The Washington times., 1901-11-01

I
| advantage of the railways of the entire
| West. The copper outlook has assumed
| much more satisfactory phase as far
| as can be learned and while the output
| Of copper may be restricted for a time,
| there is now no prospect that it Will be
| necessary to cut the price of the metal.
| The railway earnings for September were
| much larger than for September a year
| ago. as is shown by the statements of the
| companies now being received. The mon
| etary outlook is still in doubt, but fortu-
| natcly this is only a temporary matter
| that will not influence the market later
| in the year.
Further gold shipments are now prob
| able. the situation having developed IN
an unsatisfactory manner since Nednes-
| day. The Bank Of England, by adNatlc,
| ing its discount rate to per cent causeg
| some surprise, as the general opllloll ii ni,1
! been that only u per cent advance would
| be made This seems TO indicate that lhe
| situation i'm England and on the Continent
| is worse than has been reported. StefhhS
! exchange is more favorable 10 eA-
ports than 1t was two days ago. some
! predictions are that nj least SlV,WpVJg VIII
| be exported during the early part OF NO
| vember, but this is probably an over
| estimate.
Mr.. Hill is reported as saying that the
Northern Pacific matter VIII De settieu
in matter satisfactory 10 all parties, pc,
yond "A doubt. He is said to have added
to this statement the remark that the
situation is full of small matters that VIII
require time for adjustment, and that
| there is no reason to look for a settlement
Immediately. Other important people VINO
should know what they are talking aDout
| express much the same sentiments Ihls
| is evidently the situation at present d
| safe one on which to feel hopeful, surely.
| ii harmony can be established securely
| in the West, it will mean many mllhoIs
| Of dollars saved eVerE year to the ran
| WAYS. and will be for the benefit of the
public too to certain extent, as staple
| conditions always are. intrinsic Nadues N
| will be greater in sll railway secHrltgs
when the announcements Is oInclaiy ildue
| that there is to be no more hshuhS'
Senator Clark. one of the copper kings
also makes n statement. He believes that
n canTer outlook is excellent. that busi-
ness in this country is larger thls geaI al
than it was last, and that puSiIieSS sur Iin ~,
ITuronp will increase from now on. re
egvs that there will be no reductlon IN
the price of copper Another autlv'tIS t ~
not named is quoted as saying tudt m IN
future of the copper industiS Is as sur
as that of any other in the country; that
production cannot keep up with coIlsulilp-
lion for any length of time, ana thdt
very soon prices must advance instead CT
declining. The greater part of ooth these
statements seem to be well founded, anu
not in the least overdrawn. The copper
stocks declined yesterday, but the move
ment was a professional one entirely
The most interesting earnings state
mont yesterday was that OF tie mon nlol
Pacific. Gross earnings for the month
were $i.240.OC0 showing an increase oI
SlSjCC0. Net earnings were $Z,O:$oy'
showing an increase Of S226tse. 1t Will oe
noted that operating expenses were cut
while gross earnings showed a large IN
crease, so that the increase in net was
even larger. The statement for the hfSt
quarter of the fiscal year was quite "a
good gross earnings showing an Increase
Of S111. coo. and net earnings an increase ol
$1,000. People that consider the present
price of Union Pacific common alouIie .iIi..
par too high will do well to examine TINS
report carefully. and TO rememtsr u the
same time that the company - not as
vet receiving any revenue IRON ltS hIiu
ings of Southern Pacific. although that
company is piiing up handsome surplus
for ultimate distribution.
The recent weakness on Glucose com
mon stock has been based on the eXpec-
tation that at the meeting of the direc-
tors of the company today there VIII pe
a reduction of the usual dividend inns
seems certain. in view of the poor rerG9S
of the company, which showed -.-.dt the
dividend has not been earned by some
thing like $4,000. The hith price OF
corn is lad for the company, naturally.
The,e~ls a tip that the dividend on Cot
eoa OH common stock VIII ,;i,S,h De Gut 10 o,d
per cent this year. The dividend pald
last year was Siz per cent.
II is said that Tarimany has gotten out
of American Ice entirely, and il is sur
missed that this will not be bad Tor the
company. despite the reputation that
Tammany has Of being liberal 10 lts
friends 1T is said by officers Of the com
pany that the condition of the business
OF the concern will be given to its stock
holders hereafter In much more seher,
ous manner than heretofore. This Will
he distinct Improvement, and a com
mendable one
The People's Gas Company directors
will declare
dividend The business of the company
is most satisfactory, despite all rumors
mistic readings of .he recent report OF
the company. il is said that the earn
ings are much nearer 10 per cent on the
stock than they are 6. the present diyl,
dcnd rate. At the moment some careful
people are disposed to keep out Of Gas
on account of the recent decision OF the
Illinois Supreme Court regarding taxes
on State corporations
Manhattan was very strong yesterday,
and Brooklyn Rapid Transit was ad-
Vanced well in sympathy with 1t. Metro
politan continued to show weakness. The
upward movement in the first named
stock looked like the result OF nanipu-
lation Dure and simple. but there are
many market people that believe the
stock will get to a mich higher level in
the near future.
There are rumors that a close traffic
arrangement has been made between
Pennsylvania and Atchison. Pennsyl-
vania was helped by the story yesterday,
though Atchison was not conspicuous In
any way. The coalers generally were
firm,
II Is stated on the best of authority
that the steel pool has not been dis
solved. and that it is not likely to be at
present.
Washington stock Exchange.
Sales-U. s. coupon 3s. S3JJd10SI4. L.
s. registered As. s6jGN1lla4. Metropolitan
Railroad AS. sion. 02MI0i- Columbia Rail
road SIS 81. .50JIi05. Capital Traction, 10pf
10i4. Washington Gas, lGa63i2. Mergen-