The times., 1899-03-24

not retained. but although there was some
recession in the early afternoon, the close
was firm, with good advances in most
stocks.
Burlington and the other grangers thus
took the place OF Tobacco and Sugar, which
for time have held the centre of the
stage in turn, somewhat to the detriment
of general speculation. The action OF the
grangers is deserving OF special notice for
this reason. and also because the street
has seen the group lead general advance
in prices on many occasions heretofore.
and is apt to consider them the .harbinger
of spring" Burlington was the most act
i've of the group. The stock opened at 1i1.
advanced to 143 SIS, and closed at 1i2 rs
making net gain of nearly two points.
Rock Island opened at III 1-S, advanced
to lis 3-S. and closed at lis. Atchison pre-
ferred opened at 60, advanced full point,
and closed at so 1-2, with a net gain of a
half point. st. Paul was the least satis-
factory of the group, despite general be-
lief that its movement would be rapid
when it should begin. The entire advance
of the stock was less than full point, and
the net gain of the day only a half. ST.
Paul sold ''ex'' dividend yesterday, and
thus failed entirely to recover the divi-
dend. There was little II any news regard
ing the group, but 1t is supposed that there
was heavy covering of shorts in Burling-
ton. 1t is becoming a more and more
dangerous pastime to sell the grangers
short. owing to the small amount of stock
floating in the street One story told dur
ing the, day was of news soon to be pub
lished regarding refunding scheme in
burlington, which, it was stated, has now
been fully decided on. No confirmation of
the rumor. could be learned
A broker who spent two days in New
York early this week endeavoring to dis
cover the meaning of the fluctuations in
Sugar made the statement yesterday that
although there has been no formal agree
ment between the trust and its rivals, All
armistice for the consideration Of a treaty
has undoubtedly been declared. 1t is his
opinion that there will be no further hos
tilities, and that within short time the
trust will give up the manufacture 0i
coffee and the Arbuckles go out of the
sugar business. 1t seems probable that
this is, in fact, the situation, or very neal
it. Some advantageous move must have
been made by the Sugar people or II would
have been impossible to send the stock SC
high, even with the Napoleonic aid OF
Broker Lawson, of Boston. The move
ments OF the stock were inconclusive and
suggestive OF nothing in particular yes
terday.
The coalers WERE next to the grangers
the most interesting group on the list
They were strong all day, apparently In
anticipation of some news of the agree
ment among the roads Immediately after
the adjournment Of the New Jersey Legis-
lature. Lackawanna was the most buoy
ant OF the group. reaching ia "a from
low point of 167. Delaware and Hudson
advanced point and half, and the othel
stocks all made fractional gains.
Peoples Gas was very strong in the
last two hours of the day, and before tn,
close had again attained to new higf
level considerably in advance Of any pric,
heretofore reached by 1t. The opening fol
the day was at 11S 1-2 and the top pric,
l21 1-2, an advance Of three full points
The close was at 121. squeeze of tn,
shorts took place in this stock also Th,
Street was getting ready for the advanc,
in it, and buying by Flower and othe
leaders gave the cue. The general opinion
is that there may be still further upwarS
! movement today.
Brooklyn Rapid Transit was strong al
day, but made only fractional gain. Tn,
stock has been neglected somewhat fo
| two days and the Street expects to see al
| advance today.
There was a tip circulated yesterday aft
ernoon that Federal Steel preferred is Il
be taken up by Mr.. Flower within tw
| weeks and that it will be sent to par
| The original authority for the story wa
! a good one. The stock has not advance
I for weeks, but it has been noticed that
| is held up well in any breaks of the gen
eral market. The talk is bullish regardin
Steel and Wire common also. The facto
against which all OF this class of stock
will be obliged to contend in the future i
the indisposition of the banks to recogniz
them as good collateral. This may have
depressing effect on the industrials, bu
it will be good thing for the genera
market unquestionably.
Manhattan was higher yesterday morn
( ing than at any time later in the day TIL
friends of the stock talk of an immediat
| large advance for it.
Texas Pacific seconds were active an
strong. If the statement is accurate tina
s16,000.O00 Of the Iron Mountain fours wi
be given in exchange for the Texas sec
onds. the percentage allowed them
about 62 1-2, but an important considera
ton is that the Iron Mountain bonds ar
| 10 be underWritten at 80.
The local exchange yesterday vas activ
but without special feature. Capital TraC
ton was in demand and 200 shares change
hands at So IA to So 3-S. Metropolita
sold for 221. A story was heard on tn
street to the effect that the Metropolta
road is to be sold to the syndicate fo
$3.50 share instead of 1925. Washlngto
Gas sold for 5S 1-2 and 5S 3-4, and NOR
would have been taken at the former iigur
II 1t had been offered.
The Washington Stock Exchange.
Sales-Regular Call-Capital Traction
6OGS5 IA, 142GS5 3-S; Metropolitan Raj
road 406221; City and Suburban Raj
road 23@47 1-2, 1@47 Ia; Washngto
Gas, 50G5S ga, 2G5S 1-2; Mergenthal'
Linotype. 10q1s3 "a, 5G1S3 1-2 s. o. b
10G1S3 IA, 10G1S3; Lanston Monotyp
225Q1S; American Graphophone, 10G12 Il
Pneumatic Gun Carriage 100G3S cents.
After Call-Washington Gas, 4@5S IL.
GOVERNMENT BONDS
Bid. Aske
Us IS 1906 Q j J.-............ ...... lilA liz
US AS 1907 Q j. ..... li2S ii3
US as l925 E. 80. .............. l2Sh l29
US As c 1925 ..... ... :. -. 12S& l29
US h'sC Wi OF. -. .......... ll2A 1l2
US SIS 1908 @ F.... -. i07a4 los
US SIS Ri9)S QCF. -. ......... 107a l0S
DISTRICT OF COLUMBIA BONDS.