The times. [volume] (Washington [D.C.]) 1897-1901, 1899-03-30
was that it will advance further yet.
Some heavy holders are still unwilling to
sell mt

Rock Island and Chicago Gas, under the
leadership of Brooklyn Rapid Transit were
both very strong yesterday morning and
both made new high prices for this move
ment Later they declined somewhat and
closed with small net loss for the day.
The other Flower stocks, Atchison pre-
ferred and the Federal Steels. were weak
Unexpectedly, and went off more than any
others on the list. The common Federal
Steel had quick rise OF ten points early
in the week and apparently is being sold
on the strength of this. 1t dropped to
SO rs yesterday from a high OF 62 ga.
The preferred stock went TO 80 ga at the
opening. the highest price yet reached by
ii, but later declined to IS LIS, the closing
price. 1t is believed that the preferred
is TO have a squirt in few days, and this
may come at any time if the market is
favorable
The strongest stocks on the list yester-
day after Brooklyn were the Vanderbilts.
New York Central was bought by in
siders during the entire forenoon, and
advanced rapidly to IA 81. Later, with
the general reaction, il went OIL to 142 Ii,
more than two points net gain for the day.
In sympathy with this movement was a
like squirt in Northwest from 100 TO i66.
The later decline in Northwest. however,
was greater than that in Central. 1t
closed at 100 3d. only "a above the open
ing The Union Pacific stocks were both
picked out yesterday morning as proba-
BILE features OF the remainder of the week.
by careful observers of the market but
after opening at advanced prices they
failed TO go up with Central and North
west as had been expected. They were
strong, however, and caused those who
were holding them no uneasiness.
Missouri Pacific is said to be slated for
near the opening quotation during all the
selling in the general list, and finally went
up a trifie at the close showing net gain
for the day. The tip was given by peo-
pie supposed TO be on the inside that there
will be good movement in it within a
very few days, if not Immediately. Mis-
souri, Pacific has been neglected long de-
spite all the talk of the bulls, but it seems
probable that this time it will be sent up.
Another tip yesterday afternoon was to
buy Manhattan. The stock was strong, but
did not advance. 1t is said that pool
will begin work to send it to higher level
on the strength OF the installation of the
new power on the lines. Some people are
skeptical, however, and it must be re-
membered by those who buy the stock that
they may have to put up long margins.
General Electric was weak yesterday,
showing a drop of over three points net.
No explanation was available for the
slump except the general weakness of the
market.
P A. b. Widener, Thomas F. Ryan, and
Anthony n. Brady were yesterday elected
new directors of the American Tobacco
Company. Two per cent dividend was de-
clared on the preferred stock, per cent
on the common, and per cent on the
scrip. The stock declined somewhat from
the high price of the opening. 226.
Pacific Mail went to 90 yesterday. The
friends of this stock, many of whom nave
held it during all its decline. are now
asserting that steady advance to much
higher prices is certain. The earnings of
the company continue to be very large,
much larger than the dividend, and the
Street generally is enthusiastic over the
outlook for it during the coming year.
The coalers still refuse TO make the squirt
that has been promised for them. Reading
first preferred yesterday went off nearly a
point. Ontario and Western declined frac-
tionally. The coming week should see some
stiffening in the prices Of the group and a
boom in them is considered probable.
The amount of business on the local ex-
cnanBe was again large yesterday ana
prices in several stocks were advanced we'll
Brokers generally are of the opinion that
prices will be considerably higher during
the coming three months as business i'm
proves. Some stocks are manifestly nearly
if not quite as high as they will go, bit
it is believed that with discretion good
profits will result from buying at this
time. The business of the exchange dur
ing the past three months has been larger
| than ever before for the same length of
time, and the attendance at the sessions
( is growing.
The bank and the title insurance stocks
are among those which have showed a
tendency to advance for some weeks. The
title insurance companies have been
through dead period for several years,
owing to the dizziness in real estate, but
already their business has begun to in
crease largely and 1t seems certain that
with the spring boom in realty their turn
will come, too. The banks always do a
better business, of course. when the gen.
eral business world is active. Another
group that is beginning to feel the effects
of returning good times is the fire insur-
ance stocks. People are renewing their
insurance which has been allowed to
! lapse, in many cases. during the hard
| times.
The apparent certainty that the sale of
! the Metropolitan and Columbia railways
! will be announced in a few days now
made the stocks OF both these companies
active yesterday at advancing prices.
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