The evening times., 1899-12-29

The somewhat remarkable advance in
| the stock market begun a week ago con-
| tinued at the opening this morning. prices
| advancing generally during the first hour,
and in some cases reaching the highest
prices of the movement. The advance from
| the lowest price OF last week was all the
| way from to % points, and it WIS quite
as steady and sustained as the tumble
had been. 1t is seldom that the market
sees tumble in prices extending over so
many days with little or no revival of buy
ing as that in the first half Of this month
But it may be said with equal truth that
advances for an entire week with no re-
cessions are also rare. The covering Of
shorts continued this morning, and there
was some outside buying on account of the
general goods news, the ease of money. the
buying of American securities in London,
the continuance Of the same rate of dis
count by the Bank of England and the
general expectation of a good bank state
ment tomorrow. At the same time the
more careful bulls are believed to have re-
allied at least partially this morning, and
il is known that some bears put out new
lines of short sales. Before noon 1t looked
as II the day might witness recession OF
a point or more.
Opinions as to tomorrow's market and
as 10 that OF the first two weeks of Janu- !
ary are most hopeful. Quite frequently
though not invariably. there is good ad- |
vance in prices during the early part of |
January. discounting the large payments |
of interest and dividends. |
Two important reports were given out |
this morning Burlington and the Colo |
rado Fuel and Iron Company both publish
ed their statements OF earnings for No
vember. The former, like the ST. Paul re-
port, was a disappointment, but the latter
was one of the finest ever issued by an in
dustrial company. The November net
earnings Of the Burlington while large and
in themselves satisfactory make poor
showing compared with November of last
year. There is a decrease OF $215, 900. As
in the case Of st. Paul the gross earnings
have increased. but there have been extra
ordinary expenditures for operating ex-
penses.
These two statements Of granger lines
coming together did much to counteract |
the effect of the magnificent Atchison re-
port and it was feared by many that this
group might not recover so rapidly as 9TH
er parts of the list. St. Paul Jagged yes
terday, showing one Of the few net de-
clines for the day, and Burlington went off
this morning. Rock Island was the strong
est Of this group this morning. 1t sold
'eX dividend and had regained good
part of the dividend before IL O'Clock.
The report Of the Colorado Fuel and
Iron Company bears out in every way the
statement in this column this morning
the company and its prospects.
The net earnings for the month of Eovem-
Der were $229, 200 an increase OF S114l6S
1r SO per cent. The net earnings for the
irst five months of the fiscal year were
SS03, 1862. an increase OF $447, 1857 or 126 per
cent. The fixed charges of the company
or the year ending June 30, 1900, will be
5000, 900. These will include bond inter-
sst, taxes, and preferred stock dividend |
L will be seen that already this year there
las been earned sufficient to pay a full
;ears fixed charges with a surplus Of
more than 5000 900.
Sugar was trihe weak this morning.
leclining two points or more. in the first
lour. Opinions were various regarding the
outlook for the stock in the immediate fu-
ure, but it seems probable that the decline
would not extend much further.
Gross earnings for the third week of De-
ember are nearly all excellent Norfolk |
md Western shows an increase of over
10000, Big -Four an increase of more than
16, coo, and St. Louis and San Francisco
n increase Of $1,000.