The evening times., 1899-01-07

The bears were again. surprised end
grievously disappointed in the stock mar
ket today. The opening was at recesslons
of half point or more and those VINO had
believed there would be a declining mar
ket all day believed that the first quota
tions indicated what would be the tenor of
the entire market. Soon after the open
ing however, the Flower brokers and 9TH
ers commenced buying heavily and the
turn came Immediately. From that time
until the end of the session there was d
continuous advance. The close was very
strong with immense buying and good ad-
vances all over the list. In Atchison pre-
ferred especially there was rally of three
points. The sales OF this stock in the last
hour must have been 50, 900 shares. The
only conclusion il is possible TO draw from
the tenor of the market is that the bears
have been badly routed and the confidence
of the public thoroughly restored. This
would indicate bull market of considera
BILE strength for next week.
The bank statement for the week is most
satisfactory, though the loans show a de-
crease. Reserves increased Si,349, 400. Spe-
Gle increased So 6S5, 500. Legals increased
81 624 500. Loans decreased S4,50i, 800. De
posits increased SO, S44 900. Circulation de-
creased S412, 400.
The movement in the Atchison stocks
was a surprise to a large part OF the
Street, and especially the bears, of whom
J there were many. The short interest was
| larger in the preferred stock than in al
most any other stock in the list Flower
began a great buying campaign, and the
preferred was marked up quickly three
points. The common followed its lead,
though not so rapidly. There are many
Of r. h;tyI,n r,,-,nn fnr
curities next week.
Chicago Gas went off with the remain
der of the list at the opening but the rally
| began quickly and the close was at an ad-
| vance of a point or more. There was
| good buying in this stock by the Flower
brokers and the Street was inclined to be-
lieve before the close that Mr.. Flower S
prediction Of 120 for the stock before the
end of January would prove true. The
bear talk Of Gas is rabid, but the per
| cent dividend always paid, and now far
| more than earned, is a great attraction
! when many 6 per cent stocks net holders
something like 1 per cent only.
The Grangers We're notably strong, all
showing good advances for the day. The
| buIish talk OF Rock Island and st. Paul
| is most confident.
The movement in Southern preferred
was especially confident this morning and
the price was advanced well. AS suggest
ed in this column yesterday the maguifi-
cent earnings statement of the company
for the week and the year has made many
friends for the stock.
Union Pacific common was another of the
strong stocks. There has been bull talk
regarding the stock for two days and ap-
parently it was well founded
Federal Steel common, although sold off
badly at the opening, was better supported
toward the latter part of the day.
| The movement in Pan Handle did no:
continue today though the price was well
help up around "A. 1t seems to be the
opinion of people who have been follow
ing the stock during the large part Of the
rise that it will follow the course of the
market closer hereafter as the public is
now buying it heavily. 1t is not believed