The evening times., 1899-06-16

The stock market this morning was again
inccnsequent and disappointing to the
bulls, who every day expect to see a bull
movement develop out of the traders af-
fair that has ruled for the past week or
more. Pricc> Opened up a trifle in all
parts of the market and then sold OF again
before IL Ocloch, though In this break they
did not reach the low prices OF yesterday
except in one or two cases. The absence OF
buying by the leaders was perhaps the
most noticeable feature of the early bust
ness. anu 1t was the most disappointing.
as II is realized that such buying is the
only thing that can be expected to cause
an advance J this time. The public is out
OF the market to a large exic-t except as
an investor and is waiting for a decided
upturn in prices before 1t will embark
again on the bull side. The outlook for the
immediate future OF the market is not par
ticularly attractive. but on the other hand.
it is not believed that prices will go of
much from their present level II any. The
tendency during the coming months will
be upward and any day may see the requi-
site inside buying to inaugurate the move
ment. Tne news OF the business situation
Is all most satisfactory With the possible
exception Of the uncertainty regarding the
wheat situation which is at present exer-
cising depressing effect on the grangers.
AHS AcSAh6 hcShAuAhS thc TCutIdi Cltci
securities continued most buliish this
morning. although their advance during
the first hour was not great. The divi-
dend is 10 be declared today on the COM
mon stock. however. and it seems certain
that the price will be advanced before this
event. II is said that statement OF the
company regarding its increase earnings
during the past six months Is also to be
given out. a decided advance in the price
Of the common would not be surprising.
in view OF this outlook. The Federal Steel
Company is in a peculiar position with re-
gard to the steel business. II mines its
own ore. which gives it all the profits in
the business. from first to last.
Steel and Wire, common. was weak
again, and soon after the opening had
reached SO 3-4. the lowest price OF yester-
day. There was some buying at this level
on the theory that the stock would be like
ly to advance in sympathy with Federal
Steel, even IL there is uncertainty regard
ing the dividend on common wire. AS to
this dividend, the statements are most
conflicting. but on the whole the Street is
inclined to believe that the dividend will
be declared, as has been promised by pso-
pie who ought to know.
The grangers were weak again today a.
mas Deen 1oteo, on account OF the gloomy
reports regarding spring wheat that have
begun to circulate There was some truth
In general way OF the remainder for the
group. As has been pointed out in this
column repeatedly the granger roads do not
depend on the wheat crop. As matter
Of fact the increase In their general mer-
chandise freight bids fair to be much
larger this year than the loss Of wheat can
be. The most conservative people in the
Street are bulls on the grangers.
The coalers were all strong at the open
mig this morning. Reading first preferred
especially advancing nearly two points
from the low price Of yesterday almost fh-
mediafeiy. The supposftion IL that the
return of Mr.. Morgan b the bull level In
these stocks. and the Street Is inclined to
believe that they will go considerably
higher in the next few days. especially II
the general market IL favorable
Sugar was again strong this morning i
getting above 156 in the eafly trading
and showing q tendency to advance above
that Level. inside buying was noticeable /
In the stock from the beginning Of the day 4