The evening times., 1899-07-28

There was fine squirt in the stock mar
ket this morning, Prices advancing Rapidly
from high opening half point to two
points during the FIRST hour. The leaders
OF the movement were the same stocks as
those that showed greatest strength yes
terday. but the general list partoox Of the
activity in better way, very few stocks
failing to make some gains. Sugar, Ten
nessee Coal and Iron. Louisville Nash
vile. Continental and American Tobacco
and Burlington made the best advances,
but some OF the coalers showed strength,
and Rock Island. ST. Paul, the Union Pa
cifics. Chicago Gas, and Brooklyn were also
advanced well. The traders generally
switched to the bull side, and there was
fair commission house buying, in addition
to the support of the cliques. There was
little new in the situation. but the Street
was again more hopeful as to the CON-
plexion OF the bank statement tomorrow.
and the rains in Kansas and elsewhere in
the West had good influence on senti-
ment. AS to what the outcome of the
squirt would be, there was naturally much
difference OF opinion, but conservatives
were not hopeful that it would develop
into a sustained advance this month. There
are too many important people away from
the market at present, and the public is
too averse TO buying stocks without large
encouragement from the insiders. bull
market later is certainly expected, but for
the present careful people will prefer to
take profits on bulges, and buy on declines
after the approved professional tactics.
Louisville advanced to above IA in few
quotations and was held strongly at the
high price, which with the dividend was
above 76. This stock is one of the few that
have fulfilled the expectations OF its friends
- IA H.
portance and its advance has been steady
to price several points higher than any
in recent years. The earnings of the sys-
tenn and the fact that a large proportion OF
the gross earnings can now be applied 10
dividends on account of the very conser-
yatiye management of recent years, that
has put earnings into bettsrmants instead
of dividends. Is more than a good reason
Tor the advance in price.
Further advices from Kansas, Iowa, and
Nebraska today were that the corn crop
has undoubtedly been saved by the recent
rains. One meaning Of this is that the
Burlington and the Atchison will have an
immense corn business this year without q
doubt, which is equivalent to saying that
they will have one of the most prosperous
years in their history with the immense
growth of general trafic that is assured.
DuTiluStOA duu SatCAtSOH PiCAStfC0 WSAC
active and particularly strong this morn
ing as a result Of this news. Burlington
advanced to 1873 and higher in the hrst hour
and Atchison preferred to above 81. Bur-
iington thus made two points gain from
yesterdays low price. The other grangers
were also strong, st. Paul getting to
1872 5-8 and Rock Island to 119 5-8 In the
first hour. st. Pauf's yearly statement is
still the cause of much optimistic comment.
Another suit against the Chicago Gas
Company attacking its right to exist has
been decided adversely to the plaintiff and
in favor of the company. These periodical
attacks are now of very little consequence
as far as the stock of the company is ccn-
cerned. although not very long ago, be-
fore they were SO frequent. they were used
with much success by the bears. 1t is
now officially acknowledged that the CON-
Germ is negotiating with the Ogden COM
pany for its plant and franchise the ac-
QUESTION of which would give it a monop-
oily of the gas business in Chicago
1t is said that the Missouri, Kansas. and
Texas Is making plans for new line 200
miles in length to make valuable Mexican
connections.
The National Steel Company Is to pur-
chase immense iron mines In the Lake Su-
perior region that will give it 1.250. 600 tons
OF ore additional a year. With these mines
it will have about 80 per cent of its 5000,
600 tons yearly ore requirements In Its own
hands.
The Tobacco securities were again very
strong this morning. the common Cont
| mental stock getting to 43 ga in the first