The times., 1899-01-20

Yesterdays market undoubtedly reflects
the entire return of the confidence in the
boom that was somewhat shaken by the
selling and lower prices on Monday and
Tuesday. There was during the great
er part of the day an advance Of
prices all over the board and the
closing figures were near the top
The public was large buyer of the gran
gers and also of many otner stocks that
have been neglected somewhat during the
great activity in the grangers London
added the encouragement of its buying and
there was at the opening n great volume
OF buying orders from the public. This In
'tiated the advance, and later when there
was a disposition in some quarters TO take
profits there We're hosts OF eager new buy
ers at any decline of an eighth. There is
nothing new In the general situation TO
change the tone of speculation and there
is no reason to believe that there will be
any abatement of the bullish feeling today
or tomorrow. Money was at . and . | 2
yesterday, with no suggestion of tightness
anywhere. The Bank of England has re-
duced the rate of discount.
The advice OF nearly every writer in New
York whose opinion has weight, to leave
the specialtes alone for a time and buy
the grangers and other standard railroad
shares has been followed by the public in
marvellous way. These stocks have been
taken in such volume as has very seldom
been seen on The exchange The effect has
been that the stocks have advanced rapid
ly III price. a week ago Burlington was AT
127, and it sold yesterday at 40. Rock
Island sold on last Friday at ll5, and al
though II has been the complaint that this
stock is held back, the advance in the
week has been over five points ST. Paul
bg ar Iva in, 10
II would not be surprising if the advance
in these stocks, and especially Burlington,
should hesitate now for time. They seem
destined for much better prices than
these shortly, but the professionals who
have been helping the advance in Burling-
ton will probably shift their energy mo
some other channel for the moment.
Omaha was helped yesterday by the
prospect of the increase in the dividend
and when the announcement came there
was some realizing in the stock The new
rate Is IL per cent annually instead of
3, as heretofore. The stock sold al mar
and it would seem that the price is high
enough for 3 IL per cent security.
Louisville had rapid advance vester
day after three days of stagnation The
stock reached 67 l-2, and the close was al
5I, above any recent price. The quick
subscription 10 the new issue of bonds and
the excellent earnings statement issued
yesterday account for the buying The
friends of the road and the stock predict
40 as n nearby price.
The earnings of Louisville and Nash
Vile for the second week of January In
creased $4,000: from July !. the increase
was $165,300 Baltimore and Ohio South
western. second week decrease, $40. 500;
from July !, increase, $213,0OO. st. Louis
and San Francisco, second week increase.
$1,000; from July l, increase sS2, ,s65 Fort
Worth and Rio Grande, second week in
crease $1,000. Southern Railway. second
week OF January increase s22 900; from
July /, increase $500, 600. Minneapolis
ana ST. Louis, second week OF January in
crease, $4,000; from July /, decrease 81. 500,
Lake Erie and Western, second week de-
crease $1,000; from January l, decrease
$4,000. Cleveland. Lorraine and Wheeling
second week OF January decrease 81. .S5S;