The times., 1901-03-09

The GrnuEcrs the Features Under
the Influence of Heavy buying
Southern Hallway Dividend In
crcnsed-AnthruciteC COaIers Heavy
NEW YORK. March S-Prices advanced
in today's stock market. but there was
very Hltle I'm the news to account for the
upward movement Such sudden changes
Of form as marked today's dealings in
contrast with Jnose OF yesterday have for
a long time past been familiar phe-
nomeua.
The market opened under the super
ficitlly unfaN or5hle influence of a ma
terial decline i'm American stocks in the
London market and upon the opening of
business here foreign houses We're sellers.
although to a very moderate extent.
Practically the lowest prices were made
in the initial dealings. Subsequently buy
ing Of a substantial character appeared in
nearly every quarter of the market, under
which a general advance took place. as
there was no pressure from outside selling
and very little Offering of stocks except
by the room traders
Interest was fairly well diversified, al
though the steel industrials We're again
left severely alone. Sugar Refining, on
the other hand was one Of the most
active features Of today's market and was
extremely strong. with. however, no news
or gossip attending its course. There
was also noted a sharp recovery in
Pressed Steel Car, and American Car
Foundry was strong.
Active dealings were conducted in the
so-caIled specialties. nearly all of which
advanced. Conspicuous features in that
quarter were Amalgamated Copper, West
ern Union. Tennessee Coal and Iron, and
notably Consolidated Gas. Sharp rises
were noted in all of the local traction
shares. with heavy dealings in Manhattan
and Brooklyn Rapid Transit. Ideas re
SUectiHg the revision of the franchise
taxing law seemed TO be the main in
fuence i'm the dealings in these stocks.
The bulk of speculative interest cen
tired, however il the railway list par
ticularlN in the grangerS- st. Paul, Bur
lington, and Rock Island We're all decid-
edly strong and active. The dealings in
Rock Island and St. Paul appeared to be
vances in the rates Of dividend. while as
regarded Burlington and Quincy pur-
chaseS OF the stock appeared to be based
upon prevalent notions that new interests
were likely soon TO make their appear
ance in the management.
The Anthracite Coal shares were all
comparatively heavy, presumably on ac-
count Of the uncertainty as to the issue
Of the threatened labor troubles in the
Pennsylvania coal fields The bituminous
coal stocks, on the other hand, were
firm, particularly for Hooking Valley.
Chesapeake and Ohio, and Norfolk and
" Nestern.
The dealings in the general market were
not upon large scale in comparison with
recent averages and the trading appar-
emily followed the same general lines that
have prevailed for a long time. Notwith-
standing the general expectations that to-
morrows bank statement VIII show a
heavy reduction in surplus reserves, the
probable showing attracted less discus I
sion than IT did yesterday and could
hardly be cited among the influences in /
Jodays dealings. Money was in liberal
supply for all periods and sterling ex-
change was firm. Only few interesting
statements Of railway traffic were sub
mitted. The Southern Railway directors |
today increased the dividend on the pre-
ferred stock TO 2 per cent semi-annually.