The times., 1899-03-23

e =
on the other hand a constant buying de-
mand The statement was made yesterday
that certain prominent firm Of brokers
has purchased in the past three days 10000
shares of the stock in the belief that it will
go to 120 before the end of the month. All
the information obtainable regarding the
company is of the most alluring nature.
The entire railroad system OF Long Island
seems likely soon to be in its control.
There is also positive talk Of dividends for
the company in a short time.
The coalers were very active and strong
in the morning hours, and although the in
rest in the group was not so great in
the afternoon, their record for the day was
a most satisfactory one. Reading first pre-
ferred went up two points. and after de-
cline closed more than a point in advance
of the opening Jersey Central advanced
IL points, and closed two points above
the opening. Lackawanna showed net
gain for the day of 1 SIS, and Delaware and
Hudson net gain OF one point. The excel
lent Delaware and Hudson annual report
had favorable effect on the group, and
the talk of the coming announcement of
the deal among the roads for the protection
OF rates was also reassuring. The opinion
of the street is still very bullish on the
stocks.
The grangers were strong, despite the
advance in the price. of wheat. which was
attributed to unpleasant crop reports. AS
matter of fact. the chance OF an actually
poor wheat crop is so small that bad re-
ports have very little effect on people who
know how easy IL is to get up bad reports.
Burlington and st. Paul were the best OF
the group for the day. 1t was supposed
that much OF the buying OF the latter stock
thp hot txi1 inl ~
recover the dividend today. The grangers.
and especially Atchison preferred and Bur-
lington. are considered among the best
stocks on the list for conservative speeu-
lation. 1t is not doubted that before the
end of next month they will be at a ma
terially higher level and an advance of
from Is to 25 points is expected before the
end of the summer.
There was Il good advance in American
Steel and Wire common stock yesterday,
which carried the price up two points, to
Ga 1-2. The close was only an eighth from
this high for the day. The tip that
there would be an advance in the stock was
on the street early. member Of the pool
was quoted as saying that the stock is to be
put up steadily for the next month or
more. and as predicting that 20 will be
reached by 1t. There is nothing in the
least unreasonable in this in the face OF
the prospects of the company, and the
promising outlook for the general market.
Federal Steel preferred and common are
also much, liked by some of the market
leaders. The only fact that Injuries the
prospect of these steel and iron stocks
now is the tendency to discriminate against
the industrials shown by the lenders OF
money. The insiders. however, do not
need to borrow money, and II they wish TO
ptf nm pricas en- xrft a
trouble.
Tennessee Coal and Iron was less active
| yesterday, but nevertheless showed good
strength, which was most reassuring TO the
| friends of the stock. Nothing new as to
the alleged deal between this company and
| the Federal Steel people was disclosed dur
ing the day.
| Pacific Mail showed some activity az one
| time, and the price was sent up fractional
| ly. People who have watched the course
| of prices in this stock are of the opinion
that it is getting ready for an advance.
| The centre of interest In the local stock
exchange yesterday was Washington Gas
| Upward of 500 shares of the stock changed
hands between 5S Ia and IS 12, the low
and high prices for the day. One broker
| bought more than 500 shares. and seemed
willing to take all that was offered around
| IS IA. The value of the stock sod ap-
proximated $4,000. There were again ru-
mors that the gas company is to be in
| cluded in the purchases of the people rep
resented by the Stevens Crosby syndicate
| but no additional facts could be learned in
support of this belief. The stocks OF the
Metropolitan and the Columbia railways
| were also strong yesterday, though sales
were small on the board.
The entire business of the exchange yes
| terday outside of Gas, although it was fair
| ly good, did not equal in value that of this
one stock alone. City and Suburban was
In demand at around 4S. Capital Traction
was active at So and better.