The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-25

| this fact as the banks have gained in
cash both from the interior and the Sub
| Treasury. Money loaned on call freely al
| per cent and the financial situation is
considered extremely satisfactory. De-
mails of various deal stories, among
| them the Great Northern st. Paul talk.
| had rather depressing effect on the
market, though there was nothing new in
| the denials. Various rumors that caused
| bearishness and short selling were proven
| to be untrue among them story that Mr..
| Keene was dangerously i'll. In this par
| ticular instance the fact was that this
| gentleman was very much better and
| practically recovered from a mild attack
| of the grip.
St Paul had a downward tendency all
day reaching as low as 146 IA. and clos
| ing at 147. more than three points off.
| The best authenticated story regarding
| the Northwestern situation yet given out
| is to the effect that Mr.. Hill has made
| two offers to the st. Paul people, Aeither
of which has been accepted. The state
| ment is that his first offer was to lease
the system with a guarantee of per cent
for the common stock. and that the sec
ond was somewhat better than this,
| though il is not understood that it was
| 7 per cent straight What the outcome CT
| the negotiations will be is not yet clear,
except that there can be no doubt of some
satisfactory arrangement. The interests
concerned are all anxious for harmony nd
are so powerful that they can force sue
cess where in a smaller deal the nego
tiations might come TO naught The stock
may go SOMEWHAT lower on manipulation
but it is extremely unlikely that it will
get below the low prices of Monday and
Tuesday. 1t is considered a good pur
chase on the declines, by some of the
most conservative m rkpt DpOple
The other granger securities all went
off in sympathy with st. Paul, AtchisOn
preferred being the strongest in resisting
the pressure. This latter stock is con-
sidered especially attractive by many
shrewd investors, the 5 per cent dividend
being assured by earnings equal to more
than 10 per cent on the stock.
The steel securities were a disappoint-
ment TO the street, showing weakness
| where marked strength had been looked
for The close of the group on Wednes-
day was considered especially promising.
and many looked for boom yesterday.
The top prices of the day were those at
the opening, which was fairly strong.
There was almost a steady decline from
the opening level to the close. Federal
Steel common went off to A IA, and Wire
common to 80 3-S. Tennessee Coal and
Iron was the strong feature of the group,
with a decline only to sc Ia, and close
at sc rs. There was nothing new regard
ing the steel situation, and nothing which
could form a legitimate basis for bear
ishness regarding these securities. The
trade is in better shape than al any time
before for many months, as Mr.. Gates
says.
Tennessee Coal and Iron was bought by
some people because of story that
quicksilver mine has been discovered on
the company's property.
There is a more hopeful feeling among
the friends of the Hanna Subsidy bill in
the Senate. Some careful people say that
the chances of the bill passing the Senate
are excellent. Rejecting this outlook
there was some good buying OF Pacific
Mail from Washington yesterday. and the
stock sold at 43. the highest recent price.
There is q probability that ii may be adj
vanced few points during the coming
two months.
The meeting of the Brooklyn Rapid
Transit people will take place today. Two
or three rumors are afoat in the street
as TO what will be done at the meeting.
The popular theory recently has been
that the Metropolitan people would be
found to be in control, and that they
would elect representatives on the board
of directors. Yesterday this story was
denied in a very positive fashion, but it
is not yet given up. Another story is that
the Pennsylvania VIII elect representa-
tives on the directorate. The traction Sc
curities were weak yesterday Brooklyn
especially making a big decline for the
day. 1t opened at 70 "a and went of to
70 "a. closing at rs 12. Manhattan went
off from 116 20 113 S-s, and closed near
the bottom. II is probable that both
these securities purchased at the low
prices today will show handsome profits
in the near future.