The times., 1899-09-06
Yesterday,s STOCK market was the best

Yesterdays STOCK market was the best
in many days, with prices advancing dur
ing nearly the entire session and a close
near the top for the day. Under the lead
ership of the Yanderbilts at first but later
with business well distributed and partic-
ularly heavy in the steel and iron and coal
securities the movement partook much of
the characteristics of a boom. There have
been several days during the past month
or more when the uniformly strong market
has seemed inclined to advance rapidly and
when the bulls have looked for the begin
ming of a good upward movement. In
many ways yesterdays buying and ad-
vancing prices were more suggestive of
such boom THAI any of the other buoyant
days have been. The movement was more
widely distributed, including more groups
of stocks. 1t was more persistent, lasting
from the opening TO the close of the ses-
sion. 1t was led by the standard issues
and not by the specialties. The buying of
the Vanderbilts. the grangers, and the coal
ers suggested very strongly that the lead
ers of the market have entered the field
with the intention of advancing prices
well. The Vanderbilts, the Flower inter
ests, the Goulds, and the Morgan contin-
gent were all apparent in the buying yes
terday at times. The street is inclined to
bullishness and the commission buying
MdS SDOd dl Ai.ncs- news,
and general, is all satisfactory. Money was
cheap yesterday, and the bank statement
last week was forgotten. Earnings state
ments, while not showing SO large in
creases as those during July are at the
same time all excellent. The cool weather
is approaching. The advice generally
given by careful brokers is to buy sto ks
on all recessions. Many do not look for
any recessions of moment today, and will
buy at the opening, expecting higher prices
before the end of the week.
The two movements of the day that at
tracted most attention were the squirt OF
the Vanderbilts in the morning hours and
that Of the iron and steel issues in the
afternoon. The Vanderbilt boom may per-
haps, be considered most important to the
general market because of its indication
that the Vanderbilts are buying stocks
heavily. A boom of Importance is not
often started by such stocks as Tennessee
Coal and Iron, but when New York Cen
tral, Northwest, Omaha, Big Four, and
the Union Pacifics all advance handsomely
the public begins TO watch the movement
closely and is more than likely TO follow
1t. New York Central opened at l39 1-2
and closed at 140 having reached l40 1-2
at one time during the day. Northwest
advanced from 167 IA to III "a closing
at the top price. The stock has never sold
at this price before, and the per cent
preferred was at this level a year ago
Omaha went to 125 and closed at the top.
II is the general comment of the street
that these prices are not warranted by
what is known of the affairs of the com
panies outside of the inner coterie, and that
some deal of Importance must be on foot.
Both lines are doing an immense business
and are managed handsomely, but the div
idends they are at present paying are not
large. Big Four went as high as SO is
and closed at SIS "a. Chesapeake and Ohio
advanced TO 20 and closed at the top The
Union Pacifics both advanced, the common
getting as high as As Ia and closing at
IS, and the preferred getting as high as
so 34 and closing at so SIS. The Union