The times., 1901-03-23

The GFau2ers Aud f'N pAh'' =
in the Railway List Among the
shares That Enjoyed Firmness-
Activity i'm the Industrial Quarter.
NEW YORK. March 22-The stock mar
ket had a more irregular tendency today
than it has shown at any time within the
last fortnight. Profit realizing sales upon
the opening Of business were in enor-
NOUS volume and while number oi
very extensive advances were scored in
the initial dealings the market soon show
I'd the effect of the heavy liquidation.
The consequent concessions, especially
those in the specialties, were considerable.
The general market during the forenoon
continued irregular and rather unsettled.
About midday effective buying orders ap-
peared i'm New York Central, Pennsylva-
mia. and Burlington and Quincy, and the
rapid advances in these stocks served 10
check the declining tendency in the re-
mander of the market
The only circumstances Of the day 10
which it was possible to refer the unceT-
tain tendency Of prices with any direct
ness were the some what more active
money market conditions and the gene"al
expectations that further reduction viii
appear in surplus reserves in tomorrow 5
bank statement.
The London market was exceedingly
strong. with particular strength and ac-
tility appearing in the American quarter.
Foreign houses were large dealers IN the
local market. and were heavy buyers from
the opening, their total purchases being
estimated at fully So.ooo shares.
With the course of the morning, bow
ever. they reversed their position, but
an hal
temporary settlement Of the Anglo-Rus-
sian dispute in China was the main iniiu-
ence in the London stock market
Aside from the stocks cited, compara-
lively firm features of the railway list
were the Atchison issues. Denver and Rio
Grande. Illinois Central, and Lake Erie
and Western the Southern Railways
Louisville and Nashville and the Wabash
issues Although there was no special IN
telligence from the anthracite coal re-
pions the stocks particularly concerned
Were generally irregular, the Erie issues
being reactionary, while the Reading
stocks were fairly steady. Delaware and
Hudson reflected particular pressure.
The granger stocks had a generally firm
tone with the already noted sharp rise
appearing in Burlington and Quincy. The
fluctuations in these stocks, however. like
those in The remainder OF the list, We're
throughout the day characterized by great
irregularity.
The particular pressure appearing in
Missouri Pacific was not accounted for by
any known developments OF Importance
Among the specialties, Minneapolis and
st. Louis was exceedingly strong on re-
newed reports that the road is to be
leased TO the Illinois Central on a guar
anteed dividend basis.
There We're heavy dealings in the local
traction shares, where, however, the trad
ing was marked by the same uncertain
tone that prevailed in the general market
Some Of the more extensive movements
today We're in the Industrial quarter, ma
terial advances being scored in American
Car Foundry and in the international Pa
per shares, and, in fact, a generally firm
tendency was manifest in that quarter.
Sugar Refining was an exception, not
withstaHding reports Of an advance in the
selling price for refined sugars. Among
the specialties Amalgamated Copper was
firm and a material advance was noted In
Pacific Mail.