Evening star., 1898-11-21
Generally Buoyant Tone to the Stocl
Market Today.
AfCHlSOE AGAIN A FEATURE
Pacific Issues Taken Freely on ALI
Concessions.
GENERAL MARKET REPORT

special Dispatch to The Evening Star.
| NEW YORK, November 2l-The early
| traolns in today's stock market reflected a
continuation Of last weeks confidence and
general belief in higher prices The vol
| ume OF commission business was good. and
practically all of the meritorious issues
moved up under the demand. London
oousht some stocks during the opening hour
and seemed to sntirely disregard the adj
vance in continental money rates.
The Northwestern situation was empha-
sized as factor against Improvement be-
| cause of the detrimental influence of differ
ences between such prominent interests as
those behind Northern and Union Pacific
and the Oregon Navigation Company. The
Morgan and Hill friction may flnd far,he-
| reflection in the prices OF the Northern Pa
cific issues, hut the activity Of Morgan
brokers this morning leads to the presump-
ton that no advantage is to be conceded to
the Hill party just yet.
Prices were well sustained in snfte OF
semi-official announcements that rate cut.
ting would follow the rupture incident TO
the disagreement relative to the division OF
territory. In some quarters the oeiicf oh
talns that a semi-annual dividend OF / per
cent VIII he declared upon the common
stock of Northern Pacific, in spite of the
want of harmony in other quarters. Those
IN position to judge most accurately are
willing to accumulate stock on all conces-
sions, on the theory that good business pol
Icy will become dominant IN time TO ward
off any serious injury to property rights.
Atchison issues were again features OF
the market, the preferred stock advancing
per cent under buying of unusual volume
and persistence. The approach of divi-
dends on the preferred stock and the mag
nificent physical condition of the property
are factors which have long been neglected
by the speculative community. Having eX-
plotted less promising issues there is now
well-organized effort on the part Of GER
tain successful market interests to take
Atchison out of the distinctly low-prioed
group.
Northern Pacific and Union Pacific pre-.
ferred may not be overtaken by the prefer
red stock of the Atchison company. but the
distance between them is likely to be ma
terIally reduced.
The strength of Baltimore and Ohio issues
was feature of the mornings business,
and B. and o. Southwestern was bought
cautiously by houses identified with the re-
organization.
Peoples Gas was marked up sharply right
at the opening and given excellent support
at all times. The new stock to be issued in
payment Of the Manhattan Oil purchase will
be given to shareholders at par and in such
amounts as to make il in the nature OF a
dividend.
The belief that the property should now
be unmoleSted by Legislative attacks is
growing, and an effort IS already well under
way to make ii sell at its dividend value.
Federal Steel Was trif1e more steady dur
ing the day. but is still sensitive the re-
suit of Saturdays sharp decline.
The reported dissolution of the peace COM
mission resulted in slightly easier market
during the final trading. but Wall street q
likely 10 view this in the light Of sayias
of S200o0,0oO to the government.