The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-20
UPWARD TENDENCIES HELD
Record Prices Reached by Some
Issues in the Market.
The steel IndustrinIs Again Enjcy
Busy Dny-Activity I'm the HniIvny
List-h Very strong Tone Under
lying the Natural Reactions.

lying the Nnturfl HehciiohS
NEW YORK. March l9-In today 5
dealings in the stock market there were
recorded in some stocks the highest quo
tations ever made and as regards the
general market the average range of
prices was lifted to the highest level In
twenty years or more. The very pro
nounced upward movement was little
more than a continuation Of the uninter-
rupted rise of the last ten days, or per
haps. to speak more logically, of the up
ward movement dating back to May of
1897
Today's situation was wholly wanting
in new developments of Importance.
large number of traffic returns for the
second week of the month were reported,
and practically all of them were exceed
ingly strong showings. The money mar
ket continued easy and sterling exchange
was firm. London furnished higher
range of prices for American stocks. and
foreign houses traded actively in this
market. their purchases today on balance
being in about the same volume as were
their sales OF yesterday, namely, about
$4,000 shares.
1t could scarcely be said, however, that
London was an important factor in this
market, inasmuch as the dealings for for
eign account were altogether overshad-
owed by the tremendous local trading.
Interest was again exceedingly well di-
versified, and while the general upward
swing in prices was punctuated by occa-
sional natural reactions. the undertone of
the market could be described only as ex
ceedingly strong. AS was to be expected.
also, in such a heavy speculation, the
arlya in r.
ances of irregularity.
1t may be noted that Southern Rail-
way, common and preferred, and the
Atchisons sold at the highest prices ever
recorded for those shares, and that Louis
VILE and Nashville, for the first time in
many years. crossed par. Other con-
spicuous features of the market were the
Atchison issues Missouri Pacific, Union
and Northern Pacific, and the grangers.
Particularly sharp advances appeared
in Rock Island and Burlington and
Quincy As regarded the last named. per-
sistent reports Were in circulation that
interests at present dominating the Great
Northern and Northern Pacific properties
had acquired controlling influence in
the stock Denials of these reports were
forthcoming in some detail, but they did
not shake the belief of the street in their
credibility.
As might be expected. there were cur
rent during the day a great number of
other rinors of deals and arrangements
of one kind or another, but they hardly
deserved to be dignified by special notice.
Some quarters of the railway list were
wanting In animation.
Thus, Norfolk and Western. and Chesa-
peuke and Ohio were neglected, as was |
Pacific.
The anthracite coal issues were likewise |
dull: but very little pres |
sure appeared in that quarter, notwith- |
standing the uncertain issue of the labor |
situation in the coal regions.
There We're irregular and uncertain |
in the local traction stocks. /
The absence Of any immediate conf1rma- /
ton of yesterdays reports OF a New York |
Central guarantee upon Manhattan stock |
led to quite heavy selling Of that issue. |
Brooklyn Rapid Transit, on the other |
hand, was decidedly nrm, and Metropoli- |
tan Street Railway was dull
The dealings among the speeialties de- |
veloped no interesting features Tepnes- |
see Coal and Iron and Colorado Fuel and |
Iron were however quite firm. There |
were further material advances in all of |
The steel industrial stocks concerned in
he pending amalgamation. Particularly |
sharp rises took place in all OF the pre-
erred stocks.
The rise in this quarter Of the market
vas doubtless in a large degree Influenced |
" authoritative statements regarding the
ate at which the steel stocks were be-
lg deposited for exchange into the United |
,tates Steel Corporation stocks TomOr-
ow will be the last day on which regular
leposit for purposes of exchange will be
flowed. but it was said today that nearly
Q per cent of all me issues concerned had
iready been turned In.
The movements elsewhere in the indus
rial quarter were wanting in interest and !
pecial significance