The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-02-27
THE MARKETS.
Wall Street Review.

BY Associated Press.
New York. Feb. 25.-The market. re- |
mained fractionally lower today on deal |
ings 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. Inc
feature of the dealing both here and
abroad was the large demand for New
York, Ontario and Western on the eXpec-
tation that because of it's new acqulsl-
tions in the coal lands the company would
profit by any improvement in the an
thracite trade The stock gained points
on transactions of almost 100000 SHARES.
In the general market the opening was
hesitating but a pronounced tone soon
developed and prices ran off sharply on
liquidation in the specialties and success
full drives against the GrangerS, AtCnl-
son preferred and Northern Pacific. Re
newed buying of Sugar and like proper
ties rallied the market but the unfavor-
able bank statement brought heavy re-
alizinG, particularly among the high
priced stocks. Toward the close Sugar
and Tobacco started upward again and
tho general market tailed on. The market
closed firm with a general rise in prog
ress. Sales were 52O,1OO shares.
BY J. r. l.. Darlington & Co.
New York Feb. 2j.--The market opened
slightly above closing figures, the princi-
pal interest being centered in American
Steel and Wire and Ontario and Western,
under heavy dealings. During the middle
of the session the whole market advanced
fraCtionally on covering of shorts, induced
by desire to close contracts over Sunday
and the market showed some real
strength up to publication Of the bank
statement which, all things considered,
was not a very favorable one. There was
an actual loss of money to the interior
and the increase in deposits was practic-
ally taken up by the heavy interests in
| loans so that the reserve showed the
greatest decrease in some time. As we
predicted some time ago money IS the
predominant factor in the situation and
| the discrimination by banks in loans is
affecting the stock market to n certain
| extent. Should there be any increase in
| the bad conditions we shall undoubtedly
| have a sharp decline In prices, and for
| that reason We are inclined to he con-
| servative in our adVices. After the pub
| liCation of the bank statement the whole
| list ran of sharply with fresh short SELL
| ing and some free liquidation in certain
| stocks. London was free buyer during
! the early part of the day covering shorts
| below these prices. The situation in Ma
nia which caused some uneasiness seems
| to have cleared up somewhat today and
was less of factor in making prices 1t
| Is lust as WELL however to consider the
| probable receipt of news both good and
| bad and not to take on contracts extend
! ing over too long period of time, While
! there can be no doubt of our ultimate sue
| cess yet the kind of warfare which Is be-
| ing carried on cannot fail to cause us
| uneasiness from time to time. Ontario
| and Western, which we have been strong
| ly advising the purchase Of, was one Of
the strong features today. 1t may sell of
| lightly in n weak market, but 1t is going
very much higher. Tin Plate which we
yesterday and in previous letters called
| your attention to, was again one of the
| strong features of this morning and closes
| with fair advance. We have repeatedly
urged upon you the adviSability of buying
Industrial stocks and you will find that
they will become the principal feature OF
the market this year and present prices
for Silver, Steel and Wire, Tin Plate. Fed
eral Steel common, Mating, etc, will looi
very low by the middle of next summer
The market closed at a slight recovery
from bottom prices with some buying by
the large interests in the street.
Quotations furnished BY LABAR &
| FULLER, stock, grain and cotton brok
ers rooms 200 and 2l0. Board OF TRADE