The Washington times., 1902-12-19
PRICE CHANGE SMALL
ON ACTIVE MARKET
IN THE FINANCIAL WORLD.

IN THE FINANCIAL WORLD.
Prices closed at the top yesterday,
presumably due 10 the prospect OF a
good bank statement which fright
ened the short interest TO cover.
Should these prices hold during the
rest Of the week it Is fair TO assume
Wall Street has start. 10 anticipate
the January rise I'm prt., hich is sure
to come. However. O.. lovement is
ill-timcd. and it is doubtful il it will be
permitted to gain any great momentum.
Money on call was easy between and
. per cent. and today g, was advanced
TO 5ia per cent.
Il is rumored that The dividend on
New York Central will De increased. and
that The dividend on Delaware and Hud-
son will be cut to q per cent. 1t is
probable no change viii be made in
either
There is every Indication the bank
statement tomorrow viii be much more
favorable ihau it has been for some
,ime. The banks have lost to the sub
treasury S63S 900 as against s.. SOC. 600 in
the same time last week. Besides. all
OF the heavy liquidation of last week was
not apparent In the last bank statement.
but viii be reflected by the one to be
made public tomorrow.
An Increase of so cents a ton on a pur-
posed output of $4,000. 600 tons Of coal
bfrb rb. g,,r ,,r,,,.a..,g.. ,,,,-,,y,-g .
maintain during the year. 1903 means a
profit of $50 600 600. This sum one Of
the operators modestly stated. will ba
sufficient to reCOup all losses sustained
by the companies incident to the strike
The break of - points in foreign ex-
change and the probable increased ship
ment Of grain abroad remove all dan
ger for the present OF gold being sent
to Europe
1t is reported the threatened strike Of
5000 employees in the works Of the Cen
oral Electric at Schenectady viii be
averted today. and that Utting. over
whom the contest is being made. will be
Ieinstated He was dismissed because
OF his absence from work for nine days.
N+t-A ms hiAAA NtLAlt AlN Ut kdAlLfA II laDOE
union in the compauy's works az Lynn.
Mass.
Argument in the case Of the Western
Union against the Pennsylvania Railroad
was concluded yesterday. The Western
Union seeks TO permanently enjoin the
Pennsylvania from removing its tele-
graph poles and lines along the right OF
way Of the railroad. on the ground that
the railroad is a post road. and that
under the provisions of the act Of 1866
the lines could not be removed so long
as the Western Union continued to carry
Government messages The case will
ultimately reach the Supreme Court of
the United States.
Suggestions arc being made that the
stock Of Colorado Fuel and Iron IS sell
ing at too low a price. and II there
were any thing in the reports made
public some time ago as 10 the business
Of that company. these suggestions are
worthy Of consideration. In the recent
break the stock sold AZ 1884. and when
it was selling at 10 John W Gates
predicted IL would sell at $50. Since that
time. or thcrcabOUts MT. Gates dis
posed Of his holdings. At least he does
not now appear as a factor IN its man
agement.
The congestion Of traffic on trunk lines
is unprecedented, and cousignees are
much exercised over the delay in re-
ceiving their goods. Perhaps the great
est congestion was az Pittsburg on the
Pennsylvania. but to a certain extent
that clog in transportation was remov-
ed last Sunday. when hundreds Of men
we're pressed into service TO aid In get
ting cars out Of the yards. On the ST.
Paul Road the congestion Is almost as
great. and the tonnage carried Is greater
than ever before. There is a car short
age and locomotives cannot be pro-
cured to move even the cars that are
ready TO be handled. This condition OF
affairs does not bear out the prediction
Of MIR Hill and others that the tide Of
prosperity has changed.
The home demand for steel rails and
locomotives is 50 great that German and
Scotch firms are obtaining contracts IN
Canada. This is looked upon as an In
vasion Of domestic territory. but as
matter OF fact this rs not the case. The
Steel Corporation has orders ahead for
a year. and refused to enter into a con
tract TO deliver rails within the time
specified by the Canadian Company The
American Locomotive Company has or
ders ahead for 2 500 locomotives. and
could not hil the contract for the Ca
madam Pacific before 1904 The increase
in earnings for six months Of the Amer
lean Locomotive Company over the pre-
yious six months. IS about SO 900 900. It's
plant Is 20 De considerably enlarged.