The times., 1899-05-18

over Friday night. The Federal Steel Sc
curities both advanced rapidly all day, as
they have every day since Saturday. The
preferred stock opened yesterday at so and
closed at SO 1-2, and the common opened
at 81 rs, and closed at 81 "a. The more
quiet of Governor Flowers favorites, Atch-
son preferred and Rock Island, were also
strong, though their gains were not great
in comparison. Each finished the day with
point advance.
AS is usually the case sinrsuch move
ment as these stocks made yesterday, the
public was afraid to buy them during the
day and only made its purchases at the
close, after the big advance. 1t is the pre-
diction now however, that there will be
further buying this morning, and still
higher prices before the slight reaction at
least that is generally expected The ad
vice regarding these stocks given by the
most careful people in the street is that
they should all be bought, and especially
Brooklyn and the Steel stocks. If they
cannot be gotten on reeessions, 1t Is sug-
gested that they be bought on advances.
The fact that the Flower stocks are the
most attractive on the list to people who
know their intrinsic value has been men,
toned in this column heretofore on sew
eral occasions.
The earnings of the st. Paul road con-
tinue to increase in the marvellous way that
has now become a commonplace. The in
crease for the second week of May in the
gross earnings was $500 over the great
record of the same week last year. Com
pared with the second week of May, 1897,
the increase was nearly s150.000. The road
is now every week passing any previous
in its on hn
Despite the talk Of poor winter wheat
crop it cannot be doubted that there will
be prosperity for grangers. The corn crop
will be one OF the greatest on record, and
the spring wheat crop may be immense.
And in addition TO this business all of these
roads are busy with general merchandise.
The general opinion among the optimistic
critics of the market is that these stocks
will advance. but perhaps not beyond their
previous high level. The entire group
was strong yesterday, and made good gains.
Burlington went to 1873 Ia, and closed at
1873 Is. st. Paul opened at 124, and went
to 124 "a
With the Federal Steel securities, the
American Steels, Tennessee Coal and Iron,
and Colorado Fuel and Iron were also ac-
tive and strong. The buying of both the
latter stocks was particularly good in the
opinion of well informed people. Colorado
Fuel and Iron is many points behind the
Tennessee stock, and there are friends of
the former who believe that the gap will
be materially narrowed before the end of
the bull movement. The affairs OF this COM
pany are in excellent condition and its
earnings the largest in its history.
There were few stocks that did not par
ticipate in the buoyancy OF the general
market The coalers, In the fashion that
has become an old story, Jagged behind
with only slight gains or none whatever
The Pacifcs were slow, though no actual
loss was scored in any of them. The be-
lief is expressed in well informed quarters
I that the Pacific stocks will be taken up
shortly by their friends.
Sugar was one of the picturesque items
| OF the bullish situation. There has been
much selling of the stock of late, and after
the break on Saturday the bears attempted
| to hammer 1t down vciously. Despite this
fact, the stock is now higher compare
lively than any other on the list. day
or two before the break last week Sugar
was selling al 143 Yesterday 1t sold above
100. The large part of the list is still be-
low the level of last Thursday. Mr.. Law
son has repudiated the interview printed
! by one of the news agencies in which he
| was stated to have remarked that the
/ sugar war is DilleTeT tnau ever ana tne
| Sugar company losing money. He is un-
doubtedly buying the stock. The price
reached yesterday 160, has been picked out
| by some of the friends OF the stock as the
| top on the present movement, but there
1 was nothing in its movements yesterday
to suggest that 1t will not go five points
| higher. AS to the condition of the sugar
fight, there is excellent reason to believe
that Its end will be announced in the near
- toll
people.
The Vanderbilt and Huntington securi-
ties were less conspicuous in yesterday s
market than they were on Tuesday, though
they were all strong and all made ad
vances in prices. The talk OF the proba-
bility of an increase in the dividend Of
New York Central is still heard In the
street, and the tips to buy this stock are
plentiful. clique is manipulating Cen
trail Pacific and Southern Pacific and there
is every evidence that 1t wishes to put the
prices OF the stocks much higher.
Rubber common was one Of the weakest
issues on the list The selling was un-
doubtedly due to the relatively poor show
ing made In the animal report OF the COM
pany. 1t has been predicted that anywhere
from to per cent earned on the COM
mon stock would be shown and the report
shows only about 8 per cent. The direct
ors' decision not to declare dividend on
the common stock was also a disappoint-
ment The stock declined a point during
the day.
1t is generally understood that Anson R
Flower will succeed his brother in the
directories Of all the companies with
which the latter was connected. He has
already been elected to the directory ol
the Peoples Gas Company. This gentle
man is forceful and shrewd and will un-
doubtedly be q prominent figure in th'