The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-04-06
THE MARKETS.
Wall Street Review.
by Associated Press.

BY Associated Press.
New York, April 5.-The stock market
was very irregular today, violent fiuc-
tuations being frequent Sharp recessions
appeared carly. The market rallied with
a burst of strength in the railways In the
nope OF favorable crCp report. A sem
sational rise occurred in call money, as
high as 16 per cent being exacted for
loans on Industrial collateral and later
10 per cent was reached even on railways.
Extensive liquidation followed the APP
pearance of the highest money rate so far
this season. There were many breaks of
from to points from the highest quo
tations of the day but stocks recovered
on covering and per cent. money at the
close leaving the list slightly above yes
terdays figures, with the tone steady; ;
Manhattan receded over 2 points and
Third Avenue 5. Brooklyn Transit and
American Steel and Wire were lifted over
points each. A rise of 3la points I'm Mex
iCan Central on enormous dealings was
said to relate to a plan to re-distrbute
the capital but nothing definite came for
ward. Much of the buying of this stock
was said to come from Boston. Mexican
National had sympathetic rise of over
n point. The talk of favorable business
prospects of Wabash lifted the preferred
stock 2 substantial fraction on large deal
nEs. Total sales were S75.421 shares. Con-
siderable activity and strength was dis
played In some sections of the bond mar
Total sales, $3 79O,OoO. United States new
~ uecilleu 1s IN the hld price
by Darlington & Cusack.
New York April 5.--The market. con
trary TO expectations after an opening
sligtly below closing prices rallied and
showed considerable strength during the
morning hours. Manhattan and Brook
lyn Rapid Transit were both weak in the
opening dealings but both recovered to
about closing prices of last night or
above. The features of the dealings up to
hA "a lNy,VN To-, h., Il
ties, including Rubber common, Mexican
Central Leather preferred and Continen-
tai Tobacco. Around o'clock heavy
covering movement was engineered
against the shorts in the Changers which
jumped from to per cent. Buying was
mostly confined to traders who had sold
in the early part of the day on Rock ISL
and $ poor showing for March. New York
Central and Union Pacific were both well
bought by inside interests and advanced
fraCtiOnally. The general market showed
the effects Of the heavy realizing and
while strong was very erratic in its move
mentS. 1t looks to us rs if for the pres
ent we should have turns both up and
down. Money still continues somewhat
close and the discrimination by the banks
against industrial collateral has effected
the speculation in the shares. The Fed
eral Steel issues were inclined to be soft,
while American Steel and Wire after a
weak opening turned strong and ad-
vanced per cent Tin Plate is holding
its recent rise and unless bad news de-
VelOpS is liable to sell much higher Met
ropOlitan had a sharp decline in the early
dealings but recovered most of the loss.
Conservative houses in the street all ad-
Nising against heavy commitments on
long side at moment advising purchases
only on soft spots. The market has been
very heavily overbOught and it is possi-
bhe any severe decline will bring out
weak stocks. The market towards close
sold off rapidly on liquidation by early
buyers and renewed selling by traders
who were all working for lower prices.
We think ourselves the market a sale on
sharp rallies and q purchase when par
tiCularly weak. The close was irregular
and weak, in some cases nearly at lowest
prices of the day.
Quotations furnished by LABAR &