The evening times., 1899-04-19

The stock market this morning was
strong and prices advancing, but during
the second hour business was dull. On sew
eral recent days it has seemed that the
professionals have attempted by good buy
ing at the open to create general buying
by the public. This has succeeded once
or twice but usually not. For the time be-
ing the public is little in evidence in the
market which is a traders affair largely.
The public is waiting for prices TO advance
and apparently will get in again after they
have gone up nearly to the top. This is
habit that the public has and cannot
break itself Of. 1t explains why the pub
lie loses money in Wall Street. Despite the
quiet of the second hour however, there
was general impression that prices would
advance later in the day, fractionally at
least. Money was quoted at bid and
asked about the general level recently.
There was no news of any kind except
good earnings reports from several rail-
rodas and somewhat better wheat reports.
The features of the market were the
grangers which during the first hour ad
valced handsomely.
The Weather Bureau crop report for the
week was a most encouraging one On all
agricultural products, but especially on
wheat. From all over the country there
were reports of the best weather and good
progress. This. with private reports in
corroboration Of it. has an excellent ef-
feet on the grangers as stated above. Bur-
lington was the leader of this group ap-
parently on buying by Keene. The stock
advanced nearly to 1i6 and then after re-
receding to 145 began to move upward
again in the second hour. This price is the
best for several days on the stock. st.
Paul, Rock Island, and Atchison preferred
were also strong. although not so bUoyant
as the leader. There was buying by the
public in small way in the entire group.
The earnings Of st. Paul for the second
week Of April have had a good effect on
this group as well as the somewhat better
outlook for wheat.
The earnings of the Southern Railway
for the second week of April show an in
crease of s45,70O. The increase of Missou-
ri Pacific for the same period was $19, 600
Both of these reports are most encouraging
and they show conclusively that the re-
cent strength of these stocks has been
based on a good foundation, even II the
buying has been largely professional up to
the present time The public will buy both
later. Southern fiuctuated around the
highest price of yesterday this morning
and Missouri Pacific went above SO in the
first hour and seemed likely to have fur
ther advance.
The suggestion has been made in this
column heretofore recently that the year
1899 will prove a great industrial year. 1t
is a fact proven every day that large and
important interests in the Street are turn
ing their attention toward the best Of the
industrial stocks. The earning of such
companies as the Federal Steel concern
are already wonderful and before the end
OF the year they will be even more so.
There is the best information that this
company intends to pay per cent dividend
on the common stock. This stock Is now
selling below below 70. The people who
are buying 1t expect to sell for par or bet
ter before the end Of this summer. The
same good prospects relatively speaking are
in sight for other companies in the iron
and steel trades.
Continental Tobacco is a rank gamble
and many conservative spectators will not
touch it. The prospect that the stock will
sell at much higher prices is not suficient
allurement to people who wish for cer-
tain amount Of safety in their investments.
The rumor that Louisville and Nashville
is to acquire Mobile and Ohio is still heard
in the Street. The strength of the stock
yesterday and today lends color to the
story. although the outlook for the road
is suficiently good without any outside in
ducements.
Brooklyn and Manhattan were slow this
morning around yesterdays closing prices
Warrington stock Exchange.
Regular call = Columbia R. R.
SIS, $1,000 at 1O9. West End
National Bank, 10 at 119 1-2; 16 at 120.
Traders National Bank, at 121. WASH
ington Loan and Trust, 20 at 155. Lincoln
Fire Insurance, 100 at II 5-8; 400 at II 3-4;
EAn Hon{fol Traction 20