The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-08-08
Government Honds.

The continued strength Of the Stock
Market in the face OF Specifically most
adverse circumstances is the best posi-
he evidence that the speculative supply
Of stocks = small, that weak holdings
have been weeded out and that in fact
stocks are strongly held. When the mar
ket has a good drop in prices and then
persistently refuses 10 go lower through
& succession of dull days like those Of the
past two weeks il is a very good sign that
the bottom has been reached or very
near it. All signs fail sometimes, but
speculation in the Stock Market should
be based on the doctrine Of chances, to a
certain extent At least, and the chances
seem 10 favor the betermCnt OF the mar
ket before there is any serious setback.
Such at least is the opinion expressed by
a great many careful market people
Such people have been buying securities
on the reactions for some days. They
take profits on the bulgeS. many Of them.
but this is only because the market Is
largely a professional affair and not like
~ to have any important swing in either
direction for the present.
The en-i-e market advanced this morn
ing in a very encouraging manner The
Steel securities got respectively, above
A and nearly 10 q, making gains Of near
~ a point in each ease. The grangers all
showed excellent advances. St. Paul and
Union Pacific being the leaders, perhaps.
but being followed closely by Atchison.
common In other parts OF the list frac-
tionaI gains were made and the advances
were held strongly. A slight tendency 10
reaction occurred before noon. but prices
were not hurt much The support Of the
Keene pool in tho SteeIs was noticeable.
and there was heavy covering by the
shorts The news OF the day was not OF
such Importance that IL should have caUs-
ed The bUUyaucy OF the market. The
strike situation Is really little changed.
though the bulls are talking Of the ad-
VautagCS gained by the trust. and. on the
other hand. limiting Of political and reli-
Eious pressure that is likely 10 be brought
70 bear on both parties 20 end the trouble.
Union Pacific doomed 70 gfk. There
was a hint again that the directors
Of the company at their meeting today
will increase the dividend on the common
stock to per cent. There is no reason
10 believe that there will be any change
IN the rate The company is earning
much more than 5 per cent but the out
look for poor corn crop is said 20 have
decided the mana cement against any in
crease at this time The stock looks at
tractive to many at its present level new
ertheless. For one thing IT'S property in
Southern Pacific Is likely 20 be a valuable
and remuneratiVe asset In the near fu-
tuTe.
The anthracite CJal securities were
strong. though inactive this morning
The July production OF anthracite coal
was well in excess Of last years. though
Of course. not equal 10 that Of last month
The total production amounted 10 $685.
Sl4 tons as compared with 1899 20 tons in
July 1900 an increase Of about 10000
tons.
With the corn crop trouble initiating
against the grangers in the eyes Of many.
with the steel strike casting gloom over
the Steel securities, the coalers. and many
others Of the eastern railways. and with
the cotton outlook preventing some peo-
pie from investing In Southern Railway
securities the good points IN many OF the
better industriais Will De likely 10 come 10
the front In the near future.
The Peoples GaH Company is said 20 be
earning 20 per cent. II is paying per cent
steadily and its present price should be
considered cheap The Car and Foundry
securities. both the common and the pre-
ferrod are selling at very low prices com
pared with their dividend Weld and their
"Our Old Friend"
Several other articles have been tried