Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-02-26
OPENING WAS FEvERISH.
Conflicting Movements in the Steel Stocks
Were the Chief Cause.
Fluctuations In Special stocks Heavy
Selling Sends Some Down-Hsii.
roads Generally srong.

New York, Feb. 26.-The market
opened feverish and unsettled under the
influence Of conflicting movements in
the steel stocks. The sale OF 5000
shares Of Steel & Wire carried that
stock down from 4Sh to 20, compared
with i5 last night. On the other hand
American Hoop, on the sale OF 5,OOe
shares was quoted at 81 and 352,com-
pared with 50 last night. National
Tube rose IL. The other members of
the group showed fractional changes
both ways, The changes in the rail-
road list were also mixed, and the inter-
nationals generally failed 10 respond to
the advances In London. Prices Of the
steel stocks underwent rapid iluctua-
tons following the publication OF an-
th0rized details OF terms on which the
stocks OF the various steel companies
will be exchanged into the new United
States Steel corporation. A heavy sell
ing movement developed while the
street was analyzing the terms offered
which drove Steel & Wire 2A below
last night the preferred aud National
Steel ~ and lowered American Hoop.
preferred. and National Tube. points
below the high price at the start. Fed
eral Steel. preferred. declined ~ from
the best. while Tin Plate suffered a
point. American Hoop receded 10 80,
but Federal Steel ruled better than at
the start. Heavy liquidation OF the
smelling stocks lowered them and 3A
respectively for the common and pre-
ferred. In the general market prices
were easier for the railroads, but the
tobacco stocks were strong American
Tobacco rising ia, and Continental To-
bacco rs. Toward IL o'clock there was
a rise to 37l2 for American Hoop and
Steel and Wire National Tube. Ma
tional Steel and Tennessee Coal recov-
cred lGlie- The general market re-.
covered, and trading became very dull.
The railroads became generally
strong. st. Paul was the leader and
rose rapidly from As 10 Lola. Such
stocks as Burlington. Rock Island, Great
Northern preferred. Pennsylvania, New
York Central, Atchison, Kansas and
Texas preferred, Northern Pacific. Union
and Southern Pacific preferred gained
a point or more, and Delaware and
Hudson and Missouri Pacific We're bene-
fitted 2A and 2% respectively Mime
apOis and st. Louis stocks were active
and the common rose l and the pre-
ferred g The steel group was feverish
and under steady pressure. Tin Plate
lost 3& in all. and Tennessee Coal. Ma
tional Tube, Steel & Wire. common
and preferred, and Federal Steel ruled
at the lowest Of the morning nj 10 3
points under last night except for
American Hoop, General Electric ran
on, but rallied sharply. and Continental
Tobacco preferred advanced two points.
Bonds were lower In most cases.
There was q break In the local trac-
lions Of ~ 10 2A points. Steel & Wire
got down TO AZ and Tin Plate TO 81,
Great Northern preferred reacted 2h.
The whole market was lower In SYM
patty. In the late dealings American
Tobacco was marked 3ls to 1.2l and
the market hardened ST. Paul and
Great Northern preferred also recov-
cred sharply, but the steel stocks
showed renewed weakness. The closing
was active and Irregular and the days
net changes were very much confused.
CLOSING STOCKS.
Closing stocks-Atchlson IS: do. pfd..
s.; A. S & W., i0is; do, pfd,. %. Amer
lean Tobacco i.2l: American Tin Plate.
s.; DO. pfd., i,00% American S. Il, So;
do. pfd., sen; r. r.. r., "a: b. & o.. SIN;
burlington, lay; &. c. C. & st. L.,
76A c. r. l., ieh: G. @. W, 1871: c. s.,
81; Con. Tob.. 4Sis; c. & o., 39ik; A. s.
& r., S9& do. pfd,, ne: d. & r. G.,
S9&. d. H.. Les: Electric 2ln: +. s,
t5L. do. MD. 81. Glucose &C. Illinois