The times., 1899-07-31
STOCK MARKET OUTLOOK.
Indications That Speculation This
Week VIII BE Active


The coming week in the New York stock
market will almost surely be a more i'm
portant one whatever its results may be,
than those that have preceded it recently.
The public is apparently more interested
in speculation. London has shown n triae
more interest within the past two DAYS,
The cliques have been at work during the
recent advance in way. that the early
July days did not witness. There is evil
IDENTIFY an attempt OF some magnitude to
infuse life into the market, and it cannot
be denied that there are many elements in
the situation general and technical that
are favorable to the attempt Whether
the cliqucs will be successful with the help
of a public not yet enthusiastic by any
means is the question that Wall street will
watch the solving of tomorrow and later
The elements in the situation that are
not propitious are the hot weather. the alb
sence from the city of many of the largest
operators and important interests and the
uncertainty of the New York money stua-
ton, illustrated somewhat forcibly by last
weeks bank statement. The favorable
matters are of much more real moment.
but it is realized that they are the general
features of the situation that may have no
effect on the immediate market The i'm
mense increases in railroad earnings, the
stupendous iron trade, the, general plenty
of money, cannot fail to have their infiu-
ence in advancing security prices in time
but the immediate fear of tight money on
New York city and the absence from the
city of important operators will be likely
to have more influence on this weeks fuc-
tuations.
The continuance of the fine news of the
granger roads, and the way that their
securities have advanced steadily recently
seem to make it certain that they Will be
among the features of the coming week
The grangers are in way the exponents
of the immense prosperity of the West,
the plenty of money, the big crops last
year, and the promise of eaqually
prosperous agricultural conditions this, the
big purchasing power of the section. the
reawakened confidence. Conservative peo-
pie in the street as well as important
financial interest throughout the country
believe that these securities will be among
the first to advance in price and among
those to show largest gains before the
end of the year.
The trunk lines generally have heen
most prosperous and many of their securi-
ties are apparently destined to reach
much higher prices. The iron and steel
and the coal securities are looked upon
with much favor. especially the former in
prosperity on the earnings of these COM
panes. The Southern and Southwestern
securities generally are all being bought
by shrewd investors who are aware that
the railway systems in these sections are
doing a larger business than ever before.
The past week has been the first TO show
general net gains of any Importance and
the believers in the present market point
to this fact with some confidence.
The more important net advances of the
week were American Tobacco, S1-2 per
cent; Delaware. Lackawanna and Western,
5; Lake Erie and Western preferred, 4 "a;
Louisville and Nashville, a Ia; Lake Erie
and Western, 3-S; American Sugar Re-
fining, and Pittsburg. Cincinnati, Chicago
and st. Louis, 3-4 each: Consolidated
Gas. 2 Ia; American Steel and Wire and
Continental Tobacco, 2 is each; Kansas
and Texas preferred, 2; Southern Pacific.
l "a; st. Louis Southwestern preferred
and Tennessee Coal and Iron, l SIS each:
Northern Pacific, 1-2; Burlington and
Quincy, 1 Is; Atchison preferred. Brook
lyn Rapid Transit, and Peoples Gas.
each; Pennsylvania Railroad and Southern
Railway, rs each; St. Paul, 34; Rock ISL
and. SIS; New Jersey Central, Metropoli-
tan Street Railway, and Reading first pre-
ferred, 1-2 per cent each.