The evening times., 1899-03-04

The fluctuations of the stock market this
morning were largely due to- the bank
statement, the buying in the early part of
the session rejecting general expectation
Of good showing and the selling later in
dicating that the statement was not liked.
During the first hour and a half prices went
up well in some cases and here held strong
| ly all over the board. When the state
ment came in there was quick drop in
prices which. however, did not 90 far. On
the whole the action of the market was eX-
celent, showing strength hardly expected
when the large decrease in reserves was
noted. Opinions vary as to next weeks
prospects. The buying by Flower and 9TH
ers and by the public for two days now has
been good and some authorities believe
that the statement will not hurt the bullish
sentiment engendered until prices have
i got up point or more. On the other hand
| 1t seems likely that neither advances nor
declines will be important for several days
| to come. owing TO the two-sided condition
| of the market-a traders affair.
| Steel and Wire preferred was one of the
| bull features Of the day. There was a tip
out that bull pool had been formed 10
| put the stock up, and Mr. Flower was gen.
! orally supposed TO be in the pool. At any
| rate, he a buyer of the stock. An ad
vance began Immediately after the opening,
| anu DelOTe lne SSSSlOH was udil over IL Hdu
gone up 3 points. The common stock was
| also strong. The Federal Steel securities,
while not active the Steel and Wire
stocks, also made good showing. This
disposition of the Steel and Iron stocks to
| show strength as soon as there is any
buoyancy in the general market, is taken
| as an excellent indication of the DISPOSE
tion on the part of the leaders and the
public to take them up. This tendency
has been noticeable for some days. The
declaration of the per cent rate on the
| Federal Steel preferred stock helps the
! movement along.
| Atchson preferred was strong today for
| the same reasons which pushed il up yes
| terday. Flower and other bulls continued
| to buy the stock, and the bears who had
| not covered did so at the opening. The
| public also bought, and there was little
| disposition after the first half hour to
liquidate on the advanced prices. The
| Standard Oil interests were again said to
be buying Atchison is now earning on
the preferred stock something better than
| per cent.
! Tobacco was strong and active again
| around the highest prices Of yesterday.
People who a week ago talked OF 200 for
| the stock have now moved up their figure
| to 225 as the probable top of the advance.
AS matter of fact, the public generally
| is away at sea on the entire Tobacco sit
uation and is neither baying rnor selling
the stock for that very good reason. 1t
may be that general consolidation of
! Tobacco interests has been effected which
will make the position of 'theHTrust better
than ever before. But the average trader
does not care to risk his money on any
such possibility. -
The Rock Island statement for January
shows a decline in net earnings of $56,0S2.
The income from all sources increased
O,30S, and the surplus after charges in
creased $399.57. The statement is not a
rosy one but the general expectation was
that the terrible weather in the West
would cause decreases earThe granger
stocks showed a waiting attitude during
the early part of the session today and
when the bank statement arrived had
moved little in either direction. They
were sold off point on reinstatement but
showed some strength and support at the
| lower figures
The Subsidy bill was not passed today
and only the small possibility of action at
an extra session now remains as buoy
to the hopes of the measure. Otherwise
| it will not see light again for nearly a
| year. Pacific mail was rather weak today,
but not sensationally so by any means.
At one time indeed it rallied to As. 1t is
,r,f halle hot fhn rar will