The Washington times., 1901-09-27

| Govel pment Bonds.
Bid Asked
& Us e : ,ses-s ,sss s. 8 8 il: il: ls ,HsH ,s, ,os
| u. S. s's. Z. 1903 }. F.......... Iosh 10ss
| u. S. s's. r. las. T. C.......... losk lss
| u. S. Is. 1ef. Q. J............--- 1i2H ii2ss
| U. S. As. 1s7, Q. J............... lIa4 lI3k
| U. S. as. b. 1925. 1917 l4On
| U. S. As c. 1s25...... 1924 l40h
L. S. 5's r, l9A................ lUS l09
L. SIS C. l9o4. O. F..-........ los io9
Under the impulse of good buying in
| number of the important issues there
was good recovery in the stock market
yesterday afternoon, and at the close the
entire list showed net gains ranging from
n fraction to three or four points. There
was no reason in the news of the session
for the change in the market. and it must
be inferred that II was simply techni-
cal matter much in the same way that
the break of earlier in the week was.
Such a market should be looked for as
long as the two parties amoEg the pro-
fessionals are both so strong, and as
long as the insiders dc not care to exert
any very strong influence toward an ad-
vance. If a traders market continues for
a month or more longer with no very i'm
portant movement in either direction
there should be no surprise. After that
time the monetary situation will he easy
again, and without any artificial aid. too,
ana the large interests will be back In
the street. If legitimate conditions are
then favorable a bull movement of i'm
portance will be seen without doubt. If
something untoward occurs the move
ment may fail to appear and the pessi
mists of the past three or four months
may be proven to have been correct in
their surmise that the end of the boom
has come and gone. Up TO the present
time there has been nothing that has
changed the belief of conservative peo-
pie that the country is still prosperous
and that the logical direction of prices
! should be toward higher level. These
DeODip mi nj ha
reactions.
The feature of the afternoon recovery
was Amalgamated Copper perhaps. 1t
was bought in very large blocks and ad-
yanced to 90, between 4 and 5 points. 1t
closed practically at the top price. 1t is
true that there was heavy covering of
shorts during the afternoon but this will
not explain the entire advance, and many
careful people believe that the bottom
price has been reached, and that the tend
ency Will be upward now. A party has
now come forward to say that the Copper
situation is not wholly black. Many peo-
pie have suspected something of the kind
They have believed it hardly possible that
the entire business and outlook could
change color absolutely within week
from the rosiest of prosperity to the
blackest of depression. Jesse Lewisohn
is quoted as saying that stocks of cop
per in the hands of foreign dealers were
never smaller than at present, and that
foreign buying movement of considerable
dimensions must start in the near future.
A prominent officer of the Metals Selling
Company says: Il am positive that the
price of copper will not decline below II
cents this year. and probably not during
1902. do not hesitate to say that our
company is carrying large supply of
copper but deny that the supply Is ex-
cessive, and IL would not be so considered
by anyone If II were distributed among
all the producers or held in store by the
consumers instead of held by one COM
pany, which happens to be the selling
agent of a great many producers" I'm
doubtediy the copper business is not in
the best possible shape. but at the same
time the outlook is fair one. and It may
improve II general business conditions
continue favorable. The break in the Cop
per stocks has been a smash and 1t has
conservative people. The stock is not a
good one to speculate in, but the fact that
1t is likely TO be stronger will be a bull
factor in the general market.
St Paul, Missouri Pacific, and other Sc
curities supposed to be dominated by
the Goulds and the Standard Oil people
were also strong yesterday afternoon. II
any other than a technical reason for this
is desired, 1t may probably be found in
the fact that there is general denial
of the story that there is fight in the
Billionaire Trust. Even the kernel of
this story, the simple statement that the
Pennsylvania and the Goulds have dis
agreed over the Wabash extension into
Pittsburg, is true only in a limited way.
If the best information can be relied on.
Mr.. Cassatt and Mr.. Gould have been
negotiating over the matter, but their
relations are still on the most friendly
basis and IT seems entirely probable that
they will continue so. The plans for the
extension of the Wabash east are being
pushed rapidly. 1t is said that the con-
tract has been let this week for the forty
miles of line between Pittsburg and the
point where the line crosses the Ohio
River going north. Other contracts have
been let also. These matters indicate in
a most convincing way that Mr. Gould
means business. Whether he will sell
out the eastern portion of the line when
completed and keep the Western line for
the Missouri Pacific, or whether he will
allow the Pennsylvania to acquire an In
terest in the entire system that will give
him a voice in its affairs. or whether
some other amicable plan viii finally be
settled on for the disposition of the mat
ter can only be surmised as yet, but con-
servative people are very firmly of the
opinion that there will be no big railway
fight over it. A fight at this time would
be suicidal to all concerned.
Railway earnings continue excellent.
Earnings statements for July from 122
lines show gross s10l .9s7. 900. an increase of
s11, ,4s3 900. end net S3i, ,556. coo, an increase
of s7II,00J, or 26.05 per cent. For the
second week of September the gross earn
ings of ffty-seven lines were $11 600, 600
an Increase of 81 .15s. coo. or lila per cent.
tant lines have reported their gross earn
ings for the third week of September and
ali show good increases. 1t is under
stood that the Atchison net earnings
statement for August Will be published
in n few days and that It will be the best
ever made by the company by many thou
sands of dollars. The other granger state
ments for the month will also be excel
lent.
It is said that there is little prospect OF
a dividend for the Tennessee Coal and
Iron stock this year. Large improvements
and extensions are to be made, and al
though bonds are being sold for this pur-
! pose surplus earnings also will be util-
lied in the same way.
The anthracite coal securities are very
dull but during the recent break they
went off as little as any stocks on the
list The outlook for these issues is con-
sdered very good. Coal rates are at the
| top and win continue so during the entire
| winter AS n result II is believed that
the Reading company especially will show
| the best earnings on record.
The wnshingto Stock Market.
! Sales-U. S. Electric Light, certificate:
| 81 O0oq105N: Washington Loan and Trust
| Co: l0aI1i; Capital Traction: 30G103x
Washington Gas: b462; Lenston Mono
type: l00ql2A-buyer 80. 2o0q12A; Ameri-