Omaha daily bee., 1896-04-05
Resumption of Business Was Charnc-
terizel by Good Mnrket.

NEW YORK, April 4.-The resumption of bus
mess upon the Stock exchange after the holidays
was characterized by fairly active and ad-
vancing market. The foreign exchanges were
closed on account of Easter holidays and the
local dealers had the speculation entirely to
themselves. The distribution of business was
Indifferent. but important gains scored in
many instances. The industrials attracted the
most attention with Tobacco especially note
worthy for activity and erratic changes A
slight gain in the stock noted at the out
set, but under heavy offerings from the traders
the the prizes sagged @ per cent to S. rally
loss of y per cent Sugar gained "A point on
The improved outlook in the iron and steel
trade was reflected in gain Of per cent in
Tennessee &c Coal and under Tu, similar influences M
affected by, rumors Of an impending strike on the
dation. on the Stock exchange logic, Mani hattan
on the foregoing developments advanced 2A per
@ rafic. susauehanna & Western preferrid, ote broke
~ per cent; recovering all but u per cent Of
shareholders of lease to the Illinois Central
annual dividend of 2A per cent, The movement
in the grangers and other leading shares waB
confined to fraetionals. with gains general The
the day. Although the volume of business
light, partly owing to the practical double hol-
iday at the close, the speculation has not lacked
recalling to a considerable extent the turptude
of the wreckers of the old Colorado Company
This refers to the extraordinary performance
OF the managers of the American Tobacco COM
pany in contrasting within short thres months
the passage of the regular quarterly dividend OF
the common stock and the declaration on the
recent dividend date OF disbursement of the
common stock of per cent in cash and 20 per
cent in scrip. When the dividend passed
the step was considered to warrant investiga-
tion by the governing committee of the New York
Stock exchange, and 1t is more than probable the
recent totally unexpected liberality df the direc-
tors will call for a rigorous investigation by the
same body as to the strategy employed.
For long time past the manipulation of the
dicting character. For example. the trust had
had or had not purchased the plants of important
rivals; the price of its products had been raised
have closed and glowing and mysterious sugges-
tions foreshadowed the action taken in regard
Of 5 per cent to S51s occurred, At the low
range. the stock was freely purchased by brok-
shorts were compelled to cover up to SOY
h final ssle on Tassdsy the day the
IS was freely bid The initial price on Thurs
day at Of the soc last sass5 @ but an
to Ssh. Large blocks OF stock changed handp
The subsequent speculation was less important
and a net gain for the week of only u per cent
The general market movement was irregular
but a firm undertone prevailed. and stocks We're
time past, although the dealings We're strictly
professional in character. favorable develop
ment was tne nunenBdsenltnl OF gold Tor ship
ment, despite an advancing tendency in exchange
rates. The comparative ease OF the money
market. pending the April dsburs sments, reports
Of a freer movement OF the corn crop. and en-
couraglng railroad returns would ordinarily have
stimulated an inv stment demand for securities
development OF the first class was the agree
ment entered into by the steel manufacturers. u
restrict production, advance prices establish
rates and provide joint selling agency. London
not factor in the market and then local
spectators uninfuenced by foreign political
happening. The grangers In brisk demand
with Burlington and Rock Island in the lead.
The trade development noted above caused an
advance OF 9h per cent In Illinois Steel and
Tennessee Coal and Minnesota Iron improved
about per cent each The aggregate sales were
7s4 I'll shares. Bends relatively active for
half holiday. with the Northera Pacific issues