The times., 1899-01-06

The beginning of the day in the stock
market yesterday was most disappolnt-
ing with every indication of "a general
reaction. but to the general surprise OF
the street the afternoon was very good,
with large advances in several OF the
specialties and a general moving up of
the list TO a level above that of the open
ing. II is probable that the bears at
tempted to make a big piece of bear news
out of the Philippine situation, and the
selling in the morning was partly due TO
this. Later the street and the public
seems TO have come 10 the conc usion that
the substance OF prosperity is much bet
ter than the shadow of trouble on the
other side of the world. Considerable en-
gagements Of gold for shipment from the
other side amounting in all 10 81, 500 000,
also helped the afternoon trading. 1t was
evident TO the public too. that Mr.. Flow
er was still active in the street and the
advances of his stocks in the face OF all
prediction to the contrary gave renewed
confidence to the general buying. The ap-
pearance of the market at the close yes
terday was certainly most encouraging,
and it is quite generally predicted that
today will be another day of advances.
The significance of the strength of the
erangers is not TO be overlooked by the
most ardent friend Of a reaction at the
present time. Mr.. Flower bought Rock
Island yesterday, and it was sent up from
Il3 IL TO ia ga, the former price being
the opening and lowest and the latter the
closing and highest for the day. In SYM
pathy with this movement, and on ac-
count OF the ST. Paul earnings statement,
partially. no doubt, st Paul and Burling
ion were also strong, the former closing
al l2l 3-S, and the latter at 125 IL.
The remarkable advance of the special
ties yesterday is shown in the fact that
five stocks Brooklyn, Chicago Gas, Man
haitian, General Electric and Pan Handle
had an average advance of three points
net Their total advance from the lowest
to the highest was 81 points.
Mr.. Flower is undoubtedly still the cen
tral figure of this market, ana the evidence
Yesterday was all that he still has the i'm
plicit confidence of the public. Brooklyn
on Wednesday had an advance Of eight
points and there were dire predictions at
the close of the market then and again yes
terday morning that his purpose had been
accomplished and that the bottom would
drop out of the boom in the stock. De-
spite this. after a little weakness in the
early trading yesterday the advance began
ed at 81 is, making the total advance for
the two days over twelve points. Mr.
Flower too. is to be credited with the be-
ginning of the advance OF Rock Island and
with the initiation of the long expected
movement in Chicago Gas.
The Chicago Gas situation is an interest
ing one and the general impression is that
there will be a considerable movement in
the stock during the next few DAYS II
has been the opinion of the public and of
the bulls generally for some time that with
the earnings of the company so good and
the 6 per cent dividend more than assured
1l0 was a very low price for it with money
so cheap and other 6 per cent stocks so
much higher. Undoubtedly there have
been a great many orders TO buy waiting
for the beginning of the movement. Mr.
Flower and his brokers bought yesterday
by the tens OF thousands of shares A
| large short interest in the stock, for many