The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-26
STOCK MARKET
WORKED LOWER
Philippine Situation Continues to
be Used as a Bear Argument.
VARIOUS RUMORS AFL0AT
Favorable to the Specialties, Including
Tobacco, Sugar, American Steel and
Wire, International Silver and
Third Avenue Not Confirmed.

New York, February 25.-The stock mar
ket worked fractionaly lower today on
dealings of half a million shares during
the short session The Philippine situation
continued to be used as a bear argument
with the professional element, which was
largely in control of the market
There were various rumors afioat favor
able to the speeialties, including Tobacco,
. Sugar, American Steel and Wire, Interna-
tional Silver and Third Avenue Railroad,
but lacking of confirmation. Insiders were
said to have given assurances that the reg
ular dividend disbursement might be eX-
peeted in Sugar, and for the stock rose
over points from the lowest.
1t was ascertained that Tobacco earnings
were large and that the company was
backing those securing control OF the Gu
ban cigar making pants, but this was in
a measure offset by denials from Union
Tobacco company sources that there would
be consolidation with the American To-
bacco, which made only a fractional gain.
Reports OF the acquisition OF other con-
Germs and earnings gossip We're RESPONSE
Bile for sharp rise in American Steel and
Wire, only fraction of which was re-
tanned. Favorable trade adviees lent
strength to international Silver.
The feature OF the dealings both here ana
abroad was the large oemand Tor New
York and Ontario and Western on the eX-
pectation that because OF its new acquis.-
lions in the coal lands the company would
profit by an Improvement in the anthrae.te
trade The stock gained points on trans
action of almost 100000 shares. In the gen
eral market the opening was hesitatlnS,
but a pronounced tone soon developed and
prices ran OH Sharply on liquidation in the
speciaitleS ana successful drives against
the grangers, Atchlson preferred ana
mol tIlern Racine.
f.enewed buying of Sugar and like prop
critics raliieu the market, but the bank
statement fulnlled bear expectations,
showing another decrease in reserve o.
over Sz,OVO,UUU, and an increase III Ioans OF
nearly $l3,UUU,UvU, ana Drought heaNy real
izinS, particularly among the hlSh-prlcen
stoohs. Toward the Close Sugar and To-
bacco started upward again. and the gen
eraI market talIed on. 1nlra avenue,
which mas been extremely conservative III
its movement unul OF Iate, assumed
commanding position among Inc erratle
speciaities, rising today W. points to 80
the rise was attended by relleratlon OF
the various reports concerning Inc prop
erty, which as yet lack authenticity. Inc
market closed hrm, with a general rise N
progress.
Tne movement of stock prices for the
week was extremely irregular, with losses
prevailing among the standard Stocks IN
Guiding Northwest, A, Burlington, q; New
York Central, "a, Pennsylvania, rs, and
deelines of ga for Southern Pacific and Z
for Central Pacific There was some very
pronounced gains, however, among the
local stocks, including Third Avenue rail-
road 441h; Consolidated Gas, 1925, anu
Brooklyn Union Gas 6. Among the Indus
trials the maximum gain was that of To-
bacco, 81, while the preferred rose I;
American Steel and Wire, 1913; the prefer
red 5, and Sugar, 81. The enhancement OF
these shares conveys an idea OF the part
professional manipulation played In the
weeks market. Other notable advances
were New Jersey Central, AZ; Ontario and
Western, 81, and Chicago Great Western
A. s. Generally speaking, stocks were in
clined to advance until London reversed
her tactics, and purchased some stocks on
Thursday for the fortnightly settlement
But as often happens, stocks were freely
supplied when there appears an inclination
to buy abroad, and although the market
was again opened up on FRIDAY, the ten
dency of the general list continued down.
ward. The feverishness of d eaHngs was
suggestive of a renewal of professional
control of the markets operation. The
enormous increase in paper values OF
crust stocks, including some but recent
ly launched, brought about cautious real
izing elsewhere.
Total sales of stocks were $4,000 shares
including: 1910 Atchison; $500 Atchison,
preferred; 25,O9O Burlington; 1850 Louisville
and Nashville;. 1880 Omaha; 10.52O Rock
Island; S,723 Union Pacific, 1880 st. Paul;
43OO Texas Pacific; 7.340 Union Pacific, pre-
ferred; 14,t95 Tobacco; u,620 Steel; S7,140
Sugar; 1880 Tennessee Coal and Iron
New York, February 15-Commercial Adj
yertiser's London financial cablegram:
The markets here were quiet and firm
today in the absence of confirmation of the
receipt of the Ameers death. Americans
were hard, the Manila news being disre-
garded. The continent bought Ontario and
Western. Copper was dull. Tintos, 39$4
Anncondas, 1-16; Utahs, SIS; Bostons, 25s.
Money was in good demand on every divis-
ion Collections were good to the amount
900 pounds, that amount being taken to
the Cape. Japan took 100000 pounds in the
open market. Germany is still buying
slightly at IT'S AID.