The Washington times., 1902-07-03
Showing of Pennsylvania
Railroad Creates Spirit
of Confidence.
ENTIRE LIST IN SYMPATHY
Dealings in Bonos Comparatively Light
Transactions in West Shore Heav-
lest in Years-Professional Element
Helps the Close.

tie shifting Of speculative interest in q
number of stocks today that resulted in
higher prices for those that received
fresh attention.
The remainder o. the list was as a
rule strong in sympathy The favorable
Developments were more satisfactory
weather conditions in the West. the ex-
cellent showing of the Pennsylvania
. Railway Company for May, and the
United States Steel Corporation for the
six months ending June 80. which was
! not made public until after the close
of business yesterday.
Rumors of Dividends.
Rumors that the dividend upon Louis
vile and Nashville will be increased TO
the rate of 6 per cent when action IS
. taken regarding the matter next week
! stimulated speculation in that stock that
resulted in net gain of 214 points.
though the final price was nearly point
below the best figures recorded.
OF the railway stock it was second only
to Missouri Pacific in respect to activ-
! ity. Missouri Pacific sold the semi-an-
nual dividend of 21a per cent and declin-
ed fractionally on profit taking. The
two stocks mentioned were the only
ones in the railway list in which deal
ings extended TO over 10000
The excellent showing of earnings
made by the Pennsylvania Railway was
attributed largely to the increased move
ment of bituminous coal caused by the
strike OF the miners in the anthracite !
region.
1t was inferred that the Baltimore and
Ohio Company is being similarly bene-
flied by that stock. and moderate pur-
chases of the stock of that company re-
suited in net advance of IL per cent. |
Traction Stocks Strong.
dealt in on a small scale, were strong
in the early dealings, but subsequently
reacted. OF the usually less active is
sues Chicago and Northwestern were ex- |!
ceptionally strong.
In the industrial group Sugar Refining
was the pre-eminent feature. leading the
entire list in respect to activity. It en-
1oyed maximum advance OF nearly Two
points and retained about half of 1t at
the close. notwithstanding some fairly |
heavy selling in the late trading.
The United States Steel stocks re- |
sponded fractionally to the satisfactory |
showing scf earnings for the last six
months and the declaration Of the un- |
usual quarterly dividend on both classes |
of stock. There was also improvement |
in Amalgamated Copper. The pool in |
Colorado Fuel advanced the price OF that |
stock nearly three points.
The dealings in bonds were compare
lively light. with the heaviest transac-
tions in Atchison General As. C. B. e. |
@. joint As, Colorado Fuel, convertible |
IS. consolidated to Tobacco As; Mis- !
souri,, Kansas and Texas. St. Louis Di- |
vision Refunding As; Northern Pacific |
issues, Union Pacific convertible as, |
and West Shore Guaranteed As.
The transactions in the last named, |
though not large, were the heaviest in |
some time.
Rope Advances.
On light transactions. Standard Rope |
and Twine advanced a point. making a |
total recovery of four points from the
low price of last week.
In the outside market the noteworthy |