The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-01

The st. Paul boom did not proceed any
| further yesterday. the price reaching 155
again and then receding. There was good
buying Of the stock. but also some realiz-
| ing of profits. The insiders are quoted
as saying that the advance is not over
! yet The directors of the company met
yesterday and decided to make an issue
| of 10 per cent of new stock, to be given
| TO stockholders of record March u, at
| BAR This is equal to about per cent.
| extra dividend on basis of the present
| price of the stock. There had been gossip
y to the effect that something of this kind
would be done. but the Gews of the action
| OF the directors was not given out until
the market had closed. This should have
| an immediate good effect this morning
| II may be stated on good authority that
| the G per cent. dividend rate viii be
! established. The st. Paul statement Tor
January was also made public yesterday.
! II is most bullish showing. especially
when taken in connection with the more
| recent gross earnings statements. inc
! increase in net earnings over last year
/ was $lO5.634.
! The other grangers were weak, espe-
| cially the Atchisons. There was nothing
new regarding any of these companies,
hut it is still said in the street that there
is deal on in Burlington. The story
has been that the deal is being postponed
temporarily until the big steel consolida-
ton matter is in measure out Of the
way. The Atchisons were bought for In
vestment yesterday by some shrcwd Feo
pie. st. Paul declined from 1856 to 1853.
Rock Island from 12S3s to 122A. Atchison
common from 55k to 55B. Atchison Pre-
ferred from IS to s1ss, and burlington
from 1879 TO l4otS. The close in all cases
was near the bottom.
The Steel securities were again soft"
one of the weakest market features. Wire
AZ the close in each case being practically
at the lowest level. Others of the group
had about the same course. except that
Wire preferred was strong, closing at 81
The experts continue to predict that the
holders of these. securities will be salts
fled with results II they are patient. Presi-
dent Gary, of the Federal Steel Company.
was one who made such statement yes
terday. He said that the right to OK
change for the new stock will be found
to be valuable privilege.
Shelters stock was one of the few ex-
ceptions to the general weakness yester-
day. 1t was advanced to SO at one time
and closed near the top. The statement
of President Nash quoted In this column
effect on the stock. 1t is said by people
who ought to be well-informed regarding
the affairs of the company that the stock
is likely to advance further.
The agreement of the conferees on the
War Revenue bill is a most important
step forward and there are many now
that expect to see the bill easily become
a law at this session. The bill is bullish
from the point of view of the New York
Stock Exchange. 1t is especially good
thing for the Tobacco Trust, though the
trust, of course, does not get all that 1t
wanted. The boom in the Tobacco Sc
curities was caused by advance informa-
ton regarding this action of the confer
ence committee. The stocks had a break
news. The Continental Tobacco directors
yesterday met and declared the regular
dividend on their preferred stock. There
has been some doubt whether this would
be done or not. The announcement was
not made until after the close of the mar
ket.
The net earnings of the Union Pacific
Company for the month of January in
creased S1G2,06i. There was heavy liqui-
dation in the stock yesterday and al
though IT was undoubtedly supported
strongly it declined slowly all day. The
sellers are professional bull clique il is
said. The buyers are probably more i'm
portant set Of people,
Amalgamated Copper was strong yes
terday, with an advance TO 95 and close
at "a, well above the close of Wednesday.