New-York tribune., 1901-04-26
BONDS.
THE DAYS OPERATIONS IN STOCKS

THE DAYS OPERATIONS IN STOCKS.
Further strength and activity marked the
course of securities trading In yesterdays stock
market Enormous buying orders from Chicago
a..ain supplied larye part Of the days business
,n the more active railway issues. The western
contingent of stusk market gamblers and their
following in localscommission house circles con-
tinue TO show no uneasiness over the present
range of values while they assert that further
operations for thesrise will be successful Con-
servative interests refuse to make any predic-
,ions about the market for the simple reason
that speculation issin the hands or men whose
SHANGHAI resources .cannot be measured by or
dinarv standards of'wealth. The general course
Of prices In the day was by means uniform.
but in the greater number Of shares advances
were made throughout the five hours trading,
with only minor reactions recorded. The heavy
Western and foreign buying was the most pro
nounced in the Atcf1ison issues Baltimore and
Ohio. Northern Pacific, Southern Pacific Union
Pacific and ST. Paul.
Transactions in the stocks named supplied a
good part of the total dealings, trading else
where in the market not resulting in extraor-
binary movements The formal announcement
of the Burlington deal was the chief news incl
dent Of the dav but as the terms OF the pro-
current the effect upon the Burlington stock
was not particularly important. IN Northern
Pacific common. however. a new high record
price was made to 1OF4 A contipuation of
Wednesdays remarkable activity in Union Pa
cifc was st.ing feature at the opening. initial
dealings in this stock amounting to more than
25.0o0 shares, covering range Of nearly two
points. The early advance in this stock was
followed by a reaction ibefore the close, so that
the final quotation only fractionally above
the preceding days last price. The movement
in this stock in the last two days has reflected
a contest for the control Of the property and It
may he said without fear OF contradiction that
this control now lies in the hands of the Van
derbilt interests. The marked rise in Southern
Pacific stock was accompanied by further re-
ports that the stock would be exchanged for
pew Union Pacific stock on the basis of two
shares of Southern. Pacific for one share of
Union Pacific Thistreport has not received Off
cial confirmation.
The heavy buying sIsovement in the Atchisor
stocks and renewed strength in Pennsylvania
and Rock Island revived the reports of a COM
bination between the propertie. named. Wall
Street apparently believes that the absorption
OF the Burlington by Mr. Hill and his associates
will be- followed by keen contest between the
various railway companies es-
pecially the part of ,fhe Pennsylvania and
Southwestern roads. Tlhe-.cfEances are, however,
that the present ideas of the various railway in
terests are centred entireiy.upor the harmonious
extension of community of ownership policy
At the close OF business yesterday. it was re-
ported that the much talked. about Southwestern
Railway deal would receive ,some formal confir-
nation to-day: In the lower priced railway stocks
Chicago and Alton shares we're strong, while
I'm ioal
issues and in the anthracite coal stocks. In
the industrial department a sharp decline In
Consolidated Gas was due liquidation in
speculative ascourrss. Colorado Fuel and Iron
Tennessee Coal and Iron and Peoples Gas were
decidedly strong. The crazy speculation in
many OF the railroad stocks has led to some
selling of 6rst-class industrial issues by people
who believe that they can mako a fortune in
The railway issues. The preferred industrial
stocks are. as rule. selling we'll under their
intrinsic worth. while all sales at the current
level are being. absorbed by a conservative class
OF investors.
The local money market ruled comparatively
easy throughout the day. with further strength
in the-sterling exchange market. Additional en-
gagements OF gold Were made for Saturdays
steamer, but this factor without effect upon
the seneral Wall Street market The stock
market closed active and strong although final
prices were under the best of the day. Brook
lyn Rapid Transit feature in the final
dealings. and the rest OF the traction shares
5oned in the upward movement BROOKLYN
Rapid Transit will be a prime investment Sc
curity some day. 1t represents the largest street
railway system in the country while its lines are
in control OF the traffic of a large and growing
city. with many suburban resorts that nust
depend upon the Brooklyn Rapid Transit cars
for transportation facilities