The evening times., 1899-08-24

The stock market this morning was &C
tive and fairly strong, but good commits
sion buying was offset by realizing that
prices advanced little during the nrst hour
except in one or two stocks. There was par
ticularly sLrong support OF the grangers
and the Pacific securities and these two
groups made gains. Tennessee Coal and
iron declined several points in the early
trading. The Street is inclined TO bullish-
ness, and advises buying stocks on all dips,
conditions, general and technical, nearly all
favoring higher prices. As the end Of the
week approaches there is again comment
on the probabilities in the money situation,
and as 10 the character or the bank state
ment Ii Is said that Chicago and other
cities have sent large quantities of gold 10
New York this week and that the move
ment is still in progress, which Is certainly
one favorable factor. The bugaboo OF the
probability OF big gold shipments west for
the purpose OF moving the crops seems TO
have disappeared largely from the Street
talk II is said that contrary 10 the usual
attitude OF the banks they DO not now ia
Vor dear rates for money on account OF sew
eral large financial transactions, which will
be facilitated by easy rates.
The grangers may perhaps be consider
ed the feature Of the market during the
morning hours. They were active and ad-
vanced fractionally after two or three days
OF inactivity. The statement of the st.
Paul for the third week of August shows
the usual large increase in gross earnings
and IL had a good effect on the group. The
earnings OF the line for the week were
s761, ,130 which is an increase over the same
week last year of SOS, 456. The largest
previous earnings during the same period
were those OF 1892, which were $122, 900
below last weeks figures. The increase
in gross earnings since July /, has been
s1.201, ,343. The talk of increases in the
dividends of ST. Paul and Rock Island were
heard again in the Street this morning.
Northern Pacific. common, and Union
Pacific, common, were both buoyant this
morning, and the preferred stocks also
showed strength.
American Tobacco advanced 130 this
morning on good buying. The advance was
generally regarded as only significant as
showing the excellent control that the in
siders have OF the stock, but in some quar-
ters it was said that some of the most
powerful people in the Street are identified
with the boom of the stock, among them
the Standard Oil interests and the Sugar
people.
The rumor that the dividend will be cut
TO per cent by the Consolidated Gas Com
pany on account of the lack Of profit in
the business since the beginning of the
gas war, is generally believed. In some
quarters ii is even stated that the dividend
is likely TO be passed entirely. The meet
ing of the directors will take place to-
morrow.
There are bearish tips out In good quar-
tiers regarding Western Union. and il seems
very probable that developments touching
this stock in the near future will not be
considered favorable.
There is talk of more satisfactory ad-
fustment of the securities of the Leather
Trust. IL is said that a meeting has been
held at which plan for a better basis for
the stocks was discussed. Both the COM
mon and the preferred stocks are strong.
Tennessee Coal and Iron had a quick de-
cline this morning to "a and a fraction. or
nearly points below the high price
reached. II is probable when this stock
exactly reached par. and then declined.
that the figure would be the top price for
the time being. and such has been the
case. Insiders, however, state very posi-
lively that it viii sell at much higher
price In the near future.
The rumor Of a dividend of per cent on