The evening times., 1899-11-08
BROKERS RESUME WORK
Stocks Open Active After the Flee
zion Vacation.
Louisville and Nashville Conspicr-
GUS Fenture-Heavy Dealings Also
I'm Southern Pacilc-London Mar
kets Show Slight Changes-Pres-
sure ON Brooklyn Rapid Transit.

NEW YORK, Nov. S.-The stock marke,
opened active, and in the main with ad-
vances. as compared with Mondays clos
ing prices. but it soos developed an irreg-
uIar tendency. On the whole, a favorable
construction has besn put upon the upshot
of the elections yesterday and the results in
Kentucky were received with especial IA
vort Owing to the latter, Louisville and
Nashville was a conspicuously strong fea-
ture of the market.
The London market was shown at slight
price changes. but foreign houses were not
very active, in the local market. Apart
from Louisville and Nashville, the strong
est feature at the opening of business was
Southern Pacific. and the trading in the
stock was exceedingly heavy. United States
Leather, common, was also heavily dealt
in, and the stock broke over three points
in the opening transactions The other in
dustrials were not particularly active, and
for the most part moved in line with the
railroad list.
Brooklyn Rapid Transit showed good
deal of pressure, while Manhattan was
comparatively firm.
The stock market this morning was ac-
i've and strong after a good opening at
prices a. .triae better than the closeTof Mon
day., The buying was undoubtedly due to
certain extent, to the result Of the cleo
tion in Ohio, but on the whole II may be
said now, as IL was by many before the
elections that the market is really little
affected by any outside influences except
the great prosperity of the country. The
best opinion of the situation in the street
today was little different from that ex-
pressed by the same people last week.
Tight money, temporary defeat for the
British in South Africa, and a failure of
the Republicans to make sweeping vie
lory might delay the boom of the market
Or they might not; but the worst that they
could do would be to delay it. Nothing
short of great catastrophe should be ex-
pecteG to cause a serious break in prices,
and anything less than this will not pre-
vent the present holders of securities, the
strong financial interests, from advancing
the level materially in the Iear future
The advice given this morning was TO buy
securities, and especially the Pacfics and
other low-priced issues, on every break.
The strongest securities among the rail-
way list this morning were Southern Pa
cific and Union Pacific, common, which
ings. The news regarding these stocks
has all been of the best character and il
Is said that other announcements will be
of an even more encouraging nature. The
ability of the Southern Pacific to earn a
dividend on the stock seems to be proven
to everybody's satisfaction. This year the
showing will be more than per cent. The
earnings of the Union Pacific will also
shcw more than per cent on the COM
mon stock.
Sugar was advanced handsomely to 159.
two points or more in the first hour The
outlook seemed to be excellent that it
would go higher. Nothing new regarding
the stock or the Sugar trust was learned
As was to be expected the friends Of
American Cotton Oil are jubilating over
the per cert dividend for the year on the
common stock. The earnings CT the COM
pany are somewhat over ) per cent for the
year SO that there will be good sum TO
add to the undivided surplus. The busi-
ness of the company is increasing rapidly.
Burlington was the most buoyant Of the
grangers, Atchison. preferred. being a close
second. Gossip in the Street is that a
move Of some Importance may be expected
in Burlington shortly. Investors in the
stock do not fail TO remember that the
refunding of the company's bonds has not
yet been carried out except in one small
instance. The financial officers of the COM
pany are working on the refunding plan,
and from time to time other portions of
the bonds will be retired for new issues
paying lower rate of interest thus max
ing the stock at all times attractive Atch-
iSon, preferred. was bought this morning
with the same persistence that has charac-
terized the demand for ii for many weeks
past.
Leather common, was weak and most
unattraetive this morning. 1t opened at 40
10 81 on immense sales, and declined
steadily during the first hour to below &c.
showing little tendency at the low figure
to recover. The preferred. on the other
hand was more buoyant thar for several
days past. a fact that led many to believe
that the pool in the common has given up
its work, for the time being at least. The
entire boom of the stock has been one OF
the worst exhibitions of manipulation seen
in the Street for long time
The steel and iron securities were buoy
ant and active this morning, and many
were of the opinion that the boom in these
securities has begun. Reports from the
iron people are TO the effect that the de-
there is not the slightest expectation of
lower prices for months TO come Heavy
buyers are even beginning to place their
orders for the latter half of 1900
Pacific Mail spurted up two points this
morning on what looked as if il might be
pool buying.
Manhattan was very weak, somewhat un-
expectedly, after the first hour. Two rea-
sons were given for it, a general belief
that the amendment making the under
ground rapid transit plan possible had
won, and a statement of the company for
the year ending September 80 showing a
deficit of 1000 or more The price de
clined to los on heavy selling. apparently
largely for the shorts. The remainder Of
the market declined after the first hour
somewhat, in sympathy.
Washington Stock EXCHANGE.
Regular call-Chesapeake and Potomac
Telephone Con. SIS. s12.0OOd1OS; Potomac
Fire Insurance. 10@s0; Columbia Tite In-
surance, 10@5 1-2: District Title Insur-
ance, Gas. SIS, 35@3 1-2: Capital Traction,
20@9f rs. sass; Washington Gas, 1O6
"a I-S- MerpanfhaIer jpoty,a 1oE,onc