The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-03-26

London comes again irregular This
week for our stocks with prices gen
orally about u lower for the majority
Of the list except Southern Pacific.
which is down q. st. paul. Reading. and
Chesapeake and Ohio L lower. Ana
conda is down > points. Money market
conditions continue unchanged. Con
soils l-l6 lower from yesterdays closing
to 90 5-16 for both money and account
The outlook is for continued ir-
regular and unsettled stock market
General sentiment is depressed by its
disappointing action and the uncer-
tainty OF the money situation here is
further aggravated BY the further I'M
certainty at London and the very de-
pressed condition Of that market gen
orally as a result OF the continued
weakness Of consols.
Moreover. there is the threatening
labor situation here and continued
apathy OF the public regarding either
speculative or investment purchases to
contend with. Further increase of $50
600. 900 new Pennsylvania stock an
nounced by the directors yesterday was
-Act wei 4fNttNtu Dl the street. STOCK
holders are given the right to subscribe
for this stock at 12O. and as so per cent
OF the subscriptions viii have to be paid
for early in June it will require some
thing like $4,000 900 10 finance the
hotation of such an amount Of stock.
With the Erie bond issue. Mis-
souri, Pacific. New York Cen
trail and numerous other bond and
stock fiotauons to underwrite and
put on the market, these new issues
are becoming more % strain in the
present condition Of the money market.
and are. therefore. regarded as piIing
up such a heavy load that the effect
viii be TO depress stin further general
market sentiment
New York. Ontario. and Western
statement for February shows gross in
crease OF $2O5. O7G and net Increase
S156.303. for eight months gross earn
Ings decreased S9l. Ss3 and net SI3O. GSS;
surplus after all charges for that period
shows decrease Of &203.570. This is a
pretty good showing for this company.
in view or the long strike period
The 81. 226.500 new common stock or
the Chicago and Northwestern has been
added 20 the list Of the stock today By
the stock exchange committee. making
the total. S4s. $40 zoo
The new Manhattan guaranteed capital
stock OF sos. 200. 900 will be regularly
added 10 the list April 1, in lieu Of the
present stock.
The Brooklyn Rapid Transit Company
viii not make any more monthly state
Inents OF its earnings but make them
quarterly hereafter
The subtreasury gained 81 800. 900 from
the banks yesterday. which makes the
total loss OF cash 10 them from this
source alone since last Friday. S2.15s.-
goo. This compares with total OF 81 500
GOO and S5.OO0,ooo the previous week.
Pennsylvania rights are freely offered
at and bids are scarce at and Az
per cent To obtain the rights on th!s
contemplated issue, stockholders will
have TO carry the stock until May 8. as
they viii not accrue until then.
1t is an acknowledged fact that the
greatest amounts OF stocks are held by
the big people. So far the market has
gone down 20 or 30 points on piking
operations of the local talent around
Wall Street. None Of the big men has
sold.
The bear party is strong and may
drive down specialties. but little liuui-
dation is apparently brought about. In
vestment buying Is aga pronounced
and is quickly absorbing the floating
supply OF stocks. as the bears will prob
ably find when they begin 10 cover.
London is reported 10 be bare OF
American stocks. and is said to be ready
10 buy railroad issues on a + per cent
basis.