The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-27
THE Big BOOM UNCHECKED
Heavy Dealings in Stocks at New
High Prices,
burlington Nearly 200 on Curb"
strength of the Proposed Bonds
Other Railways StronE-Thc steel
Securities Make Good Advances.

NEW YORK April GA very heavy
volume of business was rolled mp in the
stock market today and the tone was in
the main very firm. At the opening SEN
timent was encouraged by the further ad-
vances shown in American stocks in the
London market and subsequently foreign
houses were fairly large buyers here.
With the course of the morning, how
ever, the disposition Of the dealings for
foreign account was reversed and the
trading resulted on balance in the sale of
about $1,000 shares of stocks.
The day opened with nothing of gen
uine Importance in the mornings news
The chief exceptions to the generally firm
tendency at the opening were American
Smelling and Amalgamated Gopher, both
stocks being unfavorably affected by the
new injunctions directed against recently
assumed policies of these companies
With the course of the day Amalgamated
Copper showed a distinctly rallying ten
dency. but American Smelling continued
heavy.
As has been the case throughout the
week however, the railway list absorbed
the bulk of speculative interest. Nothing
novel and definite came to light which
could be cited in connection with any OF
the days more pronounced movements
These were notably in the Atchison
shares. Baltimore and Ohio, Burlington
and Quincy. the Chicago Terminal issues,
Rock Island, Union Pacific, and Wabash
securities
The rise in Burlington and Quincy al
most reached 200. 1t seemed to a great
extent to be a reflection of the strength
In the curb market of the new per cent
collateral trust bonds to be issued in eN-
change for Burlington and Quincy stock.
The movements in the other railway
stocks mentioned were not attended by
any further gossip of novelty.
Apart from the railway list there were
fairly animated dealings in the local
traction group. all of which were firm,
and in the industrial quarter substantial
advances were common among the last
named group, Sugar rising sharply on
large transactions, while United States
Steel CORPORATION stocks showed more
strength and animation than in a long
time. There were also substantial ad-
yances in Pressed Steel Car, American
Tobacco. and Continental Tobacco.
There have been rumors for some time
that the American Tobacco company was
contemplating an issue OF polcs Io I,,t IN :,
PURPOSES of financing the American Cigar
Con1pany but it is understood that IN
stead of this the American Cigar Com
pany will issue it's own 4 per cent bonds
which win be guaranteed jointly by the
American and Continental Tobacco Com
panies. ,...,,
ms were scored in Colorado Fuel and
iron. Consolidated Gas. and Western
Union. but here, too, nothing novel could
be cited bearing upon the course OF these
stocks. -,
Although the stock exchange viii be
closed tomorrow, quite a lively interest
was taken in the probable showing TO pc
made in the bank statement and generally
speaking optimistic views prevailed III
this respect The banks appear TO have
incurred a small loss in cash through the
known money movements of the week,
but a further reduction in the loan ac-
count was commonly looked for, as 1t
was thodght that lenders outside the
clearing house had to a large extent sup
planted the associated banks in extending
accommodation to Wall Street borrowers.
The money market continued easy and no
alteration appeared in foreign exchange
conditions A large number of railway
traffic returns for various periods were
reported.
versihed up TO the close of business. Con-
spicuous features Of the market other
than those already cited We're New York
Air Brake which advanced on reports
that the distribution Of a large extra divi
dend was contaminated and the shares
of Virginia Carolina Chemical Company,
which were in better request than for
some time. Northern Pacific common led
the railway list in the afternoon market.
Further advances in Chicago and Great
Western issues made them the feature
of the lower priced stock Nothing def
earlier in the day developed with the
course of the business session.