The evening times., 1899-05-22

The stock market was inactive and fiat
this morning with a tendency to declining
prices everywhere. There was no support
apparent at the opening, and led by the
Flower stocks the marke; went of grad
ually during the early trading. There was
some appearance OF a rally during the Sec
ond hour, which the bulls thought might
develop into a turn for the better. AS a
matter of fac. there is little to judge the
immediate future course Of the market by.
Too much depends on the individual ef-
forts of the bull leaders, who have II in
their power to advance prices il they de-
sire, or who may let them go lower by
withholding their support. There is buy
ing on the declines always for quick small
profits, which may at any time develop
into larger ones. The ultimate course OF
the market will be upward. according 10 the
best judges in the Street, who are all bull
ish on the general prosperity of the coun-
try.
The strongest stocks on the list this morn
ing were the Federal Steels: No holder Of
these securities is disposed to sell them in
the face of the continued fine reports of the
| trade, and the rapid advances in prices
which make big profits for the steel and
iron companies sure during the coming
year. 1t is pointed out also that the rail-
road developments In Asia, Africa, and
South America, and the steamship building
that are certain to be very large in the
next few years make the steel and iron
trade outlook for many years to come fine.
Federal Steel common went off fraction
ally this morning and then rallied. The
preferred stock was dull, but it made only
a small fractional loss during the morning
hours. There is good buying of these
stocks on all reactions on the theory that
they will advance at the beginning Of any
recovery of the market, and make rapid
gains while the railroad stocks are slow.
Brooklyn Rapid Transit, Metropolitan,
and Manhattan were all weak this morning
on the apparent certainty of the passage of
the Ford bill. 1t was this weakness in
fact that affected the entire market. All
these stocks made a slight rally before
noon that seemed likely to develop into .
permanent advance for the day. Brooklyn
went off to 112, a drop Of two points. but
was supported by good buying orders at
that price. Manhattan went as low as
1O9 "a and Metropolitan to 216 The
earnings of Brooklyn this summer are to
be very large, and whatever the imme-
diate fluctuations Of the stock may be 1t
is not doubted by the friends of the COM
pany that it will sell much higher before
the end Of July.
The grangers were inactive but fairly
strong, Rock Island alone showing Sny
tendency to decline more than fractionally.
The gradual decline of these stocks, how
ever, has carried them to level little
above the lowest yet reached. There is
buying on a small scale for investment
every day in this group. St. Paul in par
ticular is much in favor with conservative
people who do not try to catch the one
point movements of the market.
The Southwestern Railroad securities
are much in favor with investors. The
showing made by these roads this year is
better comparatively than that of any
other railroads.
Pacific Mail sold "ex" dividend Of IL
per cent this morning. There was some
hope among the friends Of the stock that
it would recover the dividend in the
early trading, but instead 1t lost half a
point at the opening. The Pacific Railroad
stocks were also weak, all Of them.
The Vanderbilt stocks are bought on
every recession, especially New York Gen.
tral, by Investors. ss.es, - i.
Washington. otee& EyeAan9s.
sales-Potomac Fire Insurance: s@75;