The evening times., 1899-10-11

The stock market this morning was ac-
tive and bucyant during the first hour un-
der the influence CT the buying for both
accounts induced by the announced inten-
IiCn of the Government regarding the pre-
payment of interest on its bonds. There
was a generally better feeling in the
Street and although il was realized that
there might be a continuance of the pro-
fessional market for few days longer it
was believed in many quarters that the
coming month viii see much better mar
ket, perhaps a booming one. 1t is not
doubted except in extreme bearish quarters
that the action Of the Government Will re-
lieve the money stringency. Later in the
day there was some reaction, due appar-
entity TO realizing on the advance of three
and four points that has taken place in
the past week OF more. 1t was not be-
lieyed that this movement would be ex-
tended or serious and there was good bay
ing on the decline both for the long and
for the short accounts. The bears show
strong disposition to cover and as there
is estimated to be at least 300, 900 shares
short in the market it will be seen that if
this disposition once takes shape active
ly a boom is likely for a time at least.
The grangers We're again active this
morning making good gain in the first
half hour, but losing some ground later.
The pretty well distributed belief that all
of these lines will show immense Septem-
Der earnings, owing to the tremendous
traffic in grain, may be considered one
reason for the greater strength of the
group II money is to be easier it is an
other reason why they should advance,
when they have been hammered persist
entity on the theory that tight money
would prevent their selling any higher
The statement of st. Paul for the first
week of October, as usual, shows fine
increase in gross earnings. The total
earnings for the week were 1891, sos. which
is an increase Of SIS, ,7O2, the largest for
several weeks.
The gross earnings of Ontario and West
ern for the first week of October show an
increase of s2O,S0S. The increase from the
beginning OF the year is $293, 1876.
The Kanderbilts were active and strong
this corning Big Four being an especial
fsvorite with two points gained in the first
half hour of the day. New York Central
sold above l35, and the Union Pacific Sc
curities were both above yesterdays prices.
The new Southern Pacific securities will
be issued this week probably. trifiing
weakness in this stock yesterday and to-
day may probably be attributed TO this
fact. as there is generally a disposition
10 sell new securities when they are issued
The stock is undoubtedly a good one, how
ever. 1'hs earnings ot>the company are i'm
mense and its prospects fine.
There was meeting of the freight
agents yesterday to discuss a proposed ad-
vance in the rates for anthracite and btu
minoas coal. No action was taken but
Il is understood that the subject will he
taken up again al meeting on Friday and
that advances on both anthracite and BIZ
luminous are likely. The coalers. and es
pecially Reading, first preferred, are looked
upon with favor by many careful people.
The annual statement of the Reading Com
pany did not make so fine a showing as
many had expected, but il indicates a con-
servative management and is an excellent
augury for the future. The increase in the
tonnage OF bituminous coal for the wear
WAS enc of the most hopeful features of
the report
Brookland Rapid Transit was one of tbe
strcng stocks this morning There have
been vague rumOrs of buliish deyelopments
in Transit for two days now. and il is
perhaps conservative enough to saw that
many OF the bears in the stock are anxious
regarding the matter though nothing seems
likely To occur except perhaps concerted
attempt to advance il by its friends