The times., 1901-05-18

at least S4,VOO,OOo is predicted. One Jain
alone is said to have added 70 Us surplus
reserve 81, ,OO0, coo. i is to pc siPposeS that
ih5 i'fsf esngsaSah gf q lshs I lnaidsnt H nj @ to th9
selling out of stocks during ana SINCE tne
break of last week. The bank reserve waa
getting very low, lower than was com
Portable. This promise of fine state
ment therefore is considered most I'M
S66rtSsntf 6uii argument.
Sugar stock was the feature yesterday,
as the story of the alleged settlement OF
the sugar war was the most interesting
item Of news of the day. The story cir
culated regarding the alleged settlement
Of the war was based on dispatches from
Toledo, Ohio. 1t was to the effect that
the American Sugar Trust and the Ar
buckles nave come to an agreement on
the community of interests plan, where
10y the sugar business of the country IN
the future viii be run as the sugar trust
may suggest, and the coffee business ac-
cording to the ideas of the Arbuckles- II
is not understood that there VIII pe any
merging of the two companies, put thaI
the Sugar Trust will fix the prices on
sugar and have large share of the bust
ness with the Arbuckles taking the same
position with reference to the coffee trade
Stories Of this nature have been clTcu-
lated many times before, and many peo-
ple have believed that such conu1tloh
of things has actually existed Tor soIne
time past. The present story may De the
real announcement OF tilnS ACCOM-
nlished some time ago or il may be an
other fiction of the Sugar Trust literary
bureau put out to help the stock mere
was q sharp upward movement IN sugar
from 1424s to 14Sla yesterday and the close
was at 14112, showing large net gam
The industrials and specialties generally
played a more important part in the mar
ket yesterday than they have at any time
recently Three or four special stories
were put out to account for the buoyancy
OF different stocks. The statement was
made that the city Of Chicago has agreed
to withdraw two pending suits against
the Peoples Gas Company and not at
ton of receiving city light free from the
company. Such an agreement would nave
to be ratified by the city council. REQ
pies Gas was doomed up from l942 10
l145s, and it closed at ia
There is more talk of a combination OF
companies outside the United states steer
Corporation. for the purpose OF entering
into effective competition with the billion
dollar trust. The statement yesterday was
that the Colorado Fuel and Iron company
will issue $6000.000 in bonds for the pur-
pose of making large needed improve
ments The Tennessee Coal ana iron
Company is to issue Sl5.OOO,OVU ot ne"
bonds for the same alleged purpose. The
stocks of both these companies were ad-
vanced well yesterday, Tennessee Coai
and Iron to 5S, and Colorado Fuel and
Iron to 94~i. The latter Went OF Polnl
or more from the top level, but stlH snow
ed a good net gain for the day.
Among the railway securities the Goulds
were perhaps the most consistently strong
all day Missouri Pacific advanced from
ggl6 to 1854 and closed at 1872. Missouri,
Kansas and Texas advanced from 55h TO
56s. and closed near the top. Wabash pre-
ferred advanced from 36k to 3Sl2 and
closed at the top price. one statement
made during the session was that the
Missouri Pacific directors will meet next
week early and declare a dividend either
in a lump sum of per cent or at the rate
of per cent per annum. It seems en-
tirely probable that there may be foun-
datiou for this rumor as the earnings Of
the company are good and promises of
a dividend have been made repeatedly by
insiders.
Burlington and the Erie securities were
all advanced handsomely during the day
and closed practically at the top prices.
Burlington went TO 1854 and closed al 1888
Erie common went to 315s. an advance
Of three points and the first preferred to
61Ia. both advances being held at the
close. The buoyancy OF these securities
may be traced without difficulty to the
prospect Of an early completion Of the
Northern Pacific-Creat Northern -Burling
Ton deal There is a persistent belief in
the street that the Erie is to be the east
ern end Of the Hill system
The regular per cent quarterly diYi-
dend has been declared on the common
stock of the American Graphophone
Company, payable June II to stockholders
of record June /.