The times., 1899-05-17

ing the past two days.
One of the best items of the situation
is the continued strength OF the Flower
stocks. All of these issues were bought
heavily yesterday and they all had good
advances in prices and at no time showed
any weakness. They were the features of
the market with the largest gains and the
best general showing. The Flower people
continued to buy these stocks yesterday
and there was in addition heavy buying
Of Brooklyn by MIR. Rockefeller and his
people, a new feature in the stocks
activity The management of the Brook
lyn company is rounding out its system
in every direction by making profitable
connections between the various lines TO
accelerate business. 1t cannot be doubted
that the earnings statements of the COM
ing summer will be wonderful Brooklyn
has now regained two-thirds of its loss
on Saturday morning. 1t sold as high
as 113 Ia yesterday and closed at 112 IA
with a net gain of two points for the day.
II will be remembered that this stock
with the others of the Flower group have
been the ones picked out by the shrewd
people quoted in this column as likely
to lead in the advance in prices. On Sun
day and again yesterday morning the sug-
gestion was made that Brooklyn, Peoples
Gas, and the Federal Steel securities
would soon show good advances in price.
Peoples Gas was also very strong yes
terday, with an advance of 1-2 points
net from the opening. The highest price
reached was III is, and the close was at
III. The recovery of Gas has been the
most rapid in any stock since Saturday.
The low price reached on that day was 10l
Chicago buying has aided that Of the
Flower contingent in this stock.
The steel and iron securities were par
ticularly active and strong yesterday with
large gains well held. The close in all
these stocks was within a small fraction
OF the top price reached and the significant
buying was continued up to the last min
ute of the day. 1t is believed that this
record is likely to be continued today and
new high prices for the movement scored.
Federal Steel common opened at 81 went
as high as 81 rs, and closed at 81 SIS.
The preferred stock opened at rs 5-S and
closed at the high price for the day,
10 rs, The same kind of advance was
scored in the steel and wire issues. The
probability of dividend developments in
the common stocks of both these COM
panies has made the buying of the stocks
by careful spectators large on both days
since the break.
With regard TO the Flower stocks in gen
eral a letter written in Mr.. Flowers office
on Friday last to Washington correspon-
dent is most significant. DO not sell out
Brooklyn or Chicago Gas or the Federal
Steeis this summer" the gentleman writ
ing said, I'VE are buying all Of these
stocks for investment all the time and will
continue to do SO. Everything in the
present and future of the companies is
iine."
The action of the grangers yesterday was
excellent considering the fact that wheat
was strong for the first time in several
days. Atchison preferred especially was
up and bought heavily by good people, in
cluding considerable amounts for London.
The stock opened at SO rs, went as high as
55 and closed at "a rs, with a net gain OF
point St. Paul and Burlington both made
good gains and closed at the top quota
tlons for the day. The sentiment in we'll
informed quarters is more bullish regard
ing these stocks that IL has been for sever
al weeks.
The Vanderbilt interests are apparently
more interested in the present market than
for some time past. They have bough,
| heavily of the Vanderbilt stocks, as Is
| evidenced by the good records made by al
of them this week, and it is known alsC
| that other good stocks have been bid In al
| the low prices now prevailing. 1t is said
| that Vanderbilt brokers were among the
principal buyers of Brooklyn on Monda,
and yesterday New York Central was ont
of the active and strong stocks yesterday
| 1t opened at 131 SIS, went as high as
| 1873 l-2 and closed the day at 1913, with
net gain OF point and half The Unior
| Pacific issues were also well bought ant
both made good advances. Northwest wen
| up nearly two points and closed at tn,
highest price for the day at 1853 Ia.
There was tip out yesterday morning
to buy the Central and Southern Pacii,
issues, and il was evident early in the da.
| that the clique behind these stocks had be
gun campaign. Both hal good advances
| in prices and closed near the top. Th
| optimistic utterances of Mr.. Huntington IL
his recent speech regarding America
Pacific trade is supposed TO have beeI
the cause OF the taking up of his railroad
stocks al this time. The roads are MAXIM
an excellent showing every month.
One Of the noticeable and encouraging
features OF yesterdays market was th'
breadth of the speculation. The usual!
inactive stocks were some of them take
up for the first time in several days. Price
advanced uniformly. In addition to tn
stocks already mentioned In this groul