The Washington times., 1901-12-22

fur her. II is not believed however, that
there will be any movement of Importance
before the beginning Of the new year.
kmnigamatcd Copper.
The street is chiefly interested in ANAL
gamated Copper at preseut from the
standpoint of hoping that it will cease to
be interesting. And there are indications
that this wish will be gratifed. The stock
was dull and unexciting TO a degree yes
terduy, with small fluctuations and com
paratively Insignificant total of transac-
tions. II is probable that there was less
business in it than at any time before in
the past month.
No new developments are discussed A
report circulated early in the day that the
United Metals Selling Company had re-
duced the price of the metal again was de-
MED The price is still 13 cents a pound.
II is not thought to be in the least unlike
ly that the cut to II cents will be made.
however.
Sugar Breaks Badly.
Sugar ha. become active for the first
time in recent months, and coming as II
does at the opening of Congress the re-
newcd manipulation in the stock attracts
much attention. This time the people
making the movement have seen fit to
cause a break and for several days the
price has been going of. Yesterday the
decline became tumble and the price
went off TO ll5 and fraction. the lowest
since October.
number of theories are advanced TO
account for the weakness shown by it.
The bee. sugar markets In Europe are in
a bad way, with prices of to the lowest
level in years. if not the record level. The
beet sugar market is glutted and the new
crop of beets is enormous.
This. OF course. might be expected to
have some influence on the American mar
kct but not much. At any rate, the
American DiaTket is demoralzed too. II
appearances count for anything. The price
of refined sugar has been cut several
times and is now lower than IL has been
before since the sugar tariff was in
creased II should be noted. however. that
the price OF raw sugar is also down and
that the margin of profit is nearly If not
quite as large now as 1t was when both
raw and refined were higher
1t is argued by some people in the
trade that despite appearances the sugar
business is really satisfactory. The BE-
reau of Statistics seems to corroborate
this with its statistics showing that tho
amount OF sugar imported this year is the
largest on record.
Entirely aside from the trade situation
is the theory that the sugar people them
selves may be operating in The stock with
a view 20 prevent adverse action by Con
gress against the company when the trust
question comes up for discussion. The
Trust has another matter before Congress
also. the question OF the Cuban sugar
tariff.
Car and Locomotive Building.
The Railway Gazette" reports that re-
cent orders for cars received by the |
American Car and Foundry Company have |
been beyond all previous records. Late |
orders have been for 10000 cars. The |
American Locomotive Company also is
doing an immense business, aud would do |
more If 1t had larger plant. The Sc
curities of both these concerns, but es- |
pecially of the first. are commended by |
people as Offering semi |
speculative investments OF promise.
The GrapRers Strong
St. Paul the Atchisons. and Rock Island
have all been strong during the past |
week The St Paul report for the sec
ond week OF December, and the statement |
Of Vice President Morton that the earn
lngs this year will exceed those OF last
year. are two of the good things that
have helped TO induce buying in the
Granger group.
st. Paul could earn 20 per cent less
than IL is earning at present and still
have a good surplus over its present divi-
lend rate. The Atchison is even better
of in this respect
There has been investment buying In
all of these securities, but it is also eyi-
lent that the bull ciiques that operated In
them a few weeks ago are beginning to
buy again. 1t was said yesterday that
here was good Standard Oil buying in
81. Paul The Berwind purchases cf the
Atchisons continue.