The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-12
Big Transactions Were Made
in Steel and Wire.

80 "A Selleidi review OF the STOCK marke
conditions, both local and general, TO
the past week, show far better result.
than might reasonably have been ex
peGted at the beginning.
The general market opened Monday
about on a parity with the Saturda,
closing, and a general selling move.
fnent Started in stocks gradually yield.
ing to the low prices on Wednesday. In
the last two days OF business stocks
rallied on the evening up of contracts
for the holidays.
Chicago, Burlington and Quincy was
the feature of the week, opening at 1857
Monday, and selling down to 1872 on
Wednesday. From this point tbs, stock
rallied. sharply, selling up to 1873 on Fri
day, the highest price for the month.
American Steel & Wire common
opened oMonday at 40 and on grad
ually declining market reached the low
price @oA As on Wednesday, closing
strong on Friday at 47a4 sales aggre-
eating g., 400 for the week
Preferred opened Monday morning at
So%, declining in sympathy with the
rest of the market to S21a on Wednes-
dayTlow price for the week-closing at
% on Friday sTwenty-seven thousand
shares were sold during the week the
largest business ev&r done in any like
period since the stock was listed. The
largest business transacted in any one
day was on Tuesday Sales OF. Is, 100
shares
The grangers in general were in
sympathy with this stock, closing at
or about the best figures of the month.
lndustrials were active, with a de-
Ginning tendency, Tobacco being the
feature with decline from IA, the
best price. which was reachedion Mon
day, to 1851 on Friday, decline 81S
points for the week. 1t rallied near the
close to 1919, on covering by shorts.
Sugar also yielded sharply during the
first three days of the week, on fairly
heavy business. The high price of the
week was reached on Tuesday, 1898 !.
lowest on Wednesday, 1277s. 1t rallied
somewhat from this figure, closing for
the week at 1919.
Tennessee Coal and Iron was very
strong on Thursday and Friday rally
ing sharply from its low point of 1872 on
Wednesday TO 42la on Friday This, to-
gether with United States Rubber.
seemed to be the strong spot in the
Industrial group, Rubber rallying from
As to 51B and closing on Friday at
SOS.
The low priced shares seem to be the
tavorites and displayed good deal OF
strength in the face Of the general sell
ing, Atchison yielding but two points
and closing strong Friday at q IL fol-
common and Gil is for preferred.
The Coalers We're strong on pros
poet of increased business, due to the
=, l.,
country, Reading first preferred beins
perhaps the feature, and closing strong
Tor the week at 61 but, a point and .
half below the high price for the
month, Which was reached on Febru-
AIRY 2.
July wheat, after settling, on a gen
eral decline, to So ga on Monday, raj
lied to 10 1-2 cents Oh the 10th, closing
at q 3-S, practically The best price fol
the month
Local bank, railway and industrial
stocks remain at about the same fig
ures as at the beginning OF the week
While surplus IF pig iron on hand
at Pittsburg is admitted, prices there
are advanced by the Bessemer Associa
tlon to $11.40 and in Grey Forge qC
NO,f5, and at the east and ChicSgC
prices for pig are stronger. BiletStare
scarce, with SIPS paid at Pittsbure
and $3.50 at Chicago, where mills are
not able to fill orders The new COM
olnation renders steel bars pqminal,
Fhe consolidation of steel and wire
concerns is expected TO affect al prices
materially. and wire nails {have beer
advanced ten cents per key. Rails have
also been advanced $2 per; ton, and bars
at Pittsburg are 81 per ton higher, The
general advance in finished products
from the lowest point last year, August
lst, has been 1862 per cent, against 49,.
on the various grades9of pig iron.
The plate mills ARE everywhere
crowded and can take no orders fol
months ahead, One demand for 1OO(
tons from Chicago at New York is re
ported. In sheets the demand is be
yond the capacity of works, and the
orders for structural forms are many
although individually small. Bar is il
greatly increased demand, car orders
being large UAt the east and covering
several Thousand cars at Chicago. The
pipe consolidation is hindered by one
compaflys. but never before has there
been SO large demand, but there is
now observed a general hesitation tc
pay the higher, prices recently asked
fhe compressed air scheme that is
~'S~ iluCIl Interest " lllhtotOio ~
Worcester just now, is not finding sc
much favor among the Manhattan peo-
pre- as was hoped for and expected a
week ago. The report that George
Eo .noii looked favora5ly upon the prop
9siEon to equip the line with it, re-
celVes little credence in the stocR
hsaeketyyg The wise ones say that the
heW power has not received sufficient
teat to warrant its installation on
system of magnitude of the Manhat-
IAN More than majority of the STOCK
SAD to be represented by proxies II
ne hands of Messrs. Sage, Gould anC
galloway, to be voted in favor Of the
NV stock issue and electrical equip
ISeht. This was to have been expect
~ however, as the control rests witt
HVe'nen who, agreed to act together il
the matter. The contract for the eec
tfleal work Is believed to be still il
sSpfyance The General Electric ant
Westinghouse are reported to have
combined to prevent bi lding each othe
The sale OF American securities b.
london is not looked upon in Wal
sSreet as a bearish feature. The heat
OF one of New Yorks largest house
says: a@
Europe has been a seller on ever.
sharp rise for 10 years. 1t is simply tn
potleg over there in regard to our Sc
uutitles. When our securities declin
sudaenly, they buy; when there is
sup9ISntial advance. they sell. If tn
market had sudden mot gradual
urop Of, say 10 points, London woult
PROBABLY come in as heavy a buyer a
~ mas recently been seller This mar
ket has RENTED, on account OF the re
urn OF American securities, fully $l5,
VOo,OOO during the last fortnight to Lon
oon, and vet exchange is almost at tn
gold importing point. 1t is certainl.
not an indication of weakness that thi
country can take care Of the larg