The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-03-26
FINANCIAL AND COMMERCIAL
SATtrnNT. March -.

trlbution Of business wa> Din i".. in 4 iung
time. in spite ri tn" Tat 'i.' BROOKLYN I;.Iil
Transit supplied ,"arI 1"-ntth u. tn" t"ta,
transactions. While a = iIruto' the nUvt' Z
was 10 cover shorts. 'h". was anHis-
taxable evidence o. - ~'''ival 81 public
interest IN securities li-'"l 90 IN" stu.k
Exchange. A. WA 'H' rus, va-irI.
day. the heaviest trad NJ Wa it, i.'lway
shares. Still. the Indu-trn's. uutnIly Federal
Steel cOminou, Irnp"'s tn- AID Continental
Tobacco. were tot "u'ir.'y neglected.. The
frst two were cNrcitIoun!N strong. lu' I"n-
tinentsl Tobacco. ~ Tor -, me- time It-t. was
heavy. presumably because ri The possibility
that now eto"k may h." j. urd 10 acGu.r' he
plug tobacco manuinrtL." ~ Htjsil"s- that the
American T"tM"ru r%"rranv has secured Nv
purchasing the Uuior Tobacco COMPANY aud
which II il Known will h." turned over to the
Continental Company. The enthusiasm Of the
friends of Brooklyn Rarti Transit appears to
be boundlcs-. \ further net advance of a.
points TO-DAY 'oli"wr! In" announcement
that the Brooklyn larid Transit Company
has secured .vactrrnI,y all Of tho local
Transportation facilities in Kings county.
Other local traction stocks were very strong.
Metropolitan Street Railway scoring II net
advance OF ~ points ard Manhattan Railway
selling at the hiG hest p-inr recorded Tor IL since
the proposed new issue ~ stock was an
nounced. Other strong features were Atchi-
son preferred. Chicago. Burlington and
Quincy. New York Central. Union Pacific is-
sues. Southern Railway preferred. Chicago and
Terminal issues and Chicago Great Western.
The weekly statement OF averages Of the As
ISOLATED Banks made a much better showing
than had been expected. and il was oven better
than the speculative community suspected.
for the reason that nearly 81 millions Of the
increase in loans result from the appearance
in the statement this week Of the returns
Of the Aston Bank for tho first time. The
remaining two millions is easily accounted
for by the activity in general business as
reflected in the larger bank clearances Of the
country for the week. The most obviously IA
vorable item in the statement is the increase of
S333. 900 in lawful money. This is the first time
the banks have shown a gain in cash in many
weeks. Thcincrease in liabilities to depositors
ia not as large asst should be by about 5000
600. The net result reduces the sur
plus reserve only $4,000. The statement
Soreshadows a comfortable money market
during the coming week. although two or three
Industrial consolidation ayments aggregating
several million dollars each will he made dur
ing the next four business days. As long as
money OH call rules at about 4 r cent, the
money thus aggregated. like recent similar
payments. will remain with the city banks. as
the interior institutions. which are the natural
destinations Of a large part Of it. can employ it
to better advantage here than they can
locally. The indications are that. as for several
years past. the usual April | payments through
out tho country will cause little or no disturb
ance at this centre. Those payments will he
made with oven greater ease than heretofore.
because the interior banks are strong in cash.
partly in consequence of the industrial COM
binations that have been formed during tho
winter and also because OF the general pros
perity OF tn" country.
The trade reports for the week are again full
OF encouragement. though il is to be- noted
that the severe weather has restricted the dis
tribution Of merchandise in soTe sections.
The strongest evidence OF business prosperity
is found in the statistics regarding the recent
increase in wages in nearly every industry
and throughout the country. which was repro
duce6 n THE sun this morning, In the stock
market the publication OF the bank statement
was followed by an eager buying movement
that carried prices to the best figures of the
day and week. except for a few issues. which
have been affected by specific causes.
IS compared with the final prices Of last Sat
urday. the majority OF stocks are higher. The
more important net advances are in Brooklyn
Rapid Transit. IL = cent: L~ackawanna. 81;
New Jersey Central. Ia; Manhattan Rail-
way. A.: PEOPLES Gas. A.; Now York
Central. AZ: American Steel and Wire.
~ DuTilusuoH dhu Suiucy' 'A' 81 ouiS
Southwestern preferred. 81: Atchison pre-
ferred. st. Paul. Delaware and Hudson and
Southern Railway preferred. 3 each Union Pa
cihc common and preferred. 2H each Federal
Steel. %; Reading first preferred. 2E; Rock
Island. ~; Louisville and Nashville. "a:
Reading second preferred. 2.: Northern
Pacific. 2: Tennessee Coal and Iron. IL:
Reading. ~: Atchison. Ii: Ontario and
Western. ~: General Electric. IL: Southern
Pacific. IL; American Steel and Wire preferred
and Metropolitan Street Railway. l each: Fed |
eral Steel preferred and Pennsylvania Rail-
road. = p cent. each. The noteworthy de-
elines are In Consolidated Gas. 11L p cent: |
American Sugar Refining. II Continental To- |
bacco. ~, and American Tobacco. z p cent.
New York Stock E1chanKe-sales March rs.
UNITED STATES AND STATE BONDS I'm 81. OOOsl.
Us c.....los 100 Var deb 2.3s
100 q 8 Is.c. 1925l2o of199l....... S3k
CLOSING PRICES OF UNITED STATES BONDS.
Bid. Asksd.j Bid. Asked.
IN st2s.r. On st%s.r.
.t,lo Sa ook - 1ooh 100 ,ooL