The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-16

ancc in the market yesterday. but in
stead the strongest and most ouoyaht
market yet seen in the entire boom, WIN
large gains all over the railway list ana
in many of the industrials as well, ana
with many new broken records Tor top
prices The coalers, led by the trles'
opened at large advances, the SouthII
western securities generally all shoWen
gains the grangcrs, and especially BUR
lington, were active and buoyant among
the industrials, Sugar, Consolidated Gas
and Tch-cco were the features; Gas ma"-
ing a new high pLice f5TT tne prt,s s.s,it
moVCmentat 2l2 and Tobacco getting aDoNe
l26 There was nothing new in the sltutl-
tion, and it is to be supposed that thf
satisfaction over the Increased dlNldtIld
for St Paul, together with the general
bullish enthusiasm born Of the long up
ward movement in prices, WAS the cause
of the continued advance. Inc phplic -
now buying stocks eagerly, althousE IL
refused to do so a few weeks ago "ii'I
prices were much less than they are INV
Many believe that the top level for me the
nr.sput has been reached. hut nat uiaiIS
after So many failures of the reaction 10
appear there is much hesitation IN selihs
out long stocks and in going snort VI .n
market. All things are p"sSlple II. a Iii III
market Ii might be said almost llat an
things are probable. Therefore tht DoVih
may continue into next week WIN hdIuIS
"A tremor of reaction. the SITUATION nov
short sales before the close TO-DAY. me
hank statement can hardly fan TO pe
bad showing. as the banks nav toSl
money all the week-about S5roo,VVV, II Is
said.
burlington continued the entirely re-
nlarIlable boom begun more than "sSh
ago around l45 II soon sou ao o5ns, of
Thursday The talk of per cent olNi-
dend is continued persistently' ana az
though this advance IN the rale IL no
probable at this time. the ruinof ~. ~ a
notent one while the boom is on. IhyIe
are also renewals of the story that tne
system is to be taken in by the Northelh
Pacific and the Great Northern. ne Sc
curitles of these two lines advanced yes
terday with Burlington.
ON the other hand St Paul and Rock
Island were weak all day. and 1t IS cas-! 70
be seen that there is some 1eahHilS ~
both. Whether it will be large enough 70
keen back the boom that many expect III
both II is impossible to say as yet
The feature of the industrial list was To-
bacco Trust. which soon advanced 10 ~
The numerous Dullish arguments regafIt-
ing the stock are having their ELECT WIN
the potent aid of shrewd manlpuial N
Consolidated Gas doomed to az carry IN IN
The dav. and friends of the company sald
that it would be likely to get mucn Ilsii ID,
! in The near future. Sugar went ao9Ee IA =!
shows much strength, however
The Fries opened up. but later sold on
somewhat The preferred was above % IN
,ha first quotations. and it sagged from
that level nearly point me rumor o.
per cent dividend for the preieILe' -
again heard. Others of the coaleis tSok
the same course. though at one uile tIisS
y-ers narticularlv strong when it was am
nounced that the miners Hau ueS4ueu
against a strike.
Yesterdays consolidation rumor was that
the Wabash is to be included in the South-
western deal with the Missouri Paclhc the
ST. Louis Southwestern, ana the Missouri,
Kansas and Texas. All of these securities me
were strong. though there was some SELL
ing in the last hour of the day.
The steel securities. instead of partici-
pating in the general boom, were actuaIy
off 10 prices tower than any recently
reached by them. Federal Steel common
went below 20. and Wire common TO
around IS Federal Steel preferred showed
some strength
The Chicago Terminal securities came
into prominence among the many row
priced issues taken up during the day;
The preferred advanced three points ana
the common one point. In good quarters
II Vas said that these stocks are hkely
to 90 much higher. MIR. Hartman prop
ably has some good plan for getting out
4
that there IS q Union Station plan OF
some kind for the many systems using
the Terminal lines. The Terminals are
not booming for the hrst time IN thelf
history. The preferred SOLD at ~ ana pct
ter at one time.
The New York traction securities were
one of the features of the market. Man
haitian sold ex dividend ] per cent ana
recovered the. dividend early i'll the day.
1t sold at 121 3-S, high at the close of
the day. Brooklyn doomed up TO 81, ana
also closed at the top. metropolitan ad-
vanced to l67. and then sold of to l65 is.
The many TIPS that these securities are
10 have an advance may be realized in
time if the bull market continues long
enough. but as far as anyone can Judge
from the outside II will be simply an adj
vance because everything else is going
mn. The group has been one of the most
unsatisfactory in the entire stock mar
ket list during the past three or four
months.
Up to the present time the statement
that the Pennsylvania Railway has Sc
cured control OF the baltimore and Ohio
does not seem to have impressed the
street with any new respect for The Bal
timOre and Ohio securities. They have
both been decii idly fiat in the big bul
market OF the week. There are several
reasons for this HAT might be suggested.
One is that the PENNSYLVANIA people have
not the reputation of being generously
disposed toward the minority securities
Of lines which they acquire. 1t is said.
for instance, that the Pennsylvania rep
resentatives on thu board Of the Balti-
more and Ohio at the present time have
been against the declaration of any diVi-
dend on the common stock at this time,
and that they We're overruled in the vote
Of the directors on the question. 1t is