The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-02
A TREND TO HIGHER PRICES
Advances Noted in Many Quarters
of the Market.
Granger stocks Display More Than
Usual Activity-Industrinis share
In General impr0vement-For
casts of Today's Bank Statement.

NEW YORK. March 1-Today's deal
ings in the stock market as a whole,
showed an irregular tendency toward a
higher level of prices. The tone OF the
trading in the early dealings, however,
was extremely uncertain ST. Paul, for
example. opened fully ! per cent below
Its final level of yesterday. notwithstand-
ing the announcement at the close yester-
day in regard to the increase in the copi-
tai stock of that company, together with
the privileges to be given to the share
holders in that respect.
Union Pacific and Northern Pacific were
also under material pressure. with moth
ing apart from technical conditions OF the
trading to account for their weakness
With the course of the morning a much
firmer tone developed and number Of
spirited advances were noted in several
quarters of the market and notably in the
shares of the Southwestern railway com
paRios.
Missouri Pacific was a conspicuous fea-
ture and St Louis and San Francisco
and the St Louis and Southwestern is
sues also advanced notably, with substan-
tial advances showing in the Wabash
stocks and Texas Pacific.
The rise in this quarter of the market
was accompanied by reports that closer
arrangements would be established be-
tween the companies concerned, and by
rather definite assertions that the st.
Louis and San Francisco Company would
be taken over by the Missouri Pacific.
In another quarter of the railway list
noteworthy strength was shown by Ches-
apeake and Ohio, Norfolk and Western,
and the Southern Railway issues. with
nothing definite, aside from the dividend
expected on Southern Railway preferred
current in the way of news or gossip which
would account particularly for the course
OF the stocks in question.
All OF the granger stocks We're more
active than they have been for long
time. With the course of the day. ST
Paul recovered from its depression at the
opening and smart advances appeared in
Burlington and Quincy and Rock Island.
Observers OF the dealings in these stocks
asserted that the buying orders appear
ing therein seemed 10 be almost wholly
OF an investment character. although, on
the other hand. the existence of a large
short interest throughout the granger
group has long been evident
a number of smart advances developed
in the industrial quarter. conspicuous fea-
lures there being American Steel and
Wire common, Federal Steel, National
Tube. and American Tin Plate. An active
business was again conducted in the curb
market in the United States Steel Cor
pOration stocks
Sugar Refining showed the most extern
sive movements in the industr al quarter
s.length OF the stock seemed to be based
on the same circumstances which have
induced buying of ii recently. namely.
the reports that more amicabIe relations
We're likely TO be established with the
cou,paEy's chief competitor. together with
the idea that some advance might be
ordered in the dividend rate at the forth
coming meeting of the dire ctors.
Among the so-called specialties, note
worthy advances were scored IN Anal
-amated Copper and Consolidated Gas,
and the course of Tennessee Coal and
Iron suggested that operations for a fall
in that stock had been somewhat over
done. There was also striking advance
shown in Consolidated Gas.
No changes of general Importance de-
Veloped fin the days situation and only
few interesting statements of railway
traffic We're submitted. Although the
money market was unruffied. there was
more than the usual amount of discussion
in regard to the probable showing to be
made in the weekly bank statement to-
morrow. Preliminary estimates as to the
cash movement of the week indicated
that the banks have lost in the mean time
about s.. so, 900. There are. of course no
facilities for estimating changes in the
loan item in the mean time.