The evening times. [volume] (Washington, D.C.) 1895-1902, 1899-10-24

The stock market this morning showed a
tendency TO react from the sharp advance
of the previous days and especially that OF
yesterday. Some profit taking occurred,
and when the bears saw the disposition
in this direction they began to sell stocks
short, though with muen less confidence
than they showed few days ago. Prices
went OF fractionally, and in some casSs
point or more. The general opinion as 10
the future course of the market is strongly
bullish. 1t is believed by careful observ-
ers very generally that the turn in the
market has come, and that the influence
of the overwhelming prosperity OF the
country is now to be allowed TO exert it
SELF There are likely to be temporary
reactions due to profit taking and to pro-
fessionalism, of course, but they are not
likely to be important.
One most important possibility for the
bulls is also sure to be discounted from
this time. the ending OF the South African
war If this war should come to a sud-
den end by the surrender Internationally
of the Beers, as it seems likely to at any
time, the market would naturally have a
great revival. And this possibility is not
likely to go unrecognized by either the
bulls or the bears, in advance of its accom-
plishment. The money situation in Great
Britain, and hence in this country would
be wonderfully relieved, and it is probable
that London would buy American securi-
ties heavily.
Sugar declined to below $50 early in the
day, but was still well bought and seeming
Iy under the control of the bulls The talk of
the ending of the Sugar war is still heard
and may have some foundation although
the people who usually talk for the rival
refineries insist that they have heard
nothing of any settlement with the trust.
1t must be remembered, however, that de-
malls are really of not much value. when
they stand in the way of the interests of
the people concerned. The denial OF the
Pullman Wagner deal is fresh case in
point
The-gossip regarding the Pullman Wag-
ner deal is still interesting. 1t has been
said many times in the past two years
that the Vanderbilts, the controlling in
terest in the Wagner concern, would not
sell out their profitable business to the
Pullmans, but that rather they might buy
the Pullmans. 1t is now said in explana-
ton of their retirement from the company
that they wish to give their entire attention
to the railway business, and that they have
many important plans on foot in addition
10 those already made public this year. One
of these is supposed to be the long cher
ished idea of a tralscontinental system.
The repeated recurrence of hints regarding
this scheme leads many people who are not
easily misled to believe that the plan is to
be an accomplished fact before very long
The news this morning regarding the
Vanderbilts' plans is that of a new issue
of stock by the New, York Central. There
is to be put out by the company SIS .000,-
600 in new stock, making a total of $115.-
100000, the issue to be made, it is said
about January /. The stock is to be given
to present stockholders at par at the rate
of one share of new stock for every six
of the present issue owned. The stock is
now selling around 40 and bought st par
| about $40 share will be realized The extra
issue is thus worth about sone-sixth OF $40
for every share, or s e2-3 per cent extra
| dividend. 1t is supposed that the recent
advance in Central has been ON account Of
| advance knowledge OF this issue. brs on
| the whole the Street is inclined to be ieve
| that some further advance may take place
| in the price. There was a slight reaction
| this morning in Central, apparently on
realizing by people that have made good
| profits on the scheme.
The grangers went of fractionally in
early hours Of the day, but seemed