Omaha daily bee., 1896-03-08
Feature of Saturdays security Mar
ket MnA Marked Activity.

~ ~.
ket Was Marked Activity.
NEw YORK. March 1.-THE feature Of today's
stock market was marked activity. attended by
pronounced weakness in Tobacco. The opera
lions in that stock amounted to SO. 100 shares
out OF an aggregate for the day of 1l6, 900 shares.
Liquidation by insiders was noted, and the pro-
fessionai traders were active. depressing the stock
to IT'S. In the late speculation a recovery of 2
The old argument against Tobacco Is still APP
plicable, namely, tae persistent policy of the
outside manufacturers. 1t is stated that the re-
cent rumor of a probable impending issue of about
fact. now alleged, that certain insiders who took
scrip in return fr advances made by them will
now be paid In the manner suggested. American
Cotton oil stocks attracted attention by rumors
OF unsatisfactory trade conditions, which, it was
little early to discuss the preferred dividend, as
1t is not due until next June. A director of the
ciated press that for the first five months of
the fiscal year. up to February 1, the earnings
the requirements for interest on the debenture
preferred stock for the five months, and that the
outlook was for Improvement in the company's
business. The preferred rallied 8 per cent,
from General Electric, which advanced IL per
cent on manipulation by a new pool in the stock.
Fractional concessions occurred in a number of
instances In sympathy with the depression in To-
bacco, but in the last a general upward move
final figures. The closing was duh and firm.
The speculation OF the week has again been
influenced to "A large extent by outside considera-
tions, notably the political unrest abroad and
the Cuban belligerency resolutions. Except in
one or twu instances. the bulk of the operations
has been conducted by the professional traders
in the industrial shares, The arguments en-
are practically unchanged.
Tobacco early displayed strength on covering
by shorts. and gained "a per cent TO so. Early
reports OF an impending issue of preferred stock
and OF aggressive action by the opposition TO
the trust caused heavy selling. a considerable
proportion of the orders coming aDDarpntlv from
the inside. A decline to lln resulted. with a
final recovery to 1875, United States Rubber
shares were unfavorably affected by selling in
connection with the retirement Of the president
and OF powerful interests in the directory. The
common stock sold on 5 per cent 70 21s, and the
was supported at the lower range and improved
TO Sia at the close.
In the railroad list the most important develop
ment was the elimination Of the financial EN-
barn assment OF the Baltimore x Ohio railroad
In the appointment OF receivers for the property.
For a long time previously experienced railroad
men and financial experts had expected such a
has undertaken the work of rehabilitation, and, Il
Is understood, enjoys the cooperation OF impor-
tan. foreign interests in the property. The best
nformation Is that the company has a floating
debt Of between si2, 900 900 and SIS. 900. 900, and that
about s2o.O0o,OOo win be needed to place the COM
The stock, as a result Of the developments
noted, sold down to the lowest point ever re-
corded for II, Is, and the net loss for the week
Is T% per cent. The eonsols 5s of 1855 dropped
IA points to sils, and the 5s OF 1929. ss per cent
TO soy. the latter subsequently, rallying to SO.
The depression was accelerated by the assump-
tions of heroic treatment in the impending reor-
ganization. The reports of railroad earnings have
been favorable in most eases. Money. both on
call and time. has been easy. and Indications
point TO a broader market for mercantile paper.
The impression prevails in well informed imam
cial circles that the bankruptcy OF the baltimore
a Ohio marks the end Of a long list Of railway
receiverships. further progress toward straight
enlng out embarrassed systems is noted In the
publication OF plans OF reorganization of The
Oregon shor. Line aud Utah Northern aud Mem