The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-03
Endof lifelong Boom
in Sight.
NATURAL RELAPSE
Tobacco Was Only Active
Feature Of the Day.

In the stock market yesterday prices
softened all through the active list.
There was bearish disposition all the
way along, but no actual developments
of an unfavorable nature
T3ls logical deduction as to it's mean
ing Is that 1t is the beginning of 4 natu-
raj relapse from the intense activity of
tbs market during the past few months
The excitement at times has been al
most hysterical, and therefore the halt
is very welcome one. Spectators can
stop long enough to think carefully
over stock values and then, too, it dis
abuses the wild idea that there could
be no end to the long market.
1t simply means that the boom peri
od'' is over for a, time at least although
a good traders market still remains
that will permit plenty of opportuni-
ties for those who are bright enough
TO take the right side
American Steel and Wire common op-
ened yesterday at 81, sold high at 6l1a,
and closed at CO.'S. Preferred began at
l00Rs, climbed u, fell to 100 and climbed
q at the close.
Federal common began the day at 513s
reached 5112 dropped to 493s and closed
at 1875. Preferred opened at So, high
Tor the day, came down to 81, gaining
Il of point at the close.
Tobacco was the only active feature
OF the list. Opening at 1741a it jumped
16 points to 1907, then tumbled to Sc,
and closed by bobbing back to its high
mark again.
Brooklyn Rapid Transit opened at
9S4a, sagged steadily to S97s, and closed
there.
First figures for Quincy were 1H3s.
from there the stock reached 141%,
tumbled to 1885, and closed within u
OF the low price for the day
Manhattan, opening at 1117s, reached
~ ana then sagged to no. closing at
that figure.
U. s. Leather lost point and an
elgnth on the day, a point below We'd
nesday's close.
Union Pacif1cs were steady.
Total sales for the day were 7O6 $40
shares; bonds, 4,772,00
Inc tendency to fiuctuation in the
last few days has had little or no eff
1ect upon the steel stocks. So far as
american goes, either preferred or
common is good buy, and there are a.
Sood many Worcester investors who
are buying it and putting it away in
their strong boxes for big profits in the
futre. Coincidently with the in
crease In wages the American has
made an advance of about / cent per
pound on all wire and wire nails. bring
ing nails to 81 per 100 base in Chicago
and wire to $2.10.
Federals are doing fairly well, but
special attention is being turned more
toward the preferred than the COM
mon.
In their Illinois and Wisconsin mills
an advance of eight per cent in wages
went into effect today.
A dispatch from YOungstown,O says
that corporation with capital Of
10000, 900, which intends to construct
one of the finest and largest steel
plants in the United States, will soon
be organized there. 1t will not Join the
trust. The intention Is To erect a steel
plant in Youngstown that will contain
the latest machinery and every appli-
anoe for production at the lowest cost.
There is a good deal Of trading in
copper in Worcester just now, and in
the last Few weeks quite a number of
thousand shares have changed hands
through the brokers here. The greater
number of investments are, of course
made in the leaders, such as Montana
Calumet and Hecla, Isabella, Independ-
ence and their kind. But the outside
mining stocks are not without buyers
here, and some neat profits have been
realized.
In the outside market yesterday, the
foiiowlng quotations were noted: Vic
toria Sh@9; Fortuna, 75c; Bingham,
1SM@lS; Miners, 81 to 49, Copper
Range, 40 bid; Molones, 6@6%; Mass,
119o4s; Boston 11Q11h; Tmmountain
That the Parrot property is to be abb
sorped into the Standard Oil oombna-
ton, seems to be the almost unanimous
opinion. Its location beside the Butte
ND Montana mines would naturally
lead to that opinion, as otherwise il
would be a probable source of conten.
ton and litigation. Brokers closely
connected with the Standard OIL people
practically admitted this fact yester-
day by offering to wager that control
or Parrot would be bought at 80
Inc same parties offered to wager
$3.50 to $1,000 that Parrot will sell ri 40
within five days, and assert that 1s6 600
shares-the total capital is 290 000
shares-were offered to the STANDARD
OIL people at So and refused IL &c.