The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-17
RICH MEN BOOMING STOCKS
The Market Aggressively Strong
Under Powerful Leadership.
Advances of I TO q Points in Active
securities-BuriinEt mt Highest
Price in Recent Years - other
Quotations Bonds in Demand.

Price IN ttcehi tars - o'htf
Quotations Bonds in Demand.
NEW YORK March 16.-The stock mar
Eet today was aggressively strong and re
flected active leadership by powerful in
terests and further pressure of invest
ment capital. The dealings were well dis
trihuted and in the two hours of business
rose to the average proportions of full
days operations The trading in bonds
was also considerably above the usual
ratio of activity FOR half holiday and
in this department continued strength was
also discernible.
The conditions noted unquestionably
bore the imprint of the renewed inter
est on the bun side of the account by
the important Western speculative con-
tingent, whose views regarding the Sc
curities markets have been shaped by
knowledge Of the pressure of traffic on
all of the great railway systems that CEN
tire at Chicago
The abundance OF money throughout
the country favorable prospects for the
winter wheat crop. large export demand
for cereals. strength of the iron and steel
markets, and important beneficial results
to the railroads of the many combina-
tions that have been perfected, or are in
progress, are fully appreciated by opera
tors at the Great Western financial CEN
tres. 1t is an old axiom that Chicago,
whatever mistakes it may make in other
speculative operations, is always right
on the grangers.
Today's market. however, showed other
substantial support, which was credited
10 some of the prominent capitalists who
have just returned from their winter va
cations. and who are understood to have
been celebrating further plans in the rail-
way world
A feature of the day was the interest
taken. in some cases at material adj
Vances, I'm the highest priced and most
solid investment issues. There was also
considerable improvement in number
OF the specialties. The street appeared in
different to the reports that the anthra-
cite miners would insist upon a recogni-
ton Of their labor organization by the Of
ficials of the larger anthracite coal min
ing and carrying companies, even at the
cost to themselves of a long and bitter
strike.
Selling of American stocks in London
which was attributd to exaggerated re-
ports of the friction between English and
Russian troops at Tientsin, with view
to depressing those shares, was also dis
regarded. and this was true of the bank
statement.
ne feature OF the entlTe market was
an advance, on exceptionally large trans
actions, in Chicago. Burlington and
Quincy. which were accompanied by re-
ports of a contest for the control Of the
property between some of the large pres
ent holders OF the company's securities.
and powerful railroad capitalists
II has been a subject Of daily comment
that steady accumulation of Chicago.
burlington, and Quincy stock was in pro
gross and rumor today reiterates the
probability Of a guarantee of a substantial
he ii don
iiugton, and Quincy led the entire mar
ket in extent Of trading. the transactions
IN II exceeding $1,000 shares and the stock
made an extreme advance of 6 points.
touching the highest price accorded In
late years At a reaction of a point from
the best figure it closed IL per cent
higher than yesterday.
The movement in this stock sympathct-
ically affected a number Of other high
priced shares and advances, which eX-
tended TO over points in Northwestern.
We're recorded in Illinois Central, Rock
Island, New York Central, and Conscli-
dated Gas. Other material improvements
were made in Chicago and Eastern MI
nuis, Canada Southern, New York, Chi
cago. and St Louis issues, Union Pacific
common, Minneapolis ana ST. Louis com
mon and Louisville and Nashville. The
extreme gains extended to per cent, in
the FIRST named. Louisville and Nash
willie rose to the highest price Of the year
The local traction shares were also
strong features I'm connection with rumOrs
that the Vanderbilt interests would short
~ appear in open control OF both Brook
lyn Rapid Transit and Manhattan Rail
way. The last mentioned came next To
Chicago, Burlington, and Quincy In extent
Of trading. the dealings footing up nearly
$4,000 shares
In the usually inactive list. progress
upwards WAS made in American Car and
Foundry preferred, Chicago Terminal pre-
ferred, Colorado and Southern. Kansas
City Southern, Mexican National, and
Union Pacific preferred.
The iron and steel shares only
moderately active. but displayed an i'm
proved tone. Advances were recor-ed in
this group Of point or more In Amerl-
can Steel Hoop common, Federal Steel
common, National Steel common and pre-
ferred, and National Tube Issues. In the
outside market, United States Steel Cor
poration stock when Issued was more ac-
tive than for some time past. at adyanc-
ing prices. The common rose to 90 3-s and
the preferred TO 81 l-2, 10th issues closing
at the best prices Of t,ie day. 1t is learn
ed on undoubted authority that the eSten-
sive Rockefeller iron properties are to
be merged into the United States Steel
Corporation.
The leadership in the industrial depart
ment was taken by American Tobacco
which closed 81 peg cent higher on
transactions in excess OF 5000 shares
Sugar Refining was exceptionally dun
and after some irregularity finished a
shade higher net.
The weekly statement Of averages of
the associated banks was considered by
the street to be negatively favorable. in
that the loss In cash was about S.Od.ybJ
less than had been expected. while de-
creases In loans and deposits were shown
large enough to reduce the decrease in
the surplus reserve 10 only S1l4.675. The
decrease in lawful money was s. Ia. 100,
the greater part in specie. The net re-
suit brings the surplus reserve down To
siO.OJ2 coo. as compared with surplus Of
s. 6s6 425 Tor the corresponding week "A
year ago. AS was the case the previous
week the loss in cash was entirely due
to the collections by the Sub-Treasury
The closing of the stock market
active and fairly buoyant in tone.