The Washington times., 1901-11-05

ments yesterday for today's steamer and
| the indications all point to further
| mOvemen mt of the precious metal this week
| and next. London, Paris and Berlin all
! want American gold and at present there
is no reason TO suppose that they will
| not be provided with several millions of
people-are not in the least worried over
| this prospect, and in all probability are
not allowing it to affect their plans for
| the stock market in the least. The cot
| ton movement will be very heavy from
| now on, heavier than usual, because IT
has been so long delayed. This influence
| alone would soon stop the movement OF
| gold If there were no other. A Tightening
| Of money on this side would check the
| movement automatically before 1t could
| become dangerous In any way. Therefore,
! il is very certain that no more of the
| metal will be sent out than can be spared
| easily and comfortably. on this side the
| financial situation is shaping itself rapidly
| in a more favorable way. Tae movement
| of money from the interior 10 New York
! already equals that away from New
! York and this week or in the near future
it is to be expected that the balance Will
! be handsomely in favor of New YORK The
| purchases of bonds by the Treasury De
! partment will be another favorable factor.
although it is not considered likely that
The stock market will be closed today
| on account of the election holiday. Other
markets throughout the country generally
will be closed.
The feature of the market yesterday
afternoon was the great strength of
! Union Pacific. a vast amount of the stock
changed hands and the price was ad
| Vanced to 10S and a fraction the highest
| price Of recent weeks. The buying was
] a.,
clude the possibility that any except the
| most important people were engaged in
| the movement. Naturally II was inferred
| that the buying indicated inside knowl-
| edge that the Northern Pacific matter has
| been settled, at least as far as Union Pa
| cific is concerned, and in a manner en-
| tirely satisfactory TO that company
| Theories as to what the character of the
settlement is were not so worthy of Gre
dencc as the supposition thai II VIII soon
| be announced This supposition is now
generally advanced. One rumor yester-
day was that the matter will be closed
up today sufficiently TO be announced to-
morrow morning ST Paul was strong
but did not make any advance. Northern
Pacific preferred and Southern Pacific
were also strong.
There was activity and strength in the
AtchiSon securities. especially the com
mon. The buying here was also very
heavy and persistent, and of character
that did not seem consistent with the
manipulated. The rumor was again heard
that Pennsylvania interests are buying
the stock with a view to a closer alliance
between the two companies. II is certain
too that there is some Investment buying
on account of the fine report of the COM
pany for September.
Southern Railway preferred and COM
mon were both strong. Two stories were
circulated to account for .he buying in
them One rumor was that the Pennsyl-
vania is also buying these stocks to OBJ
tain an influence in the company. Another
was that Southern preferred is soon to be
put on p .er cent dividend basis and
then to be retired. and replaced by 4
ner cent bond Apparently this move. II
il is to he taken. is still some time in the
future. But even If the preferred is not
to be retired at par this month or next
both the preferred an1 the common stocks
are considered good investments by many
people.
Norfolk and Western and Chesapeake
and Ohio are also well thought of by con-
servative interests that have watched the
affairs of the companies during the past
three or four years. Their prosperity is
OF most substantial character, and
far as can be judged it will last for a
long time. The soft coal business is in
excellent shape. The September net earn
ings statement Of the Norfolk and West
ern was given out yesterday and made an
entirely satisfactory showing the in
crease for the month being nearly $4,000.
Thern is much gossip ahoat regarding
the affairs of the Sugar Trust, and tips
iu buy or sell it have been widely dis
tributed. Developments OF some nature
likely to be seen in the near future
apparently. as such a food of gossip usu-
ally marks the advance guard of a move
ment by the trust. Perhaps. however, II
is simply the outlook for legislation OF
Importance to the trust early in the com
ing session of Congress that is causing
the interest in the stock.
The anthracite coal securities were
strong yesterday. the Eries especially be-
ing conspicuous FOR more than their usual
activity. These stocks have been neg
lected in the market Of the past two or
three months and until within the last
few days hut they are likely to be the
more interesting now in consequence. The
coal business is in a wonderfully prosper
Gus condition
Peoples Gas was one of the few weak
features Of the market yesterday, selling
off to par and retaining only a point of
its loss during the general market recov- |
cry in the last hour The fear of re-