The times., 1899-01-25


at lS6 1-2 or five points off Reading first
preferred, Atchison ,preferred and Norfolk
and Western preferfed all showed a total
aeciine OF around five points from the
highest. 1t will thus be noticed that al
'housh the reaction was sharp, II did not
yesterday extend to any extent into last
weeks figures, the losses yesterday being
confined to wiping out the abnormal
spurts made on Monday
As compared with these greatest losses,
1t is also TO be noticed that the smallest
declines were made in the stocks which
nave been most conservatively treated by
the Street in the advance. Mr.. Flowers
Rock Island, for instance has not been
allowed to advance with Burlington except
to very limited extent. This stock yes
terday closed only half point below the
opening. Louisville and Nashville which
has refrained from advancing with the re-
mainder OF the market. although there
have been the most flattering stories told
of It's prospects, now gets the benefit of
this conservatism and shows less than two
points decline from the highest figures Of
Monday. Chesapeake and Ohio and Pacific
Mail, which have tired out their holders.
both began an upward movement yesterday
in the face of the reactionary market, and
both closed the day with gains over last
weeks level.
There was much talk in quarters usually
well Informed yesterday of movement to
be inaugurated in Pacific Mail. The tip
was put out that the advance in the next
ten days will be eight points. There was
good start in this direction but If such
plan had really been formed it was given
up, for the time at least, on two points
advance. when the determined selling of
the general list began in the afternoon.
At one time the bucket shops were pretty
badly frightened by the rapid advance of
the stock and refused TO trade in it.
The coal deal is still believed to be well
under way and likely to be completed and
publicly announced within few days The
Reading stocks especially look to be a
good purchase at any further reaction, if
the market does not go to pieces entirely.
Ontario and Western and Jersey Central
also are attractive.
Tennessee Coal and Iron succeeded in
closing the day at a higher point than
the opening. There was a squirt to ~ is
in the morning on the continued discus
sion of the alleged plan OF the company
TO sell its railroad lines to Louisville and
to combine its work with the Federal Steel
Company. 1t seems probable that there
is some basis of fact for these assertions,
but the air for the last week has been so
full OF deals and rumors of deals that it
is impossible to arrive at any just con-
clusion regarding them for the time being.
Peoples Gas had a squirt yesterday
morning to 115 Is higher price than
had been reached up TO that time on this
movement. 1t was said that Mr.. Flower
was a heavy buyer OF the stock, and in
deed he was quoted as stating that he had
purchased 10000 shares. He continues TO
assert that he is a bull on the stock.
There was a reaction of three points when
the remainder of the market went off at
the close.
There is much Confident talk of the
future of Big Four. the immediate future.
The stock acted very well yesterday, as
did the company stock Chesapeake and
Ohio Both made their high figures Big
Four 81 12 and Chesapeake 2S is. The
recession from these prices was not as
great as that in other directions. 1t is
confidently predictedi in good quarters that
before the end of the bull movement Big
Four Will sell considerably higher than