The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-02-05
11NANo11t 1xD COMMERCIAL.
SATURDAY. Feb. 4.

The market for securities has been 30 broad
and active this week. and also so strong In
many sections. that Its reactionary tend
oncy from tho extraordinary dealings and
prices OF last week has perhaps not
been fully appreciated. The statistics OF
the market for the last i've days and a hall
abov plainly enough that more temperate
views are being entertained BY both spccula-
tors and investors. and that the first named
have been intent on profit taking. The
dealings IN stocks have been moro than
o.25o.o00 shares smaller than last week. and
there has been q falling OF In the transactions
in bonds OF more than $9.250.00 o par value.
At the same time It IL interesting to
note that tho distribution OF business was
tho largest In any week In the his
tory OF the Stock Exchange, the number OF
stocks and bonds dealt in being exactly 500.
Prices are In the main lower than they were
last Saturday night: still. no very important
declinea are recorded. Both In respect to
activity and prices the reaction has not
exceeded limits that might naturally be ex-
pectsd after tho unprecedented market OF last
week. Quite a number OF stocks have
reached higher prices. but nearly all OF
them are speoialties which have been infu-
enced by specific considerations which have
not as yet been made public. Conspicuous
among them are Consolidated Gas, Metro
DOILH0 DLI6 INhilNuI hNS -
ferred. Texas Pacific. Central Pacific. Rio
Grands and Western preferred. and Brooklyn
Union Gas.
To-day's market was strong during the first
hour and a half Of business. TIL sharp recov-
cry in prices yesterday afternoon brought In
n good many buying orders, tho execution
OF which. together with further purchases
BIZ larger interests. alarmed professional
dealers who were short of stocks to an extent
=. - - - 800 hA pyArn "
ceptionally sharp advances in New YORK
Central, metropolitan Street Railway. Great
Northern preferred. Consolidated Gas. Third
Avenue Railroad. which was unusually
active, Pennsylvania Railroad and Pan
handle" that Influenced the entire specula-
ton. The improvement in these stocks was
supplemented by material gains In Canada
Southern, Chicago Great Western issues.
Cleveland. Lorain and Wheeling. international
Silver. Mobile and Ohio and st. Louis South
western preferred. Tho rise in prices 'nfade
the speculative community feel more conndent
regarding the ratification Of the peace treaty
on Monday. Until the publication OF the bank
statement, half an hour before the close OF
business, all indications were OF a strong. pos
nibly a buoyapt. closing.
The bank statement was a disappointment
because OF the unexpected largo increase OF
over $4,000, 900 in the loans. Since the first
OF the year the loans have increased each week,
but the increase has not been equal TO the
increase in lawful money. The increase In
that item shown by the bank statement
fulfilled general expectations. being S2.Sl6.-
900. The Street was not prepared. however.
for All expansion in the loans Of five or
six times that amount. The increase OF
nearly $~1S,4O0.000 in the deposits re-
oulred not only all of the new money
received as reserve, but has taken more
than tx millions from the surplus. Tho to-
tai reserve of the banks against their aggre-
gate deposit liabilities is now a little In ex-
cess. OF. 20 y cent. The publication OF
the bank statement was followed by a
selling movement under which the greater
part, of the early Improvement in prices disap-
peared and net declines Of a point or more
were. recorded for Rock Island. Federal Steel
common, Manhattan Railway, Reading issues
and Lake Erie and Western preferred. Tho
last named was adversely affected by the pass
ing o ithe dividend.
The increase in bank accommodations this
week Is doubtless due in great part to the ac-
commodations obtained in connection with the
floating OF new industrial enterprises. Loans
on securities have also been increased Incl
dental to the arrival OF large amounts of Sc
~curities recently sold in this market by foreign
holders.
AS compared with the final prices OF last Sat-
urday, the majority Of stocks are lower. The
more important net declines are in Rock
Island. Manhattan Railway and Tennes-
sec Coal and Iron. 3a y cent. each;
Federal Steel. Peoples Gas and Reading
first preferred. 3 each; Burlington and
Quincy. 2iG; Pacific Mail. 2h: Pennsylvania
Railroad. 2h: American Sugar Refining. 2H;
Missouri Pacific, TX; Reading second pre-
ferred, IL American Tobacco. st. Paul. Louis
vile and Nashville and U. s. Rubber. III each;
Atchison preferred. *: Union Pacific pre-
ferred. u; Brooklyn Rapid Transit and Chicago
Great Western, \ each. and Northern Pacific.
y a cent. The noteworthy advances are in
Great Northern preferred. 10 = cent: Metro
politan Street Railway. a; Consolidated Gas.
Denver and Rio Grando preferred, *: Cleve-
land. Cincinnati. Chicago and, St. Louis, ~;
Southern nd lHsSbiiI H ggrS esnf Ia and ohesa-
New York stock Exchange-Sale Feb. 4.
UNITED STATES AND STATE BONDS I'm Sl.000s).
Q Us Sc. ser B.. ! O6Hi o q 8 +s,c, loo7.l1 ID
so U S a. r. l9o7.ll2h
CLOSING PRICES OF UNITED STATES BONDS.
Bid. A'k,dl Bid. Asked.
Tn st2s r. On at 4s.r
atplotG 90 - n25...l2sH 129K
U 8 IS, 1908 I'm st As. o.
1919. r.,.lo7 lO7h 1925 .....l2sH l2e
Y SIS. 1903 On st 6. r.
1915. c...lO7 1913 o o4.....lll% ll2H
Tn St 4s,r, IN st IS. c.
1907 .....ll2 ll2h' lpo4....lll1 ll2K
Tn st 4s, c, I'm st Boss. T.
1907 ....lI21 ll3hl 1924. DCll7H -
RAILROAD AND OTHER BONDS Us S1.0O0s>.
q Ateh gnl 4s.r. S3Ail o Mob & o gnl... 97x
l........... S31lI 2 No Pac en-. .....l l44
ia ktcn adj As. S3h 4 ...""."."..ll4N
1..........., S3sBl a ...,"".....ll4
'2..,........ S3MI 5 Mo P col LIST IS 02k
g ........".., 80 5 ....""".".. 92
rs .............. s3IlloN p Gnl sS..,, GAS
ID .......,,"" S3#I 10 ."."..".".. esH
ga Atch gnl As .lO1FI26 4 W cn a.. 92H
"a .......,..lOlialO ."..",."."., 92H
-,. ~ " O. 49,