The times., 1901-03-17
RICH MEN BOOMING STOCKS
The Market Aggressively Strong
Under Powerful leadership.

Advances of TO Points in Active
Securitics-BurIiuEton nt Highest
Price in Recent Years - other
Quotations - Bonds in Demand.
NEW YORK. March l6.-The stock mar
ket today was agEressively strong ana re
fected active leadership by powerful IN
terests and further pressure of invest
Tuent capital The dealings were Wei ulS-
tributed and in the two hours Of business
rose to the average proportions OF tuli
DAYS operations The trading in bonds
was also considerably above the usual
ratio of activity for a half holiday and
in this department continued strength was
also disCcrnible.
The conditions noted unquestionably
bore the imprint of the renewed inter
.st on the bull side of the account by
the important Western speculative con
tingent. whose views regarding the Sc
curities markets have been shaped by
knowledge Of the pressure Of traffic on
all Of the great railway systems That cen
ire at Chicago.
The abundance of money throughout
the country favorable prospects for the
winter wheat crop. large export demand
for cereals. strength of the iron and steel
to the railroads Of the many comhina-
tions that have been perfected, or are in
progress. are fully appreciated by opera
ro~r at the Great Western financial cen
tres. 1t is an old axiom that Chicago.
whatever mistakes it may make in other
speculative operations, is always right
on the gransers.
Today's market. however showed other
substantial support, which was credited
10 some Of the prominent capitalists who
have Just returned from their winter va
cations. and who are understood to have
been Celebrating further plans in the rail
way world.
A feature of the day was the interest
taken. in some cases at material ad-
vances, in the highest priced and most
solid investment issues. There was also
considerable improvement IN n number
OF the specialties. The street appeared in
different to the reports that the anthra-
cite miners would insist upon recogni-
tion Of their labor organization by the Of
1icials Of the larger anthracite coal min
ing and carrying companies, even at the
cost TO themselves Of q long and bitter
strike
Selling Of American stocks in London.
which was attributd to exaggerated re-
ports of the friction between English and
Russian troops at Tientsin, with a view
T. depressing those shares, was also dis
regarded. and this was true OF the bank
statement.
The feature Of the entire market was
an advance, on exceptionally large trans
actions, i'm Chicago, Burlington ana
Quincy. which were accompanied by re-
ports OF a contest for the control Of the
property between some Of the large pres
cut holders Of the company securities
and powerful railroad capitalists.
Il has been a subject Of daily comment
that Il steady accumulation of ChiCag go.
burlington, and Quincy stock was in pro
Ertss and rumor today reiterates the
IrobaDiiityo of a guarantee Of a substantial
increase in the dividend. Chicago, Bur
Iiugton. and Quincy led the entire mar
Eet ln extent Of trading, the transactions
In il exceeding SlOy shares and the stock
made an extreme advance Of points,
touching the highest price accorded in
llte years AT a reaction of a point from
1he best igure il closed II per cent
higher than yesterday
Tho movement in this stock sympathet-
ically affected number of other high
priced shares. and advances. which eN-
tended 20 over 4 points in Northwestern,
Were recorded in Illinois Central. Rock
Island, New YORK Central. and Consoli-
dated Gas Other material improvements
were made IN Chicago ana Eastern IN
nuls. Canada Southern. New York. Chi
cago and St. Louis issues. I uiou Pacific
common Minues polls and ST. Louis com
mon and Louisville and Nashville. The
extreme gains extended 10 per cent, in
the hrst named. Louisville and Nash
Vile rose TO the highest price OF lN+ y ear
The local traction shares were also
strong features in connection with rumors
that The Vanderbilt interests would short
~ appear in open control OF roth Brook-
lyn Rapid Transit and Manhattan Rail
way The last mentioned came next 10
Chicago Burlington. and Quincy in extent
Of trading the dealings footing mp nearly
in the usually inactive list progress
upwards was made IN American Car and
Foundry preferred, Chicago Terminal pre-
ferred. Colorado and Southern. kansas
City Southern Mexican National, and
niOu Pacific preferred
The iron and steel shares We're only
moderately active. but displayed ~ I'M
proved tone. Advances were reCor<ed in
this group Of z point or more I'm Amel1-
can Steel Hoop common. Federal Steel
common, National Steel common and pre-
ferred and National Tube issues. IN the
outside market. United States Steel Cor
pOratiOu stock when issued was more ac-
tive than Tor some time past, al adNahc-
ing prices The common rose to 90 3-s ana
the preferred 10 - l-2. both issues closing
~ the best prices Of the day. II is learn
I'd on uudoubted authority that the eNteri-
sive Rockefeller iron properties are to
be merged into the United States steel
Corporation.
nent was taken by American Tobacco
which closed 81 peg cent higher on
transactions IN excess OF 5eeD ShaIeS
Sugar Refining was exceptionally dUlI
and after some iTregularity finished q
shade higher net.
The weekly statement Of averages OF
the associated banks was considered by
the street 10 be negatively favorable. lu
that the loss in cash was about I.0d0o
less than had been expected, while de
creases In loans and deposits were sho~r
large enough 10 reduce the decrease iI
the surplus reserve 70 only Sl4.6i5 he
decrease in lawful money was x2.l5o. 400
the greater part IN specie. The net re
suit brings the surplus reserve down q
S10Ng coo compared with surplus ol
s. 6sR 425 Tor the corresponding week
year ago. As was the case the previous
week the loss in cash was entirely due
to the collections 10y the Sub-Treasury.
Tho closing of the stock market va:
actfye and fairly buOyaut IN tone
New York stock Market.
Corrected dsily by ". B. Hibbs & Co, mem
Lers Of tie New York stock Exchange, 1919
Street.
Open. High Low Cos
4- Sfal 4 wire. 3sas 2g 3ss. -