The times., 1899-05-18

The phenomenal market of last January
was in no wise stronger or more steady
than that of the past four days since the
break on the death of Governor Flower
There has not been a decline of a point
at any time and hardly time when prices
were not moving up slowly but steadily.
The entire losses at the opening last Satur-
day have been regained in many stocks
and in all the level last night was well up.
Yesterday had been picked out by the bears
as the day when prices would go of after
their advance, as Tuesday and Monday had
also. Instead of any decline, however, 1t
was the strongest day of the week with
the greatest advances in prices and the
most general buying. Before the close
prices in the Flower stocks had gone up
| from three to seven points and in the
mainder of the list point or more. With
such a showing of strength, better even
than the bulls had expected, II is difficult
| to predict what the outcome will be. The
| general belief was that the rallies Of the
market every day after the death of Mr..
! Flower would be followed by recessions as
profits were taken. and brokers were ebie
to sell hold-over stock at the figures at
which their customers margins had been
! exhausted. The fact that no such weak
ness had been developed inclines many
people to the belief that even higher prices
are to be reached before the purchasers Of
| last Saturday take their profits II has
| been pointed out in this column that bull
market is due, and that the only breaks
| to be looked for are temporary ones in
| the gradual advance of prices TO a much
| higher level. II would not be a great sur
/ prise now to many of the bull contingent
! IL the people behind the market should de-
| eide to move up prices several points
| further without any break worthy of the
name 1t is undoubtedly the fact that a
| gradual advance would be the best pos
sible way now to secure the cooperation
of public buying.
| II has been pointed out in this column
that the Flower stocks are the most likely
| to have good advances Mr.. Flower chose
these stocks with which to make his cam
paign, because they were the best on the
| list comparing their prices with their
| earning capacity. This is the first and the
| chief reason why they should now ad-
vance after the sharp break last Saturday.
The Flower crowd and other large inter-
ests which are supporting the market have
feared weakness in these stocks temporar-
lily, however, and they have given them
their chief support. This has added to
| their strength and advanced them more
quickly than the remainder of the list. The
| bears who have been hammering the group
at all times have found 1t impossible to
make any impression. Their record at the
close OF the day yesterday was phenomenal.
1t will be remembered that Brooklyn broke
to par on Saturday. The stock opened at
112 ga yesterday and before the close had
advanced to 119 1-2. The close was at
119 3-s Peoples Gas recovered In an even
more remarkable manner. The lowest
price reached by 1t on Saturday was 10l.
Within four days an advance of twenty
points had been made to 121 3-S, the top
price and the close yesterday. The stock
has thus more than regainsd all its loss