The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-03-20
THE MARKETS.
Wall Street Review.


New York. March 1S-The change IN
stock prices compared with yesterday was
very narrow. In the early trading prices
drifted downward. Interest very largely
centered in Sugar again today and the
stock closed within a fraction of the
hundred point--172lh-yest closing
bein 1914. There were declines of from
fractions to per cent. in Tobacco and
some of the new industrials, including
Continental Tobacco, American Tin Plate
and American Steel and Wire. The rail-
ways left off practically on parity with
yesterdays closing. The market closed
strong and active Total sales were 26l,-
$40 shares. Business i'm bonds decreased
during the week with the market show
ing a, yielding tendency. United States
3s, old As registered and new As coupon
advanced ss, and do. registered, the 5s
and old As coupon "a in bid price.
BY J. r. L. Darlington & Co.
New York. March 1S.-Thls week has in
some respects been most remarkable
one of all the year of remarkable markets
in the street. During the early part of
the week the market was dull and inclined
to weakness, owing to the stringency in
money due to heavy payments to the gov
ernment on account of the Central Pacific
notes and to the financing of Alton sale.
Up to Thursday the market showed slight
evidence of any real movement being
likely. On that day, however the whole
list was favoraby affected by a remark
able rise in Sugar stocks which carried
strengthened industrials and railroad Sc
curtties. Short interest was heavily
whipped all along. the line, ana the last
days of the week saw an active and
strong market. Aside from the gyrations
of Sugar there was no real news to have
affected any change. Money which has
been the bugaboo for the last three
weeks was again the main feature in the
speculation. Several times during the
week, call Loans were made at per cent.
and there was good deal of disCrimina-
nf lfD Hat Nl,g,N
lation was held i'm check. The banks have
made heavy disbursements for govern
ment account and there seems a prob
ability there will be a certain amount of
to come. Aside from this, there is no real
change In the situation since the pre-
vious weeks ending.
The business situa tion of the country
! continues to be exceptional. The weeks
| c1earings show a gain of 37.6 per cent
over 1899 and 27.1 per cent. over last year
Without regard to details, however the
| volume of business in all branches is the
| greatest ever known. The railroad earn
| ings show very small material changes
| there being a slight increase over last
| year due to the good weather of the
! early weeks of the month The tonnage
| movement from Chicago. however. shows
decrease over last year with a slight
| increase over 1872. One significant feature
| in the situation is that exports which ha 20
| been so much of feature during ~.
| last two years are beginning to shov.
! the changes are small up to present e.
| the fact that the current seems to h.
| in the other way must not be lost sCh
| Of Our balance of trade which has been
| the main cause of the wonderful revival
! in the business situation shows some de-
plction during the month and a continu-
| ance of it will reverse our position as re-
! CARDS the nations of the world. While
| this is but straw which shows how the
| wind may blow. yet il is Just such a small
| indication as this that must be taken up
| and together with others of the like char
| acter to enable AT moment of any mate
| rial setback, and while we think our
| selves the continuance of an upward
| movement in the value of securities is
| likely yet in the end a point must be
! reached where the tide will be at its fun.
| To determine this point the situation at
| large must be taken into account for that
| reason we advise the greatest care in both
| Investment and speculative movements.
| The present year will undoubtedly see
| very high prices for SpeCialties and in
| dustrial stocks and the speculation in
them will undoubtedly be a feature of the
| market during spring and summer
months. We are of the opinion therefore
that the stocks to purchase are the low
priced common stocks of the industrial
corporations and railroads of special geo.
| graphical position which must appre-
| ciate in value from the great increase
| in the volume of business. The day $
| market was irregular up to the bank
! statement which being better than eX-
| pected. closed the market strong. Total
sales, S5l,Si2, Bonds, $2,240000.
Quotations furnished by LABAR &
| FULLER, stock, grain and cotton brok-
ers, roms 209 and 2l0, Board of Trade
| building Scranton, Pa.