The evening times., 1899-08-19

Mr. Keene and his coterie and their
subsidized Wall Street papers continue TO
say that no advance can come in this
market. An interesting theory, but not
particularly convincing one in the face OF
the fact that the market continues to ad-
vance. Today's market was very strong
in all the railway shares and somewhat
weak in many of the industriais. It was
one of the best days in its general features
that the market has seen in three or four
months. There was large buying Of the
grangers and other railway securities be-
fore the bank statement. and although the
statement was not as good as that Of last
week 1t induced very little realizing, and
prices continued to advance after 1t ap
peared. The close was at the top prices
for the day. in most cases at substantial
gains over the close of yesterday. The
outlook is undoubtedly excellent for next
week and there are many that believe
prices will continue to advance steadily.
Money was loaning at per cent at the
close today fact which with the bank
statement seems to indicate that there
need be very little fear of tight money in
the immediate future at least.
The bank statement figures were as fol-
lows: Reserves increased ssS5,975 loans
increased. S1,e4S.600; legals decreased,
SS45, coo; specie increased, 81 652 500; de-
posits increased 81, ,2S2 500; circulation in
creased, S74, 100. There is more money in
the banks. and, despite the fact that loans
have increased, the reserve has increased
nearly 900 also.
The grangers were the feature Of the
railway list, all making handsome gains
and closing at the top prices for the day
st. Paul especially was buoyant, getting
into territory that has not been reached
before in many years. The top price reach
ed was 1874 3-4. the close being at 134 5-S.
Atchison preferred also made hne squirt,
reaching 66 7-8 at the closing sale. Rock
Island went to 12e Ia, and Burlington
1877 rs, and both closed near those levels.
This is the first strong upward movement
that these securities have made in nearly
two months. At the beginning of July
they were at a level of prices practically
as high as that of the first part of this
week. The stocks were at all times strong,
but did not seem inclined to advance in
price. The huoyancy OF yesterday and to-
day, therefore, Is especially welcome The
bears have been laying particular stress on
the fact that the grangers did not advance.
The Vanderbilts were strong, Union Pa
eifie common especially being more active
than for several days past. The high price
at the top. The preferred was also strong.
New York Central advanced point from
ths low price of the opening, getting as
high as 129 ga. The Union Pacific shares
are considered among the best Of the low
priced issues.
The Northern Pacific issues were strong
but made no new high prices. 1t Is stated
with some positfveness by officers of this
line that the Clearwater trouble has
reached a stage when it Is not likely to
cause any further unpfeasantness. Presi-
dent Mellen speaks OF basis having been
reached on which anaieable discussion is
possible. The buying of Northern Pacific
common is excellent.
Tennessee Coal and Iron was even more
buoyaut than on any previous day OF the
week. The close last night was at 92 and
the high price reached today was 90 IL,
the close being near the top. The buying
OF the stock was spirited and apparently
much Of 1t was for the commission houses.
The promises of the friends of the COM
pany are enthusiastic. It Is said that the
Hanover Bank people expect to see par
reached on Monday.
Sugar the Tobacco isSues American