The Washington times., 1903-02-13

dltlonS are Sucn lnat II VIII require I
development OF a very strong character |
to arouse enthusiasm, such as the pas /
sage of the AIdrich currersy bill would 4
prove
Meanwhile the market seems 10 feel |
the falling off In the outside investment /
and speculative demand. the adverse in !
huence OF the lack OF any substantial /
short interest, the unfavorable impress 4
sion of the probability that gold eX-
ports will be made next week. and that |
bank statement Will be IN
favorable.
No matter how excellent money con-
iitions may be here, nor how abundant |
may be the supply Of both call and time
money. let the possibility OF gold exports |
be seriously suggested. and 1t developes |
feeling that finds ample reflection in |
the stock market. This was evidenced |
last week when IL was rumored that a
small amount OF gold had been engaged /
for shipment. There was no foundation !
for the yarn, but il had its effect never
theless.
Bankers say that TO exEArt gold now
would be in a sense good thing, and
il should not have the slightest effect
on monetary conditions here. On in
occasions In the past three
point. but none was exported. II Paris
be not taken into consideration that eX-
port point has been reached again, but
the experts are not worrying in the
least at the prospect
The sub treasury statement this morn
ing shows the banks have lost in opera
lions throughout the week only s50S.-
900, as against IS. 900 600 last week. 1t
is thought the banks have more than
made this UP on the weeks movement in
cash with the interior.
The chief expectation of a moderately
unfavOrable bank statement tomorrow
is predicted on the assumption that
there has been a further increase in
loans and that some of the losses made
IN cash last week. which did not fully
appear in last Saturdays bank statement
will appear this week
There appears 10 be little doubt that
the Aldrich currency bill will be passed
by the Senate.
The Bank OF England rate was not
changed yesterday. This was not as an
ticipated. and was disappointing
This mornings cables from London
report still easier conditions there, with
prices showing net losses ranging from
mon, and Louisville and Nashville were
down q points Atchison. Southern Pa
cihc. Steel preferred and Southern Rail-
way were Y point lower. Private cables
reported the tone heavy mostly on scat
tered selling from this side.
The story that Keene is very i'll was
madc much of on exchange. Report at
one time had him very low. His bro
kers were heavy sellers. II Is estimated
that they sold $4,000 shares Of stock in
the early morning.
The report that Keene was seriously
i'll was positively denied at an carly
hour, but these rumors persisted. The
denial said he was confined 10 his room
on account OF a slight attack OF rheu-
matism.
One by one the various problems and
mysteries that have worried the street
I'm the past two months are solving and
being eliminated from current gossip.
Among them are the Erie and the Rock
Island although no formal announce
ment has been made In the latter case
yet.
Important developments are expected
TO result from the Glover Leaf and Grand
Trunk preparations for operations on 4
broad scale at Toledo.
Missouri Pacific will show earning
capacity for 1902 Of 2 per cent.
Sixteen roads for tbe first week in Feb
ruary show gross Increased earnings Of
1875 per cent. Eighty-fve roads for
December show net increased earnings Of
sos per cent.
Southern Railway earnings for the
first week in February were $50. 076 an
increase OF $50. 521: from July /. $25. 5S5.-
262. an increase Of 81. 426. O67-
The Gould stocks were we'll supported
Copper and other similar specialties
showed good buying.
Erie wss more prolific Of sensation
than anything since the Louisville and
Nashville deal. and as an inspiration 10
imagination IL had no peer. But there
are many UnsOlved mysteries remaining
yet. including possible Frisco plans. is
sue Of new St Paul stocks, transfer Of
control OF Great Western, and the final
disposition OF Hooking Valley.
More attention is paid 10 the Hooking
Valley deal just now than 10 any Of the
others. presumably because a. is be
lieved that some announcement Will be
forthcoming in the immediate future
apparently the theory that Lake Shore
will secure control Of the property is
the one generally accepted and credited
even in conservative quarters.
1t is reported that Hooking Valley
will have valuable rights before long.
and that the common stock will go TO
125. There were large and very good