The age-herald., 1901-03-18
PRICES LIFTED IN
 STOCK MARKET Burlington Made Remarkable Demonstration of Strength 
 HEAVINESS WAS OVERCOME Steel Stocks Turned Strong at the Last and Amalgamated Copper Rallied Sharply From Early Weak
 ness-Review of Week.
HEAVINESS WAS OVERCOME

New York, March 16-lrhe remarkable demonstration made by the Burlington stock in todays stock market had de cisive effect in lifting prices generally to a higher level. Persistent and growing strength of Burlington overcame the ten dency toward heaviness, which was mani- fest at some points in the first hour or the trading. But taking of speculative profits, which was apparently the cause of this heaviness, continued all through the late spurt in Burlington. It was off, set to a sufficient extent by the new buy ing, which came in through commission house, to lift prices in the majority of cases through the realizing of offerings. There were exceptions on the side of weakness. St. Louis and San Francisco dropped sharply ? points under yester- day in the midst of the buoyancy of the market.
 The coalers made no notable response to the rise, seemingly on account of the possibility still remaining of a clash with the miners. St. Paul was a notable lag gard in the granger groppfunot never got as much as a point over last night. Sell ing for London made a depressing inf1u- ence. London seemed to take seriouh view of the clash between the Russians and British at Tien Tsin. Speculative op- erations obviously had much to do with the movement in Burlington.
 The steel stocks turned strong at the last and Amalgamated Copper rallied sharply from early weakness The clos ing was confused by the break on profit taking on the extreme advance, but the undertone was strong. Dealings in low grade bonds, especially in Wabash deb- entures Bs and Mexican Central incomes were on an enormous scale. Fort Worth and Denver City first rose points, The loan contractionand the consequent small shrinkage in surplus reserve caused the bank statement to be favorably inter- preted.
 The iron market has been factor in the underlying strength of the stock mar ket, the output of pig iron having risen to the figures of the recent boom period, and consumption still ahead of produc- tion The steel stocks themselves have not responded to these conditions, but have been dull and rather heavy. The pro- cess of exchange of the old securities in- to those of the new corporation have hampered transactions in the stocks. The restricted operations on the curb in the United States Steel Corporation stocks when issued are not regarded as suffi- ciently broad to fix the market status of those stocks and their admission to the Stock Exchange is awaited to give better opportunity for judgment. The sessions of the United Mine Workers convention had somewhat repressive influence on the coalers early in the week, which was somewhat relieved as confidence grew that difficulties would be adjusted with out strike. Opinions on the money mar ket outlook have been very conflicting. But the continued low rate for money has kept any apprehension over the future quiet Preliminary AT \ completed last week, when the heavy div tdend disbursements on the 18th includ- ing $20.0000 GOO by the Standard oil Com pany. Last year the company disbursed the same amount at this time.
 Call loans ran up to ! per cent at the end of the second week of March. The. ease which afterward developed in the money market seemed to be altogether due to the operation of the refundng and currency law which was enacted on March IA. The payment of the premiums on refunded government bonds quickly re- lieved the drain on the New York money market by the sub-treasury.
 The time for deposits of stocks under the terms of the steel merger will expire on Wednesday of next week after which it is expected the plan will become oper- ative. It will be remembered that the steel organization syndicate is to supply s25 0OoCo0 cash under the plan. Sterling exchange has risen this week in spite of easier money in London. The coming loan in London is believed to affect the ex- change market as preparations are prob- ably making for American participation in the loan.
 There has been very active demand for railroad bonds during the week. Southwestern issues have been most largely dealt in.
 United States 4s advanced B, and the refunding 2s, z per cent over the closing call of a week ago.
 NoNu Xork Sfoek Ma rkAt