The sun. [volume] (New York [N.Y.]) 1833-1916, 1901-11-10

shadowed by that In Atchison issues. They
became active during the last half Of the
week, fat net advances OF Q points for the
common and OF over s points for the pre-
ferred. The revival OF interest has been
general, and the Improvement In prices
In the usually active list very nearly uniform.
H~igh-priced stocks like New York Central
and Pennsylvania nave been conspicuous,
the buying Of them being stimulated by
enormous earnings and, In the case OF New
York Central. by the growing and we'll
grounded conviction that plans are being
matured for a further concentration OF h
minor Vanderbilt roads, presumably through
a proprietary. company. For the first time
In months the shares OF railroads travers-
ing the South, notably Southern Hallway
and Louisville and Nashville, have re-
ceived attention that has resulted in mater
tally higher prices for them.
A Is always the case when sentiment
runs in favor OF higher prices, both specu-
lators and investors are beginning 20 dis
cover merit and possibilities in various
securities that are neglected when specula-
ton In at ebb tide. In consequence the
dealings In specialties and usually less
active stocks have supplied a noteworthy
part OF the total transactions. Net gains
Of s to 10 points have been recorded this
week In this section OF the market. Toward
the close OF the week there was a revival
Of interest in the United States Steel stocks,
based, presumably, upon tho extraordinary
prosperity Of the industry, which assures
to the company In common with others
engaged In the same; trade the largest
profits secured since its organization. The
shares OF the two industrial companies
tina are combating unfavorable trade
conditions, namely. Amalgamated Copper
and Sugar Refining. have received only
moderate attention, but have held their
ow- in the market. Sugar Refining has
done more than that, as II closed Ia per
cent. higher than last Saturday.
To-day's market was strong and active
throughout. with local traction issues FORM
ing a conspicuous feature. Metropolitan
Street Railway was the leader in the move
ment, and at a reaction Of more than a
point from the highest price closed 81
per cent. higher han last night. A large
short interest was created In this stock
prior TO and Immediately after the election.
chiefly upon the theory that a change in the
municipal government would be detrl-
mental TO the company. The leaders in
this movement appear to have been the
same operators who precipitated the de-
cline In Third Avenue stock a year and a
half ago and by 40 doing enabled the Metro
politan Company TO acquire control OF the
Third Avenue system at an abnormally
low price. II now looks as II they were
paving for their temerity in selling Metro
politan as they did for their confidence in
selling Third Avenue stock eighteen months
ago.
An incident In the traction situation
to-day was the announcement that the
banking syndicate which took s35 900 900 OF
Third Avenue consolidated gage bonds
shortly after that road was acquired by
the Metropolitan company, and incidental
to it's rehabilitation, has been dissolved.
The syndicate marketed nearly half OF its
holdings, and ~ members Of II who hold a
majority Of the balance have Expressed a
desire 10 keep them for investment II mas
been decided TO release all members from
their obligations TO return the bonds 10
the syndicate managers on their demand.
II was enormously stated to-day mat the
members of the syndicate had been re-
quested to lake up their respective allot-
ments OF he bonds This Is not the case The
members OF the syndicate tOOk thetr Doius
uhen they were issued and each has carried
them sub iect to syndicate obligations
They are now free to dispose OF them.
This accounts Tor the unusual activity ia
the bonds TODAY They sold down 10 par
In IN. early dealings. but rallied to iOila
and closed "A shade below that figure. These
bonds. il will b- remembered. are n lien
upon she ~ miles of the Third Avenue
sv.tern. together with it, other property,
such as bower houses and real estate, sub
iect only To- t5.UJ1,Oo Of fret mortgage
bonds upon the Third Avenue road proper
and Sh.4.3.0U bonds Of auxiliary companies,
ia. stocks 81 which are pledged a. security
for the consolidated mortgage They beaI
r@r o-ut interest and run 100 Year, from
Jan iAD
BROOKLYN Rapid Transit, on sales Of about
% 90 shares. enjoyed a net advance 81
more than s pOints Manhattan was less
acti,. than the other Two traction stocks.
still it cio-ed -. I~i cent higher than yss-
trriaV IA. covering 81 shorts m Peoples
Gas p-ultei in a net advance 81 ? points
There Was sofnr falling IN Of active inter
est iu ~. grn.fsl railway list, sull Atchisoh