The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-29
new STEEL STOCKS LEAD
Heavy Dealings in the United
States Corporation Issues.
The Higher-PricedA Anthracite shares
Enjoy Advances ON the Strength
of Reports of Peaceful Settle
ment of the Miners Grievances.

NEW YORK. March 2S.-Perhaps the
event Of today's stock market was the
Introduction of the shares Of the new
United States Steel Corporation. The
much broader and more substantial mar
kct which was in consequence furnished
for those shares resulted in tremendous
transactions in them at advancing prices
II perhaps goes without saying that
actually nothing that was new regarding
this great property came to light today,
and the course of these stocks was APP
parelltly owing altogether to considera-
tions of intrinsic value growing out OF
the now perfected amalgamation. AS was
to be expected. the shares of those COM
panies taken into the consolidation re
fectsd the rise in United States Steel
In pronounced advances.
The day I'm the market was more than
ordina rily replete with incidents OF m
terest. The virtual settlement of the
threatened labor troubles in the anthra-
cite regions was a matter of general con-
graduation, and the announcement was
followed by sharp advances in the higher
priced anthracite coal stocks, while, on
the other hand, the junior issues of the
Erie and Reading Companies reflected
quite heavy proft-roalizing sales.
There were renewed tremendous deal
ings also i'm both Northern Pacific and
Burlington and Quincy, on the belief that
control of the latter road had been ac-
quired in the interest of the Northern
Pacific but the public at large was with
out definite information in this respect,
and the reports current We're without any
other substantiation than that furnished
by the stock tape.
The market opened favorably, infiu-
enced by the substantial advances shown
in the London market for American
stocks and upon the opening of these
foreign houses were general, although not
very large buyers here. on account of
the absence of positive information re-
garding the status of the so-called Bur
lington deal and the want of definite
knowledge as to the result of the confer
ences held with a view of averting a
strike in the anthracite coal regions,
quite heavy selling appeared after the
opening.
The subsequent rise in Northern Pa
cifc and Burlington and Quincy, together
with the strength shown by the steel IN
dustrials, seemed to be the main cause
of the sharp rally which took place in
the course of the market during the fore
noon. The advance was commonly par
ticipated in. but the market, nevertheless,
showed no little irregularity in the later
dealings, the day being marked by sew
eral quite severe reactions.
While the dealings attained a fairly
large aggregate interest was not so well
diversified as it has been of late. being
largely concentrated in the stocks already
cited
Decided movements in the market other
than noted took place in Colorado Fuel
and Iron and in Western Union, both no.
taby strong without anything new in the
way of important developments bearing
on their course. and in the newly intro
duced misunderstanding Chemical stock.
which advanced on animated dealings.
In the Industrial quarter Sugar Rein
ing, while active, again moved within
narrow limits. and the United States
Leather shares attracted attention in a
substantial advance. The movements IL
the general railway list were somewhyt
Irregular
In the early dealings most of the So
called specialties. such - me Nickel
Plate isE;asv-, showed quite heavy pres
sure The btuminous coal stocks were
firm, with particularly sharp advances
appearing in the Wheeling and Like Erie
issues, on reports that that property had
been acquired in the interests of a con-
Meeting trunk line.
The local traction stocks showed a bet
ter sustained degree of Strength than
they have for a number % days with
particularly sharp rise appearing in Man
haitian Railway. The days routine de
velopments comprised Il number of in
toresting and exceedingly gratifying
statements of railway traffic. among
which the st. Paul made the most note
worthy showing.
The money market continued very easy,
Notwithstanding the further heavy with
drawals Of money from the banks through
the excessive Treasury repeiDtS