The Washington times., 1901-11-21

sence of supporting orders from the i'm
portdnt people. There was rumor il
the street late in the day that another
| large amount of gold is likely to go ou
| either today or Saturday, despite the con
fident talk of the financial men that thi
export movement is about over. The stor!
could not be verified and is as likely Il
be untrue as not, but it served the pur-
pose Of the bears in preventing buying by
, the public. and perhaps in causing some
| selling. The character of the market was
much like that of earlier days Of the week
| with the fractions and coal stocks fea-
| lures A number of recently quiet stocks
were taken up. however, during the day.
The Jersey central Dividend.
The cheerful gossip of the day was
more interesting than the repetition OF
the talk Of gold shipments. One of the
rumors was that Jersey Central is to be
gwen an increased dividend in January.
1t is said that the earnings of the com
pany fully justify the increase and that
| it Will be in accord with the policy be-
lieved to be contemplated by the Reading
management. The stock was buoyant
| yesterday morning on the story, leading
| the coal group, which as whole was
| stronger than any other part of the list,
except the New York fractions. There is
| little floating stock in Jersey Central,
and the demand for It, though not partic-
ularly heavy, had an immediate effect on
| the prices.
A story regarding Reading was that the
company has secured control of Dehigh
| Valley and will absorb the company. 1t
was said that a new Reading per cent
bond Will be exchanged for Lehigh stock,
| which Will be taken at $40 share.
| The NEUTRALITY-SUSPICIOUS. Talk.
The somewhat remarkable advance in
| the fractions continued to new high lev
els but the group reacted during the af-
| ternoon. The gossip of holding COM
pany" to effect a virtual combination of
Manhattan and Metropolitan was persist
ed in. and while any deal of the kind
has been denied by officers of both com
panies the rumor finds some believers;
perhaps because the buying of both stocks
is so large and persistent that it is diff
cult TO explain it as simple manipulation.
One method of economizing that will be
practiced by the prospective combine. it
is said win be the furnishing Of power
by the Metropolitan to some of the Man
haitian lines.
Nebraska Also Against the Deal.
Governor Savage of Nebraska has
Joined the Governors of the Northwest
tier of States in making their demonstra-
tion against the Northern Securities Com
pany. The news from Nebraska is that
he has instructed his attorney general TO
proceed against the Union Pacific and the
Burlington to prevent their consolida-
ton" There is to be no consolidation Of
these two systems, however. Notwith-
standing rhe reassuring things that have
been said of the inability of the States
TO prevent the Northwest deal Union Pa
cific and St. Paul were the weakest fea-
lures Of the list yesterday afternoon both
going OF sharply, and recovering little
from the lowest prices
The objections to the deal are likely
to cause delay at any rate. They may,
for instance, prevent the retirement OF
the Northern Pacific preferred stock on
January / The possibilities along this
line, even although there is little fear
that the combination viii not go through,
very naturally cause some selling by
timid people Of the stocks most directly
affected.
". 4. Havemeycr on Free Sugar.
W. A. Hayemeyer is quoted as saying
that Congress is sure to remove the duty
on raw sugar within a year" He says
that this will result in 3-cent sugar
There was little squirt in Sugar stock
yesterday morning, but it went of later
with the general market.
The international Paper Company.
Good reports are heard OF the earnings
of the International Paper Company The
statement is made that the concern has
OF the other paper manufacturers have
been Obliged to Ehut down their plants
because their water supply has given out.
The company was fortunate also in secur-
ing a good supply OF wood-pulp some time
ago when the price WAS thirty per cent.
lower than it is at present
Missouri PaciBc's Earnings.
The attacks on Missouri Pacific are not
in by all The statisticians OF
the financial newspapers. 1t IS noted by
one authority, for instance, that although
the September earnings statement showed
a decrease in net compared with last year
the figures since the beginning of the year
show an increase Of s., coz, ,GOG. 1t is esti-
mated that after fixed charges the COM
pany is earning almost ten per cent. on
the stock at the present time. The Texas
Paclnc statements during the past month
or two have MT been particularly brill
liant either. TIE gross earnings for the
second week of November showed an in
crease of only $50. The Increase for the
year has been S2C00,OOO, however Much
stress is laid on the cheapness Of oil as a
fuel by the Southwestern lines generally.
The Southern Securities.
The Southern railway securities were
strong yesterday morning, showing activ-
ity for the first time in several days.
Louisville and Nashville was the best of
the group. and went up to new high
figure for this movement No new gossip
was heard regarding any of the lines, and
it Is reasonable to suppose that the fine
earnings shown from week to week are
the cause Of the strength OF their Sc
curities.
Peoples Gas Depressed.
Renewed talk of the heavy load that the
new taxes viii be on the Peoples Gas
Company seemed to be the cause of the
weakness shown by the stock of that
company There IS no reason TO consid-
er the selling Of the stock very import
ant, however
Washington stock Exchange.
. les-Metropolitan Railroad BIS: s.. 600