The evening times., 1899-06-05

The opening of the stock market this
morning was uninteresting and as far as 1t
went disappointing. Under the lead of
Sugar, which was sold heavily by the bears,
declines were made all over the list during
the first hour and a half. The news Of
| the morning, what there was OF it, was
| bullish rather than the other thing but
| the bears seemed to have determined to
make another hard stab at prices never
theless. There was selling ehort by Keene
and others and buying by the commission
! houses, which on the whole suggested that
| the day might continue to be disappoint-
! ing one 1t is realized that a hard fight is
on between the two sides Of the market at
1 the moment. II is only for small move
| ments, however. The bulls have carried
| their point as far as any large movement is
concerned and the tendency of prices from
| now on will be upward whatever the
momentary fluctuations may be, according
to the best people in the street. The turn
has come.
Sugar was sold down from 145 and
fraction to 140 in the morning hours, and 1t
was not believed by the people who had
predicted the decline that it would go
much, If any, further. People who have
been remarkably we'll informed as to the
moves in this stock are now giving it out
] that the low price on this movement is
very near at hand. IL, indeed, 1t has not
already been reached. They are now talk
ing Of fine advance in the price, perhaps
to higher figures than have been attained
at any time heretofore. This gossip Is in
exact accord with the views of the pictur
esque Boston speculator. Lawson. who for
several weeks now has been insisting that
| the Sugar war Is over and that only the
rankest kind of manipulation is keeping
| the price down. If the upturn does come
in this stock it will have a wonderfully
beneficial effect on the general market.
The Vanderbilt stocks were all strong
this morning, and the talk of the Street
was that the Vanderbilt people are now
ready to begin the bull campaign in :heir
/ securities Northwest and New York Cen
! trail were both buoyant. and the Union
| Pacifcs held their own well.
The tone of the trading in Western
Union was a trife better this morning.
People identified with the Standard Oil
crowd were quietly giving the tip that the
dividend on the stock will not be reduced,
as has been predicted recently.
The New York traction securities su1er-
ed most in the decline. next to Sugar. They
were all sold and all had declines of a
point to three points in the early trading.
1t was hinted in good quarters that Brook
| lyn Rapid Transit should be bought ar0und
ITO, and Manhattan around 108. The talk
| of the close relations bstween MetropOi-
tan and Manhattan attracted much atten-
ton, especially as it was in harmony. with
recent heavy buying Of Manhattan by
Metropolitan Traction people.
The magnificent statement as to the
earnings of the American Steel and Wire
Company for the first six months. Of Its
year. published in The Times this morning,
is in exact accord with the belief enter
tanned by the best informed people here
tofore. The company Is earning per cent
on the preferred stock and 20 per cent on
the common, in addition. 1t Is believed that
a dividend of 2 per cent will be declared
on the common stock this month. The ex-
act information is not yet forthcoming as
to the earnings of the Federal Steel con-
cern, but it Is certain that the condition
of its affairs must be nearly, II not quite.
as good. The stocks Of both these COM
panies were all strong 'thiS morning. and
after the decline in the first hour. there
was excellent buying of Federal Steel COM
mon and Steel and Wire common espe-
cialy. a. g. -
Jersey Central was strong, on account
Of the magnificent showing made by the
company recently and the cdalers generally
seemed to be much il favor with. care
full buyers. 20,