The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-06

Activity Increased and We'll Di
yersified - Pronounced Movement,
Among the Speciaities - Dealing,
in the Steel IndustriaIs Subside
NEW YORK. March 5.-General STOCK
mar;et conditions today bore a close
resemblance to those prevailing in yester-
days dealings. An excellent market In
the true sense of the term prevailed in
practically every quarter. Except among
the higher priced issues there were nc
movements which could be classed as SEN
sational. and. in fact. the trading retain
ed the orderly characteristics which
marked yesterdays market
There was fair increase in activity
and interest continued well diversified. Ap-
parently the same influences responsible
for the firm tone in yesterdays market
continued effective today. A large num-
Der OF railway traffic returns for various
periods were submitted, among them
being the notable exhibit of the Penn
syivania Railroad.
AS was the case yesterday. the virtual
conclusion of the amalgamation of the
steel companies was regarded as a mat
ter for general congratulation. The steps
being taken in some directions to obtain
better terms for certain securities We're
not regarded as likely to prove a serious
obstacle to the contamination of the plan.
Dealings in the steel industrials sub
sided materially today, and the price
movements in that quarter of the market
were exceedingly limited. All of these
stocks have now struck levels reducing
the profits Of arbitraging to point which
has killed off this advantageous method
Of trading. Apart from the steel indus
trials the movements in that quarter
were conflicting.
International paper was strong, and the
tobacco stocks were firm. Pressed Steel
Car reflected moderate pressure.
Sugar refining was actively traded in
and showed very wide fluctuations The
quarterly dividend declared today was at
the same rate that declared in De-
cember, namely, 5-4 per cent. The stock
had been quite weak, prior to the an
nouncement of the dividend but it sub
sequently recovered sharply, and later
showed erratic movements.
The most pronounced movements in the
market occurred among so-called special
ties Amalgamated Copper was notably
strong and active in authorization of the
cessation Of activities of the Montana
Lawmakers for two years, and for the
same reason Anaconda Mining was firm
here was notably sharp advance in
Consolidated Gas on the announcement
that the company had advantaseously
disposed OF a small part of its real estate
hoiulngs on Manhattan Island to the city
FOR dock purposes. This transaction was
taken to mean that the remainder of the
company extensive holdings of real
estate in this borough would eventually
be disposed of also.
Other firm features in this quarter were
Western Union, which rose in advance of
the dividend declaration, and General
Electric. Pacific Mail, on the other hand,
broke badly.
No special gossip attended the move
ments IN the local traction shares, but
all of these stocks were firm on an in
creased volume OF business. The railway
list showed the most activity of the
higher priced stocks, New York Central
and Delaware and Hudson being conspic-
uors. Investment purchases were noted
IN them and also in Pennsylvania on the
publication Of the companys annual re-
port
The grangers, while fairly steady, were
not conspicuous in the DAYS dealings
There was a distinct revival Of favorable
in crest in anthracite coal shares, sharp
advances being shown in the Erie and
Reading issues
The London market continued very firm
today on the further relaxation in the
money market there. In addition to the
stocks already named, conspicuous feat
ures of the days dealings were the shares
OF those roads more less identified
with Pennsylvania control, including Bal
tlmore and Ohio. Chesapeake and Ol.io,
and Norfolk and Western.