The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-19
ADVANCING PRICES RULED
The Day a Heavy One in Stock
Market Transactions.

A Pronounced Revival of Animation
in steel Industrials - Local Trac-
lions Activc-Thc Changers Again
Participate in the Days business.
NEW YORK, March $50 far as the
general stock market was concerned, it
was very difficult to assign specific causes
for its tendencies today. Many particu-
lar movements however, might be ac-
counted for through various reports cur
rent bearing upon special stocks, which
were readily accepted in the prevailing
spirit Of the speculation.
The market opened with no changes OF
importance showing in any of the fea-
lures of the situation over Sunday. "he
most important news bearing on particu-
lar stocks was that regarding the pur-
chase of the so-calIed Rockefeller iron
properties in Minnesota by the United
States Steel Corporation, and that Of the
issue of new stock by the Great Northern
Company
The London market showed small and
irregular changes for American stocks,
aud the rather heavy dealings here for
foreign account resulted. on balance, in
the sale of some $1,000 shares of stocks.
The local market, however, paid scant
attention to Londons disposition, and
opened strong and active. with many eX-
Ceedingly sharp advances appearing with
the course of the day. Interest, more
ever, was much better diversified than
it has been in the last fortnight.
There was, for example, a pronounced
revival of animation among the steel in
dustrial properties that are going to be
consolidated into the United States Steel
Corporation All of the stocks in ques-
ton scored sharp advances on large deal
ings, ana the same was true of the United
States Steel Corporation stocks in the
curb market.
The course of these securities may have
been in part influenced by the purchase
of the iron lands I'm Minnesota already
spoken of and it was probably owing to
the approaching termination of the pc
riod in which the older industrials may be
deposited for exchange into the United
States Steel Corporation stocks.
The steel industrials did not. by any
means, monopolize interest in the indus
trial quarter. inasmuch heavy trans
actions were noted in American Tobacco,
American Ice common and preferred, and
Sugar Refining, all at advancing prices.
The local traction shares were among
the more conspicuous features of the
days dealings. The trading in Manhat-
tan was particularly heavy. The rise in
Brooklyn Rapid Transit appeared to be
sympathetic with that in Manhattan
Railway. At all events, there was no par
ucular news or gossip In connection with
it.
On exceedingly heavy dealings the rail-
way list was decidedly firm. The anthrd-
cite coal issues were exceptions to the
general tendency, on the more threaten
ing labor situation in the coal regions.
Chesapeake and Ohio and Norfolk and
Western also moved counter to the gen.
eral market, Chesapeake and Ohio being
unfavorably affected by the fiat denial
of the reports linking that company with
the Pennsylvania Railroad.
The most striking advances scored in |
the railway list were in the granger |
shares, Northern Pacific, = Missouri Ia |
cific and Louisville and Nashville. Bur- |
lington and Quincy scored a further note |
worthy advance on renewed reports that !
the company was 10 be headed by the |
Northern Pacific interests on a guaran- |
teed dividend basis but confirmation of |
these stories was wanting during the /
business session.
The particular strength of Missouri Pa |
cific was accompanied by reports, which |
are apparently well grounded. that the |
various Gould properties in the Southwest |
are likely TO be emalgsmated with the |
Missouri Pacific Company. Aside from |
the cases noted the course of prices APP
peared 10 be owing mainly TO the same |
investment considerations which NAV be |
said to have been the chief factor in the !
market since election day.
Todays total transactions were the |
largest recorded in a long time. 1t was |
only natural. in view of their magnitude |
and the somewhat excited character OF |
the trading, that the course Of prices
should have been marked by some irregu-
larity and that occasional sharp reactions
and counter movements were noted in the
market.
For example, in the afternoon the an
thracite coal stocks enjoyed recoveries.
while the rest of the list underwent
reaction. The undertone of the
market. however, remained exceedingly
strong.
The dealings in bonds were again upon
a large scale, but a slightly reactionary
was apparent in that division |
OF the market The money market con-
tinued easy, and sterling exchange was
firm.