The times., 1899-04-25


trary. There are bears in the market
but this is always the case.
Tne trading was almost without feature
yesterday. the entire list fiuctuating to-
gether with very few exceptions. There
was an advance in sugar of three points
in the first hour which promised we'll for
the stock early in the day and tailed
exactly with recent rumors that it IS to
have a boom this week The top price
reached was III Ia, better than any last
week. The decline in the afternoon was
large, but not sufficient to wipe out all
the advance and the close was at Let
gain of half point There were rumors
in the street of a patching up of the
Sugar war but nothing official and nothing
that received much credence-
The predictions of large increases in
the earnings of Brooklyn Rapid Transit
were borne out yesterday in the statement
from the company that the increase for
Sunday was over $4,000. The daily in
crease is several thousand dollars, and II
is certain that it will be larger as the
summer advances. 1t seems foolish under
these circumstances to be anything else
than bullish on the stock. The opening
was at 133 yesterday, and from that point
there was a recession 10 13O l-2, where
support was given, as it was last week,
always Nlen l0t price DelON loI
A rally is looked for today if the market
is in the least favorable.
Manhattan was sold off in much the
same way as Brooklyn and closed nearly
two points off at bottom price for the
day. l22 L. Rumors of more troubles for
the company with the authorities were
floating in The street, but could not be con-
firmed.
The steel and iron stocks we're on the
whole, perhaps, as well supported as any
on the list, though they all showed net
losses for the day. American Steel and
Wire common was advanced in the early
trading from 66 IS TO 6S is. but later de-
ciined TO near the opening quotation. The
preferred also declined. There is talk of
a movement in the common stock in the
near future which will probably come If
the general market is good. The Federal
Steel securities and the Tennessee and
Colorado Fuel and Iron stocks were also
fairly well held up. The preferred Fed
eral Steel exhibited a weakness. however,
which was unexpected and disappointing.
The friends of the stock state that they
are not selling IL and the realizing is sup
posed to be by small holders. in fear of
possible dip with the general market. Moth
ing of the kind is in sight, however, and
conservative people were advising the pur-
chase of the stock at the recession yes
terday.
A slightly better tone in the wheat mar
ket with a recovery of a fraction of cent
bushel had the effect OF making the
grangers weak. Declines were made in the
entire group, though Burlington received
some support and went OF less than many
expected Atchison was the weakest OF the
4 inr off
was buying of the stock at the bottom
Nothing new is reported as TO the condition
of the wheat crop, but 1t is probable that
the pessimistic stories will be less fire.
quent from this time on, and careful au-
thorities may be quoted as predicting a
general advance within few days.
| Pacific Mail was one of the weakest Sc
curities on the list, and curious as it may
| seem there was selling of the stock on the
theory that If war with Germany occurs
| this company will suffer directly. On any
| further break the stock will undoubtedly
| be a good purchase, as the meeting OF the
| directors will occur In a few days now
and should be productive of much bullish
| sentiment regarding it.
Louisville and Nashville, Southern pre-
ferred, and Norfolk and Western preferred,
the three stocks which exhibited so much
| strength during the latter part of last
| week. did not escape the general realizing
! Yesterday, and, in fact suffered more than
other securities which were dull on FRI
day and Saturday. Louisville opened at
ss 3-4 and closed a full point off. South
ern closed at 53 SIS, or a point and half
off from the high of Saturday. Rallies
are expected in all these stocks today il
the general market is favorable.
!
The talk in the street was all bullish
on the coalers yesterday, but they declined
nevertheless. II is stated by people who
have had excellent information In the past
that the coal deal is now completed ano
will be announced in some way immedi-
ately. Jersey Central is one OF the favor
ties OF the tipsters.
Business on the local exchange was in
tsresting. especially because of the advance
in Mergenthaler Linotype and Capital Trac.
lion. both of which stocks were bought
heavily at prices much above any hereto
fore recorded The general market wa.
brisk. however, over 1000 shares of stocl
changing hands at almost uniformly bettel
prices. More than 100 shares were bough
and sold OF each of the following: Capita
Traction, Mergenthaler. Graphophone com
mon. Lanston Monotype, Washington Gas
and Pneumatic Gun.
Mergenthaler Linotype WAS especial!
buoyant. with an advance OF 2 IA from 1876
the low price OF the day, to 1877 Ia. th'
high. The advance of this stock In thu
past two weeks has been rapid and steady
| and Il Is understood that there are ye
many orders to purchase untitled. Th
following telegram TO Mr.. J. o. Clephane
a director in the company, from Presiden
Dodge, received a few days ago, explain
part at least OF the bullish feeling regard
ing the stock recently developed:
New York. April 20, 1883.
James o. clephane. Washington. d. G.:
Any allegation OF intended consolidation or pH
chase by Linotype Company impudcnt falls.
hood. Lans,on not needed or wanted. Linotyp'
extensively used in book ofaces in highest grad'