The evening times., 1899-06-26

There are signs well-nigh unmistakable
of better prices in the stock market, and
apparently the bear leaders recognize them
at the outset. 1t will be well for small
sellers of stocks short to do the same
thing in a hurry according TO some of the
most careful financial people in Wall
Street. When immense deals like the
lease of the Boston and Albany by the
New York Central are announced in big
type in the important New York papers,
and when following this announcement
there is immense buying of the Wander
bilt stocks by the insiders, it means not
alone that the New York Central has made
most important arrangement, that will
be most beneficial to the stockholders.
There is very good evidence in it that
bull campaign of some magnitude in the
stock market is likely to be undertaken.
The market has been waiting for leader
ship with all important elements in favor
of much higher prices as soon as this lead
ership was vouchsafed. Now the leaders
have begun to act. apparently. Follow
ing their buying of the standard stocks
the bears this morning covered in a wild
way. The public bought stocks also. The
result was booming market. and ad-
vances in the railway list of one to three
and more points in the first hour. Before
the 1st of July, the prediction is, prices
will be three or four points higher on the
average.
The news of the morning was undoupted-
ly the announcement as to the Vanderbilt
deal. Much mystery still surrounds this
deal, and indeed the people directly inter-
ested have not as yet acknowledged that
anything of the kind has been accomplish
ed. The information, however. is very Ios-
itive as far as il goes. This Information is
to the effect that the New York Central
has leased for 999 years the Boston and
Albany for a guaranteed rental of per
cent on the stock of the road. This lease
Is one of the most important railway trans
actions in recent years, looked at from any
standpoint. 1t adds to the Central sys-
TEN a most valuable link, giving it the
best kind of access to New England. 1t
is said that from the start this link will
add immensely to New York Central net
earnings and put beyond question high
er dividend rate. But this is said to be
not more than the beginning of the plans
of the Central people. II the largest Of the
rumors is to be credited, the great Wander
bilt transcontinental system is not far from
realization, and if much more moderate
estimates are nearer the truth there will
still be most important changes in the
railway map of the country. The Boston
and Albany deal is the work of William X.
Vanderbilt almost wholly. Mr.. Morgan has
been working on some of the other mat
tiers.
The Vanderbilts were naturally the lead
ers Of the market this morning, as they
have been for a week past, apparently be-
cause of the advance hints that important
developments were pending. New York
Central which last week went up several
points. opened with a good advance this
morning at 1856 1-2. and was bought stead
lily until 1t had reached 13S 3-S. before II
O'Clock. Big Four. Northwest, the Union |
Pacifics. and all the other Vanderbilts |
pushed up rapidly.
The grangers opened at an advance OF |
about half a point from the high figures |
of the close OF Saturday. and were very |
strong this morning. although they did |
not at first advance much. st. Paul, be- |
tween the opening and IL o'clock. auctu- |
ated between l2S and 12S L.; Burlington |
hung around 1873 IA and Rock Island be- |
tween 113 and ia. The talk Of the gran
gers was most hopeful. however. and the
outlook for good grain business for the
roads was even better than last week.
The Steel and Wire and Federal Steel |