The times., 1899-10-12


see boom in prices as there was so soon
after the war broke out between this coun-
try and Spain.
There was little news in the market yes
terday Stocks advanced at first and de-
clined later in the day with a great unan-
unity The grangers, the Vanderbilts, the
Goulds and the coalers were all alike, and
the industrials generally exhibited the
same tendencies. The Vanderbilt securi-
ties, led by Big Four. were among the
most buoyant on the list in the morning
hours, and they were perhaps the best
during the entire day. Big Four advanced
from 81 IL TO SO IA, and then declined to
5S II, showing at the close a good net
gain. New York Central, the Union Pa
cifcs and Northwest held their own fairly
well. 1t is whispered in Vanderbilt circles
that developments are likely regarding Big
-Four that viii be extremely beneficial to
the stock though as to the nature of the
supposed good things there is much hazi-
ness
The big increase in the gross earnings of
St. Paul for the first week of October was
the cause OF bulIish talk regarding the
stock, which did not, however, result in
any advance in its price. The closing
Tuesday, although at one time during the
day II sold at lbs Is. The other grangers
followed much the same course as St Paul.
Burlington got as high as 131 Ia at one
time and closed at 100 3-S; Rock Island
advanced 10 113 IA, and closed at 112 3-S.
and Atchison preferred advanced to 63 5-8
and then sold off to 62 3-4. The St. Paul
statement shows an increase in the gross
earnings of about $4,000 The increase
over the earnings of the system in the same
week in 1884 was more than 100000, or
about 30 per cent. This statement, like all
that have preceded il from the grangers,
is of q nature to make the pessimistic
predictions of smaller earnings for the
group look very foolish.
The recent buoyancy in Pullman Com
pany stock has given rise to the rumor
that there is to be a consolidation be-
tween the Pullman and the Wagner people.
There is no particular reason for believ
ing the story TO be true. The suggestion
that extra dividends are to be paid to
Pullman stockholders does not look so
far-fetched.
Gossip regarding the coalers is heard
again IN several quarters that have fore
seen interesting developments regarding
these stocks in the past. 1t is said that
an advance in the freight rates on both
anthracite and bituminous coal is likely,
and ii is whispered that such an advance
can only mean a closer agreement between
the companies. The intimation III one
quarter yesterday was that there is now,
or is soon to be, a virtual alliance in which
the Jersey Central, the Lackawanna, and
one other company VIII Join. Little was
done in the coalers yesterday.
The annual report of the Western Union
shows a surplus after interest and divi-
dends of s104 600 This compares with a
surplus last year of $4,000. The showing
is not q very pleasant one.
There is more talk of combination be-
tween Manhattan and Metropolitan, and
this time it takes the form of an assertion
that the Manhattan is TO obtain its power
from the Metropolitan company. All the
traction securities were weak yesterday,
not to say anything worse of them.
Southern Pacific went with the general
market TO certain extent, though it made
no net loss for the day. There has devel-
oped during the week a bear party in this
stock, owing to its recent gains. II is
possible that it may be forced of frae-
tionally, but there is no stock on the list
regarding which the conservative interests
are more bullish when the outlook for the
coming three or four months is considered
The gross earnings of the company for
September will be something like 100000
to 81 600 900 in excess of the earnings for
the same period last year, and the expecta-
tion is that the net showing will be even
better.