The evening times., 1899-11-17

/ Ne STOCK NaThtt tulS IHOTuiHS was IT
regular and to this extent unsatisfactory,
showing that sentiment is not yet So
lidified in the belief in advancing prices.
There was heavy profit taking in many is
sues, both for London and for traders on
this side, and on the other hand several
securities exhibited unusual strength and
buoyancy. The news Of the day was all
fine and the Street Is undoubtedly much
better pleased with the financial situation
than 1t was before the action of the Secre-
tary OF the Treasury. The prospect of a
bank statement much better than that OF
last week is good. These various consid-
erations lead careful observers Of the mar
ket to believe that prices are on their
way higher despite the profit-taking that
comes on every advance as a result of the
recent professional market. The advice
given this morning was to buy stocks on
all declines.
The switching of accounts from Southern
Pacific to Union Pacific, common, was more
noticeable this morning than II was even
Yesterday. Southern Pacific went of
steadily to i3 3-S during the first hour,
and despite some profit taking Union Pa
cihc gained fractionally. The outlook
seems to be that the former stock will be
neglected for day or two, though this is
not certain, of course, especially II the
general market is good. There was a
meeting of Union Pacific people in New
York yesterday that may prove to have
been of much Importance. 1t is now learu-
ed that one of the Standard Oil people has
bought heavily of the common stock re-
Gently, and it is suggested tnat he will
probably take an important part in the al
fairs of the company in the near future.
The dividend on the common is now prac-
tically assured. The company is earning
3 per cent on the stock steadily.
Pacific Mail the other of the Huntington
properties, was doomed up handsomely this
morning. on inside buying. Two things
seem fairly certain. The stock will sell
much higher some time in the future. But
il is not likely that this will be before Con-
gress has met and ''the boys have had a
chance to secure stock. Congressman are
human and have their frailties.
The earnings of the Tennessee Coal and
Iron Company for the month of October
were all that the best friends Of the COM
pany had expected. The net earnings were
s262. 200, an increase of s194, 800, or about
200 per cent The fixed charges were re-
duced sufficiently to make the net Surplus
Sa15 700 Since the first of January the net
earnings have been 81 275, 700, an increase
of $634, 400. 1t is an interesting fact that
the net surplus for the year is now certain
to be at the rate of at least per cent on
the preferred stock and per cent on the
common, but this is of very little impor
tance compared with the other fact that the
company last month earned at the rate of
12.5 per cent annually on the common
stock after paying the per cent on the
preferred. The future of the securities of
the concern should be judged by its present
earnings and not by what it was able to
do several months ago.
ST. Paul's gross earnings for the second
week of November keep up to the magni-
ficent standard set in the earlier weeks of
the fiscal year. The figures for the week
were $926,56S, an increase of $108, 8,512.
The increase in gross earnings for the
fiscal year to date has been $1,01S.742. 1t
is said that Rock Island has increased its
earnings $500 day this month. The
grangers were again strong. though not
buoyant, as there was some fairly heavy
profit taking around the opening The
outlook seemed to be for higher prices be-
fore the end of the week.
Big Four has made another good earn