The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-19
It Went Up But Not
in Smoke.
TWENTY-SIX POINTS
The Extreme Rise From
Fridays Low Mark.

Yesterdays stock market was strong
and active. OF the So 72 shares that
traded hands, $4,000, or nearly one
fourth We're in American Tobacco. st.
Paul and G., B. & Q. contributed nearly
another quarter of the whole $4,000
shares between them. of which 10000
shares We're in the first named. There
was profit taking in c., B. & c.. but
prices, after a rs loss. rose TO another
high point, at 1891. receding to 1471a
at the close, a net rise of 90 for the
week
The market in American Tobacco was
phenomenal one The stock opened
weak on Friday and was sold down to
l32h, railying toward the close to 14O,
reactng and closing at 1889. Yester-
day the first sales We're made at al
The stock jumped to 145, then to 148
and fell to 147, 146, las and 144 in quick
succession, all sales at full figures and
none between. The market then began
to go up again, reaching 15S, reacting
points to 1873 and closing at 1856,
the extreme rise from low on
Friday TO high yesterday, figuring .2524
points. 1t was rumored that the stock
was completely cornered and there was
no knowing what might be done with
IT, Conservative houses absolutely re-
FUSED to take orders in it at all either
way.
The story HAS Been published, by
morning daily that the Worcester
stockholders of the Chicago and Alton
nave agreed to sell their holdings to
syndicate at 200 for preferred and IT'S
Tor the common. This may or may
not be true, most likely not. 1t is true
mat the common stock has been an s
per cerH dividend payer for along time;
put 1t is equally true that no one
knows how much of the stock is held
mere However, the owners will hard
~ be unWise enough to part with it for
me price offered by those who are now
ehdeavoring to bull the market; for it
~ Dull movement, nothing more or
less. Only yesterday the report was
sent out that the Chicago and Alton
zeal had gone through successfully, and
everybody in Wall street looked upon
II as bull point in n. p, u P. and
'''ii ne IlSnlS were quoted at 10
per cent premium.
After the serious reaction of the
week ending Feb. II, resulting in much
liquidation of long stock and the Gre
stlon of quite a material short interest,
the market, beginning with Monday,
took on better feeling and with few
exceptions, made almost steady i'm
provements. The gains in full figures
Al H.Fr
Sugar five points Tobacco, 20; Amer
lean Steel and Wire, COM, two; pre-
ferred, about steady; Atchisony pre-
ferred, two; Brooklyn Rapid Transit,
three Chicago, Cleveland Cincinnati
& ST. Louis, three; Canadian Pacific,
three; Central Pacific, four; Burling-
ton, IL; st. Paul, seven; Rock Island
FIVE; Northwest two Jersey Central,
three; st. Paul and Omaha, two; Fed
three; International Paper, three;
Long Island, seven; Metropolitan ST.
Railway, ~; Missouri Pacific, two;
New York Air Brake, II; New York
Central, three; Northern Pacific com,
four; preferred, about stationary; Pan
handle common, two; preferred, five;
Peoples Gas, four; Pennsylvania, four;
Reading preferred, three Southern Pa
ono, four; Southern Railway two and
a half; Tennessee Coal & Iron CO.,
three; Third Avenue, nine; Union Pa
enc common, three; preferred, TWO;
Wabash preferred, two.
The notable exceptions in a strong
market have been American Tin Plate
with a loss of three points; Console
GATED Gas, five; Great Northern pre-
terred, three; and National Biscuit,
three. 49, %,,
Manhattan was steady all the week,
with weakening tendency, owing TO
the Tammany agitation.
There seems to be so much money
seeking investment that every reaction
in the market is taken advantage Of TO
purchase dividend stocks to be laid
away for the income which they fur
nish. tee
The street has settled down to the
Burlington funding idea as sure to
come, and 1t is asserted that the bank
ers connected with the deal will require
a bond providing the gold clause, show
ing how completely the silver scare has
been eliminated. Rumor also talks of
a scrip dividend of 100 per cent; of New
York control of the stock; of heavy
buying by interests identified with a
bankers syndicate known to desire re-
funding-all rumor nothing but rumor,
out interesting. nevertheless.
III Boston III Is ADMITTED lnat n tunu-
ing plan may be forced on the road, and
that control might change otherwise,
but no plan Is under consideration by
the directors. and is.not likely to be, it
is asserted.
1t lie a singular fact that this Quincy
stock is the same that sold down to
5SH in the silver panic of 1896, and about
which Wall street was declaring that
1t was a second Atchison." So great
has been the improvement of the last
two years, resulting from the return
of confidence, the integrity of the gov
eminent finances and the great bene-
hts of our foreign trade, that to be
called q second Atchison" nowadays
is a compliment to any road, especially
when the Atchison is paying dividends
on It's preferred stock over and above
hxed and contingent interest ON bonds
But the c.. B. g. Q. did not earn the
efdssH.c 4Aln1lat Of afaa 500