
though perhaps, the immediate effect on
earnings will not be so great as 1t VIII
among the big railway systems. The trac.
tion securities were all buoyant yesterday
morning, but later they declined with the
gains for the session.
The grangers as group should be con-
sidered the features of the market per-
haps. though speculation was satisfae-
torily broad St. Paul went to 14S thus
registering the highest price for twenty
years, and at this level the buying was
of a sturdy and determined character,
that suggested $50 for the stock in a short
time. Professional traders expressed the
belief that this figure probably would be
reached on the first day of the new year.
The buying seemed still to come largely
from the same interests that have been
booming the stock recently. Burlington,
which was weak on Saturday on account
of poor statement for November. full
filled the expectations of its friends early
in the morning by advancing steadily to
1i4. 1t was believed that further ad-
vance will probably occur tomorrow.
Atchison common and preferred were
both strong, the preferred making a new
high price record above SO. Rock Island
was strong around 100. The buoyant tone
Of the newspaper renorts on the closing
of the market year Sas made the public
more confident of the railway securities
in particular, and t2ere Is continuance
OF the steady investment absorption of
these grangers. Toward he close there
was some natural prof. taxing.
Pennsylvania advanced almost to 40
There seemed TO be race between this
stock and St. Paul as TO which should
reach that price first. People with long
pocketbooks and long heads have been
buying this stock for a long time, and the
advance though delayed somewhat, is en-
tirely satisfactory. There is talk of
much higher level for II than the present
one. New York Central sold at 145 Eek
dividend. The Baltimore and Ohio securi-
ties were strong.
Railway earnings for the third week of
December were superb. Fifty lines make
returns, showing gain in gross earnings
OF 81 per cent.
Sugar advanced sharply TO 149, but the
buyers there encountered some important
opposition, and the price reacted three or
four points at the close. The probability
is that the stock will sell at higher level
in the near future, but it is dangerous
either to buy or to sell, IL one is an out
slider. There was no news regarding either
the trust or its stock yesterday.
The Pacifcs were quite as buoyant as
the grangers at the opening. both Northern
common and Union common making new
high records.
Leather fails TO advance. though 1t has
been tipped as great purchase.
The steel securities were again quiet
though they held their own well. II is
thought that the upward movement in
them may begin with the New Year. The
iron trade reports are improving every
day Orders are booked for nine months
ahead