The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-21

| Hill came out with MS POSITIVE utillthi
that the Great Northern will lease the
| Inc. this desire to take profits was en-
HANGED. The break began on Iuesddy,
| as stated yesterday in this column. IL
| continued with little Interruption all gay
| yesterday. The low price was l62 and the
| recovery from that level was less than a
point at the close. The general tendency
of Burlington is almost certain to De
! downward from this time. at least for
tvcral days. II is not Impossible that
| il may react to around its high price, as
| stocks often do after first break; On
such an advance profits should be taken
| by those that have not already done so.
With the rights recently declared on
| Burlington the stock virtually reached
| level near 175. The advance was a fine
one. 1t was a tritie overdone, in all
probability. Later, on the next upward
movement, the stock may attain TO
still higher level
The other grangers were irregular,
showing strength at times, and at times
scemging very weak st. Paul I made d. 2
recently reached by IL, but later sold of
to 15lh, and seemed inclined to accom-
pany Burlington on its downward course.
| The Atchisons opened strong, but later
went off, and they closed with net losses
for the day. Rock Island made a new
| high price early in the day, 1904, but
before the close 1t had begun to break,
and more than two points were lost.
Missouri Pacific crossed par, the price
| that has seemed so absurd to the people
| hearishly inclined on 1t, and that at the
same time has been predicted with much
confidence by its friends during the past
| two or three months. The high price
reached was 10l, and the close was
| fraction above the century mark. The
| Greater Missouri Pacific" talk and the
story that the dividend will be established
at the rate of per cent in the near fu-
ture are responsible for the boom in the
stock. 1t is probable that 1t will go off
somewhat before it gets much higher,
though there are enthusiasts that say 1t
Will sell at 800 during the coming two
months. Northern Pacific was buoyant
| at the opening of the day, but reacted
| sharply before the close. The cause of
| the opening boom to S9l4 was a story that
the preferred stock is to be retired. This
was not sufficient to cause immense profit
| taking in it during the entire day. The
| low price reached was S6l4 and the close
| was SIS.
| The steel securities We're features yes
| terday. 1t was announced during the
| day that the quotations recorded Ia re-
| after Will be in the certificates of deposit
| and not in the old securities, unless the
fact be mentioned specifically. The 81 :
| Ulative trading after this announcer. 1T
| naturally was confined almost entirely
| TO the deposit certificates. The prices of
| the certificates. and of the old securities.
| too. held their own well during the day,
| but did not get to new high levels. The
| same was true of the new steel securi-
| ties ''on the curb There was some trad
| ing in the old securities for cash. In order
| that the stocks might be deposited yes
| terday, the last day of the deposit pc
riod, as fixed by the syndicate.
1t was rumored that there would be an
| announcement last night or in the near
| future from the Morgan syndicate rela-
| tive TO the success Of the merger plan so
| far. II is stated that about go per
mes to be taken in by the trust have
| been deposited. This, of course, ensures
| this end of the plan. The other phases
| of the consolidation are said to be work
| ing smoothly, and people close to the in
| side express the opinion that there will
| he no hitch. As to the outlook for the
! securities of the new company, Its
| friends are most hopeful. Mr. keene is
said to be an enthusiastic bull on them.
| ana especially on the preferred shares
| For the present, at all events, IL is prob
able that they will be advanced well. if
| only for business reasons. There Is u
| large block of them TO be distributed to
the public.
The stock that showed the most
| strength yesterday, with a good net ad-
| vance for the day, was Brooklyn Rapid
| Transit. The stock was strong at all
| times and especially during the afternoon,
| top price reached was $50 and the close
| was at s5S4. The close of the night be-
| fore was 81 and a fraction. The reason
| for the particular buoyancy of the stock
| was rurnor, well circulated. that the
company is TO be leased or bought by the
| Pennsylvania. The story was whispered
| in quarters where Brooklyn is much
| bought and sold and for important peo-
pie. This, of course, does not necessarily
| indicate that ii must be true, but, at
| least, 1t shows that the insiders wished to
| have the stock advance. There have been
| rumors of such a deal for the control of
| the Brooklyn for several months past,
| but they have been considered premature,
| II not absurd. Another story regarding
| the Brooklyn was that President Rossi-
| ter is to be succeeded by a man named
| Greatsinger, Western railway man,
| who is not known ever to have had any
| experience with a traction line.
The coal securities continue to show
| weakness. Reading first preferred failed
to get above 1914 yesterday, and it closed
| at 721A. Others of the group nearly all
| showed declines, the much tipped" Fries
among them.