The times., 1899-01-21


tation for the day was 127 1-2. or more
than half point above the close on
| thursday. From this figure the advance
was rapid TO l32 Ia, or nearly six points
! There was fractional shading off from
| the high mark. New York Central is a 4
per cent stock and at the present price
pays only about per cent on the invest
ment. 1t is a most convincing argument,
not only as TO the faith of the public in
| this road but as to the prospects of other
properties in every way as ''gilt-edged. -
which are selling at considerably lower
relative prices.
Speculation continued actively in Sugar
yesterday, but toward the end of the day
there was the look that the bull move
fnent had ended for the time at least The
high price in recent fluctuations was
| reached, 1874 "a, and afterward realizing
sent the price back TO 132 is, somewhat
| below the opening. The talk of the ad-
! justment of the differences" between the
trust and the outside refneries continues,
but this need not prevent anyone from
making money selling Sugar stock.
| Manhattan looks quite able to make 125.
! the point predicted for il by the knowing
people in Wall Street. The price was
carried on its dizzy ascent yesterday from
! ll2 to lis. and the close was above 116. or
a
same time Manhattan has the record of
! hurting its best friends. and the winners
! this time will probably lose all they realize
| on the next move.
| There was tip quite generally circu-
lated yesterday to bug Leather and a Few
| took the advice despite the failure OF so
many like predictions. Their number was
| not great, however. and the insiders were
the principal gamers by an advance OF
nearly two points net. Leather was the
best Of the industrial stocks.
The talk of higher prices for the Atchi-
son securities continues. The adjustments
were the best yesterday with Il net ad-
vance of more than point, although the
preferred and common stock were both
/ bought heavily at advanced prices Flower
is undoubtedly buying these stocks and
there is good reason TO believe that he is
not yet through his operations. Higher
dividend rates are the common talk of
the street and there is good basis for be-
lief in them. The reductions in expenses
and the increases in earnings make a con-
siderably better dividend on the pre-
ferred stock possible.
The opinion is general that there will
likely be no further advance OF moment
in Omaha for the present.
II has been given ont in high places that
Northern Pacific common is likely 10 have
a good advance. The stock had no ad-
vance yesterday, though there was con-
siderable activity In it. 1t seems prob
able that 80 will be reached today II
the market continues favorable. Mr.. Hill
says that the difficulties between himself
and Mr.. Morgan are in the Imagination
of Wall Street people entirely, and there
is good reason for believing that this is so.
Union Pacific preferred had a good ad-
vance yesterday, but the common was
comparatively neglected. This stock, too.
is one that the street expects 10 see move.
Business on the local exchange yester-
day was large and the number OF stocks
taken up much greater than usual. Prices
in general We're at advances, though there
were one or two exceptions. Henry Hurt
the capitalist was elected a member of the
exchange. He is the gentleman who last
week paid 500 for seat, an advance of
s100 over the last previous price.
New York, Jan. 2O,-Bradstreet's tomor-
row will say:
The continued strength of staple val
ues, accentuated this week by further ad-
vances in iron and steel and other metals
in cotton at the South, and in lumber At
added to the confidence with which the
outlook for the ensuing year is regarded
That this confidence has a fair basis in
fact will be gathered from the reports re-
ceived from the iron and cotton goods
trades the iirmness in cotton goods being
Of considerable interest in view of the de-
preston ruling throughout The greater
part OF last year.
Good trade advces from abroad, re-
duced movement at the South and ten
dency to pare down estimates are reflected
in the slight gain in raw cotton values
this week. The advance shown. however
hardly reflects the urgency noted in the
demand for the better grades of cotton
which this year are scarcer than usual
The iron trade situation remains, as
for some time past a feature OF absorbing
Interest. Large as the production of pig
iron is, eager buyers are found apparently
for every ton offered. Most furnaces are
reported booked ahead on orders and some
advances are frankly stated to be due TO
the desire of makers TO discourage orders
incapable of fu!hlment within any rea-
sonable period. Features of the market
have been gains in prices OF Bessemer and
Southern pig, steel billets, wire rods. and
steel rails, and in addition copper, lead
and Tin are all higher.
Little change is repOrtable in the mar
ket for cereals, and the market Tor cash
wheat still reflects the commanding posi-
ton held By the United States as the
supplier Of the worlds wheat.
There is percCptible Improvement in
the demand for dry goods, particularly
cotton fabrics al New York and Boston
where late advances are firmly held. There
is also mere doing in dress woolens al
those markets.
Reports from the mems wear trade
show little gain. however, and Il number
Of makes OF heavy woolens are opening
below last years prices. The lumber trade
at most markets Is in satisfactory con-
diticn. Advices as 10 general dstributive
trade are quite favorable and spring orders
are reported coming in in good volume at
such centres as Chicago, St Louis. The
Upper Mississippi Valley and at large
Eastern centres with the exception of
Philadelphia, and even here an improved
tone is manifested.
Raw wool is dull hut steady At the
London sale prices have opened higher.
and the prediction is made that present
American stocks OF wool will have to he
replaced at a considerably higher range
of values. The outlook in the boot and
shoe trade is regarded as good, and a fair
business is doing at steady prices in hides
and leather Business failures show a de-
crease from last week, numbering 2G2
against 3Oi week ago, and 800 in this
week a year ago.
New York, Jan. 20.-Duns weekly re-
view of trade tomorrow will say
"A new year rarely opens brilliantly.
Too many traders have to wait for the
demand which in the Winter comes slow
ly. But the industries resist fairly well
the tendency to unlimited expansion.
which some have to meet. Speculation in
products is gaining but little, while in