The evening times., 1899-08-31

The market this morning showed much
strength and buoyancy under the iafiu
ence OF good buying by important people
and by the public generally. The return
OF Mr.. Flower and other people to the
Street and their optimistic predictions re-
gardfng the market seem to have put
vim into the situation, and it would not
surprise conservative people among the
bull element if good squirt in prices
should occur during the remainder of the
week. The Flower stocks generally were
among the leaders OF the list, but other
groups and individual issues were also
strong and active. During the first hour
an advance from the closing prices of last
night of half point or more On the av-
erage took place, and it seemed quite
probable that the movement would con-
tinue during the remainder of the day
The news of the morning was entirely
favorable, aside from the interviews with
various people predicting higher prices.
printed in the morning papers.
The remarks of Anson S. Flower regard
ing the prosperity of the country in general
and the prospects of Brooklyn Rapid Trans
it in particular are worthy of careful con-
sideration, for two very good reasons Mr.
Flowers opinion is that of a shrewd man
and in itself it is strong one. Perhaps
more than this, however, 1t should be of
value as a market factor because it will
be accompanied, and indeed already has
been, by heavy Flower buying. The action
OF the various Flower stocks this morning
was an excellent indication of this. Inter-
national Paper In fact was the only one of
the securities identified with his name that
did not advance during the entire morning
Rock Island soon reached 120, Federal
Steel, common, went up nearly to 62 early
In the day. Atchison, preferred, was buoy
ant above 66, and Chicago Gas spurted to
120 IL in the first dealings. International
Paper, common, declined steadily at first.
getting as low as 80 before the end of the
first hour. There seemed to be little support
for it. The probability that the dividend
on the common will be passed is sufficient
cause for the weakness.
Mr.. Flower says of Brooklyn Rapid
Transit, that the operating expenses will be
cut before long to so per cent or less, that
the earnings on the stock will be per cent
and 1t should be worth at least 140 in the
near future. The present earnings of the
company are much better than the state
ment for the year indicates to the cursory
reader.
All the grangers were active this morn
ing, but the Flower members of the group
Rock Island and Atchison. preferred
were the best liked. for the time being at
least, on account of the supposition that
the Flower crowd will be buying them.
Atchison, preferred, is considered to be en-
titled to an advance of two points or more
in even fairly strong market.
gentleman intimately identified with
the Tennessee Coal and Iron management
is quoted as saying that the August report
of the company, to be issued about Sep
tember 15, will be a much better one than
that for July.
Sugar and American Tobacco were both
strong with the remainder of the list this
morning, but 1t is suggested by careful
traders that both of these securities are
peculiarly appropriate stocks to let alone.
Federal Steel, common; American Steel