Evening star., 1901-03-27
Weak Opening, Followed by Good
Buying in Stocks.
SHARP REACTION In PRICES
Renewal of the Rumor of BurIinp-
ton Consolidation.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. March 2S-Opening trans
actions this morning suggested further
realizing on a large scale and were disap-
pointing In consequence. London sent over
a higher range Of prices. and was inclined
to buy moderately, but traders. as a rule.
were disposed to favor lower prices. Good
buying came in after the first quarter OF
an hour. and the entire market hardened
and subsequently advanced.
The Burlington transaction lacks official
confirmation, but brokers identified with
the Hill-Morgan party bought round
amounts of the stock up to 169. Northern
Pacific common was advanced we'll beyond
Union Pacific and was taken in quantity
by Hill brokers. The evidence Of the tape
is therefore strongly In favor OF a pending
deal.
1t is possible that Burlington may be
recapitalized and made to sell at very
much higher prices without being alb
sorbed at all. Any one getting control of
the property could, by a refunding process
and new stock issue. make enormous
profits. 1t Is. therefore, not unlikely that
Burlington will retain its independent po-
sition. but will make a liberal disbursement
In some form to it's shareholders. The situ-
alton In the northwest is the center of in
terest just now. and yesterdays evidence
that climax was approaching saved the
entire market from a further sharp recess
sion.
The demand for the securities represented
In the negotiations was Of the best and
there can be no reasonable doubt that
Northern Pacific common at 93 and Bur-
lington at 10 reflect inside satisfaction
with the condition of affairs
. The buying Of Atchison was good and In
large volume. Current earnings helped the
demand. but in addition to routine encour-
agement 1t Is now believed that an impor-
tant announcement will shortly be made,
crediting the recent heavy buying of the
companys shares to a large eastern trunk
line
Erie issues were active and steady under
buying credited to Morgan interests This
property Is concerned with the Northwest
ern situation and the coal strike. Fayora-
BILE developments in either should find
prompt rejection in the prices of these
stocks. The coal stocks as a class were
strong throughout the day, and the opera
tors continue to be confident that no strike
will be ordered. Wabash issues seemed to
lag somewhat. but with this exception the
leadership Of Missouri Pacific
Rumors that Pennsylvania will allot the
new stock to present holders at 40 In the
proportion of 331s per cent of the stock now
owned had little effect on the price, The
arrangement Is generally regarded as being
equitable and should show to greater ad-
vantage In the future price Of the stock.
There Is some disposition on the part of
certain shrewd operators to take profits in
the railroad list and go into the industrials.
The buying of the new steel shares is cred
Hed to such operations and the buying of
Colorado Fuel was sufficiently conservative
to be similarly credited
The pool in sugar forced a sharp ad-
vance In price during the afternoon, and
the inference follows that the time is con-
sidered more propitious than last week
Ihere are excellent reasons for believing
that the treasury has declared a willing
ness to preserve the ease of money during
the spring.