The times., 1899-09-23

appear, might be expected 20 be bullish
The big buying of Brooklyn Rapid Transit
also had much to do with the strength Of
the general market from the fact that the
street became convinced that some Of the
strongest people in the financial world
were behind it. The outlook for today is
for good opening and perhaps for further
advances in prices all around. Many will
sell out before the bank statement appears,
to be on the safe side. although it does
not seem in the least certain that a slump
viii occur then.
The bank statement viii be better than
il was last week, though how much it
is impossible to say.SsThe banks have lost
S2,5e0,O0o to the subtreasury during the
week. about half the amount lost last
week. The money paid by the Government
for October interest, that went to New
York. was more than this amount Some
money has gone West this week but not a
large amount Chiefly favorable is the
fact that an immense amount of loans have
been liquidated.
Mr.. Keene covered heavily yesterday. and
was thought TO be'buying some stock long
as well.
Brooklyn Rapid Transit advanced to
80 I-2 and closed at 80 3-s, which was a
net gain of II points from the low price
OF the week. The talk OF the Vanderbilt
Whitney clique having secured control of
the stock threw the shorts into a panic,
and from the opening yesterday morning
at 81 l-2 the stock was bought steadily
and heavily. The wide publication of the
fact that f. F. Marquand has instituted
mandamus proceedings against the COM
1any to compel it to show its books had
No xx-b1 II ;,,-
tended to score for the bears and the
fact that the price of Brooklyn Rapid
Transit continued to climb filled them with
CONSERVATION. Metropolitan and Manhat-
tan both advanced in sympathy with
Brooklyn Rapid Transit, Metropolitan
closing at 200, the high price for the day
The Leather securities were among the
features of the afternoon. The preferred
stock went as high as 79 3-S, and closed
at 79 IA, the highest price of the move
ment and since 1895. The common stock
went to Is, also the high price since
1895. The buying of these securi-
ties has been good for several weeks.
They were the strongest securities on the
list during the break, going off only a
point or two. The clique that is buying
the stock so industriously may be doing
20 to unload it later, but at present its
object is evidently to secure stock.
The Vanderbilts were buoyant. North
west and Omaha especially Omaha start
ed the movement in this group by squirting
up to 126 1-2 early in the day, with no
apparent reason. 1t closed at this figure
the high price. Northwest went as high
as 40 "a, and closed at 16S IA New York
Central went as high as 137 and closed at
136 l-2. The Union Pacifics were both
strong. The increase in the earnings of
Northwest for August was the very nice
sum, $3s7,O0O.
A. A. Housman. the broker, one of the
strongest bulls regarding the present mar
ket outlook, very shrewd and well-in-
formed man, said to a friend yesterday re-
garding Southern Pacific: 81 expect to see
the stock sell at 60 or 20 ultimately. The
company win earn 6 per cent on the stock
whether it pays or not" There are others
of the same opinion in the street and their
influence was felt in the stock yesterday
II advanced to IS 7-8 and closed at So 1-2.
The grangers were all strong, Burlington
advancing to 132 IL and closing at 1872 Is, |
St Paul getting as high al 129 Is and clos
ing at l2s 5-S Rock Island advancing TO
ia S-S and closing near the top, and Atchi-
son preferred selling up 10 e3 1-2, the clos |
ing price for the day.
Atchison preferred was bought steadily |
on account of the annual statement which |
is most satisfactory document The fig |
ures were as follows:
Gross earnings from operation $40 51s. .49s 6s
Operating expenses including taxes, |
rentals, and other charges. 90 1885,, 1864 II
sl1, $50, ,5s4 81 |
Receipts from ether sources. ........ 249. .434 81
sll. $780, 900 SO |
Fixed charges. 5Iss, 1872 90
Net income. so,24I.ss7 Sc
Accrued interest adjustment
bonds 2,053, $40 90
s4.1s7,s97 Sc !
Surplus from preceding year after de-
Quoting charges shown in profit and
loss account northumberland. 226, s94 SO
Total surplus to June 30, 1899 ... s4414, ,49I 81
The percentage of operating expenses was
reduced from 1858 in 1898 to 6s.l4 A sur
plus remains of s2,9S7, 420, after allowing |
for the ! Ia per cent dividend on the pre-
ferred stock, paid in July. Treasury hold !
ings include $3.50, 207 cash and securities |
of an estimated value of So, 1876, ,909 Ex- |
penses during the year for improvements. |
etc, charged TO capital account, were So
Sls,i26- Other capital expenditures for new
acquisitions were $3.50. .0Ss, and the purchase
OF the San Francisco and San joaquin
Railway stock Of 2462, 300 There was
$5cU,VV0 written of from the cost of rail- t
road, franchises and other properties, and |
charged to profit and loss. Permanent i'm
provements on a large scale were effected |
including the extension of the company's /
system lbz miles. relaying OF new steel |
rails and erection Of bridges.
American Tobacco was one of the few
weak stocks on the list. A statement is /
sued by one OF the Wall Street news |
bureaus on Thursday and purporting to |
give lot of buIlish facts regarding the af |
fairs Of the company, had somewhat fishy !
appearance, and when il appeared the re-
mark was made in some quarters that to- |
bacco stock might be getting ready for a !
tumble.
Tennessee Coal and Iron seems to have
recovered from the effects of the August |
earnings statement, which traders were |
at first inclined TO consider as rather un- |
favorable. The stock was active and made |
a good advance yesterday. The news that |
the company has received a contract for
$1,000 tons of steei-Sillets at $37 a ton, on
which il VIII net $40 ton, was published |
yesterday and naturally well received 1t |
has been making contracts at such prices !
for the greater part OF next year. and there |
can be no question that if the trade con- |
tinues in the same fine condition its profits |
viii be immense Federal Steel common |
and Colorado Fuel and Iron were both |