The Washington times., 1901-11-24

| tant distribution of Lake Shore surplus
most of which, of course, will go to the
Central.
The Pacific securities went off some
what in price after the announcement OF
the Northwestern deal, and they declined
again when Governor Van SAINT announced
! that he win fight the deal. They have
been recovering during the past two days
The important people generally express
the opinion that the deal VIII be carried
I through successfully, despite the opposi-
| tion of the State authorities. Every week
adds to the general information on the
| vast Importance of the combination as a
| favorable factor to the prosperity of the
/ railways.
Stocks That Fail to Advance.
The stocks that have failed to partici-
| pate in the advance of the market have
been the industrials, and for the most
part these securities have held their own
or little better. The United States
Steels have been strong enough, though
not buoyant. There has been some dis
appointment over their failure to boom"
in view of the excellent condition OF tie
/ steel trade.
There is the best of reason for believ-
ing that the people that have charge of
the marketing of these securities desire
no boom" When the market tumbles
they are supported, and when 1t spurts
they are held back. The entire campaign
in the Steels seems to be shaped with the
view to making the public confident OF
their stability first of all. Later, when
the general market begins to move up
ward in an important way, If there is to
be such p movement there is every rea-
son to suppose that the Steel stock mana
gers will wish to take hand in the game.
Peoples Gas Weak.
Peoples Gas has been relatively weak.
1t is saii that there has been selling of
the stock for inside interests on consid-
cradle scale, but of this, of course. there
can be no very convincing evidence. The
bear argument in this case has been the
expectation that the taxes against the
company will be equal to something like
33 per cent of its net earnings. Even II
the company succeeds in preventing such
a heavy tax 1t will be done only by an
expensive fight. This has created the
very general impression that a cut in the
dividend rate in the stock may be neces-
sary.
Canard Against Copper.
The break in Amalgamated Copper yes
terday was sharp and disconcerting to
those that made investments recently on
the theory that the decline in the stock
had gone far enough to discount the poor
condition of the copper trade. The break
was accompanied by a story from Wash
ington that the Attorney General had pre-
pared the papers in a suit against the
Copper Trust This was denied by the
Department of Justice, and the news
agency that put it out afterward stated
that a mistake had been made, but this
vas after the break had occurred, and the
market had closed.
There was much talk of the incident
yesterday afternoon in the street. and
much disposition to accuse some one un-
known of dirty work in connection with it.
Some people We're inclined to the opinion
that the Standard Oil people had had
something to do with the floating of the
story. They said that the Standard Oil
people wished to buy Copper stock as
cheaply as possible before giving 1t
good advance. But there is no way OF
finding out If there is any foundation for
the suggestion.
Greater Missouri Pacific Deal.
The Gould securities have shown much
strength. and at times even buoyancy,
during the pas; few days, The earnings
statements of the Southwestern lines re-
Gently have not shown such good increases