The times., 1901-03-26
A DAY OF HEAVY DEALINGS
The Stock Market Week Opens
With Active Trading.

The Goulds nnd Junior Nanderbilts
Can~picuous Features in the Rail-
way LiSt-A Reaction Cnused by
News of the Southern Tornado.
NEW YORK. March 25.-The week in
the stock market opened with trading in
tremendous volume and with extensive
and general advances in prices appear
ing. From the opening of the market,
prHt realizing sales were in immense
volume so heavy, I'm fact, that OCCASION
ally prices yielded under the pressure.
An active new demand was commonly
reported, however, and the diverse
movements in prices furnished excellent
opportunities for quick trading by the
professional element. Foreign houses al
so dealt very heavily in the local mar
ket and on balance were buyers to the
extent OF about 10000 shares. Their pur-
chases. were, for the most part, in the
anthracite coal issues.
owing to the recessions, following on
the initial advances, the general course
of prices was rather irregular, but the
market retained the exceedingly strong
undertone which has characterized it for
several weeks. Its tendencies were re-
rarded as the more noteworthy, mas
much as there was n virtual absence of
any deN elopments of Importance over
Sunday.
The day's rumors and the ideas ex-
pressed in one way or another,~were iden-
ticaI with those which have been cur
rent for the past fortnight. Some of them
were strengthened today by the course
pursued by d number of more or less
affiliated stocks, but the notions in ques-
ton were not confirmed by any authorl-
tative statements with the course OF the
business session.
AS regarded the routine features of the
days situation, the money market con-
tinued easy and sterling exchange scored
a further advance, the course OF the lat
ter inducing discussion as to the prob
ability Of exports of gold to Europe.
Conspicuously strong features of the
railway list were the stocks commonly
designated as the junior Nanderbats ana
the shares of the Southwestern roads,
ordinarily described as the Gould proper
ties The advances in Canada Southern,
Cleveland. Cincinnati, Chicago and ST.
Louis. Lake Erie and Western, and the
Nickel Plate issues were almost sensa-
tional. and New York Central was also
strong and unusually active
Among the Gould stocks Texas and
Pacific made the best showing, While
Missouri Pacific and St. Louis and South
western were decidedly firm. Rumors of
amaIgarnation, such as were current last
week, again attended the advance in the
Gould stocks but there were no definite
reports current ia connection with the
rise in the so-calied junior NanderblIts.
Other notably strong features OF the
railway list were the Chicago and Alton
issues and the Southern Railway COM
mon and preferred. St Paul, which sold
eX-dividend of per cent today, was the
strongest ana most active feature OF the
grangers.
garding the status Of the threatened
troubles in the anthracite coal regions
did not prevent animated speculation
from being conducted in the stocks con-
cerned but their price movements were
comparatively limited. All Ct the btu
minous coal stocks were trm, with active
dealings in Chesapeake and ONO ana
Norfolk and Western, while the Wheeling
and Lake Erie issues scored fairly
rapid advance.
Reports gained currency about midday
that the city of Birmingham, Ala, had
been devastated by cyclone from the
Gulf of Mexico. and on these tennessee
Coal and Iron 0roke rather sharply its
course making it almost the sole eXcep-
tion among the so-called specialUes
which were otherwise exceedingly strong.
For the same reasons that depressed
Tennessee Coal, Louisville and Nashville,
after A further advance underwent
SnarD reaction. ElStWnerN among lffE
specialties Western Union showed decided
strength, and smart advances were noted
in General Electric and Consolidated Gas
There were large dealings in Amalga-
mated Copper in which instance the fiuc-
tuations were exceedingly erratic. apart
from the new litigation Instituted this
morning by the Gternsl utigant against
the Amalgamated properties, there was
no news bearing on the stock.
The dealings in the industrial quarter
were not particularly active Firm tea
lures there were the international Paper
issues, and. generally speaking, the steel
industrials. In the curb market there was
an exceedingly rapid further advance in
American Bridge issues on renewal Of
the reports that the American Bridge
Company viii be taken over by the United
States Steel Corporation on very favor
able terms.
The bulk Of the dealings among the in
dustrials, however, was in Sugar Refining
in which the price movements continued
indecisiye.