The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-03-18
THE MARKETS.
Wall Street Review.

New York, March 17.--The railways
after a display of strength in SYM
pathy with the buoyancy in Sugar,
sagged in anticipation of February net
returns not meeting expectations, and
the result was marked net declines IN
these properties. A number OF the ac-
tive specialties moved upward but
some Of the green" idustrials were
executions, including Federal steel,
American Steel and Wire, Continental
''Chacco and International Paper.
These properties suffered because Of
the diversion of interest from them TO
Sugar. Sugar. which at one time was
within Pa points of it's record figure
yesterday, scored a net advance of D
points. Glucose was up sympathetic
ally. The aggregate of dealings, while
below those of yesterday, exceed three
quarters of a million shares. of which
900 were sugar. The fact that the
banks have lost over $4,000. 900 to the
sub-treasury since Friday led traders
to expect an unfavorable bank state
ment tomorrow, and on this theory
they sold stocks. Among the stocks
showing strength were Peoples Gas,
Tennessee Coal and Iron, Colorado
Fuel and Iron, Metropolitan Street
Railway Brooklyn Transit and Man
haitian, which was quoted ex-dividend
| and eX-rights. Total sales today were
| 1862 400 shares. There was some liquida-
| tion among the active bond issues to-
day while strength prevailed in other
! quarters. Total sales, $2,3j000O Unit
ed states new As coupon advanced Is,
do. registered a, and the old As regis
! tered and the threes 4 in the bid price.
! Ry ]. r. L. Darlington & Co
| New York March 17th.-The market
| opened excited ana higher with Sugar
| again the principal feature, the stock
! varying two points at opening sale. Dur
| ing early part of the day Peoples Gas
! and Brooklyn Rapid Transit with Bur
| lington and quincy and Grangers general
! ~ were the leading features. There was
| some evidence of realization on the ad
, vance but the market on the main was
! very strong and considering the cOiidi'
| lions, wonderfully well supported The
! late movement in Sugar spurted the whole
| market and according to popular belief
! IS likely to lead to free bull speculation
/ in tho spccialtios. The advance was en-.
! ;iTcly unexpected even by the leaders and
! il looks as If il were possible that the
! rise which has been predicted rs likely
to como next month had shown up II
advance.
a continuance of the movement and to
day has been in evidence somewhat. BanI
| statement tomorrow is liable to be
| critical point in the market: IL it is any
| way favorable 1t is likely We shall have
| a further advance next week. If IL is haC
1t will hc followed by a very sharp de
cline as tho short interests In the markc
| has practically eliminated. AS we point
! ed out several days ago, the stocks avail
able for sales are very small and an,
pronounced movement ON the bear side
is sure to be followed by very sharp anC
quick rallies.
For that reason we do not advise sale
except on very strong upward move
ment ana then merely for turn. ON al
weak spots we advise purchase Of Fed
cral Steel common, Manhattan Railway
| Tin Plate, American Steel and Wire
COalerS and Changers Union Pacific
while it may be slow is n sure purchas
| around - for very much higher figure
If held, In. the late afternoon, the mar
ket sold off somewhat owing to liquida
tiOn by early buyers aud temporaril
higher rates for money. Manhattan a
we advised YOU the other day, had
| sharp rally yesterday and maintained II
advance today. The stock is worth moth
ing like it's present price but may b
held strong in the market temporarily
1t is a great sale, however, on any VI
lNard movement In connection with tn
rise in Sugar we have the very best rea
sons for saying that We believe the stor
| which has been published as to a com
hination of all the interests is PRACTICAL
correct, although no public announce
ment of the fact is likely ut this time
Market closed steady. Total sales, 767, IA
Bonds, S25il0O0.
Quotations furnished by LABAR
FULLER, stock, grain and cotton brOk
| crS, romS 2D9 and 2lO, Board Of Trad
building, Scranton. Pa.