The times., 1901-04-13

yesterday might also suggest that the
Secretary is not doing his part But
these matters can be explained away on
the theory that MIR. Morgan may not yet
consider it worth while appealing to the
Treasury. 1t is even possible that he
may be willing to have prices go off a
little and for short time preparatory
to another upward swing in the securities
that have not yet been advanced with the
remainder of the market.
The statement of the General Electric
Company for the year ended January 81
is all that has been promised for il and
II is easy to understand why the stock of
the company has been in demand among
the insiders. 4 ne profits of the company,
after dcdUcting an expenses and ali al
loWanceS fer depreciation were S6,245,VoO
Dividends on the preferred and common
stocks and interest or the debenture bonds
were $,95Sot0. leaving a balance of 81
10000, which has been carried to the sur
plus Jund- his showing of profits Is
equal to per cent on the preferred stock
and so per cent on the common. The or
ders received during the year aggregated
S2S V@.coJ against 600 in the previous
year. and against 600 in the year
ended January 81, 1897. The total amount
of sales billed TO customers during the
year were IS, .OG0, and during the last
three months they have been nearly 50
0U,JU0. The company has been exceedingly
fortunate in its Investments and the Sc
q
much more than they were three years
ago. General Electric stock went OFT
trife yesterday on the announcement OF
the report, IS usually happens, the clos
ing price being 2Z1.
The rumor that the Pennsylvania is
buying the AtChison and the Rock Island
was heard again yesterday. but there was
no more official sanction for 1t than on
the day before. The Atchison and Rock
Island securities were both buOyant, es-
peCially AtchiSon common and Rock ISL
and. Rock Island got as high as 155,
nearly the top price for it. and Atchison
common as high as G5Is. There was some
shading from these prices during the last
hour.
The Burlington deal story is in the same
unconfirmed condition that it was two
weeks ago The daily promises that the
deal will be announced officially before
the close do not fulfill themselves, and it
seems evident that at least there is
hitch in the negotiations How serious
this difficulty is no one can tell that is
not on the inside, but the game of specu-
iatinS in Burlington is a very dangerous
one at the present level of the stock. 1t
is needless to say that if the deal fails,
as the st. Paul negotiations did, the stock
is selling many dollars share higher
than ii should on its merits. The latest
unofficial statement regarding the condi-
tion of the negotiations is that the Bos-
ton stockholders have at last acquiesced
in the terms offered by Mr.. Hill for their
stock; Mr. Hin, to get them in. having
raised his bid from So. 900 to So 500 in
bonds for 100 shares of stock
The anthracite coalers were among the
most buoyant stocks IN the list during
the afternoon. perhaps because the fear
of strike on the Jersey Central Is pretty
nearly iaid at rest. Delaware and Hudson
advanced from 1f6ia to lS2. and it closed
at $50. with a good net gain. Jersey Cen
trail advanced half point. Reading first
preferred got as high as 16%4 and closed
at IS, and Ontario and Western made n
net gam OF point Both the latter
stocks are considered good purchases at
their present level by some careful in
VestorS.
The steel securities were almost the
only ones that did not make some ad-
vance The bulls are mystified at the
failure of these stocks to lead the mar
ket, but rs matter of fact there should
be no surprise at this. There are reasons
for believing that there are million
Shares OF the common stock for sale at
90, this being a very conservative esti-
mate The people that know this and
wish to sell are, therefore. inclined 10
shade trifie from 80 in their price. At
g the other day there was an ocean for
sale ana the price went off rapidly de-
spite another ocean Of buying orders from
inside maniDulators. Market traders say
that for time the stock should be pur
chase around 40 and 46 and a sale around
~ and ~. They believe that Mr.. Keene
VIII not wish the price TO go below the
low figure if his 500 600, 900 cash viii pre-
vent it. \ break in these securities would
spoil all chance for the contamination of
the various Morgan deals and all other
deals now pending. II would end the bull
market for long time TO come.
The traction securities were strong for
no reason that the street heard. Metro
politan at one time sold as high as 1897.
The strength in Amalgamated Copper
was ascribed TO a large short interest
The stock sold as high as 116 and closed
at is.
Union Pacific was one of the strongest
OF the railway securities, getting as high
as 94Iz and closing at $685.. 1t was rlinnor-
ed that AN announcement Of an impor-
tant nature IS to be made regarding the
stock IN a few days, but the nature Of
the announcement was not revealed The
stock is selling at a price too low com
pared with Northern Pacific, and it seems
entirely probable that the gap between
( hem will bp closed I'M