The times., 1899-01-15

The prominence of the grangers in yes
terday's market was subject of much
comment everywhere. The business in
them was tremendous and their advance in
price surprising even in such market as
this. Burlington closed the day Friday
at 130 IL, under the influence of the buy
ing by the public. 1t receded then, but
later advanced to 1872 rs, a total advance
from Friday night of over two points. st.
Paul and Rock Island followed the same
general course except that Rock Island
was the least active of the three and had
only a fractional advance. The action of
the grangers during the past week should
be enough 10 satisfy even the most eager
speculator. Cats and dogs" are ceasing
to be attractive. One week ago Saturday
night Burlington was more than seven
points lower than at present, st. Paul five
points lower, and Rock Island three points
And, moreover il may be seen by looking
at the market record for the last two
months that the grangers have had a rapid
but steady advance each week, showing
gains with no recessions.
The Southern Railway stocks We're one
of the leading features OF the day. The
preferred advanced nearly two points on
immense buying and the common
eclipsed all recent records by gaining
nearly point net in one day. The pre-
ferred is now at ~ and the common at
IS SIS, both high records in recent years.
1t was a peculiarity of the market that
Louisville still held back. This road has
undoubtedly one of the best records on the
list. in the matter of recent earnings, and
in the conservatism OF its management
but despite the predictions OF many of the
most careful people in Wall Street the
uIC alg
almost The declaration of the dividend
during the past week was expected by al
most everybody TO make the stock ad-
vance, but it was without avail. The con-
fidence of the friends of the road is not
abated, however. II is predicted that BE-
fore the bull movement is over much
higher level will be reached by il.
The Brooklyn Rapid Transit gamble is
attracting more people than ii will benefit
in the long run. One of the sure things"
picked out by the talent yesterday was
this stock. which was marked to go 10 par
before the close OF the session. Instead,
il went off two points, and closed the day
with substantial net loss, while nearly
the entire list was steadily advancing.
II seems probable that Brooklyn will go 10
par, as has been predicted, but it may
have good tumble before, and if it does
have the advance there will be plenty
of time afterward for the public to be
caught. The Nassau dividend, heralded
with such a flourish of trumpets on Fri
day has been consummated for weeks. If
not months. The insiders have been buy
ing the stock from around 80. Around par
they have let the public into their conf
dence. II would certainly seem that the
public has the right to ask the question
mo- 4f,t-i IL has pyty he
Illinois Central is believed by many to
be a good purchase al its present price.
which has been advanced hut little. 1t is
said that the road will be benefited large
ly by several deals, which are almost GER
tain to be consummated.
The pending negotiations between the coal
roads seem likely 10 be much more impor-
tant than has been thought probable by the
Street. II is now said that all of the an
thracite roads, and later the bituminous
roads also. are to be combined, not by some
agreement such as has been tried before
but as one great corporation. "Gentlemen's S
agreements TO keep up prices and to re-
strict output have proven woefully futile
up TO this time, and probably always will.
II Mr.. Morgan has actually succeeded in
consolidating the roads however. il is quite
papers describe the consolidation as vir-
tually completed and only waiting for the
return of Mr. Morgan from Europe to be
announced officially. There is excellent
reason 10 believe that the recent rise in
the coal stocks has been caused by buying
for insiders familiar with the plan.
The Atchisons were very strong yester-
day, the preferred advancing two points
net and the common nearly point. 1t is
given out on the authority of people who
ought to know that the Atchison road is
making plans to get much more than its
share OF the new business with the Orient.
but no particulars are vouchsafed.
The closing session of the local stock ex-
change for the week was marked by several
considerable transactions and by an ad-
vance in prices generally, which is most
encouraging. II may now be said that
Metropolitan Railroad sells at lJf Electric