The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-28
In Bell Telephone
Stock.
NATIONAL STEEL
Said to Be Ready to Unite
With Other Trusts.

The stock market opened fairly
ssrong yesterday, although it was fol-
lowed by irregular fluctuations and a
recovery at the close.
American Steel & Wire common
gained 81 points, opening at 61l5 and
climbing to e424. 1t closed at Ssh.
Preferred opened at 9s94. jumped to 1ol
and closed at 10O5s. Federal rose y.
Encouraging trade advices, coupled
with rumors of pool operations, caused
heavy buying Of the iron and steel
shares.
Brooklyn Rapid Transit made no
ticeable jump from 937s at the opening
TO a6Iz, closing at 9415.
Sugar was erratic. opening at 141,
climbing to 142% and closing at 1895.
There was a rise in Chicago, Burling-
Ton and Quincy from 49, to 467s, al
though it receded to 146 at the close.
Tobacco opened at 1877 sold down TO
1929 and closed at 1S5.
Manhattan started at 10, rose to
114i2 and closed at 113.
There was little or no change in the
railroad list either way. Speculative
interest was centered in the special
ties, and those properties exhibited
buoyancy on large transactions.
The general market moved along in
sympathy and the standard stocks.
particularly the grangers, became quite
buoyant
Bell Telephone fell % points to 335.
against highest on this years rise of
S7s, also a high record. Bell began the
year at 27S rising sos per share in six
weeks; 1t sold at 23S II months ago;
as low as 1853 exactly five years ago
yesterday and at rs in 1880 In 1888
it got up to 299; last years highest was
2S5, in August 1t rallied u yesterday
10 34f, or a net loss of IL at p. m. for
the day.
Calumet and Hecla fell from 785 TO
100, equivalent TO 500, when allowance
is made for the $40 extra dividend
which the stock now sells and also the
record price made last Tuesday. The
stock began the year at CAS- rising $3.50
per share, or SIS, 600 900 in market
value, in the first seven weeks of the
year. Back in 1884 it touched 124 rising
10 S24 in 1888; it fell TO 240 in August,
1891: began 1898 at 4S9 and kept on to
S95 Feb y, 1899, whence the present
reaction dates. Il rallied to S775 before
closing.
In mining stocks in the Boston mar
ket Montana gained 3 to sos, thence
losing to S5S; Arcadian rose 21a to 7S1g /:
4 ]
&c. Old Dominion rs to 80; Isle Royale
rose to 6S3z; Franklin fell to %,
rallying to %; Tamarack was IN
changed, at 235; Parrot fell G, to "A:
rallying TO 40; Santa Fe was off pa
TO 1874, steadying at is in the after
noon; Gold Dredging lost 3l2, to So;
Baltic 2lh. to 80: Centennial gained -
to Big; Rhode Island held at 10; Ad-
venture lost PA. to 1514; Winona !, to
Is; Old Colony held at 1912; Wolverine
y. to 46&.
Copper was one or more lower in
London and there are those who think
something OF "A scoop is in progress
a soaring out Of weak holders in some
mines. Doubtless some of the mines
of prominence on the list and on the
curb have been oVer-boomed on the
idea Of the copper combine" and il
does no harm TO have them sell ex-
mystery,
The National Steel Company. incor-
porated at Trenton, n. j., early in the
present month, with capital of 500.
600, has Just filed new certificate OF
incorporation, with capital stock OF
S5e000000 OF this increased capital
ization, $4,000, 900 is ! per cent pre-
ferred stock. and $50 900 common
This charter is said to be one of the
most elaborate ever fled and is suf-
hcienuy broad to allow almost any sort
OF consolidation. 1t has naturally re-
Nived the story in circulation when the
first Incorporation papers were filed
that this concern is to absorb all the
great steel interests of the country.
OF course, officials of the different
companies deny all reports, but gossip
has 1t that steel and wire will be taken
over at par for common and 175 for
preferred, while the Federal Steel fig
ures will be somewhat different. Pay
ment it Is said, will be made on the
basis of IS per cent in new preferred
stock, and rs per cent in new common.
which win be underwritten at rs and
20, respectively.
If reports are true, the National Steel
Company will combine all the steel and
allied interests of the country, includ.
ing not only the companies named
above. but the American Tin Plate. the
National Tin Plate and Stamped Ware
Company, the proposed bridge trust
and the Pressed Steel Car Company.
The power behind the great plan is
said TO be Mr. Carnegie, who repre-
sents interests twice as extensive as
those Of the Federal Steel Company. II
is further stated that the new COM
pany is already completely financed
Whether or not this market gossip
be true, certain il is that the street is
enthusiastically bulish on American
Steel and Wire and lively music is
promised in it in any event. Interests
connected with the property say that
rhe company has already earned the
fun seven per cent dividend on the pre-
ferred stock for the year, which leaves