The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-03-13

The stock Market was consistently and
agressiveIy strong this morning. with
little OF the indications Of liquidation so
evident at the close yesterday The rail-
way list IN general, the fractions. and a
few Of the industrials shared in the ad-
Vances made Before noon duIIness
showed itself, however, and il
was seen that decline was by no means
unlikely during the later hours The ad-
TanSz has been 50 persistent that = re-
acIlOn Of point or TWO Is more than
Hkely. As MAS suggested this morning
II Is not Impossible that the failure OF
the 81 PAU directors 10 increase the
dividend rate on me stock may be the
immaculate cause of the break. Another
thing that the bears would take advan-
IGge OF eagerly would be more djScof1-
aging news from the anthracite mines
another matter that they would consid-
er most favorable to them would Dc 4
6harp advance IN the money rates. But
OF course, II there is 20 be a recession
there VIII not be wanting facTS IN rhe
situation that can be converted 10 me
use OF those who make the break on
any such reaction Of two or three points
lAefe Viii De good buying for investment
II IS not believed that the boom OF IyyI
IS over yet, BY any means
The market was almost entirely devoid
Of news This morning London sold stocks.
but this hau TO effect whatever on the
New York market. There was some little
talk OF the possibility Of tighter money.
but this too had no effect.
Gossip regarding the Pennsylvania in
crease Of stock was one Of the chief topics
OF the Street. and il is apparent that large
discretion given TO the directors makes
speculetors most uncertain as TO what
the course Of Pennsylvania stock is likely
10 be IN the near future There was an
advance II the opening 10 1873 but the
stock hesitated there and seemed likely
TO decline again.
Burlington made few high prices this
morning la u, an advance Of nearly a
POINT from the high Of yesterday The
persistent strength Of the stock is now
attributed TO talk OF an increase in the
dividend Air. Iiill Is OUT with q positive
denial that he = after the Burlington
ST. Paul, unlike Burlington. had a dis
timely reactiOnary tendency as If people
were beginning to fear that no increase in
the dividend VIII be made. The other
granSers held their own fairly well.
The Traction securities under the lead
Of Brooklyn were buoyant- Brooklyn
soon advanced to above 81 for the first
time recently. Consolidated Gas was also
very strong, getting to III 81 during the
first hour The fact that these securities
that there may be something in the talk
OF q less stringent Interpretation of the
New York State Franchise Tax law.
American Cotton Oil is showing strength
for the first time IN some weeks AS
far as the public knows, the affairs OF the
company are in excellent shape, with
earnings large and business increasing
With this, and with the fact that the
stock has received a dividend during the
past three years. the price Of the stock
does not harmonic ia the least The
disbursement last year was 4 per cent.
all paid II one lump In the year before
Z per cent was paid 1t is possible that
this company, like some Of the other in
dustrials, has something hidden that VIII
but on the whole il would seem that at
its present price the stock might be
bought with profit
The Steel securities continue quiet,
showing no disposition either 10 advance
or TO decline. The declaration Of a diyf-
dend on Wire, common stock, causes some
dissatisfaction among former holders of
Morgan & Co, as under their agreement
they VIII not receive any benefit from
the dividend.
The Baltimore and Ohio net earnings
statement shows & small increase.
Washington stock Exchange.
Sales-Mergenthaler Linotype: 5i4I62. 30
slel-selier 80, 26Qi6l1z, 50g1el, ZGa161iz. 80