The times., 1898-12-11
FOR PlMpLEs.
increased 1880. and from July decreased

increased 1880. and from July decreased
SO. .19s
Bowers & Wood few days ago stated
that wheat then at 66c. would likely have
a decline of 2 po!nts.-1t was at "a and
fraction yesterday. Mr.. Wood ventured
the assertion after the close yesterday
that the May option will not sell any
lower and that itlwill begin 10 go up i'm
mediately.
Leather preferred was strong during the
first hour yesterday, but later sales car
ried the price below the opening. There Is
much prediction of high prices for the
stock, however. Undoubtedly the buying
is by insiders. and It Is equally certain
that 1t Is based on the large business due
to the weather.
Norfolk and Western is one of the IA
vorites of the Street. II is freely predict
ed that 1t will go much higher during the
coming month. The present price is at
small advance from that of AZ few weeks
ago but ii is not of such a discouragihg
nature as that in Pacific Mail, for in
stance, and several other issues.
- ."
yesterday after the hesitation and weak
ness of Friday. 1t Is stated that there is
no question OF a dividend on the preferred
stock next month, probably TO be declared
this week.
President James j. Hill. of the Great
Northern, has come out with an emphatic
denial that he has any quarrel with Mr..
Morgan over Northern Pacific affairs. He
is equally positive in his statement that
he and his friends are not selling North
ern Pacific Or buying Union Pacific.
Manhattan Elevated went to par yester-
day. The other New York street rail-
road stocks. although fairly strong. did
not keep up TO the records made on Fri
day Metropolitan closed at la34. There
is much talk of the magnificent prospects
of this road ". C. Whitney is quoted
as having made the prediction few
days ago that Metropolitan will go to 800.
Federal Steel preferred was advanced
from rs to 7s2s yesterday with the rise
in the grangers. The excellent condition
of the steel trade and the prospect that
there will be large profits Tor the COM
pany in the coming year make the friends
of the company most confident 1t is said
| that the dividend of per cent. on the
preferred stock will be declared undoubt-
edly.
The past week on the local exchange
has been an excellent one with n wide
range of activity and large amount
of business. Prices generally have ad-
vanced, though during the last three days
there has been some reaction from the
highest in one or two stocks.
A large holder of Mergenthaler sold
his shares during the week in trans
ferring his Investment to another COM
pany. His shares have been taken by
local buyers and the price of the STOCK
has declined very slightly under the ex-
traordinary pressure. 1t is believed that
| 200 will probably be reached by the stocl
| before the dividend Is paid at the end OF
| this month.
Metropolitan continues to be very
| strong. The only sale yesterday was a
14o. No one can be found who pretend.
| to know the reason of the extraordinary
prices.
The interest of the exchange is agaii
| awakened in Pneumatic Gun Carriage
! which is exhibiting a remarkable spur
in prices. A week ago 1t was at 90 an,
Yesterday 1t sold sat 30. The reason fo
the advance is undoubtedly the resolution
introduced by Senator Chandler early il
| the week, callingIfor an investigation o
| the system. ~