The Washington times., 1901-11-16

age. Call loan rates eased perceptibly
! Yesterday and the financial experts pre-
| 'lictC5 t6ai there is likely 70 be an in
| crease in cash shown by todays New
York bank sta atement.4 The interior cash
| movem nj has been In favor of New ork
| and the purchases of GoVernmen mt bonqs
| by the Treasury Department have nearly
| Httset the exports of gold on Thursday.
| 'ihc estimate yesterday afternoon was
| hat the banks have gained from the in
| j,rior 81 500 Gl0 ana lost to the Sub-Treas-
! ury $500, ,ea, leaving a net gain of SI0j,O0l.
| h So figures may prove to be much out
| oi-the way, Of course, as frequently hap
| pens, The loan account is much matter
| uf question. The commission houses bcr-
| rowod cash rather heavily early in the
| week, bat there was much paying of
| loans later. 1t is understood that there
are not to be any shipments of gold ON
/ today's s steamer.
! Nothing new regarding the Northern
| Plcliic deal was heard yestor rddy. a
| prominent broker is authority for the
| state mont that the interests Of the st
! Pau have been safes ud. dtd IN the set
! tIcmopt dospi,e tho fact that there IS no
Official announcement to tins cileCt- me
/ renewed strength Of the stock yesterday
/ was due to a general acceptance OF this
| view in the street. Union Pacific was
strong because the wis6acres say the Har-
riman interests have gained everything
/ th,y ucu.uuu,d il the settlement, and a
! iittle more Mir. iiill is to be the Presi-
dent of the new Northern Securities Com
puuy. Northern Pacific preferred stock
naturelly has settled back to near par.
At thc outside the stock would seem to be
not worth more than i9l, or par value
plus tie extra l Per cent dividend to be
paid when the stock is retired.
The most spriGhtly movements of the
session were in the New York Traction
| securities. Metropolitan advanced more
I Ii afsH... 9 Il
! top. Manhattan went above ljD and held
! its own at ntGr the best level BrUOkIl Il
| got nearly to 40. The buying of the
stocks was immense, especially during the
| last hours Of the day, and it seemed not
! likely that professional manipulation
could be responsible for the entire busi-
ness. The rumor Of a lease of Manhattan
| by Metropolitan was brought out again
and received much free circulation.
Buoyancy in Smelters. Anaconda Cop
per and Amalgamated Copper was eN-
planned by the stcTy that MIR. 1einze has
promised to sell his copper holdings to
the Amalgamated Company.
The anthracite coalers were all strong,
but especially the Reading securities.
these stocks. There is much inYt StDent
by shall people because OF the excellent
coal trade conditions and the fine re
ports Of the companies. OF a differ, mt
nature is uuyiug which seems to come
from large in.eiests. This was especially
noticeable IN the Readings yesterday.
The voting trust Of the Reading Company
viii be dissolved next year, ana II Is sug-
gested that when this occurs tue haf-
mony in the coal trade cannot De made
certain unless some one party has secured
control of the company. The Morgan
holdings Of The securities OF the company
are large, and it is not impossible that he
may contemplate making them larger be-
fore the voting trust Is dissolved.
Western Union was weak all day clos
ing near the lowest price instead Of at
the top as the general list did. one of
The stories to account for the selling Of
the stock is that the company has lost a
number of its valua&ie contracts recently
To the Postal Company. The story has
been told before, but no official confirma-
tiuu for il can be obtained. The install
iation of the Postal lines in Cuba will
cut into the Western Union revenues
somewhat.
The street hears much talk regarding
what is TO occur at the Baltimore and
Ohio meeting next Monday. 1t seems
certain that an issue of bonds and com
mon stock will be authorized TO pro-
vide oap;tal for the financing of the Nor
folk and Western. These securities will
be offered TO stockholders at par. 1t is
not likely that the question Of an Increase
in the dividend rate on the common stock
viii be taken up at this time, as the div
idend is not payable until next March.
The stockholders may authorize the end
ing OF the contract with the Chicago Ter
rninal Transfer Company for the use Of
its entrance into Chicago. as the terminals
OF the Pennsylvania Railway will be
available. and a large saving could he
effected by the cutting OFF of the payment
to the Terminal company.
There were gains in all the Gould Sc
cUritics Missouri Pacific especially get
ting two points above par. The street
h ars the suggestion that the Greater
Missouri Pacific deal is likely TO be the
next to be carried through. This deal
has been waiting, it is said. for an easy
money market. and for the completion
of the settlement in the Northwest.
The Vanderbilt securities We're strong,
pC rhaps because the rulnOrs Of Wander
bit deal are also persistent.