Evening star., 1899-09-21
FINANCE AND TRADE
Somewhat Better Tone at Tcday's
Close in Stocks.
SHARP RISE IN METROPOLITAN
Brooklyn Rapid Transit Also Showed
Some Strength.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, September 21.-Iondon's
early market reports showed halting ten
dency in speculation i'm American shares
while other departments in the securities
markets there We're fiat Bank of Eng
land discount rate unchanged AT 81 per
cent.
In the local stock market opening prices
generally were higher than at last nights
close, and tie feeling prevailed that the
rally IN progress at the end of yesterdays
business should go further. Following
this better feeling the traders on the floor
turned buyers, helped by some of the larger
bulls. but the big bears fought the advance
and succeeded in reducing the gains on
most of the active stocks to about yester-
days close.
great deal of interest naturally GEN.
Tered in the Brooklyn Rapid Transit specu-
lation, and there was some disappointment
manifested that the stock did not open
higher Traders became somewhat more
fonfldent. however. on the rally soon after
The opening, at S3ie, and became buyers
The stock afterward advanced to above s3
on large transactions. The trading in this
pecialty afterward became a little less
feverish
Manhattan and Metropolitan Traction
both scored good early advances on the
reported decision of the state assessor to
ItN9 tdAeS uHueT new franchise law
basis or net earnings and not on market
value of capitalization, as the bears have
tried to make investors believe.
American Tobacco was a weak feature
in the noon trading The stock opened 124L
rallied to 1876 and then on no news excenf
that bears We're selling. 1t sold down to l2I
some lrregularity characterized the trad
ing IN sugar stock. but appearances tended
tc tne peiief that this speciality is likely to
sell lower, and this might be said. too. of
nearly all the active Industrial stocks after
the present rally Is exhausted.
London was not much of a factor in the
early trading On balance its sales amount
ed to only 10000 shares of different stocks
Coaiers in general were stronger and A
better feeling prevailed in that group Of
securities.
In the granger shares pressure to sell
was noticeable in the early trading and
the selling was somewhat augmented by a
reported failure of Chicago grain pro-
vision and stock house. This news came at
time when the bears were making strenu-
Gus efforts to overcome the better tone
mat prevailed in the earlier trading Their
efforts We're successful for a very briee
time prices declining to about the lowest
OF the day, but quickly rallying again when
1T was noticed that there was good buying
in most Of the standard shares.
Southern Pacific was one of the features
of the early strength in the market today
and the price advanced to 37a4 a gain of
IA points from yesterdays lowest. Trading
IN TINS speciality was marked by heavy
transactions. and although the stock seem
cd to come out rather freely at times stin
some strong interest appears to be heavy
accumulation of it, and the stock has held
up remarkably well in the weak market Of
the past week or so. The steadineSs OF
brooklyn Rapid Transit today and the ease
with which the stock now rallies lead a
great many people to think that the lqut-
datfon in that specially is about over and
If such is the case and the stock settles
down to normal proportions the general list
Is likely to profit thereby, the balance Of
this week at least
In the afternoon trading there was some
pretty lively covering of shorts. espectaI-r
iy in Brooklyn Rapid Transit, Manhattan
and Metropolitan. The latter stock sold I'D
above 81. an advance of points above
lowest of the day and a gain of 1IIs from
yesterdays lowest.
The general list strengthened considera-
bly, on the advance noted in the above
STOCK and prices reached about the high
est of the day. Money ruled 6aGIa