The times., 1898-11-22
The news from Paris. when it reached

The news from Paris. when 1t reached
this side in a form to be credited, had
an effect on the market Immediately.
Prices dropped off something ike a point
all over the list. The history of the day
was of early strength and activity, owing
to higher London quotations and good
buying by commission houses and the for
eign arbitrage houses, and of later heavy
realizing and lower prices, due to the
Paris news. In the last hour there was
little business, the street apparently hav-
ing decided to wait for fuller particulars
relative to the peace negotiations before
taking any active stand on either side.
on the whole the indications seem to
point to the probability of further de-
clines today, with lessening of busi-
ness. The public always buys when #
goes into the market and 1t will not care
to buy today, and will keep out.
Later news received yesterday relative
to Delaware and Hudson seems to indi-
cate some uncertainty over the question
of reduction of the dividend. 1t was
thought at one time yesterday that the
dividend would certainly be cut but there
were positive denials AT the close of the
day. This uncertainty was reflected in
the course of the stock. There was much
weakness in the early trading. the price
dropping from SO to 93 Later there was
rally and the close showed only one point
net decline. 1t is said that one block of
Delaware and Hudson stock was sold yes
terday by an important railroad man
because he became part purchaser of an
other railroad, which was at one time
part of the Delaware and Hudson sys-
TEN. Ladenburs, Thalmann & Co. dis
credit the story of cut In the dividend.
The grangers, which were particularly
strong yesterday morning, shared the fate
of the remainder of the market when the
news came from Paris. They all showed
net declines for the day. Northwest was
a feature of the early business of the
day, the price advancing to 142. This is
a new record price, one of the frequent
record breakers scored by the grangers
in this rise. There is much to be said
on the bull side of Northwest, but, on the
whole. it seems reasonable to suppose
that the encouraging factors of the situa-
tion have been worked sufficiently al
ready, and that the next few days are
likely to see the end of the rise. Much,
if not all, of the advance from 130 the Oc-
tober level of the stock, has been made
by buying to discount the increase of the
dividend. - a.
1t may be stated positively there Will be
no change in the Rock Island dividend.
but the insiders are saying that there
will be a considerable advance in the
stock nevertheless. Flower is buying it
heavily. If the news from Paris during
the next few days does not have a disas-
trous effect upon the market it seems
probable that he will push the stock up
somewhat though how far he will carry
his bull opponents is a question.
Manhattan was one of the few stocks
which showed a net gain yesterday after
the break of the afternoon. There is
good evidence that a pool is beginning
operations with the stock again, and there
is much likelihood that 1t will be put up
several points. The gossip yesterday of
the early equipment of the line with cleo
trio power was probably put out by the
clique. The fact that the stock may go
up few points does not indicate the
worth of the road in any way. The pro-
fessional element has control of Manhat-