The times., 1899-08-15

The supposition is that the insiders who
have put the price of the common stock
up ten points on the announcement of the
statement are now selling out when the
document has appeared. It is believed
that the stock is likely to have a good
advance in the near future despite this
inside selling which may undoubtedly
continue today and even perhaps longer.
Tennessee Coal and Iron was the most
erratic stock on the list, although the
number of shares traded in was not so
large as that of some other securities
Its net advance was greatest also despite
the fact that slump from the highest
prices of the day of three points vas
made. Tennessee closed on Saturday at
Sc, after advancing three points. Yester-
day morning it opened at 81 IL and ad-
vanced at the rate of point at a time
almost, to 80 ga. This squirt was made
in the first FIVE minutes of the day. Later
in the session there was activity and
fuctuation over three or four point
swing, the close being at SO ga, with
net gain of nearly four points Colorado
Fuel and Iron also made good gains in the
morning hour, which were partly lost in
profit taking later. There is a DISPOSE
ton to believe the movement in Ten
nessee Coal and Iron about over for the
present at least, but it is very evident
that with a stock so well under the con-
troll of the insiders no predictions of this
character are worth much. The company
is earning an immense amount of money.
The report of the committee that ex-
amined its business as a basis for deter
mining the new wage scale OF its en-
ployes recently, reported that its average
profit per ton of $11. The company will
have an output of a million tons and
more If Its present record is kept up.
These figures give some basis for calcu-
lating how much is being earned on the
stock of which there is but S1,000,G00 of
the preferred and $40, coo of the COM
mon. $50
Colorado Fuel is having the same kind
OF prosperity and it's stock has not ad-
vanced so far as the Tennessee stock 1t
is better liked as a speculative possibility
by many and seems likely to have quick
advance If present conditions continue.
Other industrials than the steel and iron
securities were also active and buoyant-
American Tobacco made a rapid advance
in the early part of the day to lis IL, the
highest price ever attained by it. Later it
declined to III IA The Continental To-
bacco securities We're also buoyant, the
common getting as high as AZ "a. Peo-
PIE ) Gas WIS UUt Ol slilt SIlOu6tSi stcShs
on the list, with fine advance and no re-
cession from the high price attained, 122-
There was evidently inside buying OF the
stock Sugar advanced to 164 3-S and closed
at 163 1-2 with net gain for the day.
The railway list almost without excep
ton was sluggish and many stocks showed
small declines as result OF the days
business. The grangers opened half
alr thn nj inc rAPfn nf
Saturday, but lost all the initial advance
and something in addition. They closed at
the low prices for the day. The recent ad
vances in the price of wheat seem to have
had a chilling effect on this group, al
though careful estimates OF the wheat
crop make it certain that with the surplus
from last year there will be more than
600, ,000, 600 bushels available. Atchison
preferred suffered less than the others of
the group, and it was noticeable that the
buying in it was good.
Among the few railway securities that
were strong louisville and Nashville was
conspicuous, as usual. The top price
reached by it was rs and the close was at
rs 7-S. The buying was of the usual char
acter Southern Railway preferred also
was strong during the morning hours,
though some of its gain was lost later in
the day. These two securities continue TO
attract the attention of some of the most
conservative investors and spectators.
Pan Handle made a fine advance to rs
and fraction. The close was near the
top price AS the boom in this stock con-
tinues the minority stockholders grow
more and more enthusiastic over their
prospect of extracting dividends from the
Pennsylvania company
The annual statement of the Chesapeake
and Ohio was received by the street with
much favor The surplus is not a very
large one, but the showing Of business
ability in the management of the company
and of railway ability in the legitimate
reduction of operating expenses is most
promising of fine things for the coming
fat year.
Norfolk and Western was strong. The
stock sold ex-dividend per cent and re-
gained nearly point of the dividend be-
fore the close.