The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-26

loans having been made yesterday at / IL
and "a. London bought American Sc
curlties yesterday, though not in an inn
portant way. The Brooklyn Rapid Transit
meeting occurred yesterday and the old
directors were all reelected. The state
ment OF the company for December and
for the half year makes a good showing.
Other earnings statements published were
all good Nothing new regarding the st.
Paul deal was learned yesterday.
The event Of the day from a market
standpoint was the meeting OF the Brook
Ign Rapid Transit people at noon. There
had been much gossip relative to the
prospect of important changes in the
! board of directors and the entire street
waited for the result of the meeting with
interest. One of the stories persistently
circulated was that the Metropolitan peo-
| pie would prove to be in control and that
! two or three Metropolitan representatives
| at least would be appointed. Another
story that was hawked about almost as
persistently was that connecting the
Pennsylvania people with the system in
some way. The stock has been strong and
weak by turns during the past month or
| more as these rumors have been good or
/ bad. What actually occurred at the meet
/ ing was the reelection of the entire old
/ board of directors without change with a
/ vote of confidence in the present manage
ment by the stockholders. Brooklyn was
erratic yesterday, but its tendency was
upward rather than toward lower level.
| The low price was 10 and the high a. -S,
| the close being at IS rs.
The statement of the company for De-
cembsr shows gross earnings of SSIS.O26,
operating expenses of S6IZ,567, and net
earnings OF s305.45S an increase of $500.
The statement for six months shows
c rfv,sr
perses of $3.902,051, and net earnings of
s., 235 COL an increase of S450.048 The in
crease in net earnings for the half year
is at the rate of $500, 000 for a year, or
| per cent on the stock. The operating ratio
| has been reduced materially, but it is still
| so high that there is no question as to
| the possibility of cutting 1t still further.
| The rate was about 6S for the half year
| The best managed Of the traction COM
panes operate for As to so per cent.
Missouri Kansas and Texas, Texas Pa
cific, and Missouri Pacific were all strong
yesterday being. indeed, perhaps the fea-
lures of the buying. Missouri, Kansas and
Texas sold up two points and closed at the
top; Texas Pacific advanced from 26 3-S
to % IA and closed at IS is, and Mis-
souri, Pacific advanced to 81 and closed at
Sc Ii. The persistence of the buoyancy
in these issues gives rise to renewed Cos
sip regarding them. 1t was said yes
terday that these systems are all to be
combined under one management in the
very near future. With the possible ex-
ception of Missouri Pacific the stocks are
selling at too low prices for their in
trinsic merits no matter what deal there
may or may not be on foot. The Kansas
and Texas. for instance. is earning z per
cent on the stock and increasing its
earnings steadily. A dividend will be paid
in the near future without doubt. The
earnings for the third week of January
given cut yesterday show an increase OF
S102.617.
The grangers were very dull all day
until the last half hour when they became
buoyant under the leadership OF St Paul
They advanced to the top prices for the
day at the close. ST Paul 149 t-2, up 3 S-S;
Rock Island 119 IA. up point, and Bur
iingtOn AZ IL. up "a. As usual with this
buoyancy there was revival of the story
that the deal in ST Paul has been COM
pleted, and will be announced Immediately
As far as can be learned Mr. Hill has
actually made an offer of 1-2 per cent
dividend for d lease OF the system. while
the St Paul people are not willing TO ac-
cept less than per cent. In any event
the stock is worth more than its present
price il Mr.. Hill is willing TO guarantee
l-2 per cent dividend for it.
Burlington was the least active of the
group. with an extreme movement of less
than point from bottom to top. The stock |
has been supported well around al and
142 however and it is not believed that |
it will be allowed to go lower. Some of
the most careful observers Of the market |
regard il as the most attractive of the
group at the moment The dividend will
come of early next month, and the rights
will mature also, tbs total value of the
two being In the neighborhood of per
cent. With 6 per cent OF the present price
il would be- say 1873. or more than ten
points below St Paul. Considering the
fact that the stock pays its holders s per
cent regularly and rights" frequently,
this seems to be too great a discrepancy.
American Tobacco stock continues very
firm. It sold as high as 115 1-2 yester-
day and closed at ia IS. The CONT
mental securities are also strong.
Louisville and Nashville, the Wabash
securities, the Pacifcs, and the anthra-
cite coalers, were all strong during the
greater part of the day and closed at the
top prices with good net gains.
The steel securities generally were
fairly strong. but not as well supported
as the railway list in the weak half
hours of the session. The Federal Steel
dividend OF > per cent will be Eek" next
Monday. The Steel and Wire directors
meeting will occur next week.
Washington stock Exchange.
saies-Capitai Traction As, S5001