Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-10-26
FINANCE AND TRADE
Stocks in New York Almost Reached
Point of Buoyancy.
LOW-PRICED SHARES FAVORITBO
Advance Credited to Good Showing
in Earnings.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star.

Special Dispatch to The Evening star.
NEW YORK. October 26.-An Increase in
the volume OF commission business. partic-
ularly from the west. was one Of the most
pronounced features In today's stock mar
ket. The larger houses bought round
amounts OF the railroad issues showing
some preference for the low-priced shares
because OF their comparative neglecr dur
ing the recent activity.
London did little beyond absorbing the
stocks purchased here yesterday by the
larger arbitrage dealers. The second day
OF the settlements is not usually one Of any
great activity, and today's business had tho
ADDED drawback in the Transvaal crisis
Heaviness rather than weakness was re-
fected in practically all Of the foreign ex-
changes, but the local market was nj times
buoyant, in spite OF this fact.
Standard Oh brokers We're active and TN.
Vanderbilt party showed a further interest
In the specialties which they hay,, mad.
active during the last few days
Inc current reports Of earnings are an
encouraging, and those which apply to the
so-cailed low-priced shares are particularly
encouraging. Atchisons report for Sep
TENDER shows an Increase Of $4Sj. 266 in net
earnings and Indicates very clearly that
the predictions made by the friends of the
property are almost certain of realization
The reports for the third week Of the pres
ent month are also quite up 10 the best that
was expected Of them. Southern railroad
reports gain of Slog aB3 for that week
period. '''''
Earnings on the reorganized roads have
now reached a point at which the rate of
dividends on the preferred shares could
easily be duplicated on the common Good
management will probably dictate extreme
caution in the precedent set during this
time OF unusual prosperity and common
stockholders need scarcely expect more
than moderate rate accompanied period
IcailE with an extra disbursement.
The shares which are coming to the front
because Of the earnings applicable to them
are Union Pacific, Northern Pacific, Mis-
souri, Pacific and Nashville. Strong buy
ing has been noticed in these shares for
several days
The enforced covering in the anthracite
coal shares, right at the close of yester-
days market, seems to have exhausted the
demand for those properties, except in the
more rational form which preceded that
furry. The much-diScuSsed anthracite
consolidation is offered in justification OF
the movement, bat such an explanation
detracts somewhat from the credit to which
the mauipula tors interest is entitled.
The Granger shares and the high-priced
eastern investment shares were well taken
at times, but there was some realization
from sources which bought for Immediate
returns. Since these roads are doing a
business quite up to the capacity OF their
equipment there would seem to be every
reason for the prevailing confidence on the
part of the public.
The shortage of cars which has followed
the demands of trade has resulted in the
placing of large orders with the new car
concerns and has attracted attention to the
shares of the latter corporations. Unfor-
tunately for the speculation IN such prop
critics they are not just now in a class that
is in favor. Over-cap EQUALIZATION is a serious
concern sooner or later, and because of this
fact earnings Of upward OF ~ per cent on
the common shares of certain of the new
steel companies does rot exert the force
sufficient to take the price of such shares
out of the fifties.