The Washington times., 1901-08-24


that the leaders wish to carry the ad-
vance further. and, IL possible, into an
important upward movement The rea-
sons why they should desire a boom are
not hard to find. They have the floating
supply of stocks almost entirely and they
have the big blocks. The public has lit
tie. They wish to sell out much of their
holdings and they do not wish to sell at
the present low prices, low compared with
those of two months ago, that is. In adj
dition. as pointed out in this column yes
terday, these same people are now work.
ing on some of the most important rail-
way deals in the history of finance, plans
which cannot be carried out except in
strong market. Apparently, they have
come to the conclusion tnat the general
situation is favorable to such a boom.
The strike is losing its terrors for the
street and for the public. The corn
crop damage has been far more
than discounted. Railway earnings are
immense and will continue so, at
all events, until autumn The money
market is easy and il has just become
apparent that there will be no exports of
gold to London and very likely may be
imports from that centre and other parts
of Europe Nothing Is certain in the
stock ma 'ket, and ii is not certain that
the pre- sent movement will assume large
proportions. but many careful people are
beginning to believe that at least the in
siders hope for just this. A few days
more of such advances as those of yes
terday and the earlier days of the week
the market handsomely.
1t must not be expected. however. that
even If this programme is to be carried
out, there Will be no declines. The bears
will not give up without struggle from
zine to time. and there will be realizing
of Importance also as the level gets into
new territory II is not impossible that
such decline may come today or Mon
day. The bank statement is likely to be
poor one, as there have been heavy
transfers Of funds to Philadelphia in con-
nection with the Cambria Steel deal and
the municipal loan. and 1t is not iInproba
BILE that the loan account may show an
increase in connection with the new spec
ulative interest in the market. On the
whole. however, IL would seem the more
likely plan on the part of the market
leaders to keep the boom in full swing
today so that advantage may be taken
of the big public buying that undoubtedly
would be the result on Monday morning.
The advance has not yet gone so far that
careful purchases on reactions should not
prove profitable during the coming
months. and many of the conservative
commission houses yesterday advised such
purchases.
The Could securities were perhaps the
most interesting features of the list yes
terday. Missouri Pacific went up to
1065s and closed at the top level with an
important net gain. Wabash preferred
was also especially strong on important
DusinS. ana mace q SOOu gam, CLOSING at
81. Missouri, Kansas and Texas went up
to 81 and closed at the top. and Texas ana
Pacific went above a and stayed there
The rumors Of some Developments at last
in the long delayed Greater Missouri Pa
cific deal were numerous, and there was
also much talk Of a Wabash deal of some
kind. 1t is sugge Sted, and with good rea-
son, that while these and the numerous
other rumors that have sprung up so sud-
denly may not have any important foun-
Gation in fact, as far as immediate de-
velopments are concerned, they show at
market to advance. For there can be no
doubt that many Of these stories are set
afoat by inside interests.
The Goulds' name was again heard In
connection with the buying Of Norfolk
The story that the Goulds have purchased
"a controlling interest in the property,
with or without the consent of the Penn
sylvania people, is repeated, despite de-
malls and despite its inherent improba-
bility That the Goulds have been buying
the stock there can be little doubt. how
ever. and conservative people are inclined
to the idea that they are doing so with
the knowledge and good will of the inter-
est now IA control in the further carrying
out of the community of interest plan. II
this theory Is the correct one II would not
surprise those who advance it to learn
that a somewhat similar plan will solve
the PennSylvania-Gould Wabash difficult
ties.
Baltimore and Ohio was again a favor
lite. getting up to l05 and closing at l0iA
of stock The story that there will be
rights in connection with the purchase
of the Pittsburs and Western and other
properties was well received. The talk