New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-29
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market made further progress
toward higher level in yesterdays transac-
lions Dealings were again enormous. and in
some issues advances were sensational, as IN
Chicago and Northwestern. which sold twelve
points above Mondays closing Metropolitan
street Railway also made sharp advance on
huving induced by the Company's offer to buiId
the proposed underground rapid-transt system.
and for the same reason Manhattan was heavy,
with a small net loss for the day. Brooklyn
Rapid Transit added five points more to its mar
ket value while the other sO-Called Flower
stocks continued 70 exhibit strength and aCtiv-
ity The strength Of tho stocks in the Wander
hit eroup was feature Of the day. and Street
gossip was extremely hullish on NewYork Cen
tral Northwest. omaha and Cleveland. Cincin-
matt Chicago and St Louis II is generally I'M
derstood that the last-named stock will be
placed upon a dividend basis in the coming
summer Reactions from the hest prices took
place I'm the afternoon. hut final figures showed
substantial improvement in the greater num-
her Of issues.
The current demand for stocks undoubtedly
reflects unanimity Of opinion on the part Of
conmission-house customers and important
roarko, interests that there is 10 be a big bull
movement this spring and summer. Every one
apparently is anxious TO get in before the
scheduled time for an advance arrives. and so II
IS that The market has suddenly developed enor-
nous activity and advancing prices. High-priced
stocks whose merits cannot be disputed appeal
strongly to the public operator on margin. as
Well as IN the careful investor. hut it is we'll TO
hear in mind that in an active market, with
prices we'll up ; per cent margins are constant
~ IN danger while 10 per cent ones appear none
zoo safe As this is bull year, speculation will
not he confined to any one class Of stocks, and
the high priced issues. many Of which are near
their legitimate level now. will not enjoy con-
slant speculative attention to the exclusion OF
the stocks IN which as yet there has been prac-
:icsny nothing doing. 1t is believed In we'll
informed circles that the current year will wit
Tess some important changes in the market val
uss ~ the low-priced issues. and that holders OF
stocks such as St Louis and San Francisco Chi
cago Great Western Kansas and Texas and
Wabash preferred will be much better of six
months hence than they are now.
Union Pacific shares are again being bought
In the belief that the Union Pacific road Will
figure in some future consolidation of Wander
hilt properties When 1t was recently officially
denied that the Union Pacific. Northwestern and
New-York Central were to be consolidated. the
shares Of the first named company were scarce
ly affected at all. and ever since that time
quiet absorption Of both the common and pre-
ferred has been going on Union Pacihc issues
VIII rank some Jay dUl'lle Ai' HiSH-'l lass <H'i'
lean railroad investments. and, so far as the
actual value Of the road is concerned. the prop
erty does not need TO be incorporated with the
New-York Central in order 10 increase its in
trinsic worth All Of the Western roads are
doing a splendid business. and February state
ments coming to hand make excellent ex-
hibits. despite the unfavorable weather prevail
ing I'm that month The fact that the February
statements better than recent estimates Is
reflected in the buying Of the shares on the
Stock Exchange. especially the Burlington, St
Paul and Rock Island issues. Burlington ad-
vanced 10 l453s Yesterday. St Paul to 1z9i2. and
Rock Island to l21. OF the industrals Federal
Steel was again a strong feature. while manipu-
lation in Sugar Refining and the stocks Of the
two Tobacco companies caused sharp advances
in the respective issues.