The times. [volume] (Washington [D.C.]) 1897-1901, 1901-02-16

after the adjournment of Congress. Some
of the professional bears even went so far
as to predict a tremendous break in the
, market and espec ally in the granger
shares. Yesterday before noon bulge be-
gan in New York Central and Pennsyl-
| vania. short time after Burlington, the
| very dullest and most discouraging stock
on the list. commenced to advance; North
| west doomed with it in a handsome way;
Delaware and Hudson had a wild squirt.
| And shortly before the close the entire
list, under the influence of the buying in
| these securities, began to advance buoy
! antly. At the close what looked like
| genuine bull movement was under way
| again, and prices were at the top, in some
instances higher than at any time before.
New York Central, for instance, sold
| higher than II has at any time in fifteen
years. It may be that the professionals
| are right when they talk of a traders
! market, but If they are today VIII be an
! other great surprise, for before the close
yesterday the street in general had turned
| completely and was again full of conf
J dence The outlook now seems to be for
! higher prices today and a strong opening
| on Monday, if not for a continuance of
1 the boom next week The market has
! been very hard one for the general pub
made any money in it seem to be those
/ who have bought stocks and held them re-
! CARELESS of fluctuations. These can now
I sell If they wish to at the very top in
| nearly everything on the list. One thing
/ is certain: The people what have sold
| short have had very little success up to
| the present time, as the declines have all
! been short-lived and ended almost before
| the bears have got well short.
The street heard several interes ling
| stories yesterday to account for the boom
in the higher-priced issues Ghe issues 1t
had considered especially dead. One of
! these was that Andrew Carnegie was max
| ing heavy purchases of Northwestern and
| other stocks with the money to be real
| lied from his sales of Carnegie stock.
! That the gentleman was buying stocks
| there can be little doubt Another story
was that there is to be another deal
| pulled Off" One version was that The
/ Pennsylvania and Burlington are 10 be
consolidated and another made the North
western the purchaser of the Burlington.
| Still third group of rumors concerned
| the boom in Delaware and Hudson. One
| of these was that the line is to be abb
sorbed by the anthracite syndicate ard
the New York Central in common. 1t
| will be seen that the possible deals are
not by all means exhausted, and that to
| use the professional style of argument,
| If the insiders really believe prices are
going higher there are several railways
that can be bought up yet to keep up the
| interest of the public.
Aside from the deals. many of which
are TO be accomplished without a doubt,
| the general situation is superb and wholly
| in harmony with the idea of higher prices.
| The foreign trade statement for January
| was another record breaker The coun-
| try's balance sheet for the month and for
| the seven months of the fiscal year was
| by far the best ever achieved, and also
| much the best ever achieved by any coun-
! try on the face of the globe. The fact
| that there was small outward move
ment of gold during the month appears
| in its right proportions when this trade
| balance in favor of this country is con-
| sidered. AS a matter of fact this export
| OF gold for the month netted the sum of
| about $4,000, 600. where the bears had been
| predicting twenty millions at least. The
monetary outlook is all that the strong
est bull could wish for. Money was offer
ed yesterday afternoon on call at ! LIZ
per cent and found no takers.
The bank statement is likely to be
poor one, but it is not likely to have much
| influence on thu market. The banks ap
| parently have lost money for tine first
probability that the loan account will be
| largely increased.
The extreme movements yesterday were
in Delaware and Hudson, which opened
point up a. i59 and sold al high as les 81
gain of 10 points; General Electric,
which went TO 217 l-2; Burlington, which
jumped from 139 to 143 "a, and New York
Central which advanced from IA 1-2 to
AZ For the balance of the list the gran
gers generally advanced eXcellently in
sympathy with burlington, and the an
thracite coalers in sympathy with Della
ware and Hudson The industrials, with
! the exception of Sugar, were quiet, COM
paratively speaking, and some Of them
| showed net losses for the day.
Many careful people believe that the
! movement in Burlington will extend sew
/ eral points further. The stock is a most
attractive one for investment whether
there is any deal in sight or not. The
| earnings of the company are good and it
has given considerable sums to its stock
holders in the past. as it did this year, in
addition to the regular per cent divi-
dend. Rock Island also seems likely to
have some further advance. The Atchison
securities looked especially attractive
yesterday. The common closed at 81 rs,
within Is of the highest price ever
reached The preferred closed at SO SS,
only IS of from the high of last Wednes-
day.
New York Central sold at its top price
in the present boom yesterday, which is
equivalent to saying that it has not sold
so high before In the past fifteen or TWEEN
ty years. Pennsylvania was very strong
also. getting to 1872. There has been much
buIlish talk regarding these securities and
il has been based on an excellent array Of
facts as TO both companies.
The steel deal has not yet reached the
official publication stage but the people
that have been furnishing the public with
unofficial news regarding it state that the
developments are progressing favorably.
Whatever the situation may be the steel
securities opened strong yesterday and
held their own well, but showed no par
ticular buoyancy.
Again yesterday Shelters was errati",
but mostly weak, dropping from IS to
80 IS In a few minutes II is said that
there is still a hitch in the deal here
The Southern Railway securities were
strong and there are many people that
believe they win be among the best stocks
on thu list during the coming two months
| Developments OF Importance are promised
including the acquisition by the Southern
Of the Seaboard Air Line and the pay
ment OF dividend on Southern common
in the not very far distant future.
Another explanation OF the great buoy
| ancy of the St Louis and San Francisco