The evening times., 1899-02-23

The opening OF the stock market after
the holiday was a most interesting affair
productive OF hopes both for the bulls and
for the bears. London today was very
strong in the prices or American shares.
There was considerable short covering ow-
ing 10 the settling yesterday, and it was
said also that there was buying for New
York houses. The meaning of this was
differently interpreted, but on the whole 1t
was considered a favorable sign to see
Atchison preferred and common and sew
eral other stocks from a half TO point
above Tuesdays close. The opening In
New York was high, about on a parity
with London, but Immediately there was
heavy realizing which sent prices of from
a point to half point, especially in the
standard stocks. At little before IL
O'Clock this movement seemed to cease
largely and prices began TO climb slowly
again. The bull houses are persistent in
their assertions of belief that a new high
level is to be attained from this time on.
The activity Of the industrial shares, and
especially those of companies connected in
any way with the iron and coal trade show
ed itself again this morning Tennessee
Coal and Iron was very strong at adyanc-
ing prices and despite the general belief
that the company is a losing investment
with no particular future. il is said that in
siders are buying the stock and talking Of
large earnings for the company. 1t is GER
tain that II the concern is ever to make q
good record il should do so when the con-
dition of the trades with which il is inter
ested is so fiourishing.
The American Steel and Wire securities
were buoyant under heavy buying by in
sders. There is more bullish talk Of the
Common Steel and Wire than of almost
any other stock among the industrials The
preferred stock is TO receive per cent and
the company will earn much more than
this amount from the beginning. The pub
lie has not bought these securities to any
extent, because they were dead. but as soon
as the insiders put them up well il is TO he
supposed that they Will be able TO unload
on the outsiders.
The virtual settlement of the Chicago
and Alton deal continues to have its spur
ring effect on the stocks of railroads sup
posed to be identified with the deal. Point
ers are numerous that Missouri. Kansas
and Texas will have a fine advance Mis-
souri, Pacific also is well bought, and the
subject of much bullish comment.
The action of Pacific Mail is most in
teresting. Washington is still sending
over TO New York advices that the subsidy
bill is to be rushed through near the end
OF the session, ana despite Ine appaTent
impossibility of this, New York places
much reliance on the influence of Mr..
Hanna and the other gentlemen who are
fathering the measure. The large Wash
ington holdings of the stock are not sold
either which makes another reason for
confidence. Many friends of the company
protest that Mail will advance well whether
the bill passes or not, owing TO the unique
position of the concern in relation TO the
future business of America in the Pacific
The grangers were attacked by the
shorts. as well as being sold heavily or
realizing orders, in the early trad ng
Later they were strong and rega ned q
part at least of their early losses. st
Paul is the subject of much confident
bullish talk, despite the way in which the
storm cut it's earnings. One suppositioI
on which both st. Paul and Rock Island
are being heavily bought is that they Will