The evening times., 1900-03-24

There is more and better buying in the
market than for any time in the past year,
or since the big advance in prices Of Jan
uary, 1883. There is a very large short
interest in the market still uncovered.
Money is easy, and is sure 10 be easier
before there is any tightness. The last
OF the poor bank statements was succeed
ed today by showing Of a large increase
in reserve. Prices. although the highest
on record in many securities. are still
comparatively low in many of the standard
issues. These are the technical matters
which promise continuance of the fine
boom of prices that has taken place dur
ing the past two weeks. The intrinsic
conditions are perhaps, on the whole. bet
ter, markct-wiSe, than they have ever been
before in the history Of the exchange
Earnings, both in the railways and in the
industrial companies. are record breaking
Total dividends on the entire railway list
are larger than ever before. The promise
for the future is for more than a continu-
ance OF the present prosperity. London is
heavy buyer Of American securities and
in the past two weeks has taken hundreds
Of thousands Of shares. it is estimated.
The outlook is certainly good for higher
prices all along the line next week
high opening should be looked for on Mon
day. and il is not impossible that a recess
sion may follow on realizing sales. Later
the steady advance should begin again.
The closing prices today were the best of
the week, and of the year in large part
Of the railway list, and the highest on rec
ord on many Of the low-pricer securities.
The bank statement exceeded the hopes
OF the most optimistic, with an increase of
more that $4,000, 600 IN reserves and only
@ small loss Of cash. The figures are as
follows Reserves increased S3130,S $50,
loans decreased s12.560, zoo, specie de-
creased $1,000, zoo, legals increased SEQ,
GOO. deposits decreased $13 946 800, circula-
tion increased $319, 300. The losses to the
sub-Treasury were small, if they were not
entirely wiped out before the figures were
made up. The flow of gold to the interior
also almost ceased. The great decrease in
loans again changed the complexion Of the
statement from bad to good, as it did last
week.
Baltimore and Ohio, preferred and COM
mon, were again the feature of the mar
ket. as they have been on nearly every
day this week. They both made new high
price records again, the common at 76 IS
and the preferred at 81 ga These stocks
continue to advance, although perhaps a
large majority of the careful people in the
Street have believed for some time that
the common, especially, is too high in
trinsically. These people are coming
around to the view that the insiders must
know of a 2 or 2 1-2 per cent dividend
TO be declared for the half year. There
have been stories of such a dividend for
several days, but they have been put down
for the most part to the credit of
speculative Clique. A per cent dividend
rate, or even a per cent rate on the
common stock, would undoubtedly make
the stock worth more than its present
price.
The other trunk line securities were aIso
active and buoyant Both PENNSYLVANIA
and New York Central are fulfilling the
predictions of their friends in a most sat-