The evening times., 1900-01-26


Africa had its corresponding effect on the
London market this morning. and again
there was tumble in prices ON this side
as result During the first hour OF the
DAY prices declined from fraction TO 4,
point or more all over the list with mar
ucular weakness in the international s.,
curiucs and the more volatile indusf-IaIs
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 40 make
very hopeful predictions Il is needless IN
call attention, as the financial men do py-
cry day. 10 the fact that the war in S.utb
Africa should not have any effect on the
New York Stock Market The fact re-
mains that disaster 10 the British arms
causes weakness in Sugar and BROOKLYN
Rapid Transit, and good news makes
American Tobacco bu0yant II further de-
ciines occur there will be good buying for
Investment and for speculation. and IL is
Wel-nigh certain that no recession will be
attain 10 important proportions On the
other hand, the market leaders may at
any time begin a bull campaign. Money
yesterday was loaning al PIP per cen
Tor several hours, and at no time was
there any necessity for paying more than
) per cent for call loans. Time money
also was easier. The bank statement to-
morrow will be excellent
The probable outcome Of today's meet
ing OF the Brooklyn Rapid Transit Com
pany was a chief subject Of gossip in the
street Opinion seemed to be tending to-
ward the theory that dummy board OF
directors would be elected so that the
new interests in the company may keep
their plans under cover for time longer.
lhe entire traction group was relatively
strong this morning. owing TO the per-
slstency 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 10 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 II o'clock was below
115. II showed no support worth men
tioning and many were Of the opinion that
ii would go lower before the end of the
day. American Tobacco. Leather cym-
mon. and other active Industrial se.uri-
ties took the same course. News regard
Ing those companies and their securities
was good as far as il went talk If the
heavy business and large earninye ~ the
steel and iron companies 5eipg heard
again.
The National Board OF Trade fsvors the
Subsidy bill. but there was a 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 we're losing
ground. The Senate yesterday PASSED a
bill to grant the railway a right of way
over the military reservation in Oklahoma
Territory. II is said that the COMPANY has
been holding up promising plans for the
passage Of the bill.
Theie IS talk Of the disintegration OF
United States Flour Milling Company by
the withdrawal Of some OF the most i'm
pOrtant OF its constituent companies
but officers Of the concern state that there
is no truth in the Tumors and cannot be
as nearly all the stock of these constitu-
ent companies is held by the consolidation.
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 TO 20
into effect on April l will make the earn
ings of the Norfolk and Western even
larger than they are at present