The times., 1899-05-20

bears are also confident. 1t would seem
reasonable to expect after the weeks bust
ness and fluctuation that the opening to-
day should be good and the movement OF
prices upward. at least until 1880 o'clock
The close yesterday was strong, though
not buoyant, and in such case it is a
fayorite method of the bulls to close the
week with an upward tendency for the
effect that it will have on the public. The
bank statement is expected to be good.
The days business cannot be said to
have been important in any way except
that it demonstrated very strong under
tCne in the market. There were no vio-
lent fluctuations in any stocks, and the
closing prices were in nearly all cases
only fractionaily away from the opening
There was little news of any kind in the
street. The Flower stocks were again the
feature of the list, and the stocks on which
both the bulls and bears concentrated their
efforts. The contention of the optimistic
that the strongest efforts of the bears pro-
duced almost no net result is worthy of
consideration. when it is remembered that
their recent advance was more rapid than
II has been at any time before this spring
Brooklyn closed at 116 on Thursday. and
in the early decline yesterday went as
low as ia Ia. Ii rallied from this price
at the close to lis ga only IA off for the
day. Peoples Gas was strong at all times
on good buying in Chicago, and by the
Flower crowd. Its greatest recession was
less than two points. and it closed the day
only Is off. Federal Steel common closed
only Ia OF, as the net result of all the
heavy selling of the bears, and the pre-
ferred stock closed at the opening price.
Atchison preferred and Rock Island were
only fractionally off despite the great
strength of wheat in the morning trading,
and the poor crop reports that were cir
culated. The outlook is that these stocks
will all be strong today, and it is not
thought to be improbable that they may
close the day near the top prices for the
week. Much depends on the attitude OF
the bull leaders. 1t is said that the ad-
vance OF these stocks during the early part
of the week was too rapid to suit the taste
of these gentlemen, and they may decide
TO allow the market TO take care of itself
for day or two longer. In any event the
situation is bullish for any extended period.
The natural expectation was that the
granger shares might be weak yesterday
on account of the winter wheat outlook.
There was heavy selling of the group on
this theory. The result is most satisfac-
tory to cle bulls. Burlington. the most
active of the group, closed the day with a
net loss of only point. and ST. Paul half
point of. The other stocks have been
mentioned. A tumble of a point in the
price of wheat in the last hour of the day
is likely to be continued today and If this
proves TO be the case it Is predicted that
the grangers will advance. A story some
what circulated yesterday in the street to
the effect that dividend of 1-2 per cent
is to be declared on Atchison preferred
Immediately, received little attention. The
understanding in well informed quarters
is that the directors will declare the divi-
dend in June and pay 1t in July, making
no change in their original programme.
Sugar was again one of the most inter-
esting stocks on the list. The fight be-
tween the two sides was continued with
vigor. The story circulated in the street
was that Mr.. Keene had decided to break
up the bull campaign Of the Boston crowd
which has undoubtedly been the cause of
the recent great strength of the stock.
Mr.. Lawson, however, was also aggressive
and the efforts of Mr.. Keene and his
friends accomplished no result as far as
the net movement of the stock for the
day was concerned. the closing price being
above the close of Thursday. The Boston
ptlSlci llclI opiIiOu that lie
sugar war is practically over and that
Sugar stock will be selling much higher
within the next few weeks.
The Union Pacific stocks which have
been the subject of much bullish comment
of late were very strong yesterday, COM
pared with the remainder of the market.
The common stock made a net gain for
the day and the preferred closed with only
small loss. 1t is understood that the
Vanderbilt interests are buying the stocks
steadily.
The Brunswick Land Company's stock
was active yesterday and strong around the
top figure reached by 1t on the squirt of
Thursday. This stock is one of those of
which Mr.. Carley expresses very bullish
sentiments, and it seems probable that his
predictions with regard to 1t will be full
filled in the near future. 1t is said that
new capitalists are TO become identified
with the company and that their intention
is to boom its affairs.
Rubber was one OF the strong stocks yes
terday, but it is not understood that the
advance made by it was any more than the
natural recovery after the hammering that
1t received on the two days before. The
rally was looked for yesterday even by
the bears.
The talk of Manhattan is bullish and
there seems good reason for supposing
that the stock will advance well during
the coming summer, when the bulf cam
paign gets well under way. Before the
end of the summer boom in prices the
road will be equipped with its new cleo
trio power and it cannot be doubted that
the visible progress of the construction
will be a bull argument to New Workers.
Norfolk and Western is one of the stocks
most in favor with the bulls. The traffic
of the road is very heavy and the earnings
statements are sure 10 make an excellent
showing. The company was forced to
order 1000 new freight cars this week.
The common stock of this company is
being picked up by people who expect the
good priced issues to advance well
during the next few months. Its prospects
for dividend Immediately are. Of course,
not large, but it is not in the least un-
likely that a good surplus for the stock
will be piled up this year.
The local stock market was without not
able features. prices ranging near those OF
Thursday. The amount OF business tran
sacted on the exchange has fallen off
somewhat since the various deals of the
.INC'S. 90 9: