Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 63, no. 1623: April 22, 1899

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April 22, 1S99 Record and Guide 7^Z ---tf* ^ _________^ BywpHSW.^ iBsa. Bl/SlWESSAtfD^EVCSOfGEllB^ ItfTCflpl. PRICe PER VEAR *H ADVANCE SIX DOLLARS Publtslied every Sat%rday Tblepbomb, Cobtlandt i:i7«. Communications should be addressed to C. W. SWEET, 14-10 Vesey Street. /. 1. LINDS EJ, Business Manager, "Entered at the Post-O.Sice at New Joj-fc, A. T., as second-class matter." Vol. LXIII. APRIL. 22, 1S99. No. 1.623. AN irregular but, on the whole, somewhat strong, stock mar¬ ket has heen seen this week. The irregularity is ex¬ plained by the lessening of speculative interest on the bull side aud the strength by the fact that a great many of the buyers in the recent advance have not yet caught on to the fact that the tendencies do not point their way, and ave still awaiting that further advance that is to carry them out with a profit. It is always the case that the close of a movement, either way, leaves a large party stranded, so to say, but obstinately ignorant of their true position. As time goes on and the movements of prices under the ordinary operations of the market bring enlightenment to them, they sell out or buy in, as the case may be, and so bring about those reactions for which the shrewd always wait to avail themselves. A grading down of prices is inevitable after such a big advance as the one we have just seen, no matter what the conditions may be. The last weekly government crop report was better than its predecessor, but local reports from some sections are in instances discouraging. Frora Kansas, for instance, this is particularly the case, and ought to prepare Wall Street for a reconsideration cf the values of the securities of railroads own¬ ing much mileage in that state. Kansas has, probably, been more disappointing to Eastern capital than any other state in the Union, because, while it is so very largely an agricultural state, it possesses a climate which is constantly reproducing alternating periods of plenty and famine. A poor year means something far worse in Kansas than it does in other agricultural states. In the southeastern section of the country the prospects ■appear to be much better than they are elsewhere, and an at¬ tempt is being made to advance the securities of the railroads developing that section, on the excellent earning statements re¬ ported and on the fact that these securities did not benefit by the late advance as much as others did. We called attention to the favorable position of these securities some time back, and it has improved since, but whether it is possible to put up their