The sun., 1899-02-19
Y1xAxcrAn AND CoMMERorAL.
sLrunpAY. Fob. 1s.

For the first time In many years Wall street
Nyns treated 10 a sensation to-day that was
suggestive Of corner. After remaining
dormant and rather heavy for several
weeks the stock OF tho American Tobacco
Company after further decline yester-
day morning. began 10 show signs OF life.
and the net result OF yesterdays trading was
an advance OF points. This morning tho
stock opened ~ points higher than IL closed
yesterday. at 141, and during the two
hours OF business a further advance. to
1863. took place. At recession OF only
points from the highest price the stock closed
17K points higher than yesterday. The move
ment was naturally accompanied by ru-
mors that the two antagonistio interests
Iin the tobacco manufacturing industry,
namely the American and Continental
companies on the one hand and the Union
Tobacco Company and LlRRett & Meyers
of St Louis on the other. had come to nm
agreement. These reports could not be con-
Armed in fact. were denied in several quarters
in VIII ich authoritative information was sought.
The REVEALING i'm preston In the Street is that
the bi tier fight between the interests mem
toned above has resulted in the creation OF an
unwielGy short interest In American Tobacco.
which is the only security based upon
the industry for which there is an ac-
tive m Rrket and that this interest, for
some reason or other. felt constrained to
close it's short contracts to-day. 1t romans to
be seen whether the market for the stock was
heavily oversod or whether substantial devel-
opments warranted n change in the speculative
postion OF certain very influential interests.
After detIucting the dealings in American To-
bacco from the total transactions there remain
sales OF ovar half million stocks distributed
through tho remainder OF tho list The largest
contribution 10 this last named total was
made by st. Paul. which on sales OF over
$4,000 shares closed nearly two points higher
than yesterday. Other features were GLIB ana
Quincy which sold at the highest price re-
corded for It: Rock Island. Atchison preferred.
Central Pacific Reading first preferred. Peo-
ple's Gas. Manhattan Railway. Southern Paci-
dc and Northern Pacific common. In the early
dealings all Of these stocks. and. in fact
noarly the entire list. made progress toward n
higher level: but the opening of the market
was so wild in certain stocks that both pro- !
fessional operators and traders. through COM
mission houses. hastened to take profits. Sell.
ang was also induced in the last half hour OF busi-
ness by the further increase Of over SS5OO.OOO
in the average loans of the Associated Banks
There was also the usual realizing Of profits
Incidental to the end of the week. In conse-
uuence the market "a whole must be de-
acribed as irregular. In many cases tho early
improvement was more than wiped out. The
majority OF the list. however, Notwithstanding
The final recession, closed higher than yester-
day.
The weekly statement OF averages OF the As
gociated hanks shows an increase in lawful
money OF 81 .14O. 600 all OF it in specie. which
presumably came from the Pacific coast
IN time to more than offset the shipment
of two and n half millions OF legal tenders to
the interior. The increase in loans and In law
full money make the deposits over S9,OOO.OOO
larger than last week. The net result reduces
the surplus reserve over million dollars. to
&34 4.373.S25.
As compared with the final prices OF Friday.
Feb. TO- the majority of stocks are higher.
The more important net advances are in
American Tobacco. 1S1S p cent: Burlington
and Quincy. Tx: Metropolitan Street
Railway. 1Ok; st. Paul. 81; American
Sugar Refining. Ak: Central Pacific. 81
Northern Pacific preferred. 3a.: Read
ing first preferred. 81: Rock Island.
each: n. Y. Central. 27s Atchison preferred
and Northern Pacific. 2'S each; Brooklyn kapid
Transit and Peoples Gas. each: Federal Steel
preferred Union Pacific and U. 8. Rubber II
each; Atchison and Southern Pacific. Ia each;
Missouri Pacific. ~: American Steel
and Wire. 11S Union Pacific preferred. ":
Tennessee Coal and Iron. X: Cleveland.
Cincinnati. Chicago and st. Louis. : Southern
Railway preferred and Texas Pacific. u each
st. LousISouthwestern preferred. q. and Louis
yille and Nashville. = a cent. The noteworthy
declines are in Pacific Mail = q cent. Man
haitian Railway. =: Bay State Gas and Consol-
dated Gas. X p cent each,
Now York Stock Exchange-Sales Fob, l9,