The times., 1898-12-28

man said come true and II is not disposed
now to doubt him when he predicts that
there are to be still further advances in
Rock Island, Chicago Gas Brooklyn Rapid
Transit and Federal Steel. 1t is almost
tempted to believe that there will even
be no reaction in these stocks.
The grangers, though they were not
pushed up SO rapidly as some other stocks
yesterday, were nevertheless one of the
i,.::: features of the day Rock Island
::.lcTwccS1 a net advance OF nearly two points,
and st. Paul and Burlington of nearly a
point each. The net earnings statement of
St Paul for the month of November and
the statement Of the gross earnings for the
third week OF December were most bullish
arguments. The net increase for the month
was 1924, GOO, and the gross for the third
week of December was $4,000. The lat
ter breaks all records. There is very little
now in the gossip regarding the grangers.
but the condition of the roads speaks for
itself. Rumors are in circulation that Rock
Island interests have acquired the Min
neapolis-St. Louis property.
The strength of Pacific Mail is most graf
flying to the large number of people who
believe that this stock will be one of the
best on the list in its advance before the
large buying yesterday, and although some
profits were taken at the highest figure,
the stock remained very strong. The ad-
vance at the close from the close
on Friday was over a point.
There are still untitled buying or
ders in the commission houses, and there
seems no question that the record for to-
day will be equally good, il not better. NJ.
ID. Jacobs. the local representative of Mil
Ter & Co., is extremely bullish on the stock
and has been during its rise from below 50.
One of the most persistent bulls of the
Flower stocks has been the firm OF May
nard & Christian. Their market letter,
sent out Monday, advised buying Rock
Island, Chicago Gas Brooklyn Rapid Tran
Sit Federal Steel and the Atchison stocks.
They are still bullish on all the Flower
list.
Leather was one of the most active
stocks on the list yesterday, scoring a
total advance OF over points from q high
opening. Though there was some recess
sion from the highest price. the buying IN
the afternoon was very good, and the cose
was at a good net advance. The early
Winter and the boom in the leather trade,
helped along by determined bulling by the
leather pool is cited as the reason for the
strength of the stock.
AS Mr.. Flower is undoubtedly the central
figure of attention in Wall Street at this
time, so also the Federal Steel and the
other securities of companies connected
with the iron and steel trades are the
most attractive stocks to a large part of
the speculative public. This is partly be-
cause Mr.. Flower is known TO be most
optimistic of the future of the Federal
Steel Company, but largely because the
iron and steel trade is immensely pros
porous generally. The rumors of further
combinations in The trade, and notably
of the absorption OF Tennessee Coal and
Iron and other minor companies by the
Federal Steel trust, also undoubtedly
helped the boom of the various stocks
| along. Federal Steel common and pre-
ferred have both gone up a hundred per
cent in the last few months. During the
last few days their advance has been very
rapid, from 40 to SO for the common and
from Is TO 81 for the preferred. The
American Steel and Wire securities have
been pyrotechnic In their movements dur
ing the last two market days. The COM
mon stock reached so yesterday, also the
high level of Federal Steel common. The
| advance on Friday and yesterday was over
10 points in both the common and the pre-
ferred stocks. Tennessee Coal and Iron
and Colorado Fuel and Iron were both
strong yesterday, but there was little ad-
vance in either.