The evening times., 1899-09-15

The market this morning was uncertain
in tendency, with a low opening: some
recovery during the first half-hour, and
then a period of stagnaIion and small
fluctuations in both directions With the
exception OF a slump in BROOKLYN and
there was nothing novel in that, the
course Of the market reflected very clear
ly the hesitancy of traders to take either
side. There IS a general feeling of un-
certainty as to what Will be the outcome
OF the present situation marketwise More
hopefulness is expressed regarding the
money outlook, but il still seems proba-
bic that rates viii at least be strong for
three or four weeks longer, even If there
is no squeeze. The chief item of news
yesterday, the failure of the St Paul peo~
pie 10 declare an extra dividend. was also
The chief topic of conversation this morn
ing. The action taken by the directors had
been foretold and suggested by people
close to the inside and il cannot be said
that ii was a surprise. II had been dis
counted largely in the trading earlier in
the day. Nevertheless, the low opening
this morning was undoubtedly due TO the
news, the bears selling some stock and
few weak holders liquidating for fear of
trouble St. Paul, with the grangers. and.
Indeed, the large part of the list recoy-
tred after the opening. Perhaps the ma
3ority Of traders expect professional"
market for the next few days
While perhaps majority of people did
not expect any dividend for St Paul, il
cannot be said that the outcome is sat
isfactory to many. The general feel
ing is that with such an immense surplus
and with such fine prospects ahead for big
business this year, it was due to stock
holders that some addition to the regular
disbursement be made. Suggestions that
the directors of the system are also owners
of the big construction companies that are
given the immense St. Paul contracts for
improvements, and that they thus turn
the earnings over to themselves instead
of to the stockholders, were freely banded
about Whether this is true, or rather
TO what extent it is true, might possibly
be made the subject for an investigation.
Brooklyn Rapid Transit continued it,
recent pretty steady downward course
taking one the sharpest sIumps in the first
hour that it has yet seen. 1t was the fea-
ture of the morning. The price tumbled to
81 with an immense acticity of business
many thousands Of shares changing hands
Five thousand share lots were among the
novelties of the morning, and thousand
share lots were frequent. The Flower par
ty bought 5.0e0 shares in one bo1k at 80
and stemmed the decline for a time at
the stock and the predictions made a few
weeks ago that it would go to so this au-
tumn and winter are obtaining new con-
yerts.
Manhattan was one of the strongest stocks
on the list, getting up TO 1l6 early in the
day Eek" dividend. A revival of the old
story that New York Central is to control
the traction company and run Central
trains over its tracks seems to have beea
the cause OF the strength in the stock. hut
not much faith is placed in the story. II
has been denied by all parties concerned a
good many times. and was specifically ridi-
culed yesterday by both New York Central
and Manhattan people The idea that the
Metropolitan crowd is interested in Man
haitian Is much more plausible and has
much more evidence 10 support ii.
An INN irnnr In, h. H..