New-York tribune., 1899-02-12
financiai.
The Financial World.

which carries everything forward zood haa =.
Indifferent. Is over with for the press,, ~.
must expect 70 gee some stocks r. hack ,,,,.
Others are working UP. The ratification ., ..
Treaty By the Senate had no effect Worth sr..L
ing Of for II had only sentimental valns a..
way: the outbreak IN the Philippines had -
more. The rather lively reaction which -.
market had in the forepart Of the Ee4k w..
accompanied by alarming rumors q the aror,,
OF foreign stocks sold Quite fright ga. g.
by the disclosure that the Duke Of Portland,
10 shares Of Pennsylvania had been throw, ..
the market ard one paper promptly plbnss..
his portrait and sketch of his life. It was al.o
rumored when prices were at their iowest. ,b.,
Aguinaldo had been given UP on large sale, :,
Bay State Gas and Green Bay Bs TIT. bo.
ever. was denied on Montreal authority. az A..
the later rumcr when the market was rauv,,.
that he had cabled Mckinley y he would ,,,.
him a postoffice. he'd quit The selling ,,or.
ment appeared 20 have exhausted i,s., :,
Wednesday noon. and the upward turn torovs.
under the lead a Burlington which. BY the live.
illness Of its advance indicated that Mr. Yss,.
had recovered from his recent Illness. and w,,
feeling fine; and as a matter Of fact. this ~,
the case. Governor Flower. also 20, ov..
enough Of his tired feeling 10 rally the Feas,,,
Steel stocks and Rock Island besides givi,,
support 10 Atchson. He still remains tired =,
respect 10 International Tarer
Leaders in the rally. besides the stocks men.
toned. were the coalers. They have a rich, "a
be. II this weather isn't enough % bun ,hs,,
they must be IN a bad way The coasump,lo,
Of coal now is simply measured by the capacev
to deliver It 70 the consumer From the ROCKY
Mountains to the Atlantic coast. every he.tin,
apparatus in town and country Is chewing u,
coal about fast as il can DO ehovelled ,,,,
Il; and over the whole extent of country wb.,.
anthracite is sold. dealers are rapidly exhaus,,,.
their reserve supplies The producing cor.
panes will go into the Spring with Clean dsok,
They have got what the managers have 50 o.ts,
declared was the only thing which could DO them
any good-a cold winter. This should give them
the opportunity TO make the rcw combns,o,
Effective: the important steps % which are N.
derstood TO be the pending change in the nan.
agement Of the Lackawanna road And as
the supplies Of anthracite for this city specisur
IT will be necessary TO crowd them in as rama,
as possible for it is certain that with the letu
in the Arctic cold. the bay will become 50 Ans
with river ice that the coal boats are likely "a
find the way impossible. This happened one.
before. after severe cold spell. and coal deal.
ers were cleaned out before fresh supplies could
be got 10 them. r. therefore there is any tine
in which forward movement In the anthracite
shares should follow logically from conditions
both general and special. this is the time
Metropolitan stock continues It's phenomenal
advance. which is far and away from any rela-
ton to the dividends it is paying What he in.
sders have in view no one but themselves seem
TO know clearly and the property itself is In
such a state OF transition that outsiders expert
accountants though they may be, give up the
attempt TO formulate definite conclusions from
such published data as are accessible. What h
sure IL that the bulk Of the stock must be he'd
by insiders, and those closely affiliated With
them The public do not buy stocks at prices
which have no relation to the dividends they
pay. This is apparent in Brooklyn Traction
which is selling above - without ever psylrs
a dividend To sell at such figure IL requires
that the outside holdings shall be only small
proportion Of the total issue: while the insiders
have confident faith in the future Of the prop
erty.
AS 70 Manhattan. Il is a little puzzling 10 find
Mr Sage talking as though the plans for chang
]
air: when. as a fact. the syndicate has already
been formed and the subscriptions received to
take the new issue OF stock which the execution
Of these plans necessitates. The syndicate was
not formed until exhaustive examination had
been made OF the plans formulated; and untl
/ the managers were satisfied of the correctness Of
the estimates OF Increased earnings. For NJ
Sage to talk as he has been doing. at this ATE
stage of the proceedings. arouses the suspicion
that age is beginning 70 affect the old gentle
mans faculties
The strength Of the ST. Louis Southwestern
securities which held steady even when the
market was weakest. shows that the Chicago
&. Eastern Illinois people are willing to ouy
whatever any one else is willing TO sell Tney
have become enthusiastic over their plans fo'
connecting the two roads. and talk OF great
things to result from it.
Comment is made on the failure of the diree'
tors OF the Nickel Plate road 10 declare the dy''
dend on the first preferred stock while the earn
ings are about the largest the road ever haa
The Vanderbilt properties are going lnFousA
such a series Of mutations that II may be t0f
Nickel Plate is included in the new deals anu
the failure 10 act on the dividend at the time
when action is due may be part OF the p'S
gramme.
Whatever speculation there has been IN "a
cifc Mail on expectation OF the passage OF '"'
subsidy BILL is likely TO go out Of the STOCK now
for the House has virtually served notice 'Ha'
the demands upon the revenues prohio' s''A
an increase Of them as the bill contemps'e'
But the Pacific Mail Company is doing al NV
business 1t can do and is likely TO continue 'H''
way Even the steamers OF the new Atenis0N
line have more freight offered than they 70. 20.
carry The ocean carrying trade OF the fA''''
from these shores is only just beginning
The Steel Wire stocks have swung WIN ~
general market. as is natural Some on''''' "e
ures on the property will have interest 10 NV.
who have the stock and those who con'e'D''a"
taking some. A press item the other dS' -
toned that the wages of the employees ha'
voluntarily raised 10 per cent. ana tha'
were 3G 600 men on the corporation pa! "a,
f1..rn