The times., 1899-03-24
COAL STOCKS
lead THE MARKET
Lack of Antitrust Legislation
Brings Relief.
An Easier Money Market Improves
the General Condition.
business in Large Volume and Tone
Strong-Sharp Advances in
Some Standard Issues.

New York. March 2S.-Trading in the
stock market at the opening of business
was in extraordinarily large volume and
interest was well distributed. The gem
eral tone of the market was decidedly
strong and there We're. sharp advances
scored in some quarters of the market.
After the initial dealings there was some
contraction in activity and interest be-
came more concentrated IN certain stocks,
but the general market still retained a
firm undertone. AS respected the trading
at large, it appeared that the passing away
of uneasiness as to money market condi-
( tions was the chief influence in bringing
new buying orders into the market Aside
/ from the easier tone in the money market,
| the days situation comprised very little
| of general Importance.
| The most interesting statement Of traf-
| fic returns was that of the Southern Rail-
way Company for the month of February.
| In view of the severe weather conditions
| that prevailed throughout the South in
| that month, the statement was gratify-
! ing one. While 20 per cent of the gross
earnings of the company was expended
| for operating expenses, the net returns de-
creased less than $4,000, and the state
! ment for the eight completed months OF
I the year shows an increase in net earn
ings of $672, ,762, or over 13 per cent.
! The anthracite coal shares were the
leaders of the market. The advance there
/ was referred to the relief felt at the
prospective adjournment of the various
| State Legislatures without the passage of
any strike bills. The Reading shares
were the active features OF the movement
| in this quarter of the market, but the high
er-priced stocks of the group scored the
most noteworthy advances Other very
strong stocks we're Peoples Gas, Brooklyn
Rapid Transit, Burlington, and the shares
of the companies based on the iron indus
try. The other granger shares advanced
i'll sympathy with Burlington and Quincy,
though to lesser extent. New York Cen
tral and the Pacific shares were compare
lively neglected. Apart from the transient
interest taken in ascertaining the tend
ency of American stocks in the London
market before the local opening there was
little influence exerted on that account
Other active features were Manhattan
Railway, which opened strong, but ssgged
away with the course of the day, and
General Electric. which rallied sharply
from an early further decline.
Sugar Refining was exceedingly erratic
and the dealings in that instance reflected
the utmost confusion OF speculative ssnti-
ment. There is no occasion for any, as the
facts are as they have been set forth In
this paper several times this week. There
is no settlement of the trade war pending
and none is In sight. Persons who permit
themselves to be deceived by the base,es:
rumors now in circulation have only them
selves to hold responsible for any conse-
quent losses. 1t is fair to say in this re.
spect that the various interests in tn,
Sugar Refining trade have steadily dis
countenanced the reports of a settlement
of the trade war, though il was not to b,
expected that their denials could 1yertak,
the flood of misstatements of the situa
ton that has been poured upon the stree
for week past. Fractional recessons du
to profit realizing sales were common il
the final dealings, but the undertone OF tn
market was still very firm.