The Washington times., 1903-01-29
IN THE FINANCIAL WORLD.

T
end Of last year was much more ex-
tensive than is generally known. Best
/ exchange authorities consider our for
eign Indebtedness mostly Equidated.
Little appeared in this mornings news
calculated to cause any change of senti-
ment or produce any marked revival in
the trading either way. The Reading
and Erie statements are out and make
fully as good a showing as had been
/ predicted for the past fortnight The
/ Ontario and Western and Canadian Pa
/ cific statements of earnings for the
month of December also showed up we'll
Banking and speculative interests
still show disposition 10 let the mar
/ ket drift The undertone, however. Is
I strong. and bear raids are not very
/ successful General sentiment is opti-
mistic.
Although trading was not very active
/ there was little more buying of good
! character. and the sentiment was de-
/ cidedIy improved. Traders were gener-
ally disposed to help advances.
/ On good authority it is said that the
market is a sale on strong spots TOT a
turn.
/ a. c. P. gave every evidence of opera
/ tions Of a fairly strong pool. Boston
/ houses were fair buyers of the copper
/ stocks Amalgamated Copper opened
4 point up and advanced full point
IN the first hour.
/ St Paul remained firm on what seemed
a well grounded belief that rights would
+ be forthcoming this spring. No devel-
opment of the kind at today's directors
meeting was anticipated The strength
/ OF St Paul did much 10 inspire conf
dence in the rest of the list.
! The movement in san Francisco waa
( not accompanied by any new story, and
had rather speculative cast.
Ontario and Western was strong on
/ statement Of earnings.
There was but little foreign buying.
/ London came firm for American stocks.
with prices generally higher The i'm
/ pTOyement. however, was confined with
in 4 of the domestic closing except for
Steel preferred which was up q. and
Canadian Pacific. which was up 8.
Canadian Pacific showed some early
strength on the December statement.
The Canadian Pacific statement OF
earnings for December shows increase
in net Of S103. $50. which makes the total
increase in net for six months from
July an increase of 1856, ,344
The Erie's statement for December.
which was not expected until Saturday,
Is out today. It shows gross earnings
increased for the month $762, ,701 and
operating expenses increased S144. .34I,
| thus leaving the total net earnings to
/ show an increase of S618. .32O for six
months, from July l to January 1.
The net earnings show an increase OF
Sz30 290. which compares with the de-
felt of s., ,s02, sos Of the Reading system
for the same time The Reading Com
pany controls about 3S per cent Of the
anthracite coal output. and the Erie
about Is per cent The latter system
has had the advantage of a heavy east
bound tonnage in the past six months
which has helped 10 Offset its losses
in the coal strike.
The Reading statement for December
! is excellent The net earnings for the
railway company were 81 O6i .624 an in
/ crease of S102. .014: those Of the Coal and
Iron Company were S521, 90, an increase
Of 1868. .928. those OF the Reading Com
Ipany, $I14942. an increase of S31, ,64T
making the total net earnings for the
month S1,697,576, total increase of
$502, $50.
The weakness of Pennsylvania yester-
day is said 10 be the result cf short
/ selling in anticipation Of the proposed
increase in the stock, which has not
yet been authorized by stockholders.
/ Minneapolis reports J. J. Hill a very
large buyer Of iron ore properties.
Northern Securities influence IS Co
/ operating with the Canada Northern
road 10 defeat the Grand Trunk Pacific
/ scheme
Banks have gained from Thea sub
treasury since Friday $211, 900.
"WE MOVE Safes"
Merchants Transfer & Storage Co.