New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-02-26
finanrial
The Financial World.

! The difference between the market now 49,,
I what II was In January. Is that everything VA.
up at the same time then; and now. one par, :,
/ the market remains dull or declines whus ..
other advances. In the January mako, a..
/ brokers on the floor Of the Exchange vera :"
/ excited. jostllng crowd filling the whole roor..
but now, while you here or there get engul,.,
! in a whirlpool Of struggling men. there a..
spaces between the crowds where little or no,,
| ing is being done. This physical fact ia .
! nected in the daily record OF transactions
/ The market had one or two little chnls throp.,
/ the week one was given by Dewey's despa,c,
| calling for the Oregon for political reasons
! despatch which II is surprising the Department,
made public until 1t could know more exac,,v
! what was meant by political reasons Ano,,a.
was given by yesterdays bank statenen, wh,,.
I II was rumored on Friday would be bad r..
bad features. the traders considered ,hsr
were the further increase in the loans and N.
decrease in the surplus reserve But the A.
posts grow at the fastest pace Of all and M,
amount to the enormous sum Of S9i0VONo
Trust company money, also il always on IA,
in any amount wanted. apparently. and 80 "a,
there are no signs visible Of any trouble what.
ever in the direction Of the money market
There was a speedy rally after the staten.,,
appeared, II having been discounted by preyjou,
decline. Burlington led the way This sroc,
had quite n drop when it was announced n,
Thursday that the anticipated refunding opers.
tion a small affair. instead n the compr.
hensive scheme talked of. W are ASSURED
however. by people who follow Burlington affair,
most osely. that this is cnly a small prelimlnarv
operation. and that n vil' he followed later hy
the big scheme. and that the latter will he -
considerable benefit 10 the stockholders Cal.
culations as 10 the value ~ the pre2ent PROPOSE
ton. make 1t equal 10 about ~ per cont IN tn.
stock: which. as one investor stated H. make,
Burlington per cent stock for the next Az.
years. during which time the other refundhr
operations will he carried out That Is one var
Of looking at the matter. Anyway, it may b.
said that some Of the wealthiest capitalists in
the country are content 10 hold their Burlington
on the outlook for the future.
What was az frst supposed 70 be merely ,
squeeze Of the short interest in Tobacco s,.
roneously supposed by the Street 10 he very
large) turns out 10 be buying m The deal 70
unite all opposing interests. The opposition tr
alleged opposition concern. the Union Tobacco
Company. having bought number Of plants
which the American Company had been unable
to secure including the Ligget e. Meyers Is nov
To he united with the American Company Some
very wild rumors have been current about the
people who were caught short Of Tobacco and
the names Of Mr.. Thomas Ryan, General
Thomas and Mr.. Keene. were freely used Ac.
cording to the statement Of an insider In The
American Company. the short interest in the
stock did not amount all told to over 40oo
shares and IL was very scattered. He declared
that no big man had been caught. This ar
cords with certain other facts. Propositions had
! been made TO Mr.. Keene 10 join in bear cam
palgn on American Tobacco but he had declined
on the ground that concentrated AS that stock
was such a campaign would be likely TO result
| in more fight than profit. The people who made
the propositions do not seem To have done any
thing themselves after his refusal The chances
are that no one man in Wall Street was shor.
/ 1000 shares when the deal TO unite all in
terests was started.
Steel Wire stocks have been very actTe
through the week. and unless something mssAs
+ they will be still more active the coming WEI
The common stock was 10 last Saturday, Sa
Yesterday it was up to 81, closing at W Some
very important people have been the buyers u
must be borne in mind that Alr. Gates Chair
man Of the Board Of Directors. has stated EN-
/ phatically that the business of the company
iustiies the payment of a dividend on the con-
mon stock in July As TO the preferred we
consider that as good as bond. When atten-
ton was first directed to the Steel Wire STOCKS
/ in this column. some statements were maze ION
authority Of the compdny's officers as 10 'ns
number Of miles of wire in certain orders y
ceived They were 50 large as 10 excite ~
credulity \ personal letter addressed TO IT.
Gates at Chicago. asking for figures orous''
the following reply
DEAR SIR For your personal information w
that in the year .sgS the American steel AMI VIE '-
parv made II Vol miles Of patent woven wire in's
We expect {, make during 1899. $500 miles Inc N
many owns all the patents under which .is woven W.
fencing j. made. and the profit from tAs ore "'"'.
the bus meas Will the wear 1899. b" an enormous -
tor The American steel 4 Wire Compsrs has an ~s
lutte monopoly Z this business. and can ship us 60
ANYWHERE in the world at very handsome marsa
profit. j. W. "NIEH' '"'
It may he explained that as the units OF meas,
urement in the wire business are tons VI ~
pounds. It is quite a calculation to turn tns''
into miles The letter above refers ony 70 ~.
product There are 1000 different kinds OF WIZ
made from finest to heaviest II is roughly CO.
culated that all the mills draw OF these se'e,N
thousand kinds. an average OF oo"V "'''
daily.
The new issues OF Central PaClHc Vo"Ns -,
probably afford good opportunity for pron'A'"
purchase III.
The coal stocks arc prominent IN the sF'Sa
ton and likely to become more 50. lhe' v"
have their rallies and rccessions with ths ~
eral market but they ought 10 creep up ms NE.
after every decline not only because ="
growing Improvement in ne anthracite -.
but because of the efforts being Hla''
which promise success to regulate the "a
II has never been done before. II IooAS
some OF the big men on the inside were O. g..
satisfied that the new deal was prac"NaE
complished The large buying OF Oh'".
Western, which has been specially Viso''V -,
London seems 10 have close relation ~.
The Reading issues should sell higher, ana ~
ware & Hudson above 40. -,
The Flower stocks have been out 81 ID. f.
ming The Governor is away at Natero"
ternational Paper has been made rFe ~