The evening times., 1899-03-07


& lower level than the lowest OF yesterday.
Later during the first hour, there was
fractional advance, apparently led by the
coalers, but IL was not destined TO be per-
manent or important, TO all appearances.
There is little in sight OF a hopeful nature
10 the bulls. and the day probably saw
new recruits TO the bear side. A traders
market is still suggested in all the gossip.
The storm is a new element in the situa-
ton In general il viii cut railroad earn
ings, according to its intensity. and in
this particular. OF course, viii be bear
argument. The weather predictions are for
intensely cold weather. and il would seem
that this might induce additional buying
OF the coaIeTs. The several matters fayora-
bic TO this group of stocks make il quite
probable that Reading first preferred, Jer-
sey Central and Ontario and Western may
advance TO new high levels, no matter what
occurs in the general market. The talk OF
this good outlook for these stocks was
continued this morning. and they all
showed strength in the early trading,
Reading first getting above 81. II is con-
ceivable that a strong advance in the coal
ers or some important announcement might
even help the general market 10 a rally.
II is learned today that the meeting of
the ST. Paul directors will not occur until
Thursday. There was nothing in the ac
tion Of ST. Paul this morning TO suggest
that anybody expects better dividend rate
for the stock. The opening was lower than
The close yesterday, and during the first
hour no advance was made. II is realized
that another chance for rally in the
market is in the possibility that the St.
Paul dividend may be increased 10 6 per
cent The increase, however, is not eX-
pected although many believe il should
be made in justice TO the stockholders.
The strongest stock on the list this
morning was General Electric which went
TO l20 IN the first hour and seemed quite
capable of two or three points further ad-
vance. The suggestion generally heard is
that this strength is due TO the rumors
thai the company is to have the equipment
OF the elevated roads in New York. Such
q theory seems trifle out of place, how
ever, when Manhattan is one of the weak
est stocks on the list The latter dropped
below ITO this morning. The earnings of
the electric company for several months
past have been large and the outlook for
new business in general is fine.
The Flower stocks showed no strength
and there was no evidence that they were
receiving any support. Chicago Gas was
at III and seemed likely TO go lower. Rock
Island hung below l16. AtchisOn made no
effectual effort to get above the low prices
OF yesterday. II will be noticed, however,
that these prices are all near the bottom
figures reached in the decline of month
ago. The belief in some quarters that il
would be safe to buy the stocks at this
level with good margins, and with an ex-
cellent chance OF seeing good advances in
the not very distant future. Atchison pre-
ferred, especially is regarded with favor
One Of the rumors which are found float
ing in Wall Street in this dreary time ot
falling prices is to the effect that the
Vanderbilt interests are beying stock in
Southern Pacific with the intention oi
merging this line with the Union Pacific
and Northwestern into one system. Nc
foundation for the story is discoverable
Nothing new was put out today with re.
gard 10 the Sugar dividend. The general
belief is that the regular 3 per cent will
be declared. However, there is belief
in some quarters that the Sugar baron:
have less stock in their possession than fol
a long time past, and if this is the case
IL is conceivable that the Street may bs
wrong about the dividend. Supposing thai
Mr. Havemeyer has little Sugar stock and
supposing that be has sold out many POINTS
higher than this level, IL would not be Z
bad idea, from the stock gamblers point
OF view, to cut the dividend. send Sugar
stock 20 points lower, and then but II bacl
again al the bottom price.
Washington Stock Exchange.
Sales-U. s. as, registered: s20O0@
III Ia. S500Gl11 IL; Capital Traction
2O@S6 5-S, 2O@s6 1-2, 10Gs6 3-4; City ant