The times., 1901-03-12

burlington later i'm the day advanced t.
! Isl, a rev high price for it. crossing st.
! Paul in the move The other grangers
! All made good gains. Before the ciose
! there was some recession in the group,
I especially in ST Paul and Rock Island.
| These stocks were considered by many Il
! be purchase on reCcssionS The gossip
| of the day regarding them was that IN
| Burlington and Northern Pacific deal Is
! an actual thing, ana that the st. Paul
! directors Will declare a per cent divi-
/ dend on their stock at their meeting on
Thursday If Mr.. Field did make the
I bet he was credited with three weeks ago,
} that Burlington would Soll above st
] Pau! inside OF a month, he won It yester-
7 day.
The anthracite coal securities We're
strong all day and closed near the top
I prices win good net gains. Reading first
4 preferred went as nigh IS q Il. ana
closed at g. and the other issues We're
/ also strong Delaware and Hudson made
! a good advance. The bituminous coalers
were also strong, more or less in sym
pathy with the anthraCites. The prob
ability that there VIII be no coal strike
should be considered the moving cause
/ OF the advance. though it IS not in the
! least impossible that Mr.. Morgan may
/ take this opportunity TO make a little
boom for them. The group is selling much
| below its legitimate level when compared
! with other railway issues.
| The steel securities both the new on
! the curb and the old on the exchange
were trific stronger yesterday after an
/ opening decline. though there was not
much activity in them. It is not unlikely
! that movement may be inaugurated in
the group in the near future. The Wire
company yesterday declared the regular
! 81 per cent dividend on the preferred
stock and ii dividend OF IA per cent on
the common stock quarterly. a recovery
OF a point occurred in the common immed-
: announcement
idcnd action. II was said that young Mr..
Gates. who lately became "A member of
the exchange, was buying the stock heavi-
There was an interesting advance in
The Car Foundry securities yesterday,
both making new high price records. The
company Is making a good showing OF
earnings and an increase of the dividend
on the common stock is not unlikely.
The ST. Louis and San Francisco Sc
/ curlties were all strong and the tips to
! buy them were renewed in the quarters
where they were first heard before the
/ last advance. one prediction was that the
preferred stock viii advance at least &
points The Southwestern securities were
also strong and there was a sharp bulge
| in Missouri Pacific. which. however, was
not held very well. The earnings of the
/ St. Louis and Southwestern for the first
! six months of its fiscal year are said to
| have been sufficient to pay the full years
! interest on the bonds and per cent on
| the preferred stock.
A . per cent quarterly dividend was de-
clared on General Electric yesterday. The
stock opened high, but sold of somewhat
before the close.
| SmeIters stock was buoyant during the
last few minutes Of the day, getting up
to IS. The street generally did not know
the cause Of the boom until after it had
occurred. Vice Chancellor Stevens, of
New Jersey, late in the day dissolved the
temporary injunction against the com
pany to prevent il from acquiring the
Guggenheimer plants. There VIII be an
appeal probably but this decision is con-
sidered by many virtually to end the
matter.
One of the New York papers yesterday
morning had a story that the Louisville
and Nashville has purchased the Sea-
board Air Line. IT was denied later in
the day. 1t is not improbable that the
purchase has been made, despite the de-
nial What viii follow this may be the
absorption Of the Louisville by the South
ern. There have been hints of the most
persistent nature that the Southern will
soon have control Of the entire railway
system of the South. Louisville was
doomed to 95 Is on the story, and al
though II sold off somewhat later in the
day II closed with q good net gain. The
Southern Railway securities were strong,
but not active.
Other Southern securities that were ac-
tive and strong were Chesapeake and
Ohio and Norfolk and Western common.
Both were advanced to new high prices
but closed off somewhat from their best
levels. The New York papers reiterate
their story that the Pennsylvania has
leased the former road. but there is prob
ably no foundation for 1t other than
possible increase of the Pennsylvania
holdings of the stock. However, the earn
imgs Of both these lines are superb and
the advance made by the stocks seem TO
be thoroughly logical one,
The talk Of a coming boom in Manhat-
tan is heard again. The stock was active
and strong yesterday, getting at one time
as high as 12l. 1t had a sharp decline
before the close 10 about it's opening
price. The other traction securities took
about the same course during the day.
The Western Union directors viii hold
their meeting on Thursday The stock is