The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-22
LEADS ALL.
American Steel and
Wire Stocks.
NO REAL DECLINE.
Its Recent Operations in the
Stock Market.

holdings figure far up into the millions
OF course, the drop, which has been
light one at the most, has been the r.
sstlt Of natural sympathy attsudap
hpon the reacticnary movement of III
mock market during the last few weeks
Another big lift of any particular mar
ket feature, such as Sugar, for instance
would bring the Steel stocks back to III,
figures Of a week ago. Indeed, the stool
has not dropped below points in an,
Instance
But when it is considered that "in
eustrlals," are now making up the piv
otad center of financial operations il
this country for the first time in it's his
Sopy, and that American Steel Is lead
sslg them all, q drop of even four point:
is worthy of especial considera ton.
AS an instance of the attention at
t1'aoted by the industrial shares In tn,
markets, on day taken at random al
the beginning. of this month these
stocks, although forming only % pei
cent of the entries in the report of thc
Stock Exchange transactions for thai
day. represented more than 80 per cent
'N''iAA"'N' ~ tAAC o<'S IA t1C HUH
Der of shares sold, In the report for thai
week the week ending March 4--of 10
active stocks quoted the industrials
numbered only 81 or less than Is pei
cent, While the shares in them sole
AuInoerea l'l94,o49 out OF total sales OF
s,o3o.25S shares. or nearly 80 per cent.
BY farathe largest number of shares
OF any one Stock sold during the week
vas or tha American Steel & Wire Co
sHd II must De borne in mind that il
vas only incorporated two months ago
Ct me common ana preferred stock OF
1his company. $40 020 shares We're dealt
an during the week on the New YORK.
STOCK exchange alone. There were
T9,l2t shares of preferred traded; high
est price lUo12, logW est, 80. OF the com
mon, l6bSS3 shares were sold; high price
hAA low, 591-
ne decline IN American Steel & Wire
curing the last Jew days IS said on the
street to be partly due to the specula-
tiTe| selling of John W. Gates
VINO has gone to Europe on
business connected with the company
What the purposes of Mr. Gates trip tc
Europe are. it is difficult to learn al
though President Lambert says the re-
suits will be entirely satisfactory to the
stockholders. nr.
In the Financial News, President
Lambert makes this statement: 1T is
not true that we, have bought the Nor
ton IRON orks OF Ashland, KY We had
no desire or intention OF buying the
Norton.irop works, or any other works
AT tbs present time, our mills are To-
Gated at Worcester. Mass, Allentown
Pa. NeWburgh, n. Y, DuncanVille
IA, Pittsburg, Pa, Cleveland, O., Sa'
lem and Findiay, O., Beaver Falls, Pa.
bra ddock, Pa, Joliet ILL.,, Dekalb, Ill.
W aukegan, ILL.,, Anderson, Ind, Craw-
fnrdsNille. Ind Lawrence Kan, ano
Kansas City, Mo, These various plants
ere so located that we can handle this
business TO the best possible advantage
snd save largely in freights by shipping
say, from Joliet ILL.,. to territory natu-
rally tributary to it, and by shipping
from Worcester, Mass, to territory
tributary to Worcester, and so on down
the line: so that you will see that so fan
as the locations of our plants are CON
cerned. we have all the advantages that
are possible to he obtained. All of our
plants are thoroughly up to date. Each
is running fun and with prospects of
large and satisfactory business this
year. 1t will not be necessary to make
any further purchase for the reason
that we have all the producing capac-
fly that We need It has been our
policy to SO fortify ourselves that we
are DT2ctiTajtN 1ndnnpndpnt. or II YOU
please. to put ourselves in a position
90 take the ore from our own mines,
transport it in our own vessels. convert
1t into pig iron, in our own furnaces,
POLL il into steel billets in our own steel
mills, roll Ii into wire rods in our own
rod mills. finish IT into plain and barbed
wire in our mills. and to make all the
different kinds of wire used not only
in the United States, but all other coun-
we have succeeded as we own one of
the best ore mines in the Massauba
range We have our own coal mines
and coke furnaces; so you will see that
we start at the bottom and have all the
profits that there are from oreto finished
material Our business is entirely sat
isfaotory and the company is doing
well.'''
The Financial Chronicle has conlpiled
a LIST of All classes of Industrial combi
nations formed during the last year,
and the first two months of This year,
which show as a. total authorized cap
ttal for those of last year. of S916 49,
600 and for the AZ found in January and
February of this year, the astounding
total of S1.106, 300. 600 sum greater
than the total appropriations of the last
congress, exclusive of the war budget,
or a rate for the year. if kept UP, of an
amount almost equal to three times the
national. debt of 20 wears ago, Sc, 500. 900, =
boo In tbis cononila tion no account ia
fajxsn If sorne increases of capital, and
several cornhinations which promise 10
be accomnlished within a short time.
are NOT Included
81 these fhe American Steel and Wire
con1panyy which as has been seen. all
though one If IKE newest OF the indus
friaS coInnanies has attracted very
80 lo,,it', - oa,1itoI stool, If