The times., 1899-11-15

profits. and Jslore the close the stock had
| declined q tTtfe over a point. 1t Will be
, bought tosay on any further reaction.
The other grangers were much like Atch-
ison preferred in their action, opening high
and declining during the day on realizing.
! The squirt OF these securities on London
buying has perhaps been looked upon with
a trihe of skepticism in view OF the still
unpleasant uncertainty regarding the con-
ditions in South Africa.
Southern Pacific was very strong at the
! opening yesterday morning with heavy pur-
I chases for London and for American inter-
ests as well which caused it to advance
nearly to a before noon. The squirt was
/ followed by realizing in which the Southern
Pacific clique was supposed TO be taking
part. An immense amount Of stock
/ changed hands and the price went off TO
+ q IA. The close was at A II. The Hunt
/ ingJon-Speyer interests probably took the
/ greater part OF the stock sold and il is be-
! leyed by careful observers of the market
that it viii open higher this morning and
/ continue its advance. Mr. Huntington con-
tinues 10 talk optimistically Of the prosper
( iJg OF the system. The earnings are i'm
mense and at the current rate the company
! viii show upward Of per cent earned on
/ the stock for the present year.
Manhattan was one of the interesting
| features OF the day. 1t opened at 104 II,
price so tempting 10 those who bought IL
/ al l01 that there was heavy selling nearly
/ all day The stock once dipped below 102.
/ but only for moment, and during the en-
tire last hour il was bought and sold
around I02. There was evidently a revival
of the attempt TO raid it, but the buyers
/ were trihe more persistent than the sell
/ ers II is interesting TO learn from an Of
fetal source that the Gould holdings Of this
I stock have largely increased during the
past year, according TO the company s
books. The Goulds are careful and shrewd
people and they evidently have great faith
in their property. The company's balance
sheet for the September quarter shows that
il has S13, GOO. coo loaned out and bringing
# in good interest.
a rumor that the Chesapeake and Ohio
Big Four deal is near completion, and that
the two companies viii be one within a
short time seemed TO keep the securities
OF these companies strong during the gen
eral afternoon declines Chesapeake and
Ohio opened at Is. and closed only hall a
point off. Big -Four opened at so IA and
closed at 50 1-2. The story regarding the
deal is that the Chesapeake and Ohio is to
absorb the other system. II is denied
almost as emphatically as it is advanced
and it seems probable that there may be
at least some delay in this consummation
Mr.. ingalls,, the president of both lines
when questioned yesterday regarding 1t,
said that as far as ne knows, there is moth
ing new in the matter. He stated that the
companies are both showing magnificent
earnings, and that the figures would he
much bigger if there were freight cars
enough to go around.
Pacific Mail was very strong at the open
ing yesterday, but, like the remainder of
the list, declined during the latter part Of
the day. The highest price of the session
was 43 SIS, and the close y 1-2. Facts re-
garding several large orders to purchase
Pacific Mail made recently in this city are
strongly suggestive that it viii be advanced
handsomely in the near future.
Sugar was strong, opening at 154 and
advancing 10 155 1-2. 1t declined to
153 1-2 at the close. but compared with
that Of other securities. its record should
be considered excellent. The street is
bulIish regarding the stock, for no partic-
ular reason that can be learned. If the
general market is to be strong, there can
be little doubt that Sugar will be one Of
the leaders OF the advance. as it usually
is.