New-York tribune., 1901-04-14
fnan
The Financial World.

1t had closed the week before in state OF ex-
citement which made conservative people un
easy for the possible outcome; SO buying orders
were drawn out Monday morning selling
orders substituted. and many bankers callsd
loans. The result was a decline all round with
sharp breaks In one two prominent stocks
This apparently sufficed to clear the ground FOR
the next day prices started up again. and wen,
on advancing until Thursday afternoon, when
the market was dampened by a rise in money
rates. and various disturbing rumors of strikes
complications growing out of the Burlington
deal, etc. Friday and yesterday. however the
upward movement continued. though with soms
rregularity; and a bank statement better than
had been anticipated brought the week specu-
latively to a strong close.
There is nothing much to say Of this situa-
ton. beyond the fact that the market is a sur
prise to even the boldest operators. They are
almost dazed by the enormous purchasing power
deveoped-the explanation of which must be
sought in the unprecedented activity and ex-
pansion OF general trade which is only partially
represented in the constantly growing railroad
earnings. There seems reason, also, to believe
that have another big crop year before US;
for the winter has been ideal one for the
agriculturist over nearly the whole country. and
the spring opens with the most favorable re-
ports from all sections.
trated the now famous Burlington deal which
every day is to be- officially announced COM
pleted and has not been yet Until it is
nounced. there is still room for doubt gentle
man who is in position to know whereof he
speaks. says that the St. Paul deal three times
approached the same stage that the Burlingto
deal is in now, and failed at last; but he ex-
pressed the opinion that this time there would
not be failure as the intending purchasers had
been careful to strengthen their position more
than they had in the other negotiation The
rather rapid fluctuations which have marked the
movements OF Burlington stock in the market
through the week-up and down between Isl
and 192-probably represent the uncertainty
which still fingers about the outcome OF the
business.
RivaIing Burlington in public attention has
been Rock Island 1t has been rather wild
Thursday week ago. it rushed up nve points
to 1876 then broke TO 1iS and on Monday TO
AL Yesterday 1t was higher than ever. going
above 1876 All sorts and kinds OF market people
are asking who is doing the buying which Is
putting this stock up to such prices IL Is well
known there was a bull pool In it, which picked
m its stock low some time ago. while II was
comparatively inactive But this pool sold out
before the price got into the 4os. ana SONS
members of it went short-nuch to their ois-
comfture Who has been doing the Dig buying
from 135 up?
One version is that it has come from fenn-
sylvania interests. and grows out or the burning
ron daal The Burlington has been the leading
western connection of the Pennsylvania but II
:, ,s now TO become the middle link of the Nor
san-r,tu transcoutinentaI line. the Pennsylvania
nsonra have thought it necessary 10 strengthen
,ba,- nosition in the Rock Island TINS theorS
NAV or NAV not be true-it is current talk a
Wild r,,n,or got afioat one day. when the STOCK
WAS i1upins most that the Presldeh1 anu sN
Of the directors had resigned. and the ROAD "oui'
h. controlled by the Atchison In conneceion WIKI
the Pennsylvania
The two latter roads are associateo tosetno'
In the mind Of the average wall street "~A-
This is because people idenuneo Win 'he
sr,van,a have always been large holders OF and
.,.ro,ore in Atcb,son securities 1t has been as
,a,r,au.,s however The Atchison has an n
aensna.nt position and the system Is certainly
,,-sA enouzh TO stand alone. being one OF 1he
biggest in the country. 1t scarcely needs pro-
tactor It is noticeable how steady It's etocks
are The common was in large supply ABOUT the
time the dividend was postponed. anu tne p'io7
vent off for a week or so. The supply seems
absorbed. for the price is above 6o again, and
looks like going higher
=, resneet 10 the coal stocLs. fears OF strfks
on the Jersey Central kept them DUH "heh
this appeared TO be averted. they ad'anceu-
D.,.uara & Hudson got above $50. Gossip
about this stock is that block OF IL necessary
70 give the New-York Central the amount tr
naeds Is held by a financial institution priee
Of something over 200 has been bid for 1T; but
,bs ovners want a considerable raise on this-
The Readings have been strong. but they appear
20 ha waiting for a bull leader. Cndouotedy
tha, individual will soon be found: and wnen
,bes. stocks do start they ought TO be the mora
acttv. from the long wait they have had
In the group of fractions. there are rurnors
that certain causes for keeping Metropoh'an
down.. is four points below its price IN Janu-
arv-are about TO be removed The company IS
ALL clear of debt in connection with its Third
Avenue purchase. and improvements. and has
comfortable balance in bank 1t sold IOOoo OF
its shares at 16o. realizing Sll ThiS
Maid for the Sc 600 900 Third Avenue purchase.
Sc 600 600 for electrically eauipplns its lines.
81 900 600 for the new power house. and left
81 600 900 over. In June, when the COLUMBUS
Lexington and Broadway lines are operated by
electricity it is estimated that there will be an
increase in net earnings or between SIX anu
eight hundred thousand dollars Gross earnings
are increasing daily The Third Avenue stock
IS a clear asset in the company's treasury. FOR
which the Metropolitan stockholders have paid
There is also valuable real estate TO be sold.
which Is no longer needed. The stockholders
are for these and other reasons, looking win
confidence for future good things
4 lively speculation in Amalgamated Copper
has been prominent feature OF the week From
a we'll Informed source II comes that the COM
nanv ha. secured several OF the mines whose
stocks are leaders in the Boston market
n was intinated here last week. that tie
steel stocks would probably take rest for q