The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-26
Centrars Good Faith in the
Albany Lease
Notes.

The Wall street stock market was
generally heavy yesterday, although
several strong spots were noted. The
traders sold on the prospect of an un-
favorable bank statement today.
London sold about 25,00O shares in
Wall street at the opening. The sugar
trade war, likewise. materially assisted
the bears, and the announcement that
the Doschers had decided to do away
with rebates in the future, which
makes their current price &c below the
Arbuelzles', and 74c below the trust.
confirmed the opinion that the sugar
war was still on. A statement that
$1,50o,00O Reading four per cent bonds
had been sold privately, at about cur
rent market prices, this week. made a
good impression.
London sent lower prices yesterday
morning, and this influence was appar-
ent at the opening in Wall street. Frac-
tlonal declines were the rule in the
1ead1ng railroad stocks, but a number
OF minor stocks showed fraction /
gains, and there were advances in one
or Two specialties Tobacco rose ~
while Sugar lost as much Profit taking
IN American Tobacco immediately
wiped out the opening rise. Elsewhere
movements We're towards a higher
plane. Consolidated Gas jumped six
points, while the advance in the general
run or railway stocks was slight. Sharp
gains occurred in spots, notably st.
Paul & Duluth, Wisconsin Central IRE
ferred, Duluth, South Shore & Atlantic
preferred, and Kansas & Texas
preferred: the former bounded IN foir
points, to So Most of the trading was
in the Pacif1es and leading specialties.
sugar recovered a point, and BROOKLYN
transit ruled as much above last night,
Renewed efforts to break the general
market were instituted after the first
hour Sugar was selected as the most
Vulnerable point and was forced down
over three points from Thursday
nights level. American Tobacco and
consolidated Gas dropped about three
points from the best, while the Flower
speeialties and a number of others lost
one or two points. Dizziness set in when
the movement exhausted, and later the
market was inclined to harden. The
rally OF point or over in the special-
ties, on short covering, was followed by
strong upward movement of IL in
Union Pacific preferred on heavy buy-
ing. There We're gains Of point or over
IN the Cleveland, Lorraine & Wheeling
stocks and Minneapolis, st. Paul &
Sault Ste. Marie preferred, and of 21b in
Brooklyn Union Gas. Tennessee Coal
touched 96. Kansas City Pittsburer q
Gulf and Pacific Coast dropped ~ each,
The Boston stock market was active
but prices were irregular East Boston
was a prominent feature, selling IN 49,
to los on the prospects of the lease Of
the Boston & Albany to the New York
central gong through. Overtures nave
been made recently by several inter
ests in the matter Of land purchase for
the enlarged terminal facilities conten.
plated for this port by the Vanderbilts
provided the Boston & Albany lease is
ratified Later the stock reacted to 9L
Boston & Albany sold up points, t.
2I3, reacting to 270 on prospects of :
compromise with the protective com.
mittee. 1t is said that stockholders were
&verse to selling their stock at stipu.
mted price, as they do not wish theiI
investment disturbed. On the Other
hand there is a feeling that the Massa.
chusetts Legislature would not grant &
lease above 3 per cent. 1t was officially
announced that the New York Contra
to meet the criticism that it might striI
the Boston a. Albany and take and use
all it's earnings, has offered to insert il
the lease clause providing that it shall
not take any of the earnings of the Bos.
ton & Albany system to itself, unless
and until it shall have paid over to the
Boston g. Albany stockholders for theil
use another $4,000, 900. Proper provisions
and safeguards also will be made con.
corning rate divisions, accounting. and
inspection Of accounts by Boston &
Albany directors
Santa Ysabel advanced /, to 14%, but
lost the fraction on buying by brokers
said to represent the management
There is talk of improved conditions al
the mine. The activity in Erie Tele-
phone was accompanied by rumors OF
an tncrease in the dividend rate to /
per cent 1t sold at 101A this morn
ing, or II lower than yesterday. Re
newed activity In the Massachusetts
electric companies was a feature, II
is believed by that liquidation by the
underwriters Is nearly over. Bonanza
mining advanced from ia to 2ss IN
buying by Standard Oil brokers. THE
option on the Cochiti grant, which Is
held by the Standard Oil people, expires
Sept 10, and experts are now exarllin-
ing the property. Boston and Maine
was up another point, at 2O2 United
States Oil sold down from sou to 40, but
rallied to SO.
The following quotations were made
Q a - II @ III ia.