The evening times., 1899-07-25

Prices in the stock market this morning
after opening at about the level of yester-
days close advanced with some spirit dur
ing the first hour in most securities. The
market was in this way and in noticeable
| buying by insiders, in few securities,
much better than that of yesterday. The
early business was not, however, large or
important and there was little expectation
that prices would get more than fraction
ally higher. There is no reason to change
the opinion held by careful market critics
for several days that duilness and a small
see-saw of prices is likely TO continue for
some time yet, perhaps until the latter
part of August or the first Of September.
| There is no change in the geenral situation
or in the technical matters that have been
| influencing the market. The St. Paul state
ment for the third week of July was ap-
parentiy the reason for the buying of Sc
| curities but although II was all that could
have been desired by the most ardent ad-
mirer of St Paul, there is not enough buy
! ing power in the market to cause any large
| rally.
| The st. Paul statement shows that the
| gross earnings of the system for the third
week of July were s7S4,479, which is an
increase of s216, ,220. The gross is $500, 600
larger than in any similar period before in
| the history of the company. 1t is a gain
ST. Paul advanced this morning to 132 1-2
quickly and seemed destined to reach 1873
! before the end Of the day. Rock Island
and Burlington were also very strong at
prices above the highest of yesterday, the
/ grangers as group being stronger than
any other. The buying of these securities
| for investment continues and there is ev-
| cry reason TO believe that their prices will
be much higher this year. The ST Paul
crop reports are most encouraging espe-
cially regarding corn.
The Vanderbilts were strong this morn
ing, New York Central especially taking
the lead of the market with an advance to
above 141 in the first hour. Pennsylvania
also advanced and for this reason perhaps
people continued to talk of the alleged
| combination in embryo between the two
| systems. No official or semi official con-
| irmation of the story could be obtained
An all sufficient reason for the advance in
Central, in the opinion of many conserva-
tive people. was the continued increases in
| earnings of the system this month AS
! stated in this column yesterday there is
| little doubt that this increase will equal
at least s1,oOe.OO0.
The Southern Railway report of earn
ings FOR June and for the year is entirely
| satisfactory as had been predicted For
| TIC lioHtu tAe SEOoS tdfHlUSsSf were $Z,l1Z,-
| 911. and increasesof $389. .604. The net for
the month was $5o5. .1s8, an Increase of
s106, Isl. The gross earnings of the sys-
| tenn for the year were $25, ,353, 6SS, an in
crease of s2,S64.7a7- The net for the
year were s7.s97, $50, an increase of 81
| 025,577. The Increase in the net is 2 per
| cent on the preferred stock.
The talk OF American Shelters is much
more hopeful than for some, time past. 1t
| is said that all the plants of the trust will
be obliged to run full time and perhaps
double time for an indefinite period in the
future, the ore having piled up tremen-
dously during the strike troubles The
men are going back to work in most cases
There was a trifle more activity in the
ircn and steel securities this morning
! The opinion of experts is that there is
everything in the situation of the trade to
make even higher prices likely during the
coming months. AS yet the foreign trade
has hardly been touched owing to the inn
mense untitled demand on this side. And
this outside business is practically unlim-
| tied.