The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-25
MARKET PRICES RISING
The Advance. Nearly Universal, Be
tokens a Bull Market.
Wall street Discountiug the Effects
Avenue n Turning Point In >pecu-
iation - Gossip Regarding Large
Purchases of RAILWAY shares

NEW YORK. March 24--Wal Street has
not waited for an imitation of the cur
rency through the operations OF the new
financial legislation, as basis for Dun
speculation in stocks. but has, as usual
begun 20 discount that event The ad-
vance in prices this week has been very
nearly universal. aud in many cases IT
has been pronounced. The sudden acquI-
sition Of the Third Avenue property by
the Metropolitan Street Railroad appears
10 have been the event that gave the mar
ket fits first upward turn. Misforunes of
the Third Avenue Company. together with
its heavy obligations to the financial com
munity. were a most depressiu' Influence
up 10 last Monday. A feeling OF + was
evident as soon as il became known that
the control Of the company had passed
into the hands OF men capable OF financing
il. and Of managing il upon a profitable
basis
As a large short interest in Third Avenue
was severely punished by the accumula-
ton Of the stock for control that same in
terest In other stocks was alarmed and
has covered extensively throughout the
list At the same time the atmosphere Of
saturated with rumors OF various develop
ments favorable TO a number OF properties.
Extensive buying Of Norfolk and Western
and Baltimore and Ohio is said 90 have
been TO effect changes in the control OF
those properties. Interests identified with
the Pennsylvania Railroad are reported TO
have been the purchasers. Why those IN
terests should have waited, assuming that
they desired to control the properties men
sTaHf in
Street became bullish before making their
purchases is a question that may be an
swered later by sauguine spectators, who
are now betting their money on theories
and conjectures as they Invariably DO in
q rising market
The railway list has received unusual
attention this week while industrial issues
have as rule. been neglected The only
iron and steel stock that makes a good
showing is Colorado Fuel and Iron. lndi-
cations are however that there viii be
large foreign as well as domestic demand
fer iron and steel products during the next
few months. At the moment the industry I
that attracts the most attention Is that OF
mining and Transporting bituminous coal, F.
The settlement Of the differences between I
the partners in the so-called Carnegie /
properties is a development Of far-reachi- 4
Importance IN both the iron and soft coal .
industries. Andl docs ubt - YET stem .N ht f
fally appreciated by the public.
The weekly statement Of averages % the F
associated hsnks showed as had been fore
Swallowed q very small loss in lawful .
money. The decrease OF nearly Sl2.5po.ooo 4
IN loars contributes 10 decrease q nearly /
Sl4 God. 600 in deposits. aud the smaller re-
quirements against that item permit of an .
increase OF over s. 900 600 10 The surplus /
reserve
Todays market was strong and active I
London MAS a free buyer. and so were
commission houses The exceptionally |
strong features we're Denver and Rio
Grande issues. Baltimore and ohio Union
Pacific and Sugar Refining The closing
was strong a. about the best prices.