The times. [volume] (Washington [D.C.]) 1897-1901, 1901-02-06

shorts. who covered precipitately in Fed
eral Steel, Wire, and some Of the railway
securities. little weakness at the open
| ing on profit taking gave many OF the
| bears the hope that The advance was over,
| yut before noon the boom had begun again
| and it continued all the afternoon. The
outlook is that the opening today viii be
| at a sharp advance from the closing
prices. and it is not unlikely that the
boom may continue all day. reaction is
| due. however after the long rally and
profit taking on the bulges is advised by
many Traders who sell on the bulges viii
buy back on the declines for the NEST
part. as the big boom is believed not TO be
over yet.
Developments yesterday were all favor
| able. including coed railway earnings
statements, the adoption OF the tobacco
| schedule by the Senate Finance Commit
| tee. easy money rates, and the tip that
Atchison common stock will receive }
per cent dividend in June. number OF
railway deal rumors were heard in the
street, too. and there is a probability in
some of them that is attractive 1t is
said. for instance. that the Chicago Great
Western will be included in the deal in
the Northwest, and as it is quite certain
that there can be no surety of harmony
in the Northwest unless this line is in
cluded in the community of interest plans,
many careful people believe that the story
is true. The most important movement in
the market was that of the steel and iron
securities. all of which had rapid ad-
vances to the highest prices for many
weeks. The gossip regarding the steel
situation is all optimistic. too, and it
Eseems entirely probable that the insiders
have come TO some kind of arrangement
that will preclude cut-throat competition
in the future
The street concentrated a large part Of
its interest in this movement Of the
steels. The group has been dull for a
long time until this week and IT has been
the opinion of some of the most conserYa-
tive people in the market that the move
in them would come in the near future
Federal Steel advanced steadily from AZ
to 81 IA and closed at the top quotation.
| American steel and Wire common was not
quite so rapid but its advance, too. was
| good one. from a to 40 is. and II also
closed at the top price for the day. Ma
tional Steel common also went up nicely
and the preferred stocks all bulged. Ihe
coal and iron stocks were not so buoyanI,
but both made small gains. Mr.. Morgan
is supposed to be buying all of these Sc
curities II is said with some show OF
reason that he and his friends have
already secured control of the Wire Com
pany and that they will be able to make
a deal with Carnegie if they have not
done so already. The movement in the
group is believed TO be not over yet and
some Of the best people in the street ad-
wise buying the stocks en- all reactions.
The Great Westerns bulged much in
/ the same fashion at Atchjson common.
, The common Great Western advanced to
q IL. the highest price on record. and
closed at q Ia AS has been said IL
was rumored yesterday that the Little
! Granger is to be taken into the North
/ western deal and the rumor seems not
unlikely Moreover the earnings OF the
company is increasing steadily. The Sc
curities look good fer 4 further advance.
St. Paul advanced to 1872 SIS, and closed
above 1872 for the first time in several
DAYS. The company showed a good in
crease in earnings for the fourth week
of January Burlington was strong. ad-
vancing 10 147 l-2. the high price Of the
day. at the close There is tip that
this stock will have a further advance
today on account of it's selling "eX to-
morrow. The dividend and the value cf
the rights" are both to come off, making
a total of something over per cent.
The rumor that the New York Central
PEOPLE have secured control of the Man
haitian was denied yesterday by Central
I officers, hut this did not prevent good
bulge in the stock during the afternoon
The low price of the day was IA IL. and
the top 146. Later it sold off to 145 Il
Other Vanderbilt securities were buoyant
yesterday, including Union Pacific com
mon. which advanced to 81 and closed at