The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1901-06-14
THE MARKETS.
Wall Street Review.

New York, June I3.~rherc was a notable III.
crease in the speculation in stocks today. the
days business running UP to nearly million
shares. Speculative interest was still decidedly
spotty, but the strength ,f the principal active
stocks was so decided as to affect the whole list
by sympathy, with a few unimportant exceptions.
There were points in the list. nevertheless which
were held back 10y palpabe realizing. The real.
isng was well taken and inflicted no Losses on the
stocks. Pennsylvania was a notable example IN
this category and the southwcsterns did not
share to the full in tho buoyancy Of other west.
rrn railroads. Very large hino,nts OF PennsyI.
vunia stock have bcci marketed this week and
in the loan crowd the stock commtnds pro-
miun The selling is to large extent against
tho huying of rights to subscribe to the new
stock issue. Notwithstanding the official dis
chalmers OF the, reported purchase OF the Penn.
sylvana steel company by tho railroad COM
pauy. Wall street opinion regards that as an
accomplished fact The continued strength today
Of Colorado fuel and the buying Of that stock
by some brokers usually employed in the Could
interests aroused conjecture that the control
Of the Colorado company was being sought by
tho Gould Hartman interest with the same pur
pose in view as that ascrbcd to the Pcnnsyl
yana, namely TO insure the cheap production OF
its steel rail supply. The advance in Colorado
Fuel reached sig. carrying II above yesterday 8
high price. Other Independent steel companies
were strong. notably Tcnncssc Coal. which rose
37s on the acquisition Of the Alabama Steel and
Wire company. The United States Steel stocks
wchc heavy, the selling being attributed TO I'M
cssncss over the development OF opposition com.
pancs. The Gould Hartman brokers were active
in various stocks notably in Union Pacific. The
buying in this stock on an enormous scale
| and was closely followed by st. Paul throughout
| all its fluctuations. The street was in the dark
as to the 5i the movement and attributed
it vagculy to further working ont Of the North.
western railroad relations and to favorable crop
| news. Union Pacific rose an extreme SIS and
st. Paul, 4%. Missouri Pacific and some of its
| affiliated stocks, notably Denver and Rio Grande,
continued to show the influence of expected action
on consolidation. The rise in Baltimore and
| Ohio was "a was on the judicial decision in
| favor of the rights of the common stockholders
to all profits after the preferred dividend. The
preferred stock broke 9 points from the same
| cause Cleveland. Cincinnati Chicago and st.
| Louis advanced 2as the reported acquisition
| of the Cincinnati Northern. Minneapolis and st.
Louis, after n further decline of one point, ow-
| ing to disappointment over Yesterdays unchanged
dividend, rallied strongly five points. The rise
OF 6M in North American was accompanied ny
runners Of additional enterprises by the company.
Western Union gained % on the strength of its
| large dividend return. Quite long list of rail
road and industrial stocks advanced from l to .
points The buoyant outburst in Union Pacific
| made the closing firm, although there had been
| constant reaction on profit taking. Total salts
today 969. 500 shares.
Several convertible bonds were strong and ac.
tive in response to the movement Of their stocks.
| The market generally was moderately active and
quite firm. Total sales par value, S5.7i0.0OO.
| United States bonds were all unchanged on the
| last call.