The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-04-13
THE MARKETS.
Wall Street Review.

New York, April 12.-There was a wild
rush to buy at the opening and the spe-
cialties made large gains, part of which
they retained while the railways which
had improved smartly left off at about
yesterdays figures. The rise of Amer
leans in London before the opening and
the momentum Of yesterdays advance
were responsible for the early excitement
in the market. Call money ranged from
4 TO 8, closing at the lower figure and
sterling exchange was strong throughout
demand sterling rising n. The rapidity
OF the early advance induced heavy real
izations but general tone of strength
prevailed until the afternoon when some
sharp recessions occurred. The killing
of American and English navy officers
IN Samoa seemed to arouse apprehension
in some quarters of further compllca-
tions. Among the specialties strong fea-
lures were Brooklyn Rapid Transit Com
solidated Gas, Peoples Gas, Sugar and
the iron and steel shares. Baltimore and
Ohio issues, Norfolk and Western pre-
ferred and Northern Pacific were strong.
toreign houses were early purchasers
but resold about half as much on the
lical rose. Some of the foreign purchas-
ing was connected with London's fort
nightly settlement. A number of shorts
were driven to cover early owing to the
commission house demand especially for
lndustrials because of a more liberal po-
itison taken by number of banks toward
such stock. The market closed steady.
Total sales were $4,000 shares. There
was more activity In railroad mortgages
today and while a few issues were shaded
the general average was slightly better
on the day. Total sales were s3,75OOOO.
BY Darlington G. Cusack.
New York, April 12-"rhe Flowers
that are booming this spring ira la" GER
tainly got of a great bloom this morn
ing, and opened the market with a
''whOop" and bang" Brooklyn Rapid
Transit, Federal steel common and pre-
tcrred, the Changers, Ndnderbilts and
CONTINENTAL Tobacco, all opened higher
and with large transactions during tho
After the execution of opening orders
the market became somewhat dun and
although it held out strongly up to the
latter part Of the day. did not advance
materially. The surface indications point
to heavy covering by shorts and to
some renewed buying by commission
houses. Whether the rally is going to
last is more than We are ready 10 say at
present
The market will certainly be a trading
one for some time. The bullish possibil-
tiles certainly far outweigh the bearish
conditions but the street has had Sc
we're shake up and whether it is possible
for the rose to continue just at the mo-
ment We are a little doubtful about. The
market naturally made a heavy short in
terest and possibly some of it still re-
mains.
At the same time. the temptation to
Hquidate in certain securities by buy
ers of the low price must be very strong,
and we are inclined to advise purchases
only on weak spcts. The news of the day
was OF negative character with the eX-
Ception of the Samoa scrap which may
| or may not affect prices. 1t depends a
good deal as to what attitude Germany
assumes in regard to the matter,
The probabilities are they will deny
all knowledge or participation and that
the incident will be dlplC atically closed
without further trouble. The dealings
in the late afternoon reflected the late
liquidation of early buyers and the mar
ket sold off quite freely in some cases.
Quotations furnished by LABAR &
| FELLlR stock, grain and cotton urok-
ers rooms 200 and PIC Board of Trade
| building, Scranton, Pa