The times., 1898-11-18

The market was unsatisfactory 10 the
bulls yesterday, and for that matter to
the bears as well, as business during the
latter part of the day was dull and fiuc-
tuations small. There was irregularity in
the first hour. a slight rally at noon, and
later declines and lack OF interest 1t
is evident that the fever of the public TO
get into the market is over, for the time
at least. and il seems reasonable to sup
pose that there will be little business and
little change in prices for several days
at least. One cause of the lack of liyeli-
ness is the uncertainty over the situation
at Paris. a disposition being manifest to
wait for developments. The level of prices
is also discouraging 10 the pubic general
ly. However rosy the prospects of roads
such as the granSerS are, for instance. il
takes a large share of faith in the Nc
Kinley Administration TO buy them when
the present range of prices has not been
equaled in any OF them before in the last
ten years. People whose memory is long
can remember that in the Sos Burlington
sold above present prices when the divi-
dend rate was S per cent. and that Rock
Island reached a high mark of 40 with a
yearly dividend rate of per cent, but
many can see no absolute assurance that
there is to be repetition of these figures
Despite these facts. however the grang-
ers are very strong. They were among
the most active stocks in the list yester-
day and all except Rock Island showed
small net gains for the day. The St. Paul
statement was most satisfactory. The
comparative position of the grangers
makes many people enthusiastic over
them; perhaps they will find unwarrant-
ably so. Burlington reached l2o 5-S and st.
Paul 1l3 81.
Atchison preferred continues to be one
of the favorites. 1t seems to be pretty
well settled that the stock will get at
least / per cent dividend in January and
it has been bulled by one of the strongest
cliques in the street. The arguments for
and against sAtchisen, and especially the
preferred stock, have been exhausted dur
ing its recent activity. To the bears the
stock is even higher comparatively than
the grangers, and less likely to continue
it's advance. tT
The advance m the dividend rate or
Pacific Mail continued to have its effect
in the morning hours. but the boom in the
stock was only temporary. This. stock is
one of the low priced securities which will
probably have an advance if there is to
be any furtner rise IN the market any
where. There is noticeable a general veer.
ing of attention to this class of securities
which have good prospects. The advance
| in them has not gone so far as that In the
so-called gilt-edged issues.
Federal Steel issues were rather weak
There is a strong faith in these stocks Ir
many quarters. and it seems well placed
A little while ago the people who predict.
ed the present prices were laughed at by
the majority of street men. The Federal
Steel Company Is one of those that will
benefit first from the broadening of the
American markets. 1t seems very certain
that it's business in the next year and
the next ten years win be magnificent.
Ladenburg. Thalmann & Co. were yer,
large buyers of Flint & Pere Marquette
securities yesterday. They and Others