New-York tribune., 1901-03-14
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Higher prices on an increasing volume OF busl-
ness marked the course Of securities operations
yesterday. The railroad shares were ir good de-
i7lard for investment and speculative account,
while many Of the attractive industrial shares
were bought by substantial Wall Street interests
Peoples Gas was a notable feature in the last
named group Of stocks This security is a sound
investment issue. yet it has failed to share TO
any extent in the general market Improvement
Of the last few months. In 1899 when the real
value Of Peoples Gas stock was less than it Is
It present. the price on the Stock Exchange was
2 bCve 125 and if il was worth those figures
1hen as a 6 per cent security, it certainly IS
entitled TO a quotation equally as high on its
present valuation. The Chicago combination or
speculators and politicians has been attacking
Peoples Gas for many years, but as an invest
,rent value the stock has not suffered, al
though at times sharp declines in its market
Price have taken place. Developments IN the
electrical and gas field in Chicago similar to
those in NeW-York are not improbable Con-
zoIdated Gas Of this city. again strong
feature While all the local issues were active
and sought after. Brooklyn Rapid Transit was
taken by an excellent class Of buyers, including
people identified with inside interests The ad-
n vance IN this issue appears 10 be wholly due 10
buying based on good earnings and the pros
poets Of increased facilities for handling the
bridge traffic.
Speculative buying of the Southwestern rail-
road shares continued in yesterdays market
DEVELOPMENTS that will have q favorable infiu-
ence on the various companies in the South
western States are undoubtedly pending, but
The insiders alone know the character Of present
negotiations. II s probable. however, that an
important extension Of the community Of control
scheme is under way. Missouri Pacifc's market
price and position in relation TO the other COM
uanies in the Southwest suggest that il viii be
The controlling interest in the railroad situation
in that part Of the country. The market values
Of the securities of all the roads in Texas and
nearby States have shown wonderful improve
ment in the last three months, but the advance
has not been out OF proportion TO the gain in the
actual value Of the various issues. Railroad
earnings have reflected high prices fer cotton
and an increase in general in ndustries. ST. Louis
Of the group yesterday, the advance being ac-
companied by rurnors Of deal with the Mis-
souri, Pacific. The granger shares attracted at
tention Burlington and ST Paul in parucu-
lar furnishing further evidence o. the belief IN
most circles that both roads viii figure in con-
solidation deals. There are many men in Wall
Street who believe that Burlington will be the
western end Of the Pennsylvania system before
long. The increase in the Pennsylvania COM
pany's capital stock Of SlUDWFJ,0OO suggests i'm
pending big transactions.
The advances of the morning attracted realZ
ing sales in the afternoon. and before the close
reactions tool. place in the greater number Of
issues Final changes. however were net ad-
vances in the majority Of shares The iron and
steel stocks were dull with narrow fluctuations;
also malEamated Copper Soft coal shares
were favorites. hut the anthracite issues We're
heavy owing TO the uncertainty over the labor
situation at the mines Commission house trad
ing was more active than recently reported
while the general market presented a broader
distribution OF business and a better speculative
tone than had been recorded in number Of
days. Money market conditions continued easy,
with rates at unchanged quotations. There is
no sign Of disturbance in loans.