The times. [volume] (Washington [D.C.]) 1897-1901, 1899-11-03

poets. Wall Street was uOOueu Will tue
document. and copies reached brokers
Offices in this city. The effect Of the an
onymous communication" seems TO have
been to create a healthy bullish sentiment
regarding the stock. Ii has besn advanc-
ing steadily for the past two days, and
closed yesterday at 112, after going as high
as ll2 - Mr.. Sage expresses the sentl-
ment that the circular is a falsehOod as TO
its assertions and a swindle as TO its pre-
diCtion. Others who discussed II yesterday
We're of the opinion that il was put out by
one of the big bucketshops. The best in
formation Obtainable regarding Manhattan
is that it has been practically cornered by
bull clique, and that it VIII have an eX-
celleut advance in the near future.
Another circular Of a different nature
that created much favorable comment
among the few people that saw 1t yester-
day was a statement sent out by the
American Car and Foundry Company to
the stockholders of the concern. The
statement was a particularly attractive
document for two reasons. Its facts re-
garding The extent and the prontabieness
of the business of the concern were hne.
Quite as important as this, however, was
the indication that the policy Of the com
pany is to keep its stockholders informed
regarding its business 1t is shown that
something like per cent, and that the
contracts already made for new business
aggregate many millions of dollars. The
present price of this common stock, and
also that Of the preferred, are most re
markabIe when these facts are considered.
The preferred, q per cent dividend payer,
is selling around GO and the common at II.
Southern Pacific was the feature of the
T 1sg+ l
big lots all day and advanced steadily
10 the highest price since the big boom oil
last winter The top figure reached was
Il 81 and the close was at Al 5-o. Moore
& Schley were the principal buyers, and
It was said that they were accumuIaung
il for important interests. The immense
earnings of the company this year, the fine
statement of September issued this week,
and the fact of the meeting of all the
Southern Pacific interests in New YORK
on Wednesday. have all tended TO make
the street extremely bullish on the stock
It IS asserted very positively by people
close to one of these interests that both
Southern Pacific and Central Pacific Will
have an immense advance in price IN the
near future. Another security that Is con-
sidered particularly attractive in consery-
alive quarters is Union Pacific common
People known to be in close touch with
the affairs Of the company profess to have
no hesitation in advising its purchase for
one of the largest advances that will be
seen among the Western securities In this
case also the known facts regarding the
earnings of the company strongly supple
ment the predictions of its friends.
The pessimistic remarks regarding Chi
cago Gas by Wall Street tipsteTs a few
days ago and alluded TO at the time in this
column, have not yet been borne out by the
action of the stock. Yesterday it was
buoyant on good buying by Flower and
others ct one time, and although part
Of its gain was lost, il closed with
good net advance. There is talk Of prob
able further advance. The regular diyi-
dend was declared yesterday.
Big Four common was buoyant yester-
day following the lead set by the pre-
ferred on Wednesday The stock went to
/ 81 rs. and closed at 81. with a good net
gain. A statement OF President ingalls,
that the preferred stock cannot be called
! in by the company at par, as many have
( believed, is the immediate cause Of the
streets bUlIishness regarding both these
securities. but the excellent earnings and
prospects Of the company are undoubtedly
the groundwork. The Financial ChrOni-
cle" was the authority for the statement
that the preferred stock could be called IL
at par, and it was generally credited.
Sugar is fulfilling all the predictions Of
the bulls in quite satisfactory way 1t
advanced rapidly yesterday from 154 3-8
to 159, and although the top price was not
held the close at 157 "a shows a fine net
gain for the day.
Leather common was again bought heav-
fly for the Standard Oil people yesterday.
II was said that they took more Of the
stock than on any day heretofore. 1t adj
vanced to 50, which is ten points higher than
fl has ever been before, but later sold off
somewhat The preferred also was strong,
selling as high as 81 -. The tactics Of
the buyers Of these stocks SAVIOR strongly
Of professionalism Of the worst kind, and
despite the continued advance in them con-
servatiye people are giving them a wide
berth.
The Federal Steel issues were fairly
strong yesterday. and there was renewed
interest in Colorado Fuel and Iron. Wire
common was again weak The latter stock
is receiving its full share of abuse from
investors and il seems quite certain that
its manipulation by the Gates crowd viii
prove costly business TO the YVire con
1 Germ. and its securities in the end The
public does not see very far in the stock
market. and 1t does not remember very
well but there is, perhaps, limit 10 both
/ It's shortsigh tedness and its forgetfuness.
Washington Stock Exchange.
! Sales-U. s. As, registered: S5006111 1-2;
/ T. S As, coupon: s50d111 -; u. s. Elec-
/ trio Light, cert: $1O0a14; Potomac Fire
J Insurance: Bar -; District Title Insur-
ance: 320a3 II; Washington Gas: 5@
81 IS, 25G5T1-S; Lanston Monotype: 200
/ Ql6 rs; American GraphophOne, prefer
rod. 7nnM1970