The times. [volume] (Washington [D.C.]) 1897-1901, 1901-02-12

! stocks. 4 strong market before holiday
/ is generally considered most bullish
( sign. Some Of the most important people
/ in the street advise buying stocks on
| every reaction. II was said yesterday that
I the Flowers advise buying the steel Sc
| curities and Rock Island. An excellent
authority states that the st. Louis ana
| San Francisco securities are likely all TO
/ have good advances in the immediate fu-
/ ture. So also it may be mentioned in the
same way that conservative brokers talk
/ Of the probability of advances in BurlinS-
/ ton Atchison preferred, Sugar, Little
( Leather and a number of other securities,
| railway and industrial. 1t need not be
pointed out again that intrinsic conditions
are all favorable to an advance rather
than decline.
1t is. perhaps. fairer to judge the condi-
: ton of the market by the few movements
| of Importance that occurred, than by the
| many securities that had no particular
movement. The general dizziness was not
weakness and the few sharp movements of
| the day were all advances except enc.
| Half dozen stocks advanced from a point
! to two points and only one stock Smell
I ters'' went Of to this extent. And FUR
! thermore the break in Shelters was On
! fake story. without truth, so that the
stock may be expected to recover tomor-
} row The statement was made in the
! had been hitch in the Shelters deal
and that the Guggenheimer concern would
/ not be absorbed. On this story the STOCK
broke from 60 to sc and a fraction. Later
/ in the day 1t was announced omciaiiy mat
the deal is progressing faVoraoly ara
that there has been no hitch oil any klnd.
| The news was too late TO do the stock
much good however Shelters is con-
sidered by many to be one of the most
| promising of the new industrials, judg-
! ing by the past earnings of the company
and the even much brighter prospects
under the new consolidation.
Peoples Gas was one of the buoyant
/ stocks OF the day, getting at one time as
! high as IO4 Is There was an excellent
reason for the advance. The annual re-
port of the company proved to be tine
T one much better than had been expected
! The gross earnings show an increase OF
/ $994,O1S for the year. The net earnings
show an increase of $3.50, 26S. The surplus
/ increased 1858 600 There was charged OF
/ Sis. 766 in excess of the amount charged
/ off a year ago. The dividend for the year
at per cent was S1,720.O00, and there ie-
manned after the payment OF the Dividend
J a balance. showing an increase OF S239, 800.
4 There was earned on the stock during the
year 7.6S after the large amount charged
/ off These & CURES made some buying OF
( long stock bur. more than that they scared
many of the shorts into covering. The
/ per cent dividend on the stock seems as
sured RS the gas business is not growing
smaller but larger all the time And with
/ this outlook the present price should re
considered a very low one by any in
weston that cares to take some specula-
tive risk.
The railway securities that made the
best showing Of advance for the day were
Union Pacific preferred and common ana
Atchison common. Atchison common, at
one time. sold as high as 81, another new
high price record. The preferred at the
| same time sold up to So 1-2. which is also
a high price record. II the dividend re-
Gently paid is included. These two stocks
| sold OFF at the close to about their OPEN
! ing prices. but should be considered to
| have made an excellently strong showing
! for the day. The Tip" is given TO buy
the preferred stock for an early upward
| movement of Importance. 1t is thought
| by many that the common may go TO GU,
but these people may be disappointed
and in any event there is much more
safety in the preferred, which Will more
than pay for itself in any break in the
market that may come unexpectedly.
Union Pacific common has been talked
about as likely to go to par for two or
three days The action of the stock yes
terday was such as TO confirm rather than
discourage this belief. 1t opened at 81
and advanced 10 &c I-2, closing at sc The
preferred advanced to 50 is. and it closed
at IS SIS, well above the opening price.
The steel securities generally were
strong but not buoyant. Federal Steel
common advanced TO SO 81 during the
day and closed at 90 IA. Wire common
advanced 10 80 IL, and closed at the same
level as Federal Steel. The preferred
securities of the group were, perhaps,
stronger than the common. Careful peo-
pie are beginning to consider them seri-
ously as investments and there can be lit
tie doubt that they will have steady
advance during the coming weeks if the
market is in any way favorable. AS to
the common stocks. many expect to see
them boom handsomely Immediately. The
announcement of the completion of the
Carnegie deal may be made on any day
and there is some talk of probability
that it may come out tomorrow.
The Flowers are said to be promising
their friends that an increase will be made
in the dividend on Rock Island at the next
! payment. 1t Is stated that Il may be in
I the form OF an extra, or even possibly an
! increase in the regular rate. few weeks
! ago this talk was heard in the street but
D
by some usually well-informed people.
Now it is said that there has been A
change in the plans of the company which
assures the increase. Rock Island was
weak yesterday nearly all day as were
all the other securities of the granger
group except the Atchisons
Sugar continued TO advance yesterday,
getting at one time as high as l42 as. 1t
closed at f41 IL. with a good net gain.
An advance in the price Of refined sugars
is to be made and the professionals are
/ buying on this account There is also
some talk OF a return to the old II per
cent dividend rate, but this is not proba-
bic, II is said-not at present at least.
The New York Traction securities at one
time showed some activity. but they made
no net gains for the day. The outlook for
the group is gooa, according to some of
the best authorities. II is said by on
GERS OF the Brooklyn Rapid Transit Com
pany that the earnings are increasing
steadily at the same time that large cuts
are being made in the operating expenses
Washington stock Exchange.
sales-Wash. Traction & Elec. 4 1-2's,
s.. O0OM63; L. S. Electric Light, Certificate.
1.O0O@102 IL; Capital Traction 100
los 81; National Union Fire ms. Co, 70GD
9; Washington Gas. 25d56 "a. 275Q56 SIS;