The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-24
FISlHClI AND COMMERCIAL.
MONDAY. Dot. %.

MONDAY. Dot. 70.
There were indications in to-day's stock
market OF a revival Of active public interest In
securities Of all kinds. The dealings both in
stocks and in bonds were greater In volume
than they have been for many weeks past. and
the tone Of the market was strong throughout.
In many stocks the net gains In prices we're
considerably in excess Of per cent. and soy
eral closed two points or more higher than on
Saturday. notably United States Leather
issues. American Tobacco Metropolitan Street
Railway. New York. Chicago and 81. Louis pre-
ferred issues. which ware unusually active.
and fairly long list OF the less active shares.
Tho United States Leather stocks supplied
fully ono sixth OF tho rather large total trans
actions, The net advances Of 81 points re-
corded for them was generally regarded as in
dicating that tho plan for disposlng Of the
accumulated dividends upon the preferred
stock In likely to be adopted by the share
holders as whole. Sugar ReGning and Brook
lyn Rapid Transit were the leaders OF a certain
section Of the stock list. but the Improvement
In them did not exert as decided an influence
upon speculative sentiment as the m ovements
in New York Central G. b. Il O.. st. Paul.
Peoples Gas and Atchison preferred.
The persistent strength OF New York Central
10 amply explained by the staten ent for the
quarter Just ended, which is printed further
down this column and which was not made
public until after the close OF business The
comparatively low proportion OF operating
expenses to gross earnings. though the former
Includes over $7OO 900 spent for equipment
and other extraordinary items. together with
the fact that the company earned net more
than 2k per cent upon its stock, is likely to
compel many persons to revise their estimates
OF New York Central as an investme emit security.
The other i'm portant railway news to-day is
contained in dispatches from the West stating
that the railways there are beginning to ad-
vance their rates. 1t Is surprising that all OF
tho Dom panies have not done so before this.
for It is plain that they being offered more
business than they can handle and that the ex-
penses OF conducting the trans portation bust
ness are Increasing. Labor 10 higher than 1t
was and materials Of all kinds used to keep the
roads in a condition OF efficiency have risen In
price during the last year
For example It may be cited that tho Penn
sylvania Railroad Company has Just awarded
contracts for over 100000 tons Of steel rails
for renewals within the next year. at an adj
vance OF S14 q ton upon the price paid last
year. This item alone costs the company
o.. 400 900 more than last year.
The general considerations influencing mar
ket sentiment were the confident tone OF the
London security markets. resulting from the
success OF the English troops In South Africa
and q lower market for sterling exchange
hore. Foreign arbitraRe houses were unable
to buy many stocks here owing to the prompt
ness with which prices responded to the ad-
vance In London Little attention was paid to
temporary advance in call money rates to 9
per cent.
Among the less active stocks the improving
tendency was most pronounced In American
Ice. in Brunswick. General Electric. Inter-
national Silver. Hooking Valley. Third Avenue
and Wheeling and Lake Erie second preferred.
The closing was strong at only slight recess
Rions from tho best prices.