The evening times., 1898-12-23
THE EVENING TINES DE1EMBER 1888

with Wall Street for yeaH Nat there
was never more persistent buying by the
public all over the country and when
! such a condition is present there can be
no application of the ordinary rules of
speculation-as has been demonstrated
very forcibly in the overthrow of the pre-
dictions of a reaction, made by nearly
every authority on the niarkat during
the last two weeks. All that can be said
under such circumstances ~ That when
something happens to cause ithe turn
the reaction will be all the fnofe violent
for every point advance that has been
registered. The professionals have thrown
over their stocks in big blocks and turn
ed bears, to no purpose except their own
. heavy loss. Heavy financial people have
taken their profits and made purchases
! at higher figures. The appearance of the
market up to noon today was that there
would be little If any weakening, even
though the two holidays intervene be-
fore the next chance to take profits.
Prices all over~the list were going up,
and in some cases the advance was as
rapid as it has been at any time in the
entire movement
The Federal Steel issues were both very
strong and there was a continuance of
ffhe buying by Flower and his party APP
parently. The preferred had reached
above SO and the common was within
Efraction of 80 before noon. .aTherelis moth
ing now that can be said of@the stocks.
/ The people that are booming them are
among the strongest in the steet and 1t Is
undoubtedly true that if they wish they
can send both ten points higher with littie
effort. This may happen. but it would
certainly seem the better part to take
/, profits, where everybody that has been
| long has such handsome ones.
| Leather continued its squirt during the
| morning hours, reaching above II quickly.
There is evidence of strong manipulation
/ of the stock. The story is about that
| there is to be an adjustment of the ac-
cumulated preferred dividends. which will
be much to the benefit of the common
/ stock.
Flower is said to have predicted again
Yesterday that Rock Island will go 10 129
| All the grangers were strong today. Their
were two stories in the Street this morn
! ing that had a bullish influence on the
! trading in Rock Island. though neither
| could be positively verified II was said
! that one of the insurance companies had
| purchased I0co0 shares of the stock out
| right, as an investment. The other rumor
was that the road has purchased the Min
| neapolis and st. Louis.
! Several Standard OIL people are credited
with the buying of Spirits. The advance
| has not been great in the stock, and many
regard the movement with suspicion.
Interests closely allied with the Goulds
were buyers of Missouri Pacific yester-
| day and again this morning, and there
! was much talk in the Street of the prob
ability of per cent dividend soon after
January J. This gossip of a dividend for
the stock was in evidence q few weeks
| ago, but received little credence. This
! second appearance of the sterYiis treat
ed with more respect. perhaps simply be-
| cause the Street is at present In mood
! to believe anything of a buliish nature.
The bull talk of Pacific Mail is all over
| the Street today. and there was large
buying and steady advance in the
price. The high record of two weeks ago
was reached and passed in the morning
hours.