The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-08
) and Bears
Clashed.
TRADING LIMITED.
Money Rates Firm and Steel
Still Strong.

The stock market opened weak yes
terady. and it was fight between the
bulls and bears from opening to close.
There were no features Trading W as
limited and prices We're inclined to sag.
c.. B. & G. was the favorite if any
thing. 1t opened at 1874, reached 1895
for high figure, and closed within one
eighth of that point, one and one-half
point up from Monday.
There was fair buying Of Reading
preferred and of LackaWanna. and the
bulls kept hard at the coalers in the
hope that it would bring the market
round. But there was very little OF
pronounced interest in the days deal
ings and, although there was a good
rally at MONDAY, the market closed
with but very little or no improvement
over Mondays showing.
Money rates are still firm. In Boston
clearing house balances between the
banks loaned at 21&Q3 per cent, ana
New York funds sold at 20 cents pei
$1,000 discount. The exchanges were
$24, 165, $50 against S2447S,1S4 year ago
today. an increase of 1863 ,l66, or Is
per cent, and the balances were g, 22I,
232. In New York the exchanges were
$3.50, 271, AS against $3.50 264 995 a year
ago an increase of $4,000, 4S1. or g
percent, and the balances were S15, $50,
195
The Steel market stills holds strong
American Steel common opened at the
closing figure of Monday, CPS clam
bered q above that point and closed The
day there. Preferred jumped three
fourths from 103 at the opening. Both
these stocks are being bought for per-
manent investment by the knowing
ones and laid away.
Federal common closed at 513t, a rise
of a point and a quarter from the open
ing. Preferred opened at S71a, fell to
81 jumped TO S734, and closed there
The latter stock ought TO be one of the
safest investments in the market II
has just declared a dividend, and II
was intimated at the same time that
s per cent. was being earned on the
common. Gov. Flower is quoted as say
ing that only one of its constituent
companies failed to earn 6 per cent. on
its capital previous TO consolidation.
Investors should bear in mind, how
ever. that the capitalization of the Fed
eraI Steel is double the aggregate OF
that of its component parts. But the
trust is practically master in its own
field, and will probably continue to earn
good dividends while the boom in the
steel and iron business continues, and
that promises to continue for long
time yet
Sugar, which is being watched very
closely just now. opened at 1885 and
reached its highest point at 1897, clos
ing p below.
St. Paul started at 1869. the figures
al which it closed on Monday. and
climbed up to 1271a. There was little
or nothing doing in Manhattan. 1t is
stiu swinging around 10
General heaviness prevailed in the
copper stocks. Montana was 10 lower
at $50, with rally of 5: Baltic lost 21a
to 271a (seIler 60) Atlantic was / lower
at So; Arcadian . lower, at IS; Adven,
ture off y, at 141a; Butte off 3la, al
SSla; Centennial up rs. at 52ss, reced,
ing to ga; Cochiti gold off g. at 9lh-
Franklin Il lower, at 241s; Mohawk of
2. at 70; Gold Dredging. ia lower, al
36M; Old Colony off q. at ia; Osceola
fell 3, to IS; Parrot touched 44l2 losing
j. Quincy was lower, at 1856. Rhode
Island fell !, TO 1872; Santa Fe /, to 161s,
Utah q, 1915 Winona ~. TO IS.
Following We're the closing prices OF
the Boston exchange yesterday Of