The Washington times., 1901-12-20

many a month. Sugar in it's palmiest
days was dead one, TO quote one of the
brokers.
Copper Dividend 1 Per Cent.
The third excitement in Copner was
over the dividend to be declared by the
directors at some time during the day. no
one knew when, but it was generally sur
missed after the market should close. Ru-
mors kept the wires hot all day, and they
ranged all the way from the statement
that there would be no dividend TO the an
nouncement that 6 per cent rate would
be continued. Between the two extremes
ii was said that the rate would be 2 per
cent annually, that 1t would be per cent
annually and that il would be per cent,
part scrip and part cash. or all scrip. As
matter OF fact. no one outside the inner
Copper circle knew anything about what
would be done.
MIR. Rodgers Delayed the Meeting
Mr. H. H Rodgers was forced unexpect-
edly to take an automobile ride with his
best girl, T. was rumored. and the country
was Kept waiting for the announcement
of The rate until his return from Brook
lyn after-the market closed. 4 very few
minutes after il became impossible to do
any more trading in Amalgamated the Of
fetal announcement was made that the
rate had been fixed at ! per cent Tor the
quarter, or on the basis of per cent an
nually.
The criticism of the management of the
company and of the management of the
stock in the exchange was vivid and caus-
tic on all sides yesterday, but il is not
likely that it will result in any action
locking to the punishment of the Offend
ers. who are too important in the fnan-
cial world to be subject TO anything more
than verbal and unofficial censure.
The Future sti1 "A Mystery.
Although the dividend mystery has been
cleared up. it is very certain that the
street knows not even little more than
it did yesterday morning what Amalga-
mated stock will do in the future. Some
people pretend to the belief that the bot
tom price has been reached on the stock,
and that it viii gradually advance from
its present level. now that il is known
that the company is still able TO pay
dividend.
1t is of course needless to say that the
stock Of any ordinary corporation selling
around so would have a sharp recovery
on the decision to pay a 4 per cent divi-
dend. Some of the 4 per cent railway
securities are selling at double that level.
The pessimists on Amalgamated. and they
are many, express the belief that II may
yet sell at 40 or 80 and that the com
pany very likely is not earning even 4 (
per cent dividend.
Copper and Standard Oil.
Recent extreme weakness in Standard
Oil is connected in the street with the
Copper mystery. The people that believe
the Standard Oil people have been beaten
in their Copper deal take the view that
the Rothsohilds are fighting them also in
the oil field on the other hand, the +,
people that accuse the Standard Oil in
terests OF playing gigantic game in Cop
per for the purpose of obtaining more |
complete control of the situation and
freezing out not only the public but the |
large independent interests, hold to the |
opinion that the same game is going on
in oil. and that the Rockefeller interests |
are playing the two at the same time in |
order TO make them more effective and |
more easy 10 manage. Those that take |
the latter view have some doubt as TO the
position of the European copper and oil /
interests.
The price Of oil has dropped 3 cents 2
gallon. which is quite as bad as the drop
in the price of copper. At the same time |
the price of Standard Oil stock has |
tumblcd from the highest price in its |
history to the lowest price of the present |
year, with one exception, il the same way |
that Amalgamated has.
Investment Buying Noted.
The general market yesterday was ex-
tremely unirteresting. business being dull |
and fluctuations small and Of no signif- |
cance. a fairly strong tone was mani |
Tested throughout the day, however, and it
seemed not improbable that after the |
Amalsamated dividend announcement had |
been made there might be a stronger mar |
ket and more business.
Call money loans were made at 5Iz- and |
6 per cent. and the uneasiness over the |
monetary situation seems to have sub |
sided largely. The bank statement to- |
morrow will be awaited with interest. |
necessarily. but as IL is not likely to /
make a very bad showing there is no rea- |
son to believe that 1t win have any large |
effect on the market. Some investment |
buying is noted
ConI Price Advance Rumored.
The anthracite coal securities were in |
demand at times. and although they did |
not retain all of their early gains. their |
tone was firm until the lose. There is
talk OF the probability o. an advance in |
the price of coal in January, which is
pleasant to the holders OF anthracite se- |
curities. II not to the average consumer Of |
81 coal.
The Erie securities we're helped by the |
rumor that the full 4 per cent dividend |
rate will be declared on the first prefer
rcd at the January meeting of the direc-
tors of the company. The earnings Of the |
company show large excess over such a |
dividend rate. |
Boom in Peoples Gas.
Peoples Gas of Chicago was especially |
strcng with an advance from 90 and a
fraction TO 1Ol5s. and it closed near the |
top price A Chicago director of the |
company was quoted as saying tha: there
is entirely too much uneasiness in the |
public mind regarding the effect of the |
pending suits against the company. He |
said that the earnings are inci casing all |
the time and that the dividend is much |
more than earned and will not he cut.
Cotton Oil Companies May Combine.
Recent activity in American Cotton Oil |
securities is explained by the statement |
that the business OF the company has been |
exceptionally good. The rumor that there
is TO be 4 combination between this com |
pany and others engaged in the same busi- |
ness is heard, but II may be stated that as |
yet nothing OF importance has beea done |
toward such consolidation.
Earnings of Southern Railways.
The earnings OF the Southern Railway |