The times., 1899-09-07
STOCKS ACTIVE AND FIRM
Encouraging Railway Statements
Strengthen the Market.
The Extraordinary Showing of ST.
Paul Followed by Heavy specuIa-
ffon in Those Shares-WiId Move
ments in Tennessee Coal and Iron
and Colorado Fuel and Iron.

NEW YORK, Sept 6-while today,s
stock market was not wanting in some ap-
pearanees of irreguIarity, it was. on the
whole, the strongest, broadest and most ac-
tive market for a long time The days
actual situation of itself comprised very
little, aside from the publication of a num-
Der OF exceedingly encouraging statements
of railway earnings to which the general
course of prices could be attributed. Some
of these statements of earnings were really
extraordinary exhibits of the current tre-
mendous movement of traffic throughout
all sections of the country. The most note
worthy statements submitted today were
those of the Southern Railway and Missouri
Pacific for the fourth week in August and
of the Southern Pacific for the month of
June. Following upon the St. Paul's an
nual statement, submitted at the close of
business last night, these statements of
earnings seemed 10 attract more attention
than has been accorded this feature of the
situation in a long time. The really re-
markable showing made by the St Paul
Company for the year naturally created
particularly active speculation in that stock.
where interest was further stimulated by
the near approach of the declaration of the
dividend St. Paul was easily the con-
spicuous feature of the railway list, both
in regard TO strength and activity, and the
advance there was clearly based upon the
expectation that the directors, at their
meeting next week, would declare an ex-
ira dividend Of at least l per cent. While
the money market continued very firm.
the circumstance was not a decisive factor
in the days dealings, nor was the contin-
ued unfavoIable disposition of the foreign
| dealings in this market, which, however
on balance were of very small proportions
Incidents of the day were the declaration
of the regular dividend on the common
| stocks of the American Sugar Refining
! Company, and the announcement of the
payment of the full 4 per cent on the ad-
| justment bonds of the Atchison, Topeka.
| and Santa Fe Railroad Company. With
the ensuing year this change upon the lat
! ter security becomes fixed one.
! Sensational features of the market were
Tennessee Coal and Iron and Colorado
Fuel and Iron and with the course OF the
/ day the advance in these stocks seemed to
/ induce purchases in the shares OF another
property of the same general character,
! namely Hooking Coal and Iron. The rise
| in Tennessee Coal and Iron seemed TO fol-
low buying for both accounts, the demand
from the short interest being particularly
urgent Observers of the dealings in this
stock for long time have regarded 1t as
being practically cornered, and notwith-
standing the reports in regard to the cur
rent earnings of the property Ii would be
difficult TO otherwise account for It's wild
movements In the days market The
strength of st. Paul was reflected to a
greater or less extent in the other granger
shares, but the Pacific stocks, with the
exception Of Southern Pacific and Central
Pacific, were comparatively neglected.
The industrial quarter in the main was
strong and active, notably for Sugar, Fed
eral Steel, and the other so called steel and
iron industrials. Noteworthy advances
also took place in the anthracite coal
group, where the Reading shares were con-
spicuousiy active. The local traction
stocks advanced rather sharply at the
opening of business but a subsequent pro-
nounced reaction in Brooklyn Rapid
Transit seemed to take good deal of the
life out of the dealings in these stocks
Practically nothing new came To light