The Washington times. (Washington [D.C.]) 1901-1902, 1902-05-15
STOCK MARKET DULL
BUT TONE IS FIRM
Union Pacific a Leader in
respect to Activity.
MONEY CONDITIONS EASIER
SuO'ieasury, by Its Liberal Payments,
mas Gained Heavily From the Banks
Labor Situation in Coal Regions Shows
NO Effect on Speculation. 49,.


weeks. The tone of The market however.
was very firm. and the majority of the list
closed higher than yesterday.
"ang OF the net gains were fractional,
out among the less active issues note
worthy recoveries from The recent depres-
sion took place. Union Pacific was again
ie@ufr IN respect TO activity, supply
ing ABOUT one-fifth of the total transac-
lions. 1t enjoyed a net gain of nearly a
point, closing at n slight reaction from
the best price.
Railway Stocks Dull.
There was no news affecting the value
OF this stock. hence the Improvement in
II must be attributed TO the recent steady
accumulation of it. apparently by interests
identified with the management.
The only other railway stocks in which
transactions exceeded ten thousand shares
were Reading. St Paul. Manhattan. Ca
madam Pacific. Kansas City Southern. and
wabash common.
All OF these. except St Paul, closed
somewhat higher than last night. and
Kansas City Southern enjoyed an excep-
uona1 net gain of nearly point Less
active issues that closed materially
higher were Ann Arbor preferred, Canada
southern. Chicago and Eastern Illinois.
Chicago and Northwestern, Chicago Ter
minal preferred, Detroit Sou.nein pre-
ferred and ST. Louis Southwestern pre-
ferred
The Improvement in the last-named is
doubtless based upon the gradual increase
In the earnings Of all of the Southwestern
railroads for the first time since their
traffic returns suffered from the damage
to last years corr, crop.
Improvement Shown.
The marke. for Msnhattan Railroad re-
fected the favorable showing of earnings
for the quarter ending March 81. which
was made public yesterday. The labor
situation in the anthracite coal regions
apparently had no effect whatever upon
the speculation. The improvement was
due to easier money conditions princi-
pally.
IN the local movements of money it is
to be noted that the New York exchange
at Caicago commands a premium OF 30
cents a thousand against % cents yester-
day. showing that the movement is decid-
eddy in favor OF this center.
9ne suDtreasury is making more liberal
payments than OF late, and in consequence /
it had gained from the banks up to the !
close OF business last night only s273.OO0 !
since the beginning of the present clear
ing house week. IL was a debtor at the I
clearing house today TO the extent of
$s6T eco.
In the industrial list Amalgamated Cop
per held the first place, though the deal
ings in il were little less than 5000
shares. The market for IL as well as that
for United Copper on the curb" reflected
the incipient but apparently substantial
Improvement in the industry as indicated
by the market for the metal and by the
regarding the supplies on hand
and the amount that is being consumed.
Hunt for Best Price.
All of the copper producing companies
ire now apparently endeavoring TO get the
pest prices possible for their product.
Less active industrials that closed point
,r more higher than yesterday were Con-
,olidated Gas. North America. and yir-
,iDia Carolina Chemical preferred.
There was SO brisk demand for the last
FAMED in the late dealings that advanced
1 two points II was accompanied by a
'cviyal OF reports OF an impending closer
alliance than at present between the COM
,any and the American Cotton Oil Com
amy
Moreover, il is generally believed the
dividend on the common stock
which is to be declared tomorrow. will
,e an increase upon the rate paid here
cfore, namely, 4 per cent.
Earnings Warrant Increase
II is authoritatively asserted that the
arnings of the company warrant an in
rease TO a or even 6 per cent basis,
till II is possible, in view of the recent |
urchases by the company of potash and
Their works abroad, the management may
onsider IL wise TO utilize its surplus
arnings temporarily to pay for those
rcpcrties. ,
The noteworthy transactions in the
opd market were Continental Tobacco
,urs. Standard Rope and Irvine issues,
nd Union Pacific convertible fours There
as a marked revival OF activity in out a
de market. Noteworthy transactions
ere in United States Steel tves al s7l5
nd American Can preferred, Standard !,
H. St Louis Transit, and United Copper. ,
he tone Of all OF the markets at the
ose was very firm.
Il