The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-02
The Market Tended
Downward.
STRONG OPENING.
Manhattan Has a Surpris-
ingly Quiet Day.

Inc STOCK market was Irregular yes
terday from opening to close, and
showed a sagging tendency throughout
the day. Prices opened fairly well at
the opening on the news from Manila
that the German cruiser had been with
drawn and that the German govern
uent had requested the United States
10 protect German interests. But the
gain was lost before noon, rallying
little later, and closing dull and steady.
American Steel & Wire, common,
opened at 614s. sold up to 6212. dropped
TO SOS, and closed at 81, Preferred
opened at 1o1, climbed a half point,
dropped one and one-fourth and closed
a half point higher.
Federal. common, opened at so, gained
one-fourth, sold down to SOS and c os
twoeighths above that point No def
mite details of the reported consoida-
lion of the Federal and National Steel
has been announced. In fact the truth
OF the report is not officially admitted
although II IS generally believed in fin
dnciaI circles. Federal, preferred
started in yesterday AT IS. lost a point
sold nigh at SIS, and closed at S7s4.
There was very little trading done in
Manhattan, only six quotations being
made throughout the day. II opened at
1925 and closed at ll1s4 The increase Of
capitalization 10 SIS 600, 900 shows that
the company propose TO proceed calmly
IN the matter Of electrical euuiunenr
in spite of Tammanys hostile legisla-
ton Over so per cent OF the stoCkhold-
ers have ratified the proposed increase
ana the work viii be begun shortly
several bills aimed directly at the Man
haitian are pending. and they cover al
most every department Of the road 3
operation. President Goulds statement
OF yesterday is significant, that the at
tacks of the Tammany municipal ad-
2nlnlstraLlon We're cOincident with the
request TO permit the autOtruck com
d, paAy TO string air power pipes along
the Manhattan structure. The munich
PAL assembly, late Tuesday passed a
resolution compelling the company to
place drip pans under its tracks. so
amending 1t as to give six months 10
complete the work. All bills in the
BOARD OF aldermen affecting the Man
haitian were referred TO the railroad
committee. This is regarded as a big
victory for the company.
chicago, Burlington and Quincy
opened the day at 1921, climbed I'D to
54S1z, sold down to al and closed a
half-point Up.
S0So1 N44d1l5Cu Dul uLIlet opening at
1888, rising to 139 and closing at 138ls
There was nothing doing in Tobacco
IT opened at 1S9, climbed 29s and closed
the day at 1874. Arrangements have
been practically completed for the
syndicate to control a large share of
the Havana tobacco output. The new
corporation is to be known as the Con-
solidated Tobacco Company of Cuba
1t will be capitalized at 81. 600 900. of
which two-thirds is to be preferred and
one-third common stock. Among the
persons interested in the new concern
are Garcia Brothers & Co, J. c. Tom
Nnson and r. r. Gariu. The company
mas secured options on % factories and
plants with tobacco lands attached
Wheat was inactive all day. It opened
up at 1875 and closed at 1872.
Boston and Montana opened 10 higher
than the previous days close, at ESQ
receding to 1913. The Montana leFisIa-
ture permits transfer Of the property
10 the New York corporation of the
same name. Butte rose 2 TO "a: Area
dian 4, to 49, Isle Royale fell 2. TO 36Ii
rallying to 37iz Franklin dropped .. To-
=. but recovered to 23$s; Osceola was
on 5l2 at SIZE, rallying to 89% Tana-
rack was 10 lower, at 200: Calumet held
at 715, Quincy at 100, Baltic at %. old
Colony lost 1, to 16, but recovered in.
Santa Fe rallied from II TO 49,; Centen-
ma IlCAu a. % q w OlNEllle was Off p
10 AZ, but got back to a; Atlantic lost
~ more, to Blk Winona fell y, 10 III:
Rhode Island IA, to 12R: Mohawk 2
TO "a, rallying 10 2S Parrot was up r.
at 4412, reCeding /: Adventure lost p
to 13 rallying l; Gold Dredging lost ID
TO SS12; Utah was up >, at A.: Santa
Ysabel Ia to 12ia. In the general list
Bay State Gas was Off from 2 GIG TO
2ls, rallying to 2ta; Bell Telephone
eased 8, to 349, rallying to 352: Shoe
Machinery gained p, TO 10; Central
Massachusetts preferred fell AZ, to g.
rallying j. United States Oil was UP J..
at A.
The newly organized National Steel
Company has absorbed the Ohio Steel
Company OF Youngstown, o. Shensn-
go Valley Steel Company of Newcastle.
Pa, Belaire Steel Company Of Bellaire
Aetna Standard Steel and Iron Compa-
ny Of Bridgeport, o.. King, Gilbert &,
Warner, Columbus, o., Bull Steel and
Sharon Iron Company's, Sharon Pa,
Union Iron and Steel Company, Youngs-
town, O.
Considerable buying of North Amer
lean Is reported from Wall street. The
capital stock, now $40 600, 600 will ii is
said. be reduced 70 IS 000, 900, holders to
receive one share Of the new for each
eight shares of old stock The last an
nual report of the company to May 81
1895, showed nominal assets of more
than $1,000, 600 Of which $500, 900 were
represented by stock IN the Milwaukee
I1l Ry. &; l.. co. The only liabilities
we're an open account Of $4,000 and