The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-04-20
THE MARKETS.
Wall Street Review.

BY Associated Press.
New York, April 19.--There is a certain
contingent of stock exchange spectators
who base their Sentures on the tendency
of prices displayed at the immediate
opening of the market. Today's initial
trading gave promise Of an active and
stron. market and these symptoms ac-
Cordlngly induced some outside orders
but there was u development of weakness
in the afternoon. Interest ran mainly to
railway stocks and some of the inactive
issues rnCame prominent, particularly
Great Northern preferred, St. Paul and
Duluth and Wheeling and Lake Erie The
afternoons weakness could be directly
traCeable to a brisk selling movement in
mentum subsequently through liberal
offerings of the Grangers on late re-
ports OF crop damage. This statement
rise IN wheat with the shorts covering
heavily. The late break entirely eradi-
Gated the gains in the railways and put
many of the Specialties considerably be-
low last nights close, Brooklyn Tran
sit Manhattan and Tennessee Coal and
iron yielded the most readily. Pro-
nounced strength was displayed in Colo
rado Fuel and Iron shares which re-
tanned advances of over ) points in the
common and preferred on rumors of i'm
pending favorable developments. Ef-
forts to harmonize the conflicting inter-
ests in the anthracite coal trade and the
adoption of Il schedule of prices for the
spring caused sharp advance in these
StOCkS, NElCn moved counter to the gen.
eral market at the close. The market
ended irregular with the railway list little
changed. Total sales, j75 100 shares. Good
support was, extended to bond market
ana some substantial gains occurred on
an active demand. Total sales, si,llOoOO.
United States 3s coupon. new 4s regis
tered and old is do advanced 4 in the
bid price.
BY Darlington & Cusack.
New York, April 19.-Thc market opened
strong at fractional advance over last
nights close with heavy buying in the
Changers and some of the speciaties.
burlington, Rock Island and St Paul
were the features at the opening. the
iirst named advancing to 1i6 on quite
heavy inside buying. 1t is rumored that
Mr heene, who has been supposedly
short has changed his position and is
working ON the long side of the stocks. in
the wheat cgDp. The action of the mar
ket in Chicago does not indicate such IA
condition; both the July and May OPP
tionS being particularly strong
During the afternoon the stock market
showed evidence of liquidation at the
high prices, and there was a general re-
Gession OF values from the top. The mar
ket seems to have narrowed somewhat
and has not that snap which character
lied 1t last week; at the same time,
there Is nothing in the situation to war
rant lower prices and we think on any
weak spots IL is still a great purchase:
1t will not do to buy. however on any
strong advance, as there is a very de-
cided bearish contingent that Will take
advantage of any duh spot to sell prices
off. We think that Continental Tobacco,
Tin Plate, especially the latter can be
bought with safety around the present
prices for much higher figures Burline-
ton anywheres around III is an almost
sure purchase for or per cent
The Crum bill which passed the senate
yesterday and which empowers the saw
lngS banks of the city of New York TO
invest In railroad bonds of compar!es
with lines without the state. should be a
particular feature to. the Chicago, Bur
irgton and Quincy railroad; the direc-
tors are considering rcfunding scheme
and the opening up Of such a large in
NeStment line, is sure to he of value TO
that company. The St. Paul earnings
| have had Il very good effect on Spccula-
| tion and the stock should sell at higher
! liSures on this condition. Wabash pre-
terrcd, Missouri, Kansas and Texas nre-
i"rred and Missouri Pacifs will ulti-
mat"ly sell at very much higher figures
| The close was irregular at some decline
from best prices Of the day.
quotations furnished by LABAR Il
! FULLER, stock, grain and cotton prok-
sfs, rooms 2O9 and PIC Board OF Trace
| building, Scranton