The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-02-20

for the unihcatiOn or this system are
under consideration. and within a short
time the preliminary steps in that di-
rection viii be taken.
But no amount Of denial. no matter
how positive. specific. or authoritative
serves. 10 induce those who believe that
B this branch OF the Gould system will
/ be acquired by The Pennsylvania TO
change their minds. That some OF them
are in a position 10 know what is GO
I ing on must be admitted. and those who
read the signs OF the ticker tape. con-
/ fess that some Of them cannot be intel
hgently construed. except in the light
Of such a possibility Denials are as
matter of course and are TO be expected
but there is sufficient in the Pennsyl-
vania- Wabash situation to set the fnan-
cial folk a-thiaking. The long talked oI
truce between Pennsylvania and Wabash
may be attained in a wholly unexpected
manner.
Bull talk on Rock Island was pro-
nounced-
/ Rumors of James r. Keene's serious.
/ illness, II is asserted are entirely with
out foundation. His absence from Wall
Street is one bar TO activity, as he is the
recognized leader
J. J. Hill is enthusiastic over the
prospects for earnings for the Northern
Securities roads, the Great Northern.
Northern Pacific. and Burlington. Last
year he predicted gross earnings OF
$3.50 coo, O0O and while the actual results
were less than that sum. the increases
over the previous year were such as 10
warrant the belief that the figure he
named Will be exceeded this fiscal year.
He is particularly bullish on the future
Of the Northern Securities Company. and
his plans for the company are cOmpre
hensiye.
! John w. Gates is in Chicago, having
returned from his California trip. No in
/ timation OF his future plans are con
veyed in the dispatches from that city.
/ but II is believed that he viii go to
| Palm Beach in short time. The Gates
contingent are not enthusiastic over the
/ immediate prospects in the market. but
/ they are bullish on the general situation
and look for better prices eventually.
| When the advance in sterling exchange
| brings the rate still closer 10 the gold
} export point. there are still two consid-
/ erations that appear TO operate against
/ any shipments until next Thursday. al
though there Is a posi- bility OF course
! that an expectation may be arranged be
! fore that time. II would be possible
/ for instance. to ship by the German
/ steamer sailing next Tuesday, but the
/ Government Offices are closed Monday,
/ shipment by that steamer would practi-
I cally involve loss Of two days in
! terest.
The main consideration operating
Z against exports Is the ease OF money in
/ Paris. II is evident that the Paris bank
/ ers do not care to encourage gold i'm
Z ports. and il is noticeable that as ster-
I gn no
/ also goes up in Paris. thus checking
shipments on the basis OF a triangular
/ operation. The significant fact has al
| ready been noted that there has been an
/ advance in Paris exchange on hand every
4 "Wednesday for four weeks. Wednesday
/ is the day before the sailing Of Thurs
! days fast steamers
The Bank Of France notes OF circu-
/ latioH decreased 81 100000 for the week.
/ Bank OF England's discount rate re-
mains at per cent and the reserve de-
/ creased from 1928 to 1896 per cent.
/ The TransvaaI loan which will be is
sued by the British government in APP
/ ril Will be $20O.o0O00O at per cent
/ Banks have lost to the subtreasury
/ since last Friday S2,436. 900
1t is hazardous at this moment to
venture any forecast as TO the proba BILE
showing of the bank statement with iny
I degree OF assurance, but for present
/ indications OF the weeks movement OF
currency IL looks as though II will prove
moderately unfavorable. Some antici-
/ pate for instance. like last weeks
statement. a liberal increase in loans
/ with moderate loss in cash.
7 Columbus and Hooking Coal and Iron
show earnings for eight months equal
/ TO about l per cent on common
! 1t is learned from good sources that
reimbursement OF Consolidated Gas is con
tempiated probably after the New York
State Legislature adjourns.
Higher prices for Anna lgamated Copper
are freely predicted. This stock was the
I leader of the list at opening. up ! point
The coffee and cotton and produce mar
kcts will all be open tomorrow and
/ closed Monday The stock market will
be closed from tonight until Tuesday
morning.
The heavy fall OF STOW has greatly
! benefited the winter wheat belt As re-
ports from abroad do not favor a heavy
I crop the prospects of heavy yield here
are gratifying to exporters.
Liverpool advices regarding cotton av-
cragc points better. or equivalent 10 4
points in our market. than had been ex-
/ pecte1. as A full TpgDOnga IN dor,aefic