The times., 1899-03-21

ueciiHeu 10 oV Ia, Stlii showing good net
gain Northwest nearly touched $50 again
and closed at 14S 1-2. with a net gain of
nearly two points over Sunday This
group OF stocks. on the whole acted bet
ter than anything else on the list
A gentleman generally well informed as
to Pennsylvania Railway affairs is author
ity for the statement that negotiations are
now far advanced for combination be-
tween the Pennsylvania and Burlington
Ihis gentleman stated yesterday that un-
doubtedly there will be some close alliance
OF interests effected, and that within a
Few weeks an announcement to this effect
VIII be made. Nothing corroborstive OF
the story can be obtained from officers of
the railroads, but the tip is worth watch
ing closely. nevertheless. The stocks OF
both roads We're fairly strong early in the
day yesterday, but their later movements
were not suggestive of great strength.
however, 1t is thought by the Street that
both may he bought with fair margins
at the level of the close with impunity.
The granger stocks yesterday were. on
the whole, strong, as has been stated
heretofore. although during the afternoon
weakness Of the general list there was
some realizing in them. Atchison went
above 81 at the opening. but closed only
traction above the close of Saturday. St
faui opened at 12S 1-2, but declined dur
ing the day. Rock Island acted in a sim
iIar way. 1t is believed by the Street
that Rock Island and ST. Paul. especially.
may have some advance Immediately, ow-
ing 10 the fact that they sell "ex-div-
idend in short time. Atchison seems
good buy between 60 and 61
Tennessee Coal and Iron was very strong
reaching SO "a and closing at 50 SIS, or
well above the highest level of last week
The movement in this stock for several
days has been engineered In fine way
apparently by insiders, but it is not known
what the outcome is to be. The gossip
OF the street connects the company with
Federal Steel in some combination of in
ferests, and the persistent way In which
the stock has advanced this month de-
spite the attacks by the bears, suggests
that there may be some foundation for this
talk. At any rate. Coal and Iron is now
at higher price than has been attained
by ii before since 1887. when it reached 54
and fraction. II is safe to say also that
II is higher than most people ever ex-
pected to see it again.
The coalers were strong yesterday. and
at times buoyant. The suggestion made
heretofore in this column that the Reading
securities, and Ontario and Western espe-
cially, will soon have good advances, seems
likely to be borne out this week The
coal-road combination is fact and no
longer theory.
Yesterdays local stock market was an
Interesting one, although the amount OF
business was not large. Prices generally
advanced and large number OF stocks
were dealt in. The activity and good
prices in certain stocks revived several of
the rumors recently current regarding
deals of various kinds.
The Metropolitan and the Columbia rail-
way stocks were quoted at about the
prices of last Saturday, but no sales were
made. The street generally now expresses
little doubt that the deal for the sale of
the roads to the Crosby syndicate has been
completed as was stated in The Times last
week. The continued activity of Gas at
the present high prices has made many
people believe that this company also is
TO be bought up by the syndicate. There
are excellent reasons for doubling this In
this connection ii is interesting to note
that Mr. Crosby fatty denies that his syn
dicate had anything to do with the pur-
chase last week of the old ball park at the
corner of and North Capitol streets.
The steady advance of City and Suburban
stock, which sold yesterday for As, may be
considered good evidence OF the faith
of the street in the syndicate and its plans.
Columbia Title Insurance stock sold
yesterday for 5 Ia. Real Estate Title is
strong in the recent bid and asked prices.