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 IndustriaIs - Local Trac-
tions Active-Thc Changers again
Participate in the Dny's business.
NEW YORK. March $50 far as the
general stock market was concerned, ii
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 fe2-
lures OF the situation over Sunday The
most important news bearing on particu-
lar stocks was that regarding the pur-
chase Of the so-caled Rockefeller iron
properties in Minnesota 10y the United
States Steel Corporation, and that OF the
issue of new stock 10y the Great Northern
Company.
The London market showed small ana
irregular changes tor American stocks,
and the rather heavy dealings here Tor
foreign account resulted. on balance, in
The local market. however, paid scant
attention to London's disposition, and
opened strong and active with many eN-
Ceediugiy 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
iugs 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 il was probably owing 10
the approaching termination Of the pc
riod in which the older industrlals 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 as heavy trans
actions were noted in American Tobacco,
American Ice common and preferred anu
Sugar Refining, all at advancing prices
The local traction shares were among
the more conspicuous features OF the
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
tiCular news or gossip In connection with
il.
On exceedingly heavy dealings the rail-
way list was decidedly firm. The anthra-
cite coal issues were exceptions 10 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
eraI market. Chesapeake and Ohio being
unfavorably affected by the fat denial
of the reports linking that company with
the Pennsylvania Railroad.
The most striking advances scored IN
the railway list were III the granger
shares. Northern Pacific, Missouri Ia
cific and Louisville and Nashville. Bur
lington and Quincy scored further note
worthy advance on renewed reports that
the company was TO be headed by the
Northern Pacific interests on guaran-
teed dividend basis. but confirmation OF
these stories was wanting during the
business session.
The particular strength OF Missouri Pa
clfic was accompanied by reports, which
are apparently well grounded. that the
various Gould properties in the Southwest
are likely 10 be smalgsmated with the
Missouri Pacific Company. Aside from
the cases noted the course Of prices ap-
peared 10 be owing mainly TO the same
investment considerations which may be
said 10 have been the chief factor IN the
market since election day.
TOoays 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 a
material reaction. The undertone Of the
market. however, remained exceedingly
strong.
The dealings in bonds were again upon
q large scale, but a slightly reactiOnary
tendency was apparent in that division
Of the market. The money market con-
tinued easy, and sterling exchange was
firm