The times., 1899-01-19

It is probable that the most pessmistic
have now given up all hope of a reaction at
present The close of yesterdays market
was one of the most bullish yet encounter
ed in the entire bull market. After "A fore
noon Of uncertainty and fiuctuatng prices
there came in the last two hours ire
mendous buying of Burlington and Rock
Island that sent those stocks up steadily
and more rapidly than they have advanced
at any time heretofore. Much OF the re-
mainder of the market followed their lead
and all over the list there were advances
The indications were that a pool had
formed to put up Burlington especially
and that the public seeing the advance in
this stock had given UP the expectation of
a reaction and commenced buying again.
There is every reason to expect a con-
tinuance of the advance today. Ii is 10
be supposed that there Will be enthusiastic
talk of the advance in the newspapers this
morning and that the public will buy
heavily in consequence. Whether there
will be a recession from the opening is the
question. Many who sold out yesterday on
the advance will undoubtedly work for a
decline in order to get in again. but it
seems doubtful if they will succeed
The Burlington move was the feature of
the day Burlington opened at 1872 "a and
selling no lower than this figure. during
The last hour advanced to 1875 IA, almost
six points gain for the move. The close
vas al 137 -. Such an advance in one Of
the granger stocks is an almost unheard Of
thing. Ii has been many months and even
years since there was such activity in
them. II is supposed that strong pool
has been formed to put up the stock to l4O
perhaps 10 lj0. for the effect ii will have on
the remainder of the market. The profess
SIGNALS have been out of the market for
many days. or short of It, which is worse
There are excellent indications that they
have got in again on the small break and
are now determined to push prices higher
Rock Island and St Paul both had
good advances. but they were so over
shadowed by the strength of Burlington
that they passed unnOticed. Rock Island
closed at Il9 Ia, nearly two points above
the opening and St Paul at l2G - over
a point advanced People who watch he
market carefully are of the opinion hat
st. Paul will he the best buy today 1t has
been the invariabIe rule that St Paul has
kept close behind Burlington in any
moves of the market The spurt of the
latter stock yesterday should. according
TO this idea. be followed quickly by a like
move in st Paul. 1t is probable that
there viii be much buying on this theory
at the opening. Rock Island also is CON
sidered an excellent purchase by the
talent" Accompanying the advance in
the grangers was the rumor of the COM
pletion OF the refunding scheme Of Bur
lington. The immense increase of earn
ings by ST Paul during the second week
of January also had its effect There has
been tip out for several days that Mr.
Flower intended to push up Rock Island.
The earnings of st. Paul for the sec
ond week OF January increased STA 355
The earnings of Iowa Central for the
same period advanced $500. From July
/ the increase was Sl41. 500. Canadian
Pacific, second week of January, Increase
$4,000. Chicago g. Eastern Illinois, same
period. increase s9,4G0 Mexican Central.
same period, increase s45, 200; from Jan
uary i increase ss4,974. st. Joseph &