The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-16
MANY STOCKS -
WERE ADVANCED
Dealings Considerably Larger
Than on Tuesday,
EARLY MARKET ANIMATED
London Sold While Berlin Purchased
Northern Pacific Burlington Show
ed Considerable Weakness-Im-
proved Tendency in Bonds. s2

New York. February 15.-Many stocks
were materially advanced on the stock ex-
change today, with dealings considerably
larger than on yesterday.
Generally the early market was more ami
mated than of late, and strength developed
on pool manipulation and commission house
buying. London sold about 10000 shares of
stock, principally Northern Pacific, while
Berlin was reported as being a purchaser
of this stock. Northern Pacific common in
the local market received pronounced sup
port, apparently on pool buying. and on
large dealings advanced points. Around
So, at which point London was selling, enor
nous blocks of stock were absorbed, al
though the price hung for long time at
5sss.
The advance In this stock progressed in
spite of the dissemination of report that
the officials of the company denied that
the preferred stock would be retired or that
such a project had been considered. As
Northern Pacific common was the feature
of strength so was Burlington prominently
weak This stock which was advanced
yesterday in anticipation of action on the
part of the Burlington directors on re-
funding scheme, opened unchanged, devei-
oped weakness and made an extreme decline
of over points. The lowest figure was on
the announcement that nothing had been
done regarding the refuding at today;
meeting in Boston. This brought large real-
izng sales, but the stock, recovering, lett
its net decline only points.
The weakness of Burlington had little eff
feet on the other grangers, which displayed
more or less strength at Intervals Inc
high priced investment shares were con
spicuously strong, especially New YORK
Central and Pennsylvania. Southern Pa
cifc and Central Pacific developed pro-
nounced strength, especially toward the
close. New York Air Brake, which has
been rather neglected of late, made SEN
sational advance of 10%. There was con-
siderable covering of short sales by traders
while stock was supplied by houses with
Boston and Chicago connections.
There were some sharp receSSlonS during
the afternoon at the time when Burlington
and Sugar were freely offered down, out
prices picked up and continued to improve
to the close the leader in the recovery be-
ing Northern Pacific common. Union Pa
cific and Atchison preferred were decidedly
firm 1t was intlmated in the street gossip
that script dividend to Metropolitan
Street Railway stockholders, to be SUBJ
scribed at par, was in contemplation out
the stock was quiet all day and moved
very narrowly.
A brisk inquiry prevailed for some of the
prominent bond issues today, but the mar
ket generally displayed an improved tend
ency. Total sales $S,37O,0o0. United States
new As registered and the old As coupon and
the IS coupon advanced u in the bid price.
New York, February 15.-Money on call
steady at 2A@3 per cent; last loan, ~.
Prime mercantile paper, 2siQ3A per cent.
Sterling exchange firm with actual bust
ness in bankers bills at $4S6@4. S614 for de-
mand and s4S4G4S4A for sixty days; posted
rates, s4S414@4.s5 and $4.S61a94.S7; CONNER
cial bills, $4S3@4.S31k. Silver certificates
nominal, 591A@6O1s; bar silver, 59ss; Next
can dollars, AN. Government bonds are
strong; state bonds inactive; railroad
bonds firm. t's2f +
nv Private Wire to Paine Murphy & Co.