The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-27

fnanciers 1t is not in the least certain.
i however. that Mr.. Hill is at the head OF
this coterie, or that the Northern Pa
ciiic is to assume control Of the system.
Despite the extreme buoyancy of Bur
lington at the close yesterday. there are
many careful people who do not believe
it will sell much if any higher
The advance in these stocks was so
Overwhelmingly the feature OF the mar
ket yesterday that the minor advances
and declines look entirely unlmportant
from a distance. But II Is fact that
some of them were such as would have
attracted much attention ordinarily. Inc
traction securities. for instance, broke in
a most disheartening way all day. ana
at one time were off three points from
the very low prices of Monday. Manhat-
tan went to 122Is or off nine points from
the level of week ago. Brooklyn Rapid
Transit went as low as lSSi, decline of
exactly three points from the high. A day
or two ago it was selling not very far
from 80. Metropolitan, which has been
extremely weak for several days. con-
unnued to decline, getting at the low dip
to 1907. There was sharp rally in the
group during the last few minutes of the
day, but the close still showed important
reactions. The new story yesterday was
that bill for scent fare on the street
railways in Greater New York VIII be
pushed to law by the Legislature. There
is no fear that this threat will be car
ried out. 1t has been decided virtually
that such a law would be unconstitu-
tional. The stocks were raided on the
story, which served as well as any other
for the bears who are extremely pessi-
mistic over their outlook. 1t is said, for
instance, that the Metropolitan will have
great difficulty in earning the present
rate of dividends on its stock. and that
the rate is likely to be cut in the near
future.
Railway earnings for the third week of
March ali showed excellent gains. The
following were increases for the week
~ gfE NM ATFaV.f .1lr I'd
Western, 1000; Chesapeake and Ohio,
$4,000; Mexican Central, $4,000; st. Louis
and Southwestern, $4,000: Southern Rail
way, S63. coo: Texas Pacific So, 600 The
net earnings of Erie for the month of
February showed an increase of $4,000.
1t is extremely probable that there will
be other most important announcements
during the next day or two. The people
that believe the top has been nearly
reached in the boom say that all of these
announcements will be brought out at
once that can be in order to carry prices
as high as possible and allow of the float
of as much stock as possible. one an
nouncement is promised by people very
close to the management of the Southern
Railway. 1t is said that it will be Of the
utmost Importance and that the securi-
ties of the company should be advanced
sharply on it. One story connects the
Southern with the Pennsylvania in deal
for the leasing of the former. Another
rumor gives the Louisville and Nashville,
the Plant system, and the Seaboard Air
Line to the Southern.
Another announcement regarding Penn
sylvania is promised and the people who
make the promise say that the stock will
have a sharp advance.
The steel securities generally were very
dun all day, which is curious when it is
remembered that the boom in the market
at the moment is probably largely kept
up for the purpose of floating the new
under conditions