The times., 1899-09-08

clined during the early part of the day
to 169, but later advanced again to above
1l2, the closing price of Wednesday. Colo
rado Fuel and Iron was sold somewhat
heavily, but good buying by insiders ap-
parently, kept the price from tumbling with
the remainder of the market American
Steel and Wire and Federal Steel both
went off somewhat from the opening prices.
Another advance in the price OF pig iron
and the continued excellent advices as to
the condition of the trade perhaps prevent
ed the group from being as weak as the
market in general. 1t seems certain that
in the first strong bull market these stocks
will be buoyant. Colorado Fuel and Iron
is regarded with particular favor by many
careful brokers and traders.
One of the stories regarding the big
bulge in Tennessee Coal and Iron is that
a block of 1000 shares sold short several
months ago was bought in at loss of
about $50 q share or in the neighborhood
of $250,000. It seems probable that the
price will not fuctuate widely now for a
few days until the insiders get ready to
begin their campaign again
The Leather securities were active and
buoyant yesterday, perhaps the strongest
features of the list. The common stock
advanced TO IL IA and the preferred TO
rs SIS. after which there was some recess
sion. The clique in the stocks was active,
and it was one of the tips of the street
that another campaign like that of two
weeks ago is to be begun by them.
Sugar was fairly strong, but the fuctua-
tions in it we're small, comparatively, and
the close was within half a point of the
opening. The Doscher people have made
further cut in the price OF granulated
sugar and the bears again profess much
dubiousness OF any settlement of the war,
as a consequence. The declaration OF the
dividend and the persistence with which
the stock is held up in price suggest,
however that the insiders are not entirely
hopeless regarding the matter.
London sold Louisville and Nashville
somewhat heavily yesterday morning, and
on this side it was sold off also, the price
declining to so 3-S, the closing figure for
the day. Buying of a good character shog-
ed itself before so was reached and it was
evident that there were heavy orders to
secure the stock at small concessions from
the market level The increases in the
earnings of the company are so remark
able and so entirely satisfactory that it
seems extremely improbable that it will
be allowed to decline. On the other hand,
in any good market it's friends predict that
it will advance several points above its
previous high price.
The New York Traction securities were
all weak. Brooklyn was attacked with
some vim and declined to 103 1-2, closing
little above that figure Manhattan declined
to 1lS Is, but recovered part of its loss.
Metropolitan Traction fell two points to
20S, and closed at the bottom. Sentiment
is much mixed regarding the group and
careful traders are leaving ii alone
Western Union sold off point yesterday,
closing at SS Ia, the low price.
The strength of Mergenthaler Linotype
in the local market recently has attracted
some attention. The market has been prac-
tically dead letter, with the exception of
this stock, which is dealt in nearly every
day. After the recent squirt there was a
decline, In which half of the gain
was lost, but at 210 the price stuck, and
it has been fiuctuating in the neighborhood
of this level since that time. Yesterday
an advance TO 211 and 211 IA was made
In the Boston market the price got as
high as 2f5, which is considered an indica-
ton that there will probably be a further
advance here. The meeting of the directors
of the company TO act on the dividend ques-
tion for the quarter will take place next
week. probably on Tuesday. A letter writ
ten by the treasurer of the company 10 a
large Washington stockholder and published
in The Times yesterday, states that the
amount of cash on hand, and notes and ac-
counts receivable at the beginning of Au-
gust. Was somewhat over 81 SOC, 600. 1t is
understood that this amount has been
largely increased since that time The to-
tai capital stock OF the company is only
$40, ,000. 900, SO that this showing will rightly
be considered remarkable one.
Washington stock Exchange.
Substituted States As, registered, 50m
Ill United States 3's registered S50Om