The times., 1899-02-03
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not large. Southern Pacific, in which the
Hunter, Cooper &, Co. crowd were active
buyers, as they We're two weeks ago, re-
acted more seriously. Both of these Hunt
ington securities are regarded as good
purchases at, their present prices, how
ever. and it seems very certain that the
pools in them viii become active again, as
soon as the market is in the least favor
able.
Pacific Mail was let off very little on the
break. Despite the feeling in the street
that this stock might be dangerous TO
speculate in after its large rise it is prov
ing TO be very steady and strong near TIE
top of lis advance. One reason for this =.
perhaps, recent declaration of Mr.. Hunt
ington that he has not sold dollar OF his
large holdings of the stock. He is report
ed to have said that he is receiving per
cent for his stock, and expects that the
rate of interest will be increased shortly,
and therefore would consider it foolish
move to sell out. The holders of Pacific
Mail other than Mr.. Huntington seem,
mary of them, to be equally unwilling to
part with it.
New York Central reports n surplus OF
$609,167 after all charges, and the dividend
for the quarter, which ended December 81.
MS is an increase OIL S5lf,-sS. VI siA
months the surplus was 81 ,162.77i, show
ing an increase of $226S35. The showing
is of course an excellent one. There were
tips out yesterday morning to buy the
stock and its strength during the after
noon drive shows that they were followed.
The opening was at an advance and the
close for the day only an eighth Oh
The st. Louis and San Francisco Com
triI of
per cent semi-annually on the second pre-
ferred stock. There had been some talk of
the possibility of a higher rate, as four per
cent or more is being earned, but the ac-
tion of the company is considered emf
nently satisfactory. The Stock is selling
around 40 and would seem tc be entitled
to higher level.
One of the news agencies yesterday pub
lished the story that committee of Mi@h-
igan wholesale gTocers has found it in
possible to induce Mr.. Hayemeyer to agree
to any amicable arrangement of the sugar
fight in Michigan. The statement is tina;
the opposition refiners were willing to
come to terms but that Mr.. Haveme; er
told the Michigan people to buy their sugar
where they chose, of the trust OF not.
Sugar stock is undoubtedly very stfcng,
for some reason unknown. There are vio-
lent reactions every day Dut the tendency
is upward all the time.
Another raid was made on Chicago Gas
yesterday under cover of the depression in
the general list. The price was sent down
to ia 5-S or more than two points. There
are whispers on the Street that short
pool has been active in the stock. hoping
to break the price. 1t is said that Mr.
Flower and his people intend to squeeze
this crowd until every crop of blood is
gone. One prediction alleged TO have been
| made by these gentlemen is that Gas will
go to 125 before ii reacts to, 113, around
which figures the shorts began TO load up.
The new stock OF the American Steel
and Wire Company was traded in for the
first time on the Exchange Wednesday.
The prices of the common and the pre-
ferred issues are around 30 and 81, re-
spectively. There were advances from
Wednesdays prices yesterday morning
but during the general recession later they
is that the preferred stock is cheap at the
present price
Yesterdays business on the local cto"k
Exchange was one of the largest of the
season, and thus will compare 10 advan-
tage with the best days in the history of
the Exchange. Upward of LOO shares
49, 'iHtNA 4ii a NSAIu' vi f'V,VVV.
Prices showed some recovery from the
slight declines OF thelast two weeks.
Capital Traction contributed $50 shares
to the total amount of the days business
the value OF the stock being somewhat over
1900. The price of the stock showed
| some recovery, the first quotation being
so and the last 81. u would seem that at
the present level Capital Traction should
be a good purchase. Some people who
| have not examined the annual statement
carefully have been unfavorably Impress
ed with it, but it is believed that the rec
ords of the road will show very clearly
something over per cent earned on the
stock during Inc period in which the cleo
trical equipment has been in operation