The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-09

The stock market again showed much
strength yesterday, prices in nearly every
case making good gains. and in some in
stances tremendous bulges. The public 10
a buyer OF stocks on a very heavy scale
and apparently it wants much more than 1t
has yet secured. There was much profit
taking yesterday and even some very heavy
short selling al times; but this. as stated,
in most instances, could not stem the eff
feet Of the buying. The public has an i'm
mense sum Of money to invest in stocks.
and IL is proceeding to make its invest
ments with expedition. AS prominent To-
cal banker said yesterday. in conversation
regarding the matter, money will be a drug
on the market for some time to come. and,
with the hope Of long period of large rail-
way. and industrial earnings ahead, it is
certain that large part of this surplus
wealth Will be put into stocks The result.
SO far as anyone now can foresee, will be
much higher range of prices. The differ
ence of opinion among investors and spec
rlators is as to whether the present big
boom will continue for some time longer
without recession. Many have been look
ing for slump since Wednesday morning.
Others have suficient faith in the public
buying power TO believe that there will be
no recession this week or next. Two years
ago. In the winter boom, the professionals
were always looking for break that never
came, and II was said that this entire con-
tingen; failed lamentably to take advantage
OF the 6ne opportunity for profits. 1t may
be that this will be the case now.
The New York traction securities were
the features Of the market yesterday, with
a boom such as they have not seen for two
years. Brooklyn Rapid Transit advanced
TO s. from an opening at 81. and closed at
the top. Manhattan advanced from 101 So
TO 1o7 So and closed at the top. Metropol-
itan advanced from 163 to 168 1-2 and
closed at 16s as. The boom had been ex-
pected in these securities for some time.
although already before the opening OF yes
terday morning there had been large ad-
vances in them all. The insiders have
been buying the group for several weeks
and in addition Tammany bought heavily
az cover for Its Bryan bets. The reason
for the inside buying was disclosed yester-
day. as far as the case Of Brooklyn is con-
cerned Of least. The quarterly statement
OF he company was published, and 1t
showed by far the best business ever done
since it's organization The operating ex-
penses were cut down to below 60 per cent
ana the gross earnings were increased in a
gratifying waY. and consequently the net
for the quarter was equal to fully per
cent rate on the capital stock The in
crease in net earnings for September was
$4,000 and the increase for the quarter
was 1896. 900. II will be remembered that
such a gain in net earnings was predicted
In this column more than month ago
As to the business of the Manhattan. 1t
Is known that Ii is very large and increas-
ing.y profitable. The company has been
obliged 10 put on a number Of extra cars
during the past few days to accommodate
the larger business. The new electric pow
eT will be In use on the Manhattan during |
The next two or three months. II is said.
The day was generally more satisfactory |
to the holders Of Industrial securities than |
to those Of railways. This is likely, It |
would seem, TO be the case for some time |
to come. The trust securities were held |
back more than the railway stocks by the /
fear Of the election Of Mr.. Bryan and /
their tendency is now to boom SO much i
the more buoyantly. The steel and iron
issues generally were again strong yes
terday and closed near the top with good