The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-27

cause more buying of stocks by the public
next week than any other Development
would. This. of course, is what the In
siders wish and. therefore, it must be said
that their tactifs are Of the mos !; ski an
way off. considered market-wise, and it
is impossible to say what will be the tone
of speculation then, but the chances favor
strength If not tremendous buoy9ncy at
the beginning of the week at least.
The bank statement today may be
bad one as the banks are understood to
have lost more than 100000. But money
loaned on call yesterday afternoon at
per cent, which suggests strongly that the
I financial people do not look for anything
distressing in the money situation at
present. The beginning of the shipment
Of gold again seems to have had little
effect on sentiment. Further shipments
might cause some uneasiness. However,
it should be noted again in this regard,
as well as of developments in general,
that the public does not pay any atten-
ton to bad news or to probabilities dur
ing a bull movement. 1t is the insiders
that consider actual money conditions
and probabilities in reference to the ma
nipulation of the market. If they are
afraid of the situation and wish to sell
out TO the public the quoted rates on
intrinsic cause for tightness No one need
question that Mr.. Morgan and the Stand
ard Oil people and their friends can do
what they wish temporarily to control
these matters. At present the insiders
undoubtedly are selling out to the public.
| a recession is assured in the near future.
How long it will be delayed it is impos-
sible to say. Probably the insiders them
selves do not know. They will continue
their present most successful tactics as
long as possible, as undoubtedly they are
extremely profitable.
One of the most experienced of market
operators in Wall Street wrote this week
to a Washington friend. not in the mar
ket, apropos of request for advice. that
he would much better not buy stocks He
said in substance that il is too late now
to get into the market on the bull side;
that If one is in already it might be well
to stay in, using much caution and TAX
ing profits on the bulges, and that it is
unsafe yet to sell stocks short. The ad-
vice undoubtedly is excellent.
London is selling American securities
all the time. II is an argument of the
bulls, which may be good with the pub
lie, that London is buying, but no one
that knows the facts pays any attention
to the higher prices that are quoted at
thu opening on the other side every day
| or two. They simply mean that orders
to purchase and put up prices have been
! sent from New York. London is unload
| ing American securities. This should be
CONSIDERED significant from two or three
points OF view II means for one thing, OF
course. that London considers the present
ieVeI OF prices quite nigh enough.
There was nothing new regarding the
alleged Union Pacific deal" yesterday,
and there is no sufficient reason for be-
lieving that there is such a deal under
consideration. There are people fully
aware of the stupendous character of the
buying of the stock recently that never
theless assert their confident belief that
the only deal is manipulative one to get
the price of the stock up and help the
unloading of other securities No further
advance was made yesterday, the ten
dency being rather toward slightly
reaching a top price OF 2Gg1L and closing
there.
Amalgamated Copper was n weak fea-
ture of the market as it was on Thurs
day. The reason was clear in the litiga-
ton begun against the company in Jersey
City. a temporary injunction was granted
by the New Je -,y court against the con-
OF the Butte Boston and Boston and
Montana. This suit was rather expected,
as was stated in this coIumn several days
ago. The contention of the plaintiff in the
suit seems to be a just one enough, al
though il is entirely probable that his
motive may not be so praiseworthy He
wishes the full terms of any such deal as
is proposed to be explained TO all stock
holders before il is made The Heinz peo-
pie are thought to be the instigators of
the litigation.
Sugar was doomed I'D two or three
points, for no particular reason that could
be learned. Ii is entirely probable. how
YER that the advance is the more reason.
able and in accord with the facts than
the decline was. The stock seems TO be
entitled to some further gain
Another action has been begun against
the Shelters Trust this time to prevent
new stock acquired in exchange for their
little regard to intrinsic conditions and
is dangerous one to speculate in,
Bachman & Co 1901 F Street strongly
advise the purchase of Reading first nTfs-
ferred They state that interests closely
ing the stock and that an inward move
ment Is likely to occur at any time The
Readings have not had their share nf the
markets advance Bachman <, % are
also friendly to Tennessee Coal and Iron
The new Steel securities pyera moro
buoyant YESTERDAY than AT any time in
advise their purrhase a statement az
the March earnings of the new trust has
been given ont unoffciaIiv that is in en-
tire harmony with the predictions of those
| closest in touch with the affairs Of the
company. 1t is said that the surplus. at
ter deducting the proportionate part of
about IS 0o1 00 This is AZ the rate of
sos 900 GOO for twelve months af;,j although
March is considered one of the best
if seems entirely nrobahie thar the aWer'