The age-herald., 1901-03-19
STEEL STOCKS
 ARE AWAKENED The Stock Market Left all Con-
 servatiSm at Home. BULLS WERE ON PARADE Report That RockefelIer's Iron Inter- ests in Lake Superior Region Had Been Taken in the Combine
 Aroused Dormant Stocks.

New York March 1S.-The course of the stock market left all conservatism at home as the saying goes. Saturday bank statement gave pretty good assur- ance of an increased demand for stocks this morning. The public appetite was whetted by several announcements, whlch either came very opportunely for the pur- pose or were set afloat with view 10 their effect. One of the greatest difficult culties which the professional bulls nave had to contend with was the dragging tendency of the steel stocks, under the apprehension that when the new steel corporation stocks are introduced on the exchange they may prove weak and nave an unsettling influence on the general market The report that Rockefeller iron interests in the Lake Superior region were to be included in the steel merger therefore proved very opportune for the bulls and awakened the steel stocks from their dormant state into strength and ac- tvity It was very difficult to secure any authoritative confirmation of the trans action and not details were voucnsaleo
 
 the proposed capital issue of the United States Steel Corporation was involved
 The stock of that corporation was ac- tive and buoyant in sympathy with other stockes. There was a continuance or the excited condition in Burlington on rumors that the Northern Pacific had secured control of the line.
 It is confidently stated that the New York Central had secured control of the Manhattan and would guarantee a divi- dend of per cent. This statement re- ceived an emphatic denial from the presi- dent of the New York Central. It Will be seen hat these form the framework of the days very animated and buoyant market. Other movements were either di- recty related to these or were under their indirect influence. Thus the belief that Burlington had been substituted for St. Paul in the proposed adjustment or Northwestern railroad affairs received the co-relative belief that Erie was to be included in the programme. Hence the strong recovery in these stocks after their early weakness in sympathy with the other coalers. General Electric's advance was an outgrowth of the supposition that new control of Manhattan would hasten it's electrical equipment The rise In the other grangers was palapably in sympa- thy with Burlington, St. Paul alone hang ing back. Missouri Pacific seemed to be marked up in an endeavor to revive the strength of the Southwesterns, but the manoeuvre proved without effect.
 A number of specialties moved inde- pendently, including sugar tobacco, Con- solidated Gas, Peoples Gas and Amer ican Snuff preferred The New York Gen. ,. tral and St. Louis stocks, Pacific Coast second preferred, Lake Erie and Western preferred and Louisville and Nashville were all conspicuously strong. The weak ness in the coalers was due to fears of a miners strike. Great Northern pre- ferred reacted on profit-taking on the dec- laration of stock subscription rights The gain in the principal steel stocks extend- ed from 4 to points, and they held bet ter than any others. There were sales of trust certificates for the stocks deposited in assent to the plan of merger and the prices of these in some cases varied over a point both above and below those of the stocks. There was no explanation of this discrepancy There was some eVi- dence of short interest in the steel stocks and the progress of the transfer stocks In the new corporation makes the present stocks scarce for delivery. Burlington's extreme rise was 4% Manhattans AZ, and a large number of the other most promi- nent stocks from to 5. Northwestern preferred jumped T. The taking of specu- iative profits caused wide reactions at times but the undertone continued very strong to the close, although last prices of many stocks were notably below the best.
 The railroad bond market continued ac- , tive but was reactionary in spots on profit-taking Total sales par value, $6, s35, 900.
 United States refunding 2s advanced b per cent on the last call.
 New York Stock Market.
 By Private Wire to Murphy & Co.