The Washington times., 1903-02-17
FINANCE AND COMMERCE..
CURRENT NEWS AND GOSSIP
AFFECTING SECURITIES

The fractions were very strong.
a point and Metropolitan was up ia
points In the first hour Manhattan
showed fractionally better.
When Rapid Transit's subway work
begins Rapid Transit shares will move.
Amalgamated Copper was the feature
of the trading. opening at a advance
and going up - points over yesterdays
Blessings. Anaconda sold up per cent
in sympathy.
Tfe $3.50. OOO. 600 of United States Steel
bonds, which will be issued under the
stock conversion plan. are expected to
sell from 80 10 81. They will be a sec
ond obligation as compared with the
original bonds which Andrew Carnegie
took in payment for his mills. They are
quoted at ia. The new bonds sold on
the curb yesterday at 94l2.
Everyone wishes to know what the
United States Steel Company will do
with that SAC. 0OO. 600 cash derived from
the new bonds.
1t is announced that the Lackawanna
Steel Company will issue call to stock
holders this week for special meeting
20 be held March g. to act on PROPOSE
tion to issue SIS. 900 900 first mortgage
; per cent convertible tweEty-year gold
bonds. part of an issue OF $50. 600 900.
which has been underwritten ~ SpeyeI
q Co.. and Kean. Van Cortlandt & Co.
Shareholders VIII have the privilege of
subscribing TO the new bonds somewhat
under par and interest.
Broad Top shipped s. 800 tons more coal
last week than one year ago.
Joseph Wheaton. the distinguished
iron master says an output OF 20. 900. 900
tons Of pig iron in the United States this
year may be reached.
Cripple Creek mines turned out last
month $3.50, 600. which is up 70 the old
standard.
In 1884 the first Cuban ore came to the
United States. The total amount was
%. 2S5 tons. In 1901 the imports amount
ed 10 552,24S tons.
Standard Oil yesterday declared a
quarterly dividend of $40 a share. John
I ID. Rockefeller. who is president and
( who. il Is said, owns personally 4OO. 600
OF the / 900 900 shares OF stock got So
T OOO, 900 as his portion OF this dividend
tho total Of which is 500 900. 600 The
/ dividends last year amounted TO IS per
! cent They are expected to exceed so
/ per cent in 1908.
! 4 consolidation OF the four great ex-
| press companies OF the United States IS
/ again talked of. This accounts for the
/ large advance In the quotations for the
Adams. United states, WeIls-Fargo. and
/ American shares.
The National Biscuit Company shows
surplus OF $685.. 3S7 over dividends an
increase OF about $1,000.
The January product Of the Manufac-
] tured Rubber Company was 75. 0OC
pounds. on which IL Is said the gross
earnings were over $1,000.
Net earnings OF smokeIess Powder in
January were S32, 325. and the average
daily output OF powder was 4,147 pounds
New York Stock Exchange members
have petitioned the governors to close
next Saturday and Monday.
The West sold wheat In great quaint
ties last week. depressing the price
The heavy snowfall throughout the
West is considered Of Importance. as fl
will undoubtedly improve the condition
of the Southwestern crops.
Ten cent cotton during a part of tho
current crop year is expected by deal.
ers.
Liverpool cotton market was consid.
, erably better than expected. Spot sale,
continued large The weather in tn,
; South is still bad. and helps sentiment
In favor OF the market. Values ar,
| likely 10 remain steady as long as tn,
good inquiry for the raw material con
| tlnues. regardless OF whether they de
cline in the long run or not.