The evening times., 1899-06-27

1
to Europe temporary tightness may be
| induced, but the fact that America is actu-
| ally lending money TO Europe out OF su-
perabundance OF idle funds seems to make
| this supposition somewhat far-fetched.
The opening prices on wheat this morn
| ing were again off about half cent,
| lower level than has been seen for many
days. Some wheat men talked of a rally
| from this extreme decline, but the condi
| tions certainly do not favor more than a
most transient advance. The visible sup
| ply asonishes the keenest Of the profess
ional contingent and the continued better
reports of the outlook are not calculated
to induce buying even by the profession
al element with anv considerable vim. This
situation is most favorable to further ad-
vances in the granger group of stocks. st.
Paul, Burlington, and Rock Island opened
near the highest prices of yesterday and
declined fractionally after which for time
there was little trading in them. Atchison
preferred. was strong apparently as a re-
Election Of the excellent feeling engendered
by the Atchison statment.
There are no denials of the New York
Central-Boston and Albany deal, but the
bears are trying to discredit it by throwing
out hints that 1t may not be true. basing
their efforts on the fact that no high off
cial of either of the companies has as yet
confirmed the story. Apparently there is
every reason to place confidence in the en-
tire statement which originated in a most
trustworthy quarter, and was elaborated
with much particularly. There were
slight recessions in the Vanderbilts this
morning owing to proft-taking sales, but a
recovery seemed likely at any time. The
Union Pacific issues are especially well re-
garded by friends of the Vanderbilt roads,
The fear of yellow fc- is keeping many
investors out of the Southern issues who
otherwise would be enthusiastic buyers of
them on their excellent prospects. 1t is
believed that Notwithstanding this ten
dency to discount the possibilities of the
fever both Southern preferred and Louis
vile and Nashville will attain to much
higher prices in the coming few weeks.
The Steel stocks were in somewhat bet
ter shape this morning owing to the dis
solution Of the injunction against the Fed
eral Steel Company yesterday. There is
now no obstacle in the way of the divi-
dend on the common stock and it is un-
derstood that itiwillilbe paid in a few
days. The excuse given by the Steel and
Wire people. also falls fiat now, and unless
these gentlemen intend to 60 back on
their promises of a dividend entirely an
announcement may be expected at any
time in this quarter. Federal Steel COM
mon opened up well this morning and sold
in the first few minutes of the day at SO.
Later there was some selling Of the stock
which forced loss Of a part of the early
gain. Steel and Wire common hesitated.
Brooklyn Rapid Transit was weak this
morning. selling at 113 1-2 in the first
hour. No explanation Of this was given
and the stories of strike of the employees
Of the road were repeatedly denied. There
was fairly good buying Of the stock at the
lower prices.
The Baltimore and Ohio operating ex-
penses increased $4,000 in May. and ST.
1853 in the first ten months of the fs-
cal year. This reflects very clearly the
large outlays of the receivership manage
ment in the rehabilitation Of the property
and accounts fully for the comparatively
small net earnings showing. The Balti-