The evening times., 1900-10-17

The opening in the Stock Market this
morning was strong, but later a tendency
10 decline was shown, which m.Qy be
lieved would develop into reaction o.
some Importance before the end of the
week The explanation which seems the
most probable for this situation is that
the Republican clique which has made the
boom wished TO show that it was not afraid
or the Bryan demons tration before il began
10 sell out its securities. II is, of course
certain that the clique will sell out all the
stocks 1t has been forced to take in ad-
vancing prices against an alarming public
spathy. The only question with the clique
is whether Il will be able to do this with
out loss to itself II the rank and file Of
Wall Street, which is of course, Repub-
lican, too, became frightened over the Bry-
an enthusiasm in New York the slump in
p1ce would be so sudden and so big that
tae clique would not be able to get ont
whole. The outlook seems 10 be for
slump, but not for a sudden and violent
one When prices go off this time some of
the most careful people in the Street be
lieve that stocks should be bought for a
permanent advance, TO come soon after the
election. no matter who is 10 be the next
President.
Money continues easy and the fears OF
stringency are a thing of the past The
gold imports already engaged amount TO
something like So coo coo. and il seems
7ntirely probable that this amount may be
doubled or quadrupled in the coming
month. At the same time the shipment of
gold to the interior Will be stopped and a
return flow to that centre will begin in
earnest Three per cent call loan rates
and even smaller rates, are to be eM-
pected this winter
Peoples Gas was the most buoyant
stock on the list this morning with an
advance in a few minutes from 81 and a
traction TO 80 The prominence CT tn
and other speetalties IN the PR ssnt mar
ket indicates very clearly the all IMPORT
ant work of the ciIques. 1t is not . ssh
Bile for anyone on the outside to say if
the gas war is settled or not Presi-
dent Billings is quoted as making the
statement that the war still exists What
Is probably the fact Is that the war can
be settled at any time the Peoples COM
paHy desires, If il is not already thins
OF the past or if it ever really existed
The boom in Union Pacific lest it's en-
thusiasm this morning. and soon after
the opening the stock began to tu1b!e in
price. IL seems entirely likely that the
stock will sell off or 3 points before it
advances to 65, the price predicted by the
Gates crowd at the time when they were
beginning to unload under cover Cf small
ostentatious purchases Unicn Pacific
even II entirely deserted by this CLIQUE
however. will not be depressed far. as it
is instrinsically worth much more thaf!
even its present price.
The earnings of the Missouri Pacific for
the year ended June 90 were far in ex-
cess OF those or anY previous year and
fully equal to the most rosy predictions
of its friends. The stock is worth more
than its present price on the basis of
earnings and viii probably sell much
higher. though the conservatism of the
management regarding dividends Of
course will prevent ii from getting as
high as some other securities moi any
more worthy
It is pointed out with regard TO Nor
folk and Western common stock that it is
now Pennsylvania controlled stock and
that the Pennsy ylvania management is moi
noted for its liberaIity in the matter of
dividends to securities thus circulated
Norfolk, common, Will be somewhat ham
dicapped by this fect. although the earn
ings of the company continue superb.
Sugar was sold off to below 12o before
noon.
The New York traction securities all
made good records, though selling
off somewhat from the openinp
1t is said that there are rx
'-ellent evidences that the control in
Brooklyn has been bought in by new peo-
pie. The steadinessi with which the new
advance is maintained and the absence OF
pyrotechnics in it's movements recently
Is given evidence of this As has
been said before ii has been evident that
there was good buying, apparently for
such control, for some time past If the