The times., 1899-01-11

There was another immense day on the
New York Stock Exchange yesterday. The
public bought everything on the list, as it
did on Monday. and prices almost every
where were put up well. There was no
period of weakness and few recessions. At
the close prices went off fractionally from
the highest on profit taking sales by the
professionals, as they have done almost al
ways recently. There is no symptom OF
weakening anywhere and the general i'm
preston now is that the week viii close
with prices even higher than at present.
Earnings statements continue excellent,
money is as cheap as at any time recently
and the public is seemingly as anxious to
buy. The professionals have well nigh
ceased trying TO bear the market, and il
seems now as if the bull market were like
ly 10 run until something startling in the
general news occurs or until the public
frightens itself by some chance large profit
taking.
One feature of the trading yesterday was
the strength of the grangers In the after
noon all these shares had good advances
half a point net for Rock Island and ST
Paul and a point for Burlington. There
was Il strong tip TO buy St. Paul before the
movement in that stock began and 125 was
predicted for it before the end of this
week. 1t is realized by the Street that the
strength Of the grangers is a very strong
bull argument IL is TO be noticed that
there is much shifting OF accounts from
snch stock as the Federal Steel and
Brooklyn to the railroad issues which
means that a considerable portion of the
traders, at least, have not lost their heads
a movement was begun in the Northern
Pacific securities yesterday afternoon and
for time it seemed as if their advance
IA
ever. prices shaded on rapidly, so that the
preferred closed lower than the opening
and the common with only quarter ad-
vance. 1t was said when the prices were at
their highest that Mr.. Flower was buying
them and many tips to buy were circulated
There have been two or three starts in
these stocks which have proved abortive
but if the market continues bullish it is
believed that they will now be pushed up
The Union Pacific issues are also regarded
with favor, especially the common.
Louisville and Nashville is regarded by
careful people as one Of the best stocks on
the list. The dividend rate will be fixed
today and 1t has been given out semi
officially that 1t will not be less than 3
per cent. The guess is that 1t may be 4
per cent. as considerably more than the
latter rate is being earned II is be-
lieved that If the lower rate is declared
the price of the stock will go to 20 and
that If per cent is the figure the price
will undoubtedly reach Is or so before the
stock sells "ex" early in February. The
advance of the stock yesterday was
point and half and the net gain for the
day "a. The high price of the. 1895
movement, 66 is, was reached and passed
the best figure yesterday being &C ID.
Another movement was started in Chi
cago Gas yesterday, but like that of last
week it failed to hold its own against the
large amounts of stock that were offered
at the higher prices. The price went to
l13 1-2 and then dropped TO 112 ga There
was slight net advance for the day and
the people who believe there is TO be a
good movement in the stock In a few days
DO not feel unpleasant over the situa-