The times., 1899-11-16

A+AfAN " atAA AEEaAA u ~ -Nth / vi n > AAADAL1s
situation is clear, and apparently it is
very sane and logical position. A Treas
ury official. in conversation with reporter
for The Times, said yesterday.
There is no stringency in the money
market. On the contrary, there seems
TO be plenty of money, judging from
the low interest rate asked by Chi
cago and other centres. For all legiUi-
mate purposes money is abundant. There
IS no good reason why the Govern
ment should come TO the rescue of the
bulls when the bears are on top any more
than that the Treasury should help out the
bears when the bulls have things their
way. They should be able TO take care of
themselves.
The tghtness of money which the pa
pers talk about is confined strictly TO the
speculative class. who sometimes get
caught just about the close of banking
hours The best proof that money is in
plenty is that Of the SOS 0O0 GOO in interest
offered by the Secretary of the Treasury
81 two-tenths of l per cent month, less
than s., Geo coo has been taken by the hold
ers Of bonds. And yet I read in the papers
dispatches the other day that money in
New York was worth as high as 20 per
cent.
Persons having good security expert
ence no difficulty whatever" concluded the
q
they want at legitimate rates Of interest.
Yesterday $1,000 eco was offered in New
York at 1-2 per cent, and / understand 1t
went begging. You can say for me that
so far as | know there is no intention on
the part of the Treasury TO buy bonds,
either for the sinking fund or TO initiate
the market"
Southern Pacific and Pacific Mail, two of
rsyfn the ga
lures Of the market yesterday They were
both strong and Pacific Mail was buoyant
during the last hour of the day. The SELL
ing of Southern Pacific was very heavy
during the early part Of the day, some in
terest apparently having decided that its
profit was sufficient. II is supposed that
members OF the clique that has been boom
ing the stock for speculative purposes en-
tiTely were the sellers. The buying was
al all times little better than the selling.
The Huntington-S -Speyer interests are said
to be acquiring the stock steadily. Mr..
Speyer made the statement yesterday that
he has acquired 200, GOO shares and more,
until now held by the Stanford estate, in
addition to his purchases in the street
He said that the stock viii be held and
not sold at the present time, but as his
plans require all the stock that can be
secured this information was not neces-
sary TO those who know the Southern Pa
cifc situation. The advice TO buy the
stock for much higher prices is given con-
fidenty by some OF the most careful
brokers'.
Pacific Mail has shown a reawakened
activity Tor several days past on account
Of the good earnings, the talk of the sub
sidy bill soon becoming a law. and the
fact that the meeting OF the directors TO
consider the dividend question was sched-
uled for yesterday. The stock was par
ticularly active and strong yesterday, get
ting as high as Al and closing at 43 ga,
with net gain OF point and half The
meeting OF the directors did not take place
until o'clock and nothing was known re
garding its action before the close Of the
exchange, but 1t seemed TO be the general
impression that the regular dividend, or
rather the one paid last time. would be
duplicated. The top price Of the present
movement probably has not yet been
reached Whether the stock VIII continue
10 advance until Congress meets and the
subsidy bill becomes a law, or whether
it Will be sold of soon in order that spec
ulauve Congressmen may secure stock
at attractive prices, remains TO be seen.
Sugar was the feature OF the industrial
list. II opened at 154, declined fractional
". and then advanced to 155 "a, the high
est and closing price for the day. The peo-
pie that have been advising the purchase
Of the stock recently continue to predict
higher prices for it.
The grangers were strong and all closed
at the highest price for the day. Atchison
common was one of the features Of the day,
with quick advance to %, the highest
price attained by il since last August, when
il went TO % rs. This stock has been very
strong for several weeks past and there
have been predictions that it would make
a good advance IN the near future. The
close was at the top and there is good rea-
son 10 believe that a higher price VIII be
recorded on this movement. The preferred
stock was also buoyant, advancing to 65 II
and closing at the top. Burlington went to
131 7-8 The regular dividend was de-
clared on Burlington yesterday.
There is again revival Of the talk Of the
good prospects Of the coalers. 1t is difficult
to discover If it is put out by Mr.. Keene
for some Of his manipulative purposes !
against the public, or if there is really 10
be an advance in prices On account Of the
superb condition of the business OF the
lines. It seems reasonably certain, how
ever, that these stocks viii be advanced
gradually in the near future, the chances
always being, however, for more irreg-
ularity than in other securities of the rail-
way list. The Delaware and Hudson is do
ing an immense business and is said to be
45 GOO tons behind its orders all the time
II is said that the Lackawanna's new man
agement is making excellent savings in
operating expenses 10 increase its net earn
ings.
New York Central was advanced from
13G 10 137 12 yesterday and closed within a
fraction Of the top price Of the day. There
was tip in certain quarters yesterday
morning that the stock would be advanced
and a few Washington traders took advan-
tage Of il at the opening. It is still said
that Central is a purchase.
Union Pacific common was advanced frac-
tionally. II has been very steady on the
recent advance, and although its movement
has not yet been very rapid, people close
10 the management continue to advise its
purchase.
The steel and iron securities were fairly
active and strong yesterday, all scoring
small net gains for the day. American
Steel and Wire has been supported by
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SEASONABLE HINTS.
Guard Your Health in Fall and Early
Winter.
A change from warm TO cold is always at
tended with more danger than from a cold