The Washington times., 1901-11-27
Government Bonds.


affecting the stock market yesterday af-
ternoon was perhaps the announcement of
the Atchison net earnings statement for
October showing an excellent increase
over October OF last year. The net for
the month was nearly two and half
millions, or 10 be exact, s., 4C7 ,695. This
is an increase of S166,2
The increase in net earnings for the
first third of the fiscal year is more than
Sl,S0O Geo, and if the same ratio of increase
could be kept up during the balance Of the
year it would be well in excess Of $780,
OCO, or say per cent on the common
stock. The company earned nearly I
per cent on the common stock last year
and at the present rate of increase it
would earn y per cent for the stock this
year.
This is not to he looked for, of course
because Of the corn crop shortage, which
has tended to make business up to this
time more than usually heavy. and must
be expected to have a bad effect during
the remaining months. But allowing for
this, and giving it its full weight the
showing Of the company will be acknowl-
edged 10 be especially gratifying. There
IS no way in which it can be construed
into an argument that the prosperity of
the country is waning. Friends of the
Atchison predict that while from now on
there may not be any very large increases
in earnings. the increase in general busi-
ness viii be sufficient to Offset the corn
freight shortage and in view of the show
ing up to this time, this does not seem
very far-fetched prediction.
Support of the Railway List.
The stock market yesterday was not re-
markable in any way. Prices generally
held their own sturdiIy in spite of an
early attack on Amaigamated Copper that
carried its price to the lowest level on
record. The street is inclined to draw the
conclusion from the persistence of the
strength in the railway list that the large
interests are supporting the market de-
teIminedly. and do not intend to allow the
attack on Copper 10 cause any general
break, r.Ht.
II was noticeable that while the Wander
bits coaleTs. and other railway securi-
ties held their own during the selling of
Copper. they began to advance sharply
every time that the pressure on the trust
stock was removed.
Easier Money Rates.
The news and gossip outside Of Cop
per was not important Mon.g was easy,
and call loan rates are a shade lower than
they have been at any time before this
month. While there was a tendency to ad-
vance in the sterling exchange rate, # is
not yet near the gold exporting price,
and the financial experts say that there
are not likely to be any exported this
week. II is argued from this that the
bank statement this week is likely to be
a good one. There was a gain in cash
in gold. Railway earnings for the third
week of November are beginning to come
IN, and they nearly all show increases.
The Copper rUmors yesterday were
numerous and interesting. if not partic-
ularly convincing or important. The
stock went OFF at the opening on the story
that the Department of Justice after all
is really gathering data for proceedings
against the company A little later 1t
went off because the Copper Company was
TO contemplate reduction in the
price Of copper which would defeat any
Federal interference.
The fact that these stories. nearly op-
posite in their significance, should have
the same effect on the stocP might be
considered by some TO be an evidence
that the sellers of the stock wish TO
have it decline. with or without reason.
Another story was that the l5O, 900 shares
of Amalgamated, supposed by some i'm
aginatiye people to be held by Mr. Law
sch. OF Boston, are being "gunned" for
by the bears. Still another tale was
that the Marcus Daily holdings are being
liquidated. The stock went of TO rs,
the lowest price on record and then ad-
vanced TO 50 at the close, thus showing
no net movement for the day. The lat
est suggestion regarding the attitude of
the Department of Justice is that Mr..
Heinze the litigious may be behind
the Department.