The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-17
ALL PROMINENT
STOCKS ADVANCED
With Gains in Many Cases Ma
terial.
TONE STRONG AT THE END
Northern Pacific and Tobacco the Only
Stocks That Were Exceptions to
the Rule = Federal Steel
Went UP Before Close
TONE STRONG AT THE END

New York. February ALPHABETICALLY ell
prominent stocks advanced today with
gains in many cases material, and trading
left off with the tone strong and prices at
the best. Traders from time to time sought
to bring about reaction, but were dis
lodged from one position after another and
the upward movement became general.
In fact, the only active stocks of import
ance that were exceptions to the rule were
tobacco and Northern Pacific, the former
suffering a loss of 3h the prospect of
increased competition and the latter "a on
decrease in earnings reported yesterday for
the second week in February which decrease
was said to be due to storms. London
houses reversed their policy on Northern
Pacific and bought more than they sold of
1t and other stocks. Burlington, which was
ex-dividend today, made an extreme adj
vance of IA on large volume of business,
approximating 100000 shares. The buying of
this stock was largely by houses having
Boston connections. The advance was slim
ulated by the statement of a prominent
operator that he had purchased largely in
the belief that refunding plan would be
announced in few days. The influence of
Burlington's strength permeatcd the whole
AASL, Dul especially dnSClSu the STdUSeTS
which were benefited to the extent of a
nearly points, and the preferred over
point. while Central Pacific advanced per
cent. on the report that an arrangement
had been reached with the governmnt COM
mittee for settlement of its obligations to
the United States. Metropolitan Street
Railway and Third Avenue were very
strong, rising AZ and s respectively. Fed
eral Steel was in the van of the Flower
stocks in their rise, which began as the
day drew to close; the common advanced
8 points and the preferred 2. Among the
coalers, Reading first preferred and Jersey
Central rose ~ each. International Paper
and Sugar advanced over A points each.
New York Central and Northwest, among
the Vanderbilts, were benefited about
point in the rise, while c., c., c. & st. L.
left off with gain of 19s.
The traders thought that the fractional
advance in London before the opening had
been manipulated from this side. They
bought freely, believing the results from
the storm would lower values, temporarily
at least. Subsequently they covered from
time to time as strength appeared in the
various stocks. In the final dealing some
stocks were taken in expectation that the
days advance would bring the public into
the market in day or two. The excess of
exports over imports for January, approx
mating $57 100000, was something of a sus-
tanning factor inasmuch as it was taken to
be an easy means of settling for the large
sales of American stocks for foreign ac-
count in the past three weeks
The healthful tone in stocks received
considerable backlog from the confident
purchases in the bond market. Central
Georgia consols and Wisconsin Central
f1rsts led in point of activity and strength
and important gains were also chronicled
elsewhere. Total sales, IS, 100000.
United States AS, new, declined rs in the
bid price.
New York, February 16.-Money on call
steady at 21a63 per cent; last loan, 21a;
prime mercantile paper, 2Ad3A per cent;
sterling exchange steady with actual bus
mess in bankers bills at $4.S664S6M for de-
mand and at s4.s464.S4A for sixty days;
posted rates, $4S564S7; commercial bills,
$4S31b; silver certificates nominal, 59laQ
COZ; bar silver. 59sl; Mexican dollars, AN.
Government bonds weak.
State bonds inactive.
Railroad bonds strong.