The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-19

! noon and had much to do with turning
the tide after the early declines which
many believed would continue during the
entire day. When the timid bulls saw
this buying they plucked up courage and
| bought more stock. though they had at
first intended to sell out all they had.
New York Central was the feature of the
list with an advance during the afternoon
o. three points or SO from $50 12 at the
| opening TO 1873 IA. The close was at
1872 ga. No particular reason was given
for this buying, but undoubtedly 1t caused
many wayering market people to turn
bulls. The merits of Central stock are
| undisputed. Few conservative market
| people will question either that Il is
likely to sell at a very much higher level
If the general market is strong.
Chesapeake and Ohio was another stock
| that ii was said the Vanderbilts were
buying. though in this case the price was
! not advanced any. In this stock 1t is
| said that the large interests may wish to
accumulate more stock before they allow
the price to advance far, 1t is announced
| on what seems to be the best authority
that dividend of ! per cent is to be de-
clared on this stock for the year at the
| meeting on October 26. The weekly gross
earnings statement of the company given
| out yesterday was an excellent one, show
| ing an increase of $50. 359. The increase
| since July was s656,657.
Missouri. Kansas and Texas gross earn
| !ngs for the second week of October in
| creased s55, 595. The increase for the ifs
cal year to date has been $1SS. 095. The
| earnings of the Missouri Pacific for the
week show an increase of $4,000. and
since January an increase of 81, 1884, 5S5.
The specialties that have been most
conspicuous in the market recently were
neglected yesterday, or rather were sold
in such heavy blocks that the bulls could
not succeed in advancing them. Their
changes in price were small, notwtth-
standing the fact that in some cases i'm
mense amounts Of stock changed hands.
Brooklyn Rapid Transit and the other
traction securities were among these
stocks. Brooklyn advanced a point or
more, but the others of the group only
held their own. On the whole, however,
the buying in the fractions seemed better
than the selling, and the street is in
clined to look with favor on them. The
idea that the Metropolitan crowd is buy
ing all Of them to secure control is held
by many well-informed people.
Union Pacific was one of the most ac
tive stocks on the list, and yet at the
close it was where 1t opened. Something
like $4,000 shares were traded in during
the day. Opinions differed as to the
meaning of this, but one theory was that
the Gates crowd sold early in the day
and then changed its mind and bought
back its stock again. In the last half
hour of the day the largest part Of these
transactions occurred. and they we're In
very heavy blocks, that showed at least
that the people engaged in the game were
not small.
Sugar stock was advanced during the
afternoon, after showing tendency to de-
cline in the morning. Its net gain was
small and unimportant, however. 1t is evil
dent that the people who make this stock
the most conspicuous in the market at
times are not yet ready for pyrotechnics.
The iron and steel securities were the
features OF the industrial group. Federal
Steel especially making a quick and i'm
portant advance during the afternoon on
what seemed TO be inside buying Of an ex-
cellent character. 1t has been the opinion
OF some OF the most conservative people
in the street that these securities might
be taken up shortly and advanced to
much higher level on their merits. Fed
eral Steel is especially in favor on account
of the fact that IT Will receive an entire
years dividends at the beginning of the
year. This stock opened at "a SIS and
closed at Sc 1-2 the top price for the day.
Steel and Wire common advanced a point
or more Tennessee Coal and Iron ad
vanced two points. and then declined to
the opening price.