The times. [volume] (Washington [D.C.]) 1897-1901, 1899-06-26
STOCK MARKET PROSPECTS.
Better Crop Outlook Has 81 Cheerful
Influence on Values.

New York, June 25.-The coming week
is looked forward to with much interest
by all factions of Wall Street. 1t is real
lied that it gives promise more than any
recent week of furnishing a decisive vic
tory for either the bears or the bulls. The
action of the stock market on Friday and
Saturday Of last week showed new ele-
ments in the situation which the friends OF
prosperity believe to be most important.
Crop damage recitations cease, and Wall
Street is inclined TO believe that, after all.
We are going to have normal harvests.
Bumper crops may not come, but trust
worthy indications promise surplus in sub
stantial volume to meet export require
ments. Crop reports from Europe tell of
damage in important districts, and there
is small doubt that there will be large
foreign demands upon us.
Aside from crop damage tales, now
pretty fully disposed of, there has been no
factor in the situation warranting any
thing other than confidence in Western
railway values. The granger stocks are
likely even to be leaders in security mar
ket Improvement as soon as new activity
starts, and there will be new activity as
soon as Wall Streets chief leaders show a
disposition to get back to work; in large
majority they are now enjoying vacations.
apparently content to let the market drift,
subject to the petty nagging processes OF
the little traders OF the street.
Developments approach in local transit
properties. Strenuous efforts are made to
! keep negotiations quiet, but there are facts
of Importance which even adroit efforts
cannot disguise. The Metropolitan Street
Railway and Brooklyn Rapid Transit Com
panies have undoubtedly come very close
| together as regards the personnel of their
control, and Wall Street will not be sur
| prised by an early announcement of an
| interchange of directors between the two
| corporations. The Flower and Brady in
! very close and agreeable relationships
with Messrs. Elkins and Widener, and Mr.
| Whitney. Rumors in plenty circulate sug-
/ costing that the Third Avenue and Metro
| politan are also figuring in impending con-
| solidation deals, but authoritative state
ments to this effect are not available.
| The return of Mr.. Cornelius Vanderbilt
| and Mr.. W. X. Vanderbilt from abroad is
| construed in Wall Street as significant OF
make official announcements out of the
ordinary. Both Eastern and Western rail
ways in which Vanderbilt interests contro
have been conspicuously strong features
of the stock market during the past few
days, and friends of Mr.. J. Pierpont Nor
gan are full of enthusiastic predictions Of
large accomplishments close at hand il
New York Central and allied properties.
The industrial quarter is the only one
in which trouble may be looked for, and i
is a most reassuring development in re-
cent market business that the street seem!
disposed to divorce the industrial GROUP
from the railway issues large moro
largely than at any time herete :. The
earnings of the better class OF ni,se, tria
stocks have been, and continue to be
phenomenal and on the whole the dispo
sition is undoubtedly to believe that thes'
earnings will have their legitimate reward
in much higher prices in the near future
The short-sighted policy, not TO use NOR,
unpleasant term, of some of the trus
arrangements will probably be overcome
by somebody's good sense in some wa!
ultimately.