The Washington times., 1901-10-23
Government Bonds.


| higher level. During the last half hour
| of the session there was a change for the
better of striking character. st. Paul
began to advance much as 1t did last
| week on immense buying and in a few
| minutes had gotten to l6S The grangerS
| generally and many other securities fol-
| lowed its lead, and the close was at the
| best prices of the day all over the list.
| Such a change of tone cannot but have
| good effect on sentiment. The market
| Continues dull for DAYS, but 1t does not
| go of, showing always great firmnt SIS.
| Then suddenly under heavy buying that
| has every appearance 5f coming from in
side sources there is sharp advance. A
| great many people very naturally ask the
| question If this does not indicate strength
! more than weakness in the underlying
| situation This movement has been re
| peated two or three times recently. AS
| get ii hos caused very little buying by
the investment public, but 1t has at least
made the public more favorable. and its
tangible results may be seen later when
the insiders begin to advance prices in an
important way, if this is their plan.
The developments Of the day were really
very unimportant and almost entirely un-
interesting. Nothing fresh concerning the
Northern Pacific matter was learned. aud
the Copper situation had no new features.
A better feeling regarding the financial
outlook vas noted. The banks have
gained from the Sub-Treasury this week
through gold receipts from Australia and
other sources. somewhat over million
dollars. 1t is probable that the bank
statement viii be a good one this week
and there is now very little probability
that the money market will cause any
further uneasiness this year. The de-
mand from the West and South for NOV
ing the crops is virtually over and
small advance In the exchange would
cause return to New York.
Among the tangible rumors was one
that the Lake Shore is to distribute an
extra cash dividend This story is in
r1A nd &c plaa la.
that something of the kind will occur.
New York Central was one of the strong
features Of the market. especially in the
morning hours, when the general market
was rather weak 1t advanced then to
15S, and, although it did not get any
higher later, held its own well all day.
Another story was to the effect that
the Jersey Central is to have an extra
dividend, or a larger regular dividend.
This stock was strong. and Reading. al
though very duh. was strong also AZ its
best recent level. The anthracite coal
securities generally have been firm recent
", and there are many careful people that
look for better level for them all during
the coming six months. The anthracite
coal trade is in fine condition.
The Northern Pacific situation Is still
ursolved by She public and the financial
writers, although the number of theories
Is big. The two parties in the market
argue as TO the outlook according to their
position, the bears saying that very evil
dCntiy the Morgan-Flill coterie and the
Union Pacific party are at odds and on
suggesting that everything points 10 a
peaceable settlement OF the situation. 1t
seems hardly possible that these big Peo-
pie can be contemplating another fight |
after Witnessing the result of that of last |
May, and for this reason the con-
servatye people generally are hopeful |
Union Pacific. st. Paul, and Northwest |
were among the strongest stocks on the |
list yesterday. being even buOyant at |
times. St Paul jumped up to 16S at the |
close. as has been said. Blocks Of thou |
sands of shares of the stock changed |
hands on the advance, and IL was said |
that large interests were the buyers
Northwest advanced earlier in the day |
sharply. but little stock changed hands. |
Union Pacific doomed up to above par at |
the close. The fact that all these securi- |
ties were strong made the street wonder |
If the st. Paul-Uniou Pacific deal NAV |
not be under way after all, as a part of |
the general settlement of affairs in the |
Northwest.
The annual statement of the Great |
Northern issued yesterday was a rather |
poor one, showing a considerable decrease |
in net earnings and in surplus after fixed |
charges. The decrease Is attributed to the |
partial failure of the wheat crop in the |
Great Northern territory last year The |
wheat crop this year is immense and It |
Is said that the earnings of the com
this year over last. The Northern Pa
cifc earnings. too, continue handsome |
Tha gross earnings for the second week !
Of October show an increas Sc of $lT5 O0O
Peoples Gas was again strong yester- !
day. II IS said that the litigation against |
the company to test the legality Of its |
charter viii be dropped or rather lost |
by the pardes bringing the suit The !
earnings Of the company continue ex- |
cellent.
The tip" to buy Sugar is again heard. |
and 1t Is repeated with mach persistence |
and assurance.
The Copper situation is stll entirely |
mysterious. The Anal lgama ted howe YER
has won some of its suits. The stock |
went off yesterday morning, but recov-
cred to above 80 at the end of the ses-