The times., 1899-08-19

New York Aug 1s.-The stock market
today continued exceedingly strong and
active. under the same general influences
that have been effective throughout the
week. Todays market, as was the case
yesterday, was further stimulated by pro-
nounced advances in American stocks in
London, and by unusually heavy purchases
OF stocks here for foreign account, the
aggregate takings being about $4,000
shares A pronounced revival of interest
in american stocks was reported in the
London cables. and it is a rather inter-
esting question as 10 what extent this in
terest can be expected TO be maintained,
with the foreign trade balance running so
heavily in favor Of this country as il is
now. Except for the receipt of large
number of favorable traffic returns, re-
ported by railroads in different sections
OF the country, there was little that was
new in the days situation. The money
market was not essentially changed in
any respect, and partly on this account
and partly proceeding from the known
currency movements of the week, ii was
assumed that tomorrow's bank statement
would make another showing Of the sort
that Wall Street calls favorable.
The trading was not only exceedingly
animated in the railway list, but it was
well distributed there. On the other hand,
the industrial stocks were comparatively
duh. Sugar Refining, indeed, was fairly
active but elsewhere interest in the in
dustrial stocks was very limited. The con-
spieuous features of the railway list were
the stocks of the middle grade, 10 which
speculative interest has evidently been
Eeering throughout the week. There were
further substantial advances in the Atchi-
son issues, Missouri Pacific, Union Pacific,
Northern Pacific, Southern Pacific, ami
Louisville and Nashville. Southern Rail-
way preferred was notably strong In the
early dealings, but upon the announcement
OF the declaration Of dividend OF per cent
the stock suffered quite sharp reaction.
The selling Of the stock was OF the ordi-
nary profit realizing kind, 10 be expected
upon the realization of the looked-for
event, and 1t is hardly probable that it
could have been caused by any disappoint-
ment as to the rate of dividend as to-
days action of the directors has been
plainly foreshadowed for some time.
The annual report of the Southern Rail-
way Company. which was submitted today,
was a remarkable and encouraging show
ing for the year. While the outlay for
operating expenses was maintained at the
high percentage of last year, the company
was able 10 report net earnings 20 per cent
in excess of those OF last year The COM
pany's total surplus, after all charges for
the year. was s2094. 500, an increase Of
more than 100 per cent as compared with
last year. and the company's surplus, after
paying dividends Of per cent this year,
as compared with ] per cent in 1898,
amounts 10 $92l.el6. as against a surplus
last year of S4e4. .013. 1t was doubtless a
better appreciation Of this showing which
caused the recovery in the stock after its
forenoon reaction. Other strong features
OF the market, apart from those cited,
were the Baltimore and Ohio issues, Hook
ing Valley, Pennsylvania, and Tennessee
Coal and Iron The local traction stocks
in the main were quite firm, although ap-
pearanees Of feverishness could be still de-
tected in Brooklyn Rapid Transit. The
granger stocks we're more active than for
some time and were uniformly very strong.