The times., 1899-06-15

forms of piles will be sent by mail, by ad-
dressing the Pyramid Drug Co., Marshall,
Mich.
have 10 break prices lower than they have
been at any time yet to get this stock.
The bears are the room talent The bulls
who bought stock yesterday were the
Flower crowd and the Standard Oil peo-
l pie. The advice given in conservative
quarters last night was to buy stocks on
all reactions for good advance. The news
OF the latter part Of this week is likely
all to be bulllsh. But one unpleasant fea-
I ture hangs over the market. 1t is
quite conceivable that the bears may at
/ tempt to raid Sugar on the testimony of
Mr.. Havemeyer before the Industrial Com
mission. What they could do if they de-
sired is doubtful, but it is possible at least
that the stock may tumble and have some
effect on the general market. This would
/ indeed, be very easy matter if Mr.. Have
meyer were to side with the bears at this
time. Rumor has 1t, however, that he is
buying the stock instead of selling it.
The market was irregular to a peculiar
extent The industrial shares and the
specialties generally were advanced during
the day and many of the best of the rail-
road stocks. including the grangers, had
small declines. The explanation of this
seems to be that the leaders of both the
! bull and the bear sides concentrated their
efforts on the industrial and other active
| stocks. The grangers, owing to a trifie
| better range of prices on wheat in the
morning and. to the influence of the de-
| cline on Tuesday afternoon, were inclined
| to sag. The stocks most dealt in were
marked up in almost every instance. These
| figures are interesting in this connection:
| Active stocks that advanced during the
day-Steel and Wire common, "a; Sugar,
2 1-2; Brooklyn, 1-2; Consolidated Gas,
L.; Federal Steel common, 1-2; Federal
Steel preferred, is; Manhattan, 3-4;
New York Central, 3-S; Reading preferred,
/ 3-S.
Active stocks that declined-Atchison
/ preferred, is; Burlington, Ia; Chicago
/ Gas, is; St Paul, 1-2; Rock Island, 3-S;
1 Metropolitan. 8; Pennsylvania, SIS; Mis-
souri, Pacific, 5-S. Among the stocks which
! declined the only important one was Me-
| tropolitan, which was marked up rapidly
on Tuesday.
The news of the day was interesting
/ and it was all bullish in its nature. The
/ dividend on Northern Pacific common stock
! was one Of the encouraging items. II is
/ the first in the history of the company. No
statement was made in announcing the
/ dividend as to its period, whether semi
annual or not. but it is inferred that it is
I semi-annual. The company is earning more
than per cent annually on the stock and
/ there is the best of outlook for 4 per cent
/ during the coming year. The road is ac-
! tually unable to do all the business offered
/ It, although freight cars are being supplied
/ as fast as they can be turned out One of
/ the tips from Chicago yesterday was TO
/ the effect that both Northern Pacific
stocks will be advanced rapidly in the
next few weeks, on Western buying.
The regular Western Union dividend was
declared yesterday as had been expected.
although during the early part of the day
] there was a rumor that it would be re-
/ duced. The statement Of the company
shows that after paying the full dividends
| there was a surplus OF S20S, 700, for the
| quarter, a decrease of about 500, 600. This
I showing in face of the general predic-
tion that the company would show a de-
felt, is another OF the piling up evidences
that the bears have been founding their
raids on misstatements and miscalcula-
tions of the cheapest and most glarine
kind.
an authority not to be questioned made
the statement last night that the earnings
of New York Central for the first week
of June were superb. The increase. ac-
cording to his figuring, will probably show
larger than that for the entire month of
May Some such rumor seemed to have
reached the street yesterday Afternoon, as
the stock was particularly strong.
The steel stocks were strong yester-
day in the face of heavy selling. The evil
dence piles up that these steel companies
are all making tremendous earnings, and
this with the new dividend announcements
every week or so, is having its legitimate
effect on the price of the stocks. Fedora!
Steel common should have good advance
today in the opinion OF its friends, be-
cause of the dividend announcement 10 be
made this week. Steel and Wire common
is not as well liked by the public, but
there is good evidence that the selling is
about over in the stock and that it will
have good advance in the near future
The statement is made of the National
Steel concern that it has already earned
the dividends on the common and pre-
ferred stocks for the year, and that the
total net earnings for the year will proba-
! bly, aggregate $4,000, 600.
Wheat opened at high price, compare
lively and this fact had depressing effect
on the grangers. Later in the day there
was break in the price of wheat of over
half cent a bushel, and the closing price
was within an eighth OF cent Of the low
est for the day. The outlook is for con-
tinuance OF the weak market today, which
would unquestionably have a good effect
on ST. Paul and Rock Island. The earn
r ings Of these two roads depend very little
on the winter wheat crop but the street
has made Il the fashion to sell the grangers
: when wheat is high. ST. Paul is earning
I about u per cent on the common stock,
but there are all kinds of bear rumors that
this stock Will sell ten points off in the
next two months. nevertheless. Buy the
] grangers on any little reaction and hold
2 them for good profits.
t There is tip out to buy Spirits COM
, mon stock.
Manhattan and Brooklyn were both
y strong yesterday despite vicious selling by
| sh he Of thaca atncl.e