The times., 1901-06-21
Government Bonds,

Government Bonds
Bid Asked
| U. s 2's, R. 1eOo-sO. Q. J......... I6n io7H
U. s 2s, c. I9G1-S0. Q. J........ I)7 I0s
L. s. SIS. R, 1905 Q. F...-....... lOSsf 1898
U. S S's R. 1908, r. c. F....... 10sA lO9H
U. S. as. 1905. Q. J.......---.... n=h li3H
u. S. As 1907. Q. J............... ii5lS 114H
| Y. 5. IS, r, I925........,........ l5Ss 1894
L. $ As c, l925..................i 1854 l39z
| U. $. SIS, R. 1904. I0s1 1924
| L. 5. SIS, c. l9c4, Q. F............ lpS4 I0gh
The professionals again had control of
| the stock market yesterday. Business was
very dull all day and prices fiuctuated
llstlessly over a smah range. SaSging a
triiie as net movement, perhaps but
not enough to be indicative of anything
except lack OF interest The course of
the day was an opening a little better
than the close of the night before, a
decline during the first hour, ard finally
a rally OF no Importance. 1t could not
be seen that there was much If any, sell
| ing of long stock. The professionals man.
ipulated prices backward and forward,
sparring for fractional profits only. The
news of the day was unimportant The
gossip as far as 1t Went was of the bank
statement tomorrow and the money out
look. II was the opinion of one of the
best posted houses at the close last night
that the banks ETould show a loss OF mon
ey for the week. but that the loans would
decrease sufficiently to offset this loss
in large measure. This suggests that the
statement will be unimportant. but not so
bad as that of the two preceding ones,
ana therefore relatively good. The money
outlook Is not one TO cause much anx-
iety TO conservative people. There may
be some little tightness between now and
July /, owing to the calling OF loans by
the banks in preparation for the large
July disbursements but after July this
should give way to easy conditions again.
There was a shipment Of somewhat less
than sl,5e0,000 in gold yesterday. The in
dications are that this viii be the last
of the movement and on the other hand
the gold from the Kiondike will begin
to come in rapidly in the near future.
The market outlook is not an encourag-
ing one for those that have been looking
for boom during the summer. Business
has dropped OFF almost to the midsummer
level already, and by July, with many
more people out of town, ii is not likely
that there can be much activity or much
incentive for the insiders to attempt to
float their securities. A professional mar
ket is all that should be looked Tor. some
thing else may develop, of course. but
there are no indications of it now.
The specialties were the most interest
ing securities on the list. Movements
of Importance occurred in several Of them.
Such manipulated gains and declines,
however are OF no moment, as far as the
general market is concerned, except that
they emphasize in another way the dead
ness Of legitimate business. Amalgam3ted
Copper was weak in the morning, selling
of to 12@i on the story that the merger
Of the two Boston companies has been
completed. Later it advanced sharply
point or two 10 I25 at the close The net
movement of the session was a loss, how
ever. The cause Of the better tone in the
afternoon was the announcement that the
dividend has been increased The regular
rate of Ia for the quarter was declared
and in addition an extra Of p per cent,
making in all % or at the rate OF per
cent per annum. There had been hints of
the intention Of the company TO make
the increase. Some Of them had spoken
of 10 per cent rate. 1t seems probable
that the price Of the stock viii work
higher. II is not a good one 10 speculate
in. however, as it is rankly manipulated.
MINNEAPOLIS and St. Louis was strong
at times on the lease gossip. Iowa Cen
tral was advanced when the other stock
doomed in sympathy with II.
The Wabash people had a meeting ye.-
terday a semi-annual dividend was de-
clared on the "A debenture bonds. The
stocks were not active and showed small
net declines for the day. The Gould Sc
curities in general were very dun. but
declined as the net result of the days
business. Missouri Pacific closed at lZOil.
Texas Pacific closed at 46%.
General Electric was boon ed handsome
ly to 263, and closed at the top quotation,
Is points above the opening. Nothing
new was heard regarding the affairs Of
the company, but it is known that it's
earnings are making a fine showing and
there is much bullish talk regarding the
outlook for the stock one of the promi-
nent brokers yesterday hazarded the opin-
ion that the stock viii sell at $500 share.
Al the annual meeting Of the Amer
lean Car and Foundry Company yeSter
day the number Of directors was reduced
from twenty to seventeen, and four new
directors were elected At the present
time the amount of working capital stands
at between ten and eleven millions. and
1t Is said that the company wishes TO
increase this amount to S12, 900, 600 before
paying out any larger dividends. AS the
amount is growing rapidly there Is a very
fair chance that the dividend on the com
mon stock may be increased before the
end of the present year to 3 or per cent
An order for 600 cars. chiefly freight, has
lust been filed for a railway i'm Spain
and other orders are in hand for systems
I'm France and South America. A new
American order amounts to $4,000. The
earnings Of tn company for the past
year were S4,Sl5,3 394; profit on sale Of pat
ents 800 go; total losses, renewals, re-
placements, repairs, new patterns, etc,
$6}3 926; net income, A,3M, 45S. The total
earnings for the fiscal wear previous were
$3.50. .000, or somewhat greater than those
for the past year. The showing of the
company, however, is an excellent one.
The result of the second fiscal year may
be summarized as fellows: After all de-
ductlons. 81, ,055 S2G; dividends on preferred
and common. S2.6i9.525; surplus, $l,316,30l,
equal 10 ~ per cent on the common stock
ST. Paul and Union Pacific were strong
in the morning. in sympathy with London
buoyancy, perhaps buJ later In the day
they both sagged off 10 the lowest prices
ST. Paul closed at i7sis, and Union Pa
cific at III. The deal story has lost it's
charm, apparently. Now people who may,
and may not. have any real information
are saying that these securities will be
advanced because both are to be put on
a higher dividend basis, the St Paul
per cent and the Union Pacific 5 per cent.
Neither stock looks particularly attrac-
tive.
There are tips TO buy Illinois Central
People with good connections are also ad-
visng the purchase Of the st. Louis and
San Francisco securities.
The earnings of the Norfolk and West
ern for the second week of June show an
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