New-York tribune., 1901-02-22
WALL STREET AND EXCHANGES

and foreign houses bought on balance in the local
market. Trading. however. was light.
STOCK LOAN QUOTATIONS-Loan quotations
were: Atchison common. Northern Pacific common.
Manhattan and Louisville and Nashville. IA;
Atchison preferred. Chicago Burlington and
Quincy. Peoples Gas. General Electric. New-York
Central. Northwestern. Northern Pacific preferred.
Reading first preferred. Rock Island Sugar. Union
Pacific preferred. American Tobacco common
Continental Tobacco common. United States
Leather preferred Brooklyn Rapid Transit Ten
nessee Coal and Iron. Southern Railway preferred
and American Steel and Wire common. q Third
Avenue. Baltimore and Ohio common. Federal Steel
preferred and American Steel and Wire preferred
nat; Western Union. fiat and l: Missouri Pacific
Delaware and Hudson and Smelling common 1:
81. Paul and Union Pacific common. 1t4d2; Suelt-
ing preferred. fat and 1886: Denver common
I-2J6. and Federal Steel common. .
CHARACTER OF TRADING.-Few OF the big In
teTests were In the market. and speculation was
narrow and professional Wabash debenturs Bs
advanced buying. said 10 be for Mr.. Carnegie.
Tennessee Coal and Iron rallied inside support
and Wire sold down I'm tho early trading Chi
cago selling. Good suying was noted IN Federal
Steel The hard coal stocks weak under
liquidation % long stock. but advanced before the
close. Kumors OF differences between the Moore
interests and the Morgan interests in the steel
combination plans were not credited. Insiders
bought Manhattan. Western houses sold the
gTangers. Several large bull operators have taken
town OF so many prominent nnancfers has stimu-
lated bear activity among the trading element
Morgan buying was reported in the Southern Rail
way issues yesterday. also in Northern Pacific and
Reading. The Brady following reported as
buyers in Brooklyn Rapid Transit The steel
stocks advanced 28i per cent in the final trading.
and the whole list closed strong
GRANGER SHARES.-Banking interests idea-
thed with Union Pacific bought the Granger
shares The theory that Burlington will figure In
big railway combination is growing stronger. and
the retirement OF Mr.. Perkins a president en-
courages the belief that ideas involving an
extension Of Burlington's territory will the
future policy OF the company. II is said that the
recent selling I'm Rock Island came from inter
ests who had planned bull campaign In the stock
the story OF Rock-Island-Atchison combi-
nation Much stock was. il is understood ac-
cumulated. but the public did respond. and
hence the decline in the price. II is thought that
Burlington will soon be pushed above St. Paul and
that after the present period Of liquidation Rock
Island will work 20 40 better.
THE STEEL STOCKS-A number Of traders pro-
fessed To have information that the proposed steel
combination would not be acceptable the Repub-
lcan party. on this theory further selling of the
steel shares took place I'm the early trading West
ern houses being particularly active in American
Steel and Wire The delay in making the official
announcement regarding the company has
caused much selling Of the shares. but there
are some observers who believe that the actual
launching of the billion dollar company will induce
heavier selling than any that has yet been re-
corded Some people believe that Mr.. Carnegie j.
the only wise man i'm the steel field. II was said
yesterday that insiders had sold the common stocks
In order 20 provide money for underwriting the
new issue In the afternoon heavy covering ad-
vanced the steel shares > to per cent.
SOUTHERN RAILWAY.-The advance in South
ern Railway based on the expectation that
the company would either secure the Seaboard Air
Line else effect close traffic alliance with IL
I was lv hat intar
were active buyers of the Southern issues. and
the strength in these shares induced buying I'm all
the so-called Morgan stocks. Southern Railway
preferred is 70 be advanced 10 a 4 per cent basis
according TO present plans. A. A. Housman & Co
We're active buyers yesterday.
CORN PROSPECTS.-It is pointed out by a trade
authority that there will be nearly double the sup
plies Of corn to ship from the Argentine this year
that there have been for the last two or three
years. and there are large crops in the Danube so
that this country is 20 have considerable compe-
tition- Every country elevator all through this
State, Iowa and Nebraska is full Of sheIled corn
and II is hard work 10 make sales The export de-
mand seems to be almost standstiH. Efforts
are being made. however. for bull campaign in
May Chicago
CONSOLIDATED GAs.-The directors OF the
Consolidated Gas Company have declared the resu-
lar quarterly dividend of per cent
ICE TRUST To REDUCE sToCK.-A srec,a,
meeting OF the stockholders OF the American lee
Company will be held March l2 10 constde- r.
proposition 70 reduce the eompany's capital fron,
seoooo,ooo TO s4o.ooo.ooo affecting both ~. mr.
ferred and common shares P0
NO EARLY DIVIDEND ON PIPE ppr
FERRED.-An officer OF the United states c.,
Iron Pipe and Foundry Company saws th,, -.
unlikely that any action will be taken I'm the nesr
future regarding declaration of diviasns - -
company's preferred stock The comnanv - - 80
| two quarterly dividends of Ia per cent each e..
its organization. in 1899. the last havi,g -
clared April 80 1900
SILVER EAPohIs--The steamship Servia. sail
ing for Europe to-day, will take 4s2 600 opr.a
of silver. shipped follows: Tho United M.,.1