The times., 1899-03-26
HEAVY TRADING IN
RAILWAY SHARES
Brooklyn Rapid Transit the
Attractive Feature.
The Stock Makes a Further Net
Gain of Nearly Five Points.
AtchisOn Preferred. New York Gen.
tral. and Union Pacific Issues
Strong and Active.

New York, March 25.-The trading in
stocks today was active and the tone OF
the market very strong. The distribution
of the trade was the best in a long time.
in spite of the fact that the Brooklyn
Rapid Transit supplied nearly one-fifth of
the total transactions. While good deal
of the buying was to cover shorts, there
was unmistakable evidence of a revival OF
public interest in securities listed in the
exchange. AS was the case yesterday, the
heaviest trading was in railway shares.
Still the industrials, notably Federal Steel
common. Peoples Gas, and Continental
Tobacco, were not entirely neglected. The
first two were exceptionally strong, but
Continental Tobacco as for some time past,
was heavy, presumably because of the pos
sibility that no new stock may be issued
TO acquire the plug tobacco manufacturing
that the American has secured by pur-
chasing the Union Tobacco Company, and
which it is known will be turned over to
the Continental company. The enthusiasm
of the friends of Brooklyn Rapid Transit
appears to be boundless. A further net
advance of four and half points today
followed the announcement that the Brook
lyn Rapid Transit Company has secured
practically all of the local transportation
facilities in Kings county. Other local
traction stocks were very strong. Other
strong features were Atchison preferred,
Chicago, Burlington and Quincy, New York
Central, Union Pacific issues, Southern
Railway preferred. and Chicago Great
Western.
The weekly statement of averages of the
associated banks made a much better
showing than had been expected, and 1t
was even better than the speculative COM
nearly three and a half millions of in
crease in loans result from the appear
ance in the statement this week of the
returns of the Astor Bank for the first
time. The remaining S2.000,000 is easily
accounted for by the activity in general
business, as reflected in the larger bank
clearances of the country for the week.
The most obviously favorable item in the
statement is the increase of 1898 900 in law
full money. This is the first time the banks
have shown gain in cash in many weeks.
The increase in liabilities to depositors is
not as large as 1t should be by about
$4,000, 900. The net result reduces the sur
plus reserve only $4,000. The statement
foreshadows comfortable money market
during the coming week. although two or
three industrial consolidation payments,
aggregating several million dollars each,
will be made during the next four business
days.
The trade reports for the week are again
full of encouragement, though it is TO be
noted that the severe weather has re-
stricted the distribution of merchandise in
some sections. The strongest evidence of
business prosperity is found in the stat
istics regarding the recent increase in
wages in nearly every industry throughout
the country. In the stock market the pub
lication of the bank statement was, fol-
lowed by an eager buying movement that
carried prices to the best figures of the
day and week, except for few issues,
which have been affected by specific causes