The Washington times., 1894-04-01
FAVOR YANKEE SECURITIES
London Echoes the Pronounced Bull
Movement in the American Lists.
ADVANCES OF THE LAST WEEK
Wall Street Chose to Interpret the seignior-
age Veto as Favorable Sign Yesterdays
Rally in the Grangers and the Industrials.
Chicago Gas Prospects.

New YORK, March 31.-The share specula-
ton was unusually active for Saturday, and
with the exception of a brief period around
tional reaction, the tendency. of the market
was in the direction of higher prices, the
market closing strong at an advance on the
final figures OF yesterday, ranging from a to
IL per cent. in the active list and extending
to per cent. in the specialties.
There was the customary covering of shorts
over Sunday by the room traders, and their
purchases were supplemented by very good
buying for London account in st. Paul,
Atchison and Louisville and Nashville. This
foreign was large factor on the strength OF
the market, not SO much by the greatness Of
its volume as that it echoed the bull move
ment in American securities OH the London
stock exchange.
The fact that the market had been largely
oversold was recognized by the short inter-
est. and as the morning waned they grew
anxious. and in the late dealings rushed to
cover, which accounts for the buoyant tone
of the market in the closing transactions.
Reports Of mi.der weather in the West
strengthened the trading in the Changers, the
buying in which was also increased by the
announcement that the extent of the damage
to crops had been overestimated. st. Paul
led in the dealings. and made the greatest
advance in these shares namely, q per cent.
A Chicago rumor that a compromise had been
made with the Hyde Park Gas Company by
which it had agreed not to extend its mains
into that city had the effect of advancing the
stock q per cent. but, little credence being
placed in the story, a reaction OF Is took
place. followed in the closing dealings by q
recovery OF y per cent.
The principle advances of the day are Cord
age preferred, 3per cent, Duluth, South Shore
and Atlantic, 25s; Manhattan, 2k; Iowa Cen
tral preferred and New York. Chicago and st.
Louis first preferred. 2; Denver and Rio
Grande preferred, 12I; Louisville and Nash
vile, y. and American Tobacco preferred
and Great Northern preferred l per cent.
Louisville and New Albany preferred broke
IL. to 3l5s, but rallied 1z. Sugar lost 5e on
sales OF long stock. Distiling stands even on
the day, while General Electric lost small
fraction. The advance in Nickle Plate first
preferred was due TO buying, said to be for
the Vanderbilt party.
The trend of the stock market during the
week has been upward. the favorable infiu-
ences of the speculation being the veto of the
seigniorage bill both in anticipation and as
accomplished fact. and reports of a general i'm
provement in the trade of the country which
nave Dseu IuOEt tiisiu III tiiHc
since the period OF ofextreme depression passed
away.
The advance on the week of 2 per cent.
and over are rs follows:
ST. Paul and Duluth preferred, Il Consoli-
dated Gas and Lead preferred, each So; do.
common, 2js; American Cotton Oil, AZ; do.
common. 2; Union Pacific and American To-
bacco, each As; do. preferred, 80; Norfolk
and Western preferred and Denver and Rio
Grande preferred. each 81; Minnesota and
st. Louis preferred. 3: st. Paul. Louisville
and Nashville and Central Pacific, each 2sl;
Duluth South Shore and Atlantic preferred,
25z; Iowa Central preferred and Oregon In
provement. each 2ll; Manhattan and North
ern Pacific preferred. each 29z; Rubber pre-
ferred. as; Lake Erie and Western preferred
and New York. Chicago and st. Louis first
preferred. each per cent. Declines-Flint
and Pere Marquette preferred, 10, and Long
Island, AZ.