The times., 1901-03-12
AN EXCELLENT UNDERHONE
Noteworthy Movements in a Mum
ber Of Stocks.
Prices Marked hy Hesitancy and Re
actions, but the General Market
Was Firm-The Good Eject of the
Favorable Monetary situation.

Favorable Monetary Situation.
NEW YORK. March n.-Notwithstand-
ing the showing of the condition Of the
associated banks, as disclosed in Satur-
dav's statement Of averages, little change
appeared in today's money market The
probable course Of the latter was, how
ever. about the chief subject Of discussion
in Wall Street today and it seemed the
consensus Of opinion that more active
conditions must be looked for although
on the other hand the most competent
authorities were equally Of one mind ln
declaring they could see no possibility Of
ANYTHING approaching distressing strin-
gency
The favorable monetary situation, to-
gether with the better outlook Tor a
peaceabIe settlement of the threatened
labor troubles in the Pennsylvania an
thracite coal fields. gave the cue L" the
days dealings in the stock market The
course Of prices was again character
lied by some hesitancy and occasional
marked reactions, but an excellent uh-
dertone prevailed and the movements IN
a number of stocks attained noteworthy
proportions.
The lower prices for American stocks
sent from London had no practical effect
i'm the local dealings, and the operations
here for foreign account were upon a
considerable scale
1t appears to be the fairly common
opinion at the present time that the St
Paul dividend viii be advanced TO a g
per cent basis and that no change Will
be made in the Rock Island payment.
The granger stocks were all fairly strong
today. with a conspicuous advance show
ing i'm Chicago. Burlington and Quincy.
St Paul was dealt in eX the right to sub
scribe for the increase OF the new issue
Of common stock.
one If the most pronounced movements
in the railway list was in Missouri Pa
cific, the course Of this stock being IN
fuenced by the forthcoming publication
Of the annual statement of the company
The complete figures will be made pubhc
tomorrow forenoon. and It was reported
today that a very striking showing would
be made. These predictions seem rea-
sonable enough, in view of the exceptional
prosperity which all Of the roads in the
Southwest have been and are still ENJOY
ing.
other striking advances in the railway
list We're in Chesapeake and Ohio, Nor
folk and Western. Chicago and Alton. and
Great Northern preferred, but the ad-
vances IN these stocks appeared TO be at
tended by nothing further than prosaic
investment cOnsidera tions. The strength
IN the anthracite coal issues was dupli-
Gated in the bituminous coal stocks. in
which group the Hooking Valley issues
were conspicuous. Irregular and limited
advances were noted in the industrial
quarter. American Smelling was firm.
and American Steel and Wire advanced
on the announcement of the declaration
Of dividends Western Union was steady.
presumably in advance Of the declaration
Of the dividend on that stock. The de
cline in General Electric possibly reflected
disappointment at the absence OF the dec
laration OF any save the regular divi-
dends upon the stock.
With the course Of the day, the local
traction group developed strength, par
ticular activity appearing in Manhattan
Railway and Brooklyn Rapid Transit, a
movement which appeared 10 be to a great
extent based upon the covering Of short
contracts.