The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-19
STOCK ADVANCES CONTINUE
The Market Develops an Amazing
Buying Power.
Burlington and Northern Pacific Suf-
fer Through Want of Information
as to the Deal - Striking Rises
Appcar I'm the Railway Quarter.

Appear in the haiiNas a""rF'
NEW YORK. April 1s.-After stating
the fact that the general stock market
continued to advance today, very little
that was new could be told in connection
with the dealings The most important
news of the morning was, of course. that
respecting the improving conditions in
the threatened labor troubles at Pitts
burg
The London market for American
stocks was. as a rule, quoted at prices
below those of the final dealings in the
London market yesterday, and the deal
ings here for foreign account were over
Swallowed by the magnitude of the local
trading. Scant attention appeared to be
paid to the statements of railway traffic
submitted today, although most of them
were very gratifying showings.
There was again an abundant supply
of money on call at the average rates pre-
vailing throughout the week, with an
increased disposition evident on the part
of the lenders to put out their funds on
time. Slight change appeared in the deal
inss in foreign exchange. Under these
general circumstances. the market open
ed with a somewhat irregular tendency
but soon developed general and agrees
sive strength.
The public was again without definite
information respecting the Burlington and
Quincy-Northern Pacific arrangement,
apart from that furnished in the some
what negative statements published in the
newspapers. At the same time, it seems
to be a fact that the transaction in dues-
tion has virtually been concluded and that
official announcement is withheld pend
ing only the settlement of a few details
of small Significance
1t was again the case that the trading
In general varies but little from the con-
dttions which have become familiar to all
observers of the market in the last few
months. The so-called professional Gle
raent decried and contested the advance;
;he general tenor of the advice of commits
sion houses was toward extreme caution
Notwithstanding which facts buying
power almost amazing in extent was evil
oent at the close.
In some cases the continued IIuuida-
ton of small speculative pools was re-
fecteG in further declines. but, broadly
considered. the market could be described
only as another noteworthy chapter in the
movement The usual number of rumors
OF one sort or another, bearing on par
tcular stocks, were again current, but
OF course, Influenced in part by manipu-
lation, We're owing to renewal of the
genuine absorptive and investment de-
mand which has been evident in the
market for so long period.
There remain only to lie cited some of
the more pronounced movements of the
day IN the railway list the most striking
ADVANCES were in The Atchlson shares St
Paul, Missouri Kansas and Texas st
Louis and Southwestern preferred, the
Southern Railway issues, and Union Pa
cific.
Nothing new appeared in the discussion
ending these several movements. 1T is
commonly expected that Atcflison COM
mon VIII be placed upon a per cent divi-
oend-paylng basis at the next dividend
declaration period, and at all events the
current speculation in the stock is based
upon that notion. The advances in Mis-
souri,. Kansas and Texas and St. Louis
and southwestern were likewise to be ex-
planned only by the general acceptance of
the idea of the general amalgamation of
the roads In the Southwestern States.
As regarded st. Paul, few opinions
seem TO be more commonly entertained
than that the quotations for the stock
are altogether too low. or, that is to say,
out of relation to the prices obtaining
for the other Granger securities Con-
siderations of present merits and pros
poets only could be cited in connection
with the aggressive strength of the
Southern Railway issues and Union Pa
cihc
Both Burlington and Union Pacific suf-
fered comparatively through the absence
OF official statements regarding the ar
rangement between those two properties.
In other quarters of the market ma
terial advances were shown throughout
the local traction group, where the con-
spicuous feature was Metropolitan Street
Railway. Among the specialties Colorado
Fuel and Iron scored a further sharp adj
vance on purchases apparently designed
to obtain control of the property. while
Tennessee Coal and Iron and Peoples
Gas We're also extremely strong. The
copper stocks again fiuctuated extern
sively and erratically.
The strongest features of the industrial
quarter were American Smelling and
United States Steel Corporation stocks
the latter naturally responding TO the en-
couraging news from Pittsburg.