The evening times., 1899-04-26

The stock market this morning had a
| fine advance with heavy buying by the
| leaders and the commission houses, and lit
tie success. for the first hour or more al
| least, by the professionals who attempted
| TO sell on the rally. Flower was conspicu-
| Gus as were several others of the buyers
whose efforts count In the first hour there
was an advance of point or more on the
| average in the entire list. The large
| blocks Of grangers seemed to show that a
| higher level still was expected What the
| outcome would be few were willing TO ex-
| press an opinion. a good rally was hoped
| for. but there have been SO many traders
advances in the past two weeks. followed
| by recessions equally important. that the
| same course was feared this time as well.
| The most bullish element Of the situation
was steady decline of wheat during the
morning until the May option was selling
below Il and the July only little above
| that figure. This heavy selling Of the sta
pie after the declines of yesterday was con-
sidered an excellent matter for the gran
gers and thus indirectly for the entire
market. The diplomatic situation has lost
all its terror for the time being at least.
The buying of St. Paul and the advance
of that stock to above 129 was one of the
most interesting features OF the morning
trading Thousands of shares Of the stock
were absorbed around l29 and the price
did not seem to weaken under the enor-
nous offerings. The earnings Of the road
continue SO large that it is felt that If any
granger is to have an advance from this
level this stock will. The bulls in the
market are most roseate in their predic-
tions of 1876 and better during the coming
two weeks.
Burlington was soon near 145 and also
taken in large blocks. The price Of the
new 3 1-2 per cent bonds OF the company,
when issued is now above par which
porbably insures more than 6 per cent as
the value of the rights" soon to be dis
tributed to stockholders. This is a most
bullish argument for the stock as the es-
Inmates for the bonds were placed various
ly from so to 50 by the experts" week
ago
Atchison preferred and Rock Island were
both strong, but neither had as large ad-
vances as the other two grangers. Rock
Island went to III Ia and Atchison to g..
Great Western, the Little Granger" re-
ports for the third week Of April an in
crease in earnings Of $4,000. The lack of
concerted support to this stock alone pre-
vents its advancing to much higher fig
ures and when the boom begins in the
general list 1t cannot be doubted that it
will be taken up.
Flower was again a heavy buyer of
Brooklyn Rapid Transit this morning and
there was covering by shorts. The price
went quickly to 1873. The advice during
the past few days has been to buy this
stock heavily when 1873 is passed. and 1t is
evident that the shorts sell 1t heavily
above 1872. 1t is not doubted by the
friends of the company that 140 will be
reached by the stock on the next advance
Manhattan was sturdy this morning but
in the early trading did not make any ad-
vances from the opening price. 123. There
were two matters of news regarding the
road and its prospects, the city govern
ment's apparent wish to condemn the L
structure. on the Ninth Avenue line and
the passage of the rapid transit bill. One
authority gives 1t as his opinion that the
rapid transit bill is more Of a bull argu-
ment than the other is bearish. 1t certain
ly seems probable that the bill will prevent
the construction Of the tunnel for a long
time at least. Perhaps that is what was
intended.
There was tip this morning TO sell Con-
tinental Tobacco. 1t was said that the
clique will let go its stock.
There was excellent buying Of the Nor
folk and Western securities this morning 4
the heavy purchasers
-
Washingten Stosx Eyehange.
Sales-U. 8. 3's. coupon: $200@10S 1-2;
Columbia R. R Gs: 81 500013o; Columbia
r. R. SIS: 81, ,00O6 109; West End National
Bank: 10@127 Ia, 2@12s 1-2. 10@127; LIN
coin National Bank: 100129. 5@130;