The times., 1898-06-22
49, oninion Of several people that l

The opinion of several people that
have talked with during the last twenty
four hours over the somewhat pecullar
market situation is that the present DUH
ness and lack of strength IS due TO the
lack of good news from the seat OF war
entirely. One broker whose opinion Is
as good as any mans in Washington said
last night:
There will be no better market prob
ably until there is news of d decisive vic
tory for America. Ii has been so long
that we have been waiting for something
decisive from the front and have had TO
be content with the husks, wen thrashed,
of official promises of movements 10 come
that people are inclined TO be skeptical.
There is also the possibility now Tor the
first time that Spain may have at least
a partial victory. AT Santiago the
strength of the two sides may be consid-
cred perhapS more evenly matched than
at any time heretofore This does not
mean that Spain has much chance either,
but there is a possibility at least OF
large Spanish force reaching, the oatue-
ground in time to engage with the
American Army These matters make
traders timid. That is the whole situa-
ton. A partial victory will not do
do not believe. Even a small victory
would result in no change in the market
1t certainly seems at the present time
that this victory may come on any day
and that it may be a magnificent one
Then the bulls would have their innings
There should then be a gradual advance
of several points, the bulls say.
The fact that there was no advance
yesterday is especially significant in con-
nection with several good developments
| in the general situation aside from the
war news. The chief announcement of
| this nature was that or the reorganiza-
ton plan of the Baltimore and Ohio. It
| is interesting TO note that the managers
| estimate that the fixed charges of the
new company will leave surplus for the
new stock on the basis if this years earn
ings of 81, 500 900, or nearly 4 per cent on
the new preferred stock TO be issued. It
| is fair TO assume that the new company
will be kept better in line In the matter
! of rates and therefore will get better re-
| turns on the same amount of business. In
| this connection it may pe said that the
west bound rate situation is better now
and that there has been an Improvement
| in the east bound situation.
The apprehension that the block of
| about 81, 900 shares of Western Union
owned by the Baltimore and Ohio would
be thrown upon the market has been re-
moved by the sale of the stock to the
Equitable Life where it will be held for
! investment. This is a bull point for
Western Union as 1t removes one of the
| bad possibilities of the Baltimore and
Ohio situation that had been feared by
the holders of Western Union. There
are many that believe the stock will have
| a good advance when the turn in the
| general market comes.
| Secretary Warren Of the Metropolitan
Street Railway Company announces that
| the directors have decided on an issue OF
| $40 900, 600 new stock. Debentures will be
retired with the proceeds of $6000.000 OF
such stock and 1900 900 will be reserved
for improvements and changing the mo-
/ tive power on the Sixth and Eighth Ave
nue. roads. This issue will increase the
capital of the company to S40000,000. A
special meeting of the stock holders OF
the company will be called shortly to rat
ify the action of the directors. Metro
politan was sold in anticipation of this
move yesterday by people who wanted tt
take profits before it came. After the an
nouncement the stock was in demand.
Nobody seems to know positively as t.
the situation between between the Man
haitian people and the rapid transit com
mission. There was talk of an agree
ment of some kind yesterday but it ma,
|
that at present Manhattan would be
good thing to keep away from.
|
Northern Pacific for the second weel
of June showed an increase OF earning
of s4S. 000
Sugar was erratic yesterday and the re
suit of the entire days business was no
satisfactory to the bulls There was
THERE is A CLASS OF PEOPL'
VINO are injured by the use of coffee. Re
Gently there has been placed in all tn
grocery stores new preparation calet
GRAIN-o, made OF pure sgrains. that take
the place Of coffee The most delicat
stomach rec eivesit without distress, and bu
few can tell 1t from coffee. tedoes not cos
.ver one-qnarter as MUCH. Children ma
drink IL with great benefit. &c and 20
4 n % = 40 80 4 n