The evening times., 1899-12-01

|
Of the Bank Of England discount rate TO
| s per cent, the highest rate since the time
Of the Barring failure In 1850. would cause
the American market to open on this
morning and be weak all day. As far as
the opening and the FIRST hour were con-
cerned. nothing Of this kind happened.
London prices for Americans were n trihe
lower early in the day. but later advanced
TO a parity with Wednesdays close In Nex
York. Rejecting this strength perhaps
there was a good first hour In New York
with advances In many OF the International
securities especially. to above the level Of
the close OF Wednesday. Northern Pacific
common and preferred. both showed n con-
tinuanee OF the activity and strength de-
yeloped early In the week Union Pacific.
common. was fairly active, and Baltimore
and Ohio. common and preferred. New
York Central and Pennsylvania all showed
strength and more or less buoyancy.
Money was loaning at about the maximum
legal rate. but there seemed to be little
fear that the advance of the Bank OF Eng
land rate would cause financial disturb
ances on this side. The bank statement Is
sure to be good one. and IL is still pre-
dicted that something like si2. 100000 sur
plus reserve will be shown. Advices were
to buy stocks on all recessions.
morning ''ex rights" added TO the large in
terest already felt in this stock by the
Street. AS has already been computed the
rights sell at and above. The stock sold
at -;rifing advance this morning from the
''ex'' figures. Baltimore and Ohio, pre-
ferred, advanced 10 81 and seemed in fairly
good demand. The Baltimore and Ohio
controf deal is still the subject Of much
gossip. There has as yet been no official
confirmation Of the story, but it is signih-
cant that there has not been either any of1-
cial denial from the vanderbilts, such as
is usually forthcoming very easily.
Northern Pacific. common. advanced to
6 SIS. fraction higher than any price
hitherto reached on this movement. Ii was
one Of the most buoyant securities on the
list and the great probability seems TO be
that IL will get above 81 this week. or in
other words reach its previous high price
record as the other Pacific securities have
done already. The present earnings Of ths
company are the largest on record. both
gross and net, and it is now little doubted
that the common stock is to go upon per-
manent 4 per cent basis.
Federal Sttel common, again showed the
strength and activity so evident earlier in
the week The Street is particularly bull
ish on the stock and there are evidences
that the insiders are beginning operations
that will make good advance for il easy.
The earnings of the Louisville and Nash
vile for the month of October are in line
with all the other October statements and
also with the uniform excellent showing
made heretofore by this line. The gross
earnings increased si07 919. the operating
expenses s37l 900, and the net earnings
$780, .704. The showing for the four months
from the beginning OF the fiscal years is
as follows: Gross increase sl,55o. .995. net
increase $685.. .216 The figures in the
Southern Railway statement published this
morning are also excellent II seems lit
tie to be doubted that the near future will
see still further advances in the prices of
the securities of these lines.
The friends of the Big -Four are partic-
ularly elated with the statement OF that
company for October and for the four
months from the beginning OF the fiscal
year.
The gossip regarding Pacific Mail is that
IL will probably advance today and tomor-
row in expectation Of the Presidents mes
sage. which it is thought will have a IA
vorabIe reference to the Subsidy bill.