The times. [volume] (Washington [D.C.]) 1897-1901, 1899-01-28

for the day. The other stocks of this
group, after advancing a point or more
each, also declined 10 the opening figures.
At the close of the day there was good
buying of the entire group, which Ie-
suited in a slight advance in the prices.
AS long as the earnings OF these roads
continue so great the advance in the price
OF the stocks must necessarily continue.
The heaviest liquidation of the day was
in Atchison preferred, which somewhat
surprised the friends of this stock, as
there had been confident predictions that
II would be one of the leaders of the list
this week. II could not be learned if Mr..
Flower was selling his holdings or not.
The position of the road, very similar TO
that of Northern Pacific and Union Pa
cific, as has been pointed out heretofore
in this column. makes il very certain that
if the bull market continues the price OF
the preferred stock must have a considera-
bic advance from its present level
The Reading stocks were comparatively
neglected yesterday, somewhat 10 the sur
prise of the friends of the company and
of the professional people who have been
watching the development OF the plan for
a combination OF the coal roads. No news
of the plan was forthcoming and it is
understood that no announcement is likely
to be made until after the return OF Mr..
Morgan from Europe. The record Of all
the coal road stocks for the past week has
been excellent and there is every reason
to believe that their advance has not yet
reached its climax by good deal.
The earnings statement of the Southern
Railway given out yesterday is in every
way satisfactory. The figures are given in
another paragraph. The reasons why the
stock OF this company is most attractive
to conservative people are many. They
have been reeited in this column hereto
fore One OF them is the actual great in
crease in business that will come through
the acquisition OF Cuba and Porto Rico by
America. Another is the sentimental be
lief on the public in this very development
along the lines of Americas new policy
Then. too, the immense country through
which the Southern runs. and for which il
is the chief or only road, is now at the
beginning of q great Industrial revival
such as perhaps VIII not come 10 any other
section.
The Union Pacific stocks and New York
Central were all irregular in their move
ments yesterday. but before the end of the
day il was seen that they had lost consid-
cradle ground. The cause of their weak
! ness apparently was the very positive de-
D o
/ Vanderbilt. Despite this denial, # is prob
ably safe TO say that AT some time in the
not very distant future this plan is sure
10 be consummated. In every way such a
combination is in line with the present
| tendency toward consolidation and combi-
nation everywhere. More than that. actual
| recent happenings point very conclusively
to the fact that the parties interested have
been considering the plan. There may De
no immediate recovery Of these stocks
! from the effect OF the denial of Mr. Van
| derbilt, but the present level OF the Union
Paciiics at least * not as high ms it should
be, in comparison with its earnings. by
| many points.
| Today seems likely to witness the end
OF the squirt OF the New York Street Rail
way stocks for the time being. 1t is even
| probable that they Will not OCCUPY such
an important position in speculation today,
There are suggestions in some quarters
that Brooklyn Rapid Transit has move