New-York tribune., 1901-03-09
SIX dividend.
BONDS.
THE DAYS OPERATIONS IL STOCKS.

Stock market trading was not particularly
active but a good demand for first class secu-
rites was reported. Unimportant price changes
marked the course OF business. with net gains
IN the greater number Of issues al the close.
Speculative interest in the stocks Of companies
IN which favorable developments are thought
10 be pending was the conspicuous feature Of the
day, and in several cases the character Of buy
ing was taken as a confirmation Of reports af-
fecting the properties concerned. St Louis and
San Francisco issues. for instance were bought
by people who are well posted regarding the
railway situation in the Southwest. Burlington
was in demand from sources that evidently
know something about the future Of the road
while St Paul was again absorbed by brokers
who are supposed 10 represent Morgan-Hin in
terests Chesapeake and Ohio was active and
strong on reports Of a Pennsylvania deal In
the industrial list Republic Iron and Steel issues
were firm features on the rumor that the com
pany would be taken into the United States Steel
Corporation. The Republic Iron and Steel Com
pany practically has control Of the rolling mill
business of the country, and earnings have been
heavy ever since its organization. As the pre-
ferrea stock pays per cent il is thought that
the price ought 10 90 materially higher.
Further active buying was reported in Ameri-
can Car and Foundry issues, and reports Of
consolidation with some other concern were
circulated. Car and Foundry preferred stock is
advancing or investment buying, and there is
no foundation for consolidation rumors. Inter
national Paper preferred was strong on light
volume OF business. but the demand represented
investment buyirg. 1t looks a If sound indus
trial shares were becoming faVorites with intel
ligent investors. while the prospects appear To
favor active speculative demand for all at
tractiVe issues Investment buyng is generally
followed by a speculative inquiry, especially in
cases where il is known that substantial fnan-
cial interests have been buyers. In the railroad
list Burlington shares enjoyed further improve
ment on a moderately heavy volume Of business
II was reported on the Exchange that an
negotiations that are said 10 be under way in
reference 10 a change in the control of the Bur
lington property and in well informed circles il
was intimated that Pennsylvania interests We're
the heaviest buyers Of the stock. Western
houses sold AtchisOn and Union Pacific and
bought Burlington. Sugar Refining and Anal
gamated Copper were COnsI lcuOUs features Of
the speculation, while all the local stocks were
actively dealt in. In the last half hour reactions
took place throughout the list and as 8 conse-
Quence closing prices were irregular and heavy.
The known movement Of money in the week
suggests loss in cash holdings in to-day's bank
statement. but there have been many
known factors in the course Of money that no
trustworthy estimate can be made regarding the
probable change in reserve above legal require
rnents. Bankers express no uneasiness over the
monetary situation. and they look for no i'm
portant advance in rates at present. The de-
rnand for funds is not heavy Merchants are
well supplied with money. and the commercial
paper market is inactive. The loss in cash hold
ings this week has been due entirely 20 pay
-nents TO the Sub-Treasury.