The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-04-29
THE MARKETS.
Wall Street Review.
by Associated Press.


vaded today's dealings on the Stock
Exchange and the temper of the mar
ket was extremely professional, result
Ing in irregular net changes with losses
predOminating. London traded both
ways and commission house business
was on a very restricted scale. Traders
were disposed to let stocks go in an
ticipation of an unfavorable bank
statement tomorrow and one of the
large operators changed tactics and
took the bear side. Forecasts of the
bank statement are usually unreliable,
but bank reports for the week seemed
to indicate loss in cash on all ac-
counts of nearly $500 900. Anaconda
Mining tluctuated widely, ending with
net gain Of nearly three points on
the announcement of the large copper
combination; silver certificates sold at
65 at one time, the highest price re-
corded in long time. The passage of
the franchise tax bill by the legisla
ture was responsible for weakness in
most of the local stocks, there being
declines of points in Brooklyn Union
Gas, 3A in Metropolitan, nearly as
much in Consolidated Gas. and a sharp
break in Manhattan, although it left
off only rs down; Third avenue. on the
contrary, rose 3 points. Another rea-
son for weakness in Manhattan was
health on its Ninth avenue structure.
The announcement of a settlement Of
litigation held Brooklyn Transit up
in spite of the weakness in similar
shares generally, and the stock gained
over a point Excepting Colorado Fuel
and Iron, Improvement was noted in
the iron and steel properties. Other
strong spots We're New Jersey Central,
Iowa Central and Northern Pacific.
The general railway list was inclined
to droop on moderate dealings. The
market closed heavy. Total sales 1885,
700.
Today's bond market lacked a de-
cisive tone, but the undertone Of the
market was healthful and some issues
were in keen demand. Business eX-
pands from day to day. today's trans
actions reaching $4,375,000. U. S. new
AS registered and the old As do de-
clined 4 and the Ss coupon II in the
bid price.
BY Darlington & Cusack.
New York, April 2S.--The opening
was quiet and generally without fea-
ture the steel stocks showing consid-
cradle strength and the railroad a
slight advance. After the opening
Manhattan Beach developed weakness,
selling down ~ per cent, but subse-
quently recovering the greater part Of
its loss.
Notwithstanding the announcement
of the formation of the copper pool
Anaconda sold off sharply during the
early part of the session, recovering
all its loss and advancing above the
opening price towards the close
The news of the cessation of hostil-
tiles fell very fiat, and the market up
to o'clock continued duh, with some
show of weakness. Around that hour,
quick advance in Brooklyn Rapid
Transit, followed by Anaconda, strength
ened up the whole list and the market
rallied on the covering of short con-
tracts throughout the whole line.
Mr.. Keene is manipulating the pool
in Anaconda and it looks as il the
stock will now sell higher. The Bur-
lington statement for March shows a
decrease of about one quarter of a mil
lion dollars with a net decrease Of
Sll6,OOO, which caused some selling in
the Changers when published.
Flower brokers We're quite prominent
buyers of Federal Steel preferred, but
the general market was mostly con-
fined to the trading professionals, COM
mission business being remarkably
small Northern Pacific common was
one of the strongest features through
out the day on one of the time stories
VI Gtllllne tue preferred STOCK.
The grain market reflected the con-
fiicting crop reports and a continuance
of bad weather throughout Kansas is
affecting AtchisOn and Rhode Island
somewhat unfavorably in the market
We do not look for much movement
either way until after the first of the
month, as the leaders are laying back
until after the payment Of the May
dividends before taking any active
position on the market.
Brooklyn Rapid Transit was pretty
strong, rallying on small sales and
showing a remarkable strength, con-
sidering the prices. International Paper
common is very good purchase around
these figures and will undoubtedly sell
very much higher within the next
thirty to sixty days. You cannot go
very wrong in buying it.
The market closed fairly firm on a
slight rally.
Quotations furnished by LABAR &
FULLER, stock. grain and cotton urok-
trs. rooms 209 and 2lO Board OF Traue