The Anaconda standard., 1898-02-06
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Proceedings.
NEW YORK STOCK REPORT
Digest of Exchange News-Mning Sto cks,
Metal Quotations-Wool Prices and
Movements Grain and Pro-
duce-Review of Trade

New York, Feb 5.-To-day's stock mar
ket was lifted to higher level by the
conspicuous strength of comparatively
few stocks. 1t was noteworthy that the
Vanderbilts which gave the initial i'm
petus to this advance, showed the effects
to-day of profit-taking, Lake Shore losing
two points and New York Central small
fraction. Michigan Central, after bound
ing upward at the opening, reacted over
a point. but closed with substantial
gain. The far-reaching Importance of the
merging of New York Central and Lake
Shore and additional plans continued to
have a marked sentimental effect all
along the line. Possibilities in the way of
reduced expenditure for administration
and of stability of rates for traffic from
consolidation are canvassed with eager
attention by dealers in securities.
Great Northern preferred sold al a
further decline of two points and was
bid down still further. the various reports
of plans for increased capitalization and
distribution of the companys accnmu-
lated resources being so conflicting as TO
lead to the conviction that no plan has
yet been formed.
Although business was on a large scale
and widely distributed, the fluctuations
in prices were exceedingly narrow out
side of the special cases, the most impor-
tant of which have been indicated.
At different times during the week the
market had been under the influence of
aggressive strength in Chesapeake &
Ohio Baltimore & Ohio, Louisville Penn
syvania, Northern Pacific preferred. the
coalers, Union Pacific and other conspc-
uous stocks. Wide advances have occur
red in some of the high-priced closely held
investment stocks, notably Great North
ern preferred which advanced AN extreme
of 27 points. but reacted four points.
The weeks heavy taking sales
have been well absorbed and the outside
participa ton in the market has grown.
Many stocks have been at times above
last weeks closing level, and some stocks
below. but the general level of the mar
ket is higher, principally as the result of
yesterday and to-day. Gains generally
range between two and three points.
with exceptions in active stocks, up to
six points
The bond market has continued to show
the great activity and strength which it
did in January. The total par value of
sales in January was nearly S93. 900, 900.
The total was never exceeded on the eN-
change. except in October, 1885. when the
sales exceeded $40 600, 600. In view of the
present Importance attached TO the New
York Central-Lake Shore consolidation. ii
is considered significant that the previous
period of great activity was at the time
of the West Shore settlement.
Kansas Pacific consols showed an eX-
treme advance for the week of 12is points
and other Kansas Pacific and Union Pa
ciic issues showed large advances. Prices
all around are markedly higher. Total
sales, So. 800, 900.
L. S. new As registered advanced q
l.. s. new As coupon. eX-interest, y; the
old As registered and the IS registered,
"a. ana the old As coupon and the IS cou-
pom, cX-intercst, Is bid.