The evening times., 1899-10-26

The stock market this morning continued
to advance, as it has done with little set
back all this week, Prices in the railway
list and in some OF the indusrrials went
up in a lively fashion that showed large
buying for both accounts. The commits
sion house buying was noticeable, and this
was considered a good sign, as showing
that the public is! beginning to get into
the market with some enthusiasm. The
bears covered heavily in nearly all stocks.
\ reaction has been expected for two days
now after the advances. but IL has not come
except in the shape OF fractional declines.
It seems probable that before the end of
the week there may be a decline of from
poiat TO two points in the active issues
to allow the small traders to take their
profits This should not be considered an
indication of weakness, however. AS
matter of fact the strong bull movement
may be looked for with greater certainty
as long as the public will take its profits
from day to day and week to week. and
not pile up paper profits. The advice Civ
en- by the best houses is TO buy stocks on
small reactions. The general situation is
in every way excellent the only disturb
ing factor being the South African war.
And as far as this is concerned the bad
effects have all been felt, and the street
is now discounting victory for the British
Setbacks for the British might temporary
uuTl liie iIfdfhet, Dut d SlGduy pTOSI6SS Ol
the war or a quick victory for the British
would be considered entirely satisfactory.
For the moment the quickest advances
are perhaps likely to be in Brooklyn, Man
haitian, and a few other stocks in which
the chief short interest has been piled up.
If before this short interest has besn
eliminated the public has gotten into the
market in force a healthy bull campaign
may be expected. Brooklyn went up
point or more above its previous high
price this morning and seemed inclined 10
go higher during the day. Manhattan
went above 49, The tips on Brooklyn are
most confident. The insiders ho'd mo e
of the stock than at any time heretofore
in months. cs
Sugar advanced to above 154 during the
first hour and was active around that fig
ure with good prospect of making fur
ther advance later. The talk of the settle
ment of the Sugar war is still heard in
the Street, but it is still received with con-
siderable skepticism.
The grangers advanced to new high lev
els, ST. Paul to 127 L. Burlington to 124,
and Atchison, preferred to 65 34. The
short interest in st. Paul is said to be
heavy, and there are excellent evidences
that a campaign is being made against it.
Among the liveliest and most buoyant
securities this morning were Missouri Pa
ciflc and other Gould stocks; Louisville
and Nashville, which went to new high
level: Rubber, which advanced two points
to 40. and Colorado Fuel and Iron, with an
advance to Sc. No news was given out re-
garding the Rubber stock but it went up
in few minutes two full points. Louis
vile and Nashville was particularly buoy
ant in the same way that it has been on
many days recently. The advance in its
case Is more surely to be traced to inside
investment buying thapyin any other stock
on the list, perhaps. ae
The coalers continue strong. The Iumor
that the Lackawanna will buy out the Jer-
sey Central is still heard in the Street.
New York Central continued inactive, but
there was good buying in small way on
the theory that the extra dividend involv-
ed in the new issue of the stock has not
yet been fully discounted.
The Leather securities dropped out of
line somewhat. and this was considered
welcome sign rather than a disappointment
by the large number of traders. With one
faction controlling both issues, it is, of
course, quite within the possible that they
may be advanced much further, but, on the
other hand, the pthsE thing is quite as
likely. y g.
American Steel assf ss3ire, common, cen
tinued trifie weak during the morning
The Street had; not much disposition to