The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-09
Market Shows a Bet
ter Tendency.
COPPER STEADY.
Formation OF New Casket
Combine.

There was a good rise in the market
yesterday after the 3 per cent Sugar
dividend had been announced. The
Sugar stock jumped nearly three points
from the opening of 80 Ia and closed
the day at AZ
The early part of the day was quite
dun, although steady tone prevailed.
The Steels We're steady with no mate
rial movement. American common
opened at 631s, climbed two-eighths
and closed at 6314. Preferred began at
1885, rose to 104Is and closed II below
the high point.
There was little or no change in Fed
erals Common reached t52H from 51st
at the opening. and closed the day at
%, Preferred began the day at IS and
closed the day at $50, high point for
the day
After monday, when the news of the
Sugar dividend had become known. all
the stocks began to move up, particu-
larly the coalers. Jersey Central
Jumped from Ill to 113, Delaware &,
LackaWanna rose a point and a half,
and Delaware & Hudson reached 11Sst.
Reading LIST preferred led with an adj
vance from CO.'S at the opening to 671a
al the close.
Erie LIST preferred opened at 3O5s and
jumped to 401s, closing Is below.
Brooklyn Rapid Transit surprised ev-
erybody by bobbing to "a from 92Is
a the start. International Paper broke
from 5ISs to 5212 and closed at 54%.
The Changers We're about steady.
opening from one-half to one point
over Tuesdays close. They saeged
during the first few hours, rallying and
closing. at the opening figures of the
morning, with the exception of St
Paul, which closed one point over
tuesdays last quotations and X over
the opening.
Dominion coal was one of the leaders
in the trading at this end of the line
yesterday. 1t made another jump of
~ to 43 with % recession on continued
broad and steady buying, preferred
holding at 100
In the Coppers Utah Consolidated led
the way, selling up to 691a 1t is as
serted that the Standard Oil people
have purchased $4,000 shares of Utah
stock at the option price of 500 per
share, and $1,000 additional shares at
40. This. with the $4,000 shares pre-
Niousy purchased at $24 per share, ag-
gregate $4,000 shares out of the total
issue outstanding Of 100000 shares or a
controlling interest.
AS regards Isle Royale it is rumored
That. II is to be consolidated with the
Miners. The latter shares are quoted
,4612@49. On the strength of this re-
port it advanced eight to 10 yesterday.
Arcadian was up 4,at SO: OsceoIa ~, at
9O12; Centennial ., at 531a; Santa Fe
IA, at 17l4; Atlantic >. at 36: Wolverine
Is, Al 1865 Winona e. at 10; and Par
rot y, AT 44l2. Adventure improved l.
TO 10; Mohawk l, TO 50; Baltic IL, to
2912
In the outside market prices were
frmer; Trimountain 1315ml41a; Copper
Range offered at so; Victoria SOTO: Mi
chigan lIdl7l2; Wyandot' 9AG1OA ;
Bingham 1904; Boston Consolidated 10
bid: Fortuna $140; Melones 5@%; New
England Gas & Coke 1884; Miners 40
q50
Messrs, Dillaway & STAIRS compila-
ton shows that in February Boston
traded in 40,S94 shares of Arcadian, 49,
$40 Arnold, 1884 Atlantic q JAP Baltic,
1885 Montana, SO9l Butte, 1853 Calu-
met & HeCla, 164, 59s Centennial, 30
2S2 Franklin, 59245 Isle Royale, 100 6l2
Old Dominion, 35,30l Osceola, 4104 Quin-
cy, 419l Tamarack, and Il ,005 Wolver-
inc.
The market for copper is steady and
consumers continue TO buy prompt de-
livery at Is cents. Cash copper is in
the strongest position of any delivery
Arrivals continue behind schedule time
and available supplies for the next 30
days are very light. Consumption is
heavy and trade in manufacturing cir
Giles active.
The fotation of the Mayfower Min
ing company awaits the adjustment of
a few technical details which should be
accomplished within a few days. The
property comprises 400 acres of land, to
be purchased from st. Mary S Canal
Mineral Land company; 200 acres from
the Sheldon estate; 100 acres from the
Edwards people; 40 from the HUI
bert and 40 from the Union
Land and Copper company. in all
$40 acres. The company will have
100000 shares, par $25 The stock will be
placed at SIS per share, with 100000 in
the treasury.
The Standard Copper Mining compa-
ny has been organized with GOO
shares, to be placed at SIS per share
The land includes 1910 acres on the min
eral range surrounded by lands owned
by the Calumet and Hecla, and one
half mile west of the Tamarack. There
will be a treasury working capital of
$500 900
President Boynton of the Fortuna,
says:
we intend to build a gravity tram
way 10 connect the tunnel with the mill.
=. distance Of three-fourths OF Il mile.
This will enable us TO reduce the cost
NJ treating the ore which is al present
about $3.50 ton in Mexican money.
I'VE estimate we have at least s. 900 20
MN worth OF ore IN sight which on a
conservative basis should net the conf
rsny a profit not less than $50 per ton"