The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-21
THE MARKET ELSEWHERE.

New York, Feb. 20.-The active spec
ialties generally made large advances
today while the railways gained from /
to points
A strong tone prevailed practically all
day with the strength radiating from
one group of stocks to another.
The movement started in the gran
gers and standard stocks. Then the Pa
cities advanced.
Interest then switched into the Flow
er group and the southwestern groups
successfully, and then in turn to the
tndustrials with Sugar and Tobacco
leading the rise. Central and Southern
Pacific were weak in the forenoon prior
to the publication of the reorganization
plan of the former road, and subse-
quently rallied but feebly.
London opened slightly below parity
and on the rise here sold about 80, 900
shares, and subsequently purchased
about 5000 shares. Among the gran
gers, st. Paul made an extreme gain of
IL, being sold by London and being
purchased by western houses. Bur-
ltngton rose to a point and then dropped
2l2, closing about the lowest
The news that the syndicate had Sc
cured majority of the Chi. & AL stock
benefited the southwestern group, in
Guiding Texas Pacific, Missouri Pacific
and Kansas and Texas preferred, over
two points each. Union Pacifics fol-
lowed with a rise of over point. At
Gibson, preferred, was about the stron-
geSt stock among the railways, making
an extreme rise of 81 on favorable
forecasts of the Forthcoming January
statement Of net earnings, Among the
local traffic shares pronounced strength
appeared, Metropolitan making an ex-
treme advance of 5A, Brooklyn Transit
3B, and Manhattan 3% The move
ment in the latter was considered a
twisting of the short interest. South
ern railway preferred and Louisville
were the strongest spots among the
southern railways, although the latter
showed a decrease in earnings for the
second week IN February.
Tobacco was a sensational feature
among the industrials adding to it's re-
cent rise 1512 points. Many conflicting
rumOrs, all lacking confirmation, We're
disseminated concerning the continued
rise in tobacco. There are some in the
street who appear to believe that it is
a movement against the short interests.
part of which was formed on the break
ing up on the pool in the stock some
time ago, and another short interest
more recently formed In expectation of
violent trade war to follow the organ
ization of the Union Tobacco company
Sugar became active again and rose
"a points to 1875 the top price recorded
for the day. This movement was in spite
of a rival company making a cut in the
price of the refined article. In the final
hour realizations appeared in many
stocks. which caused some declines of
note, but the general market displayed
rallying tendency at the end
The dealings which were considerable
in excess of a million shares, were the
largest that have taken place in some
weeks with commission houses report
ing good volume of out-of- town buy
ing. The bond market shared in a gain
Of strength today, but the results were
of the merest fractions. Considerable
activity was noted with the inquiry as
Of late in the semi -speculative grades.
Total sales, So 500, 600
Government bonds were unchanged
in bid quotations.