The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-02

he probability that the War Revenue Re
iuction bill will become a law. Another
is the continuance of the wonderful ran
.ay earnings. The January statements
80 far have been better than ever before,
Ill showing handsome increases in net
-arnnSs. The bank statement tomorrow
may show loss in reserve, as apparently
The cash viii be smaller than last week
This is having no bearish effect, however,
as money continues very easy.
There was Iittle sCecial market news
aside fTGin tho earnings reports. The
announcement that the ST. Paul Company
will issue 10 per cent of new stock to
stockholders at par. equal to n per cent
dividend, is a bulitsh argument. After
an opening decline st. PAU showed
strength, and 1t seems not unlikely that
IT may get to 100 on this move. Burling-
ton went off at the opening, also, reach
.ng as low a price as 14Si4, but later II
recovered to frS and seemed well support
ed. The Atchlsons went point or more
above the low prices of Thursday and
closed near ,ne top.
Sugar again advanced to above 143 and
although il went off somewhat later.
there seemed to he good support in ii.
The talk of an increase in the dividend
rate is Stl-I hCaru in the street, as is also
the ruznor that the famous settlement
is to be announced as soon as Congress
has adjourned. Careful people advise
buying the stock even after its recent
advance.
There is a tip to buy the San Francisco
issues, but they were not particularly
strong yesterday. Other Southwestern
stocks generally were active and buoyant
The steel stocks tended toward higher
level all day yesterday after opening at
the lowest prices of the movement. Tho
syndicate has large amount of stock to
market, and leaving out of the question
entirely the intrinsic value of these Sc
curities 1t seems very nearly certain that
there Will be boom in them or IN the
new stocks before very long. 1t Is eX-
tremely difficult to sell stock to the public
on a declining market. The plan has al
ways been in the past to make boom
for such a purpose. In this connection 1t
may not be amiss to suggest that the
great strength of Sugar ana AmalSamated
Copper during the past few days is a
thing worth considering. Next to the
proposed Steel Trust the Sugar Trust and
the Copper Trust are the very largest
whose shares are traded in on the New
York Stock Exchange. They are kings of
the trusts, in the same class. 1t is not in
the least unlikely that the coterie behind
all these companies may be putting up
Sugar and Copper for the express purpose
of helping to f1oat the new steel company.
People who copper stocks booming
are not so likely to be afraid of a kindred
project. Mr.. Morgan has probably sug-
gested this to the people that have the
market movements of the different stocks
in their care. 1t is fortunate that there
are bullish arguments regarding both Su-
gar and Copper ready for use, but of
course such arguments could have been
created if they had not existed.
Western Union gained nearly a point
Yesterday and closed at the top price for
the day. An advance to above the pre-
vious high level is not unlikely, it is said,
by people close to the management of the
company.
There is excellent buying in Union Pa
cific common stock. 1t is probably true,
as has been limited, that the Gates people
have sold out their heavy holdings of this
stock, and II is not impossible that they
have gone short of il. The fact that with
such selling as occurred in 1t yesterday
and Thursday the price only went off
point net is excellent evidence that the
buying is even better than the Gates SELL
ing. The stock since its extreme top
price was reached has reacted ten points
N gnod market would be very
likely to have a sharp advance. The
T. -..4b.s me company are increasing
steadily. They show something Ike 20
pc. cent on this common stock.
The Southern securities We're both very
strong yesterday, advancing to the high
est prices in their history again The
preferred went to rs IS, and closed at
IS 3-S and the common went to % and
closed at that price. There is much talk
Of further absorption of railways by the
Southern soon TO be announced, and leo
pie close to the mana cement are known
TO be very bullish on both the preferred
and common issues.
The Erie securities are said to be sched-
uled for another advance.
The net earnings of the Louisville and
Nashville for January increased $50 440
The net earnings of the Chesapeake and
Ohio increased s7s. 645. Chesapeake and
Ohio was especially strong yesterday
There is excellent investment buying in
this stock. and in Norfolk and Western
on the good prospects of the two systems