The Washington times., 1901-12-31

thousands of shares almost, and they con
tinued to advance in price all day. an
during the afternoon were run up sharply
New high-price records we're made IN tn
group. the common reaching 5S. the firs
preferred S2Ts and the second preferre,
6lla. There was only small recessiS:
from the top prices. and the net gains fol
the day were much more important thar
those in any other part OF the list. The
high priced coslers were also advanced
well, but the Fries and Ontario and West
ern did not get into the upward swing oi
the group.
The Boom in the Coalcrs.
There is much gossip as 90 The meaning
of the boom in the coalers. The street
naturally looks for some other reason
than the very evident one of excellent
prosperity in the coal trade, though this
would seem to be sufficient in itself to ac-
count for much buoyancy in the stocks.
which have been held back for various
causes, from participating in the other
market advances of the past eighteen
months.
A favorite story is that the Vanderbilts
4 are buying the Reading securities and es-
/ pccially the common. one version Of this
story is that they wish 10 hurt the Penn
sylvania interests. There is certainly no
reason to look for war in this quarter.
though Ii is quite possible that the Van
derbits may be buying. Another rumor is
that the Goulds are buying into the COM
mon for the purpose of securing an outlet
for the Wabash 10 the seabOard
9ear-End FURRY i'm Money.
The general market was held in check
by little furry in the call loan rate, con-
sequent on the bank demand in connection
with final arrangements for the January
disbursements. The rate was marked up
to i per cent at one time. No fear is felt
that there viii be more than day or two
Of stringency and some OF the financial in
terests say that not even this should be
expected Al any rate, there is apparently
no cause for alarm over the outlook, IS
after next week the January dlsburse
menis will be very heavy.
Prices in the railway list generally held
their own fairly well, but niade no ad
yances worth noting. Baltimore and Ohio
advanced iractionally. New York Central
iuctuated within narrow limits ana closed
practically without net change The grang
ally at The close Missouri Pacific was
strong during the morning hours, but sold
of in the afternoon.
Little news was heard regarding any of
these securities The ST. Paul statement
for November shows an increase Of $685.
I31 in gross earnings and an increase OF
SIS. 900 In net. II was said tha; there was
good" selling in Union Pacific. and the
stock went Off point or so. No reason
for the weakness was assigned. and the
street authorities are unanimously the
opinion that the annual report OF the COM
pany is fine showing.
Copper and Sugar Gossip.
AmaIgamated Copper and American Su-
gar were the weak features OF the list,
both going of rather sharply during the
morning hours and recovering little II
anything from their lowest prices Sugar
closed at 1l6 l-3. three points OF from the
best price reached on Saturday, and Anal
gamated declined nearly as much Fur
thcr talk of the Heinze litigation is heard,
and IL Is said that the Anaconda mine
will be shut down TO prevent les being eI-
aminod under order Of the court.
Willett & Grays sugar paper says that
last weeks break in Sugar stock went too
far. The opinion is expressed that al
though the stock may be irregular in the
near future investors need have no alarm.
as it will sell much higher during the
coming year. The statement is made that
the company is earning large net profits,
despite all the talk Of The sugar war.
There were no new Developments in The
sugar trade during the day.
Manhnttnn's Electric Power.
carefully prepared article in the
Street Railway Journal" on the saving
20 be effected by the Manhattan Railway
by the substitution Of electricity for steam
as motive power contains much that
should Interest stockholders In that com
pany The article points OUT the parallel
between the Manhattan adoption Of cleo
tric pawer ana the same move on the part
Of gums Of the Chicago lines, which has
resulted In a very large saving CT oper-
ating expenses for them Tho prediction |
is made that before the end of 1902 the Z
Manhattan viii be in a position where IT (
can operate for s. zoo 900 less than its l
present rate. II this prediction is fulfilled 4
the company viii be able 10 show It trine |
more than : per cent earned on its stock. |
Central 10 Use Nnnbattan'S Tracks. |
People who should know something OF 1
the inside affairs OF the Manhattan say |
that arrangements are now being made
for extensive use of the Manhattan tracks
by the New York Central
1t seems quite probable that this is
true, but this Is all that h,uld be cx- !
pected of the story hoated some time ago I
hat the Central will lease the system for
per cent dividend on lis stock
Baying of Western union
Western Union was doomed ep = point
md held the larger part of its gain during
he afternoon decline in the general list.
4 was rumored IN the street that q pool
has been formed 10 advance the stock to
lsr on the outlook for The Government
purchase Of the company. but although
he pool may be fact. no very good evil
lence of It could b. discovered, careful
,eoplc said. The stock Is a favorite with
many investors on account OF its STEADY
per cent dividends. ard II is frequently
idvanced Few poini1 before the Jan
iary disbursements .f aticipation of the
nvesimen demand
Southern Pncinc's Annual Report
There IL much optimistic talk Of the
outlook for Southern Pacific stock In 10
commission houses The annual report in
iual form hes been published. The con,
,any earned about sl1 0c0. .00e surplus
fter interest payments sinking fund. and
axes, and this is more than 5h per
eni on the stock. II shows an increase 81
My $4,000. O00. OF this 81 900 000 was e.
ended In betterments. and after other
einor expenditures. the final surplus WAS
s.456a a6l. il Will be seen that the earn
lss OF the company are certainly all fhat