Worcester morning daily spy., 1898-02-01
A BROAD MARKET,
Trading in Wall Street Marked
By Great Activity.
Speculative Favorites Gave Way to Other
Stocks That Were Pushed Aggres-
sively-Bonds Higher and
Sales Strong.

New York, Jan. S1.-Today's stock
market was more active and broader
than at any time since the present up
ward movement began, but it was ex-
ceedingly uneven and some prominent
stocks in the list show net declines. The
market ignored the heaviness of the
market In the speculative favorites, and
other stocks were taken up and pushed
aggressively. There was very obvious
realizing in New York Central, Lake
Shore, and Sugar.
The leaders of today's advance were
Chesapeake and Ohio, Cleveland, G. c.
and st. Louis, Louisville Pennsylvania
and Northern Pacific preferred. The first
two-named were affected by the pub
lished rumors that an amalgamation
was in prospect similar to that pro-
jected from New York Central and Lake
Shore There was quite large demand
reported for Chesapeake and Ohio for
London account, which was attributed
to the presence in London Of a promi-
nent authority in that company. Other
properties which are largely under a
similar control shared to a less extent
in the strength. Northern Pacific pre-
ferred continued its remarkable ad-
vance and touched So during the day.
Confident assertions that an additional
dividend was imminent accompanies the
advance. Louisville continued to enjoy
the advantage of the reports of the re-
funding plan nearing completion. The
strength of Pennsylvania was said to
be due to the operations of pool which
are based on the assumption that the
stock has not enjoyed rise commensu-
rate with that of other trunk lines which
are no better situated.
Strength in number of lndustr1al
specialties, notable Tobacco and Leather
preferred, and the advances of some OF
the high-priced investment stocks, and
the strength of the coalers, due to the
prevalent cold weather, helped to SuS-
tain the market The continued absorp-
ton of railroad bonds was an additional
factor. The tone of the Changers was
heavy all day, with the exception or
Burlington, which rose at one time over
a point, and of Northwest and Omaha,
which moved in sympathy with the Van
derbilts. There were several halts during
the day due to taking of quick profits,
and the trading closed with very gen
eral movement to that end, which en-
braced all the strongest and most active
stocks, cutting down their extreme gains
in all cases. Sugar lost nearly all of its
early advance. London was both Duyef
and seller in this market, and Union
Pacific and st. Paul felt the adverse eff
feet of this selling. Commission houses
bought on a large scale.
Business in the bond market was on
r. very large scale. Kansas Pacific con-
soils, the Union Pacific and Atchison is
sues. and the Texas and Pacific seconds
were ian special demand. Prices are
higher all around. Total sales $6340,00O
The u. S. new As advanced Is bid, and
the SIS coupon B.
New York. Jan. 31.-Money on call
1A02: last loan ~ per cent. Prime mer-
camille paper, 2@4 per cent. Sterling
exchange steady, with actual business
in bankers bills at 4.S49s for demand
and 4S21z for 60 days. Posted rates
hills 4.81b@4S2. Bar silver, 561s. Mexi-
can dollars, 45A. Government bonds
strong, state bonds dull, railroad bonds
strong.