The evening times., 1900-01-26

Another change in The situation m South
Africa had its corresponding effect on the
London market this morning and again
there was tumble in prices on this side
as a result During the first hour OF the
day prices declined from a fraction TO
point or more all over the list. with par
ucular weakness in the international Sc
curites and the more volatile mdustrials.
There was some indication of a recovery
around II O'Clock. but the market WAS
very dull and in the face of the bad war
news traders were not inclined TO make
very hopeful predictions. 1t is needless 10
call attention. as the financial men do ey-
cry day. 10 the fact that the war in Soutb
Africa should nor have any effect on the
New York Stock Market. The fact re-
mains that disaster TO the British arms
causes weakness in Sugar and Brooklyn
Rapid Transit. and good news makes
American Tobacco buoyant. II further de-
cllnes occur there viii be good buying for
investment and for speculation. and il is
Well-nl2h certain that no recession will be
attain 10 important proportions On the
other hand. the market leaders may at
any time begin bull campaign. Money
yesterday was loaning at > 1-2 per cent
Tor several hours. and at no time was
there any necessity for paying more than
3 per cent for call loans. Time money
also was easier. The bank statement TO-
morrow viii be excellent.
The probable outcome of today's meet
ing of the Brooklyn Rapid Transit Com
pany was chief subject of gossip in the
street. Opinion seemed 10 be tending to-
ward the theory that a dummy board of
directors would be elected. so that the
new interests in the company may keep
their plans under cover for a time longer.
The entire traction group was relatively
strong this morning owing TO the per-
sistency of the story that all the traction
lines in Greater New York are to be con-
solidated. One suggestion is that within
a short time Brooklyn Transit cars will
be crossing the East River to Manhat-
tan Island, covering portion of that sec
tion and returning to Brooklyn by another
route.
Sugar early in the day began to sag
In price and before il o'clock was below
115 II showed no support worth men
tioning aud many were Of the opinion that
ii would go lower before the end of the
day. American Tobacco. Leather. COM
mon. and other active industrial securi-
ties took the same course. News regard
ing those companies and their securities
was good as far as il went talk of the
heavy business and large earnings of the
steel and iron companies being heard
again.
The National Board of Trade favors the
Subsidy bill but there was tumble of a
point at the opening in Pacific Mail this
morning.
Rock Island was relatively strong this
morning. while the other grangers and
international securities were losing
ground. The Senate yesterday passed a
bill to grant the railway a right of way
over the military reservation in Oklahoma
Territory. 1t is said that the company has
been holding up promising plans for the
passage Of the bill.
There is talk OF the disintegration OF
United States Flour Milling Company by
the withdrawal OF some of the most inn
portant Of its constituent companies.
but officers OF the concern state that there
10 no truth in the rumors. and cannot be,
as nearly all the stock of these constitu-
ent companies is held by the conso' idation.
IL is stated by those in authority that the
company is doing an excellent business,
and could do much more except for lack
Of working capital. An issue of bonds is
talked of.
The advance In soft coal prices 10 go
into effect on April will make the earn
ings of the Norfolk and Western even
larger than they are at present.
washington stock Exchange
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