The evening times., 1899-04-24

The opening of the stock market this
| morning was in all respects like those last
week, with somewhat higher first quota
| tions and then recessions all over the list
To all appearances the traders market is
to continue a little longer before the boom
in prices begins. Meanwhile it is noticea-
BILE that stocks are being accumulated all
the time and that prices are not allowed to
go of badly anywhere. IL seems a safe
course to buy good securities the grangers
the Vanderbilts, the Southern roads. the
iron and steel stocks on all recoveries as
| il is well-nigh certain that all these and
others will have good advances in the near
future. AS to the immediate course of
the market the best opinion is that even
II the trading policy is to continue slightly
higher prices may be expected every day.
There is nothing unpleasant in the general
situation anywhere, with the possible ex-
ception of the outlook at Manila or Sa-
! moa. The good weather In the West made
wheat weak today.
Sugar was the feature Of the morning
trading. being the only stock In fact that
showed a good advance. The opening was
at 167%, and before 11:30 the price was
above III. Predictions are all bullish on
the stock. and. although there is no par
ticular bull news, the general expectation
seems to be that a 10 or 20 point advance
Immediately is likely.
General Electric was jumped up points
at the opening, but fell back soon after
nearly to the opening price. No reason
for its activity was given.
Despite the weakness of wheat, the
grangers were weak this morning There
was good buying after fractional declines
however, and 1t seemed not unlikely that
an advance would occur later in the day.
Western Union was particularly weak in
the early trading. going below 80. 1t is
thought that the probability of larger
competition from the telephone trust is
having an unpleasant effect on the stock
The suggestion is heard in the Street also
that wireless telegraphy is beginning TO
loom up as a possible competitor to the
established order of things.
Pacific Mail was weaker than the re-
mainder of the market in this mornings
recessions. There was good buying Of the
stock on the drop.
Brooklyn Rapid Transit and Manhattan
began again this morning the .wearying
tactics of last week, opening at advanced
prices and shading off Immediately. It
is believed that Brooklyn Is destined to
have a good advance this week, and that
1t should be bought at the present level
Insiders are known to be accumulating
the stock. The fine weather In Brooklyns
territory is increasing the earnings of the
system every day and during the summer
they will be phenomenal.
There was activity and considerable
strength for the American Steel and
Iron securities this morning, especially
the common stock and people famiia
with the tactics of the friends of the stock
predicted that 1t is to be a leader in the
advance Of prices. The company is one of
the best Of the new industrial CONCERNS,
one Of the least capitalized and best
managed. and already its earnings are tre-
mendous. The buying of the Federal Steel
securities was good but considerable IL
quidation forced the prices Of both the
common and preferred on early in the
day. No news Of the company or of any
Of its alleged deals with the fuel and iron
concerns was heard in the Street.