The times., 1899-10-25


their names. The Vanderbilt transcouti-
mental railway plan is on foot beyond any
reasonable doubt though how far it has
progressed and how soon il win be an ac-
complished fact probably very few people
know. 1t seems entirely probable that the
Vanderbilt securities may be among the
leaders Of the market during the coming
month.
The announcement Of the intention of
the New York Central to issue SIS. COOS 600
of new stock and sell it TO stockholders at
par was another OF the Vanderbilt news
items. AS stated in this column yesterday,
this issue will be equal to an extra diyi-
lend of about 5 per cent on the Central
stock. This should be considered a bull
argument, though exactly to what extent
The news has been discounted by insiders.
in the past few days it is, of course, i'm
possible TO say. The statement OF the
Central for the first quarter of the cur
rent year is all that could be desired. It
IS safe to say that it passes the expecta-
tions of the street and even of the greater
number of Central people. The company
has earned for the stock at the rate of
10 per cent per annum in the three months
Gs against something like a 6 per cent rate
for the same period last year. Such an in
crease in business is entirely unusual for
the Central.
The grangers were among the firm Sc
curities yesterday, all of the group holding
up well. Fractional declines were the net
result of the days business. but there was
good support that showed itself whenever
any attempt was made to break the group.
AtchisOn preferred and St. Paul were the
two most buoyant of the group, Atchison
preferred closing at 60 and St. Paul at
126 1-2. An interview of Anson r. Flower
published in some of the New York papers
yesterday morning telling of his Western
trip and of the immense prosperity that
he found everywhere was one of the bull
items Of news Of the day. Mr.. Flower
says that the Rock Island is short 1000
freight cars in its current business.
Sugar stock was active, but during the
greater part Of the day rather weak. 1t de-
clined TO 149 from l52 reached on Mon
day Later an advance of a point or more
was made so that the net loss for the day
was small. On the surface the advance OF
the past few days has been due TO the
story of an end of the sugar war and the
decline yesterday was due to the denials
of the rumor. The entire movement is
probably the work of the Sugar people,
however. and they do not need any news
on which TO base their manipulations. The
story Of a settlement of the Sugar fight
may be true or not. The denials Of it are,
Of course, OF no Importance.
Tennessee Coal and Iron did not fulfill
the expectations Of its friends again yes
terday. a net loss of a point for the day
being scored. The close was at III is.
The stock is considered by many specula-
lively inclined people to be a good pur-
chase for a turn at its present level. Ameri-
can Steel and Wire common was weak,
closing at so 3-4. The Federal Steel is
sues on the other hand held their own
well. the common closing at 55 IA, and the
preferred at rs SIS. Conservative people
continue to advise buying these latter
stocks especially the preferred, which ap-
parenuy is quite as safe the better
6 per cent common railway stocks
The net earnings of the Southern Rail
way for the month OF September increased
S39S 600 or at the rate OF nearly S5000, !
600 a year The immense business of the !
company seems to make 5 per cent divi-
dends on the preferred stock, thing 10
be looked forward to in the near future.
The stock had fractional net decline yes
terday. Louisville and Nashville went off
only slightly and closed at 841 Is. Nor
folk and Western preferred was strong.
The Baltimore and Ohio issues were
among the strongest on the list, both ad-
vancing well during the afternoon.
Charles A. Peabody, the official repre-
sentative in this country of William Wal
dorf Astor has given out a denial of the
statement that his client has disposed OF /
his holdings in American securities. At /
present Mr.. Peabody says as far as he /
knows. Mr. Astor has no intention Of sell /
ing out either his Northwest or his Lack |
awanna. Il was noticeable yesterday that |
despite this denial Northwest went off /
somewhat. It recovered part Of its 11-2 |