The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-10-01
Government Bonds.

The professional character Of the Stock
Market is shown very clearly in the fact
that business almost ceased this morning
owing TO the absence of the room traders
at the yacht race. Fluctuations We're
small and the volume OF business was in
consequential No movement Of import
ance was seen anywhere. Such orders as
were executed were largely for purchases.
and prices advanced slightly in most in
stances. showing that the traders have
again TAX, n another tack There will not
be yacht aces every day. bUJ the pro-
feSsional market Is likely 20 continue. and
careful people do not look for much Of i'm
portance in the way Of fluctuations in the
near Iuturs- The outlook for late in the
year is good. in the opinion Of many con
serVative people General conditions sem
TO favor the advance Of prices, and IL is
certain thar the important interests viii
be very glad 70 take advantage of these
conditions, if possible. and as soon as
possible.
The feature Of the early market was
perhaps Atchison. common. which ad-
Nanced sharply a point or more and held
its own at the better level excelleutly
The earnings reports Of the company, the
annual report. and the August net earn
ings report are exceedingly encouraging,
and IL is probable that there is invest
ment buying IN the stock based on them.
For the most part, however, this morn
ing $ advance was due 10 manipulation.
y he stock is considered a good purchase
on reactions by many careful people.
The Steel securities were firm. though
not above yesterdays best level. The
meeting Of the directors today was the
subject Of much speculative gossip. It
was said that the dividends would be the
same as they were three months ago. and
that good earnings statement " JuId be
issued IN all probability.
The comparison is made between United
States Steel preferred and Sugar. and
some very well informed people are ex-
pressing their belief that the former
should sell az as high a price as the latter.
- Is not a good comparison. Sugar IS a
speculative stock VIGOROUSLY. and there
fore always certain o. sell relatively low
compared with the general list. but il may
be put on a Il per cent dividend basis at
any time Preferred Steel viii never get
more than per cent. but II seems very
sure 20 get this dividend for q long time
20 come, and Is therefore entitled to be
considered an investment stock Of a very
good character Many people believe
that on this basis IL should sell well ab0-c
par II would be- fairer to compare Sugar
preferred and Steel preferred
The Copper securities were dull
Nothing new is heard Of the outlook for
the trade, and many people believe that
the worst has become known already.
Pacific Mail was again strong this
morning The boom in the stock
is on the announcement that
the AtchisOn VIII give it's Pacific bust
ness 10 the company hereafter as well as
the Southern Pacific Railway. The COM
munity OF interests between these two
systems regarding Pacific business Is con-
slcered most significant by many careful
observers. and there would be no great
Aurprlse al any time II some announce
ment were made Of the AtchisOn getting
into the Western combination along with
the GOulds, Harrimaus, and MOrgan-Hiu
people.
Union Pacific and St. Paul were both
inclined TO strength this morning. the for
mer rather more than the latter. how