The evening times., 1901-06-05

The Stock Market this morning was
characterized by extreme irTesularity. 4
few securities advanced fairly well and
others declined sharply at the opening
st Paul Rock Island, Union Pacific,
Southern Pacific, ana the Eries- among
the railway, and Sugar in the Industrial
list were ali inclined 10 weakness The
Atchison securities were especially strong
Il is Impossible to form any opinion worth
much regarding the future Of such a mar
ket. The pressure 10 take profits was
again in evidence this morning. and espe-
ciaIly in the securities that have been
buoyant up TO this time At th= same
time there was undoubtedly excellent
buying for large interests The public is
inclined TO buIIishness and is buying stock
much more freely than might have been
expected after The sIump Of month ago.
This IS one Of the bull arguments for the
moment, though when the public is buy
iEE freely careful people usually have
their suspicion that it viii lot be long be
fore a reaction comes On the other hand
the coming Of summer viii induce much
selling Of stocks without doubt. Perhaps
the best advice at present is TO sell
stocks on the sharp bulges and not to buy
except on important reactions
London was a seller Of the American
securities for the most part, the Denver
and Rio Grande stocks being an excep-
ton. There is talk Of extensive gold ship
ments to the other side in the near fll-
Ture- News this morning was not impor-
tant in any way. and the rumors while
as numerous as usual were devoid Of
much interest It was said that the Lon
don buying Of the Rio Grande securities.
and the later strength Of the stocks on
eli DO wa a. h. L-fl Of -
most satisfactory outlook for the Rio
Grande IN the Greater Missouri Pacific
plan. The rUmor is that Missouri Pacific
stock VIII be exchanged for Rio Grande
securities in the deal, on basis most
fiattering TO the latter. The earnings Of
the Rio Grande for the fourth week of
May show an increase Of $3.50
The Atchisou securities were the feature
Of the early market The common sold
early in the day above 80 and the prefer
red above 145. The movement seems 10
be a mauipUlative one, and as far as the
common stock IS concerned careful peo-
PIE consider it UHwarranted by facts The
suppOsitiOn that the Pennsylvania is 10
acquire or has acquired control Of the
Atchison IS perhaps wen founded despite
the many deEials thar haEe been made.
But even # the Atchison is 70 become a
Pennsylvania annex this is not very
good reason for advancing its common
stock to 50. The PENNSYLVANIA Railroad
Company has q reputation for acting
most conSeryatively regarding dividends
and there Is no reason 10 suppose that il
viii act any more generously with the
AtchIsOn than il has with other lines
One Of the New York financial authorf-
ties this morning has an article on Illinois
Central that points out many Of the ex-
celleHt matters with regard 10 the stock
that have been discussed il this column
from tine TO time Comparing the iii
nols Central with the ST Paul and the
Northwest it wiz be found that as far as
earnings, and dividends are concerned
ever a period Of many years the Illinois
Central makes much the best record.
There is ia reality no good reason why