The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-04
MANY SENSATIONAL GAINS
Tremendous Rises in Prices Char
acteriZe the Market.
Burlington Sells mt 1851 on Further
Consolidation Talk a Thirteen
Point boom I'm Delaware and Hud-
sop-RocL Island Above $50.

Point Boom In Delaware and Hud-
son-Rock Island Above $50.
NEW YORK, April "A large number
of advances. which might be correctly
designated as sensational, were scored in
this mornings stock market. Rumors
md reports Of one kind or another there
were in abundance. The joint rise in
Northern Pacific and in Burlington and
Quincy was commonly accepted as suffi-
Gent substantiation of the reports that
the Burlington and Quincy had been ac-
euired in the interests of the former road.
Burlington went up to 1881.
According to the generally accepted re-
ports current today, each 100 shares of
Burlington and Quincy stock is TO receive
500 600 in Northern Pacific collateral trust
bonds, hut some uncertainty appeared to
be fel: as TO the rate of interest to be
fixed.
Additional sharp mover ats in this
general group of stocks we~e noted in the
Omaha issues. Chicago and Northwestern,
ST Paul. Rock Island, and Union Pacihc
Very positive assertions that a lease of
the Delaware and Hudson by the New
York Central had been arranged could
p he heard today. and they were accom-
panied by remarkable advance in Della
ware and Hudson stock
These reports were to the effect that the
New York Central was to lease the Della
ware and Hudson on a : per cent dividend
basis for one year, and per cent there
after. AS in the case of the Northern
Pacific Burlington and Quincy matter the
market for these stocks furnished the
only confirmation of the reports which
could be had.
AS in the instance Of the granger roads,
there were a number of sympathetic
movements noted in affiliated stocks
Thus. Delaware, Lackawanna and West
O. ern and New Jersey Central rose very
sharply while the rise in Delaware and
Hudson was in progress.
The movements in the general railway
list were by no means uniform. Notably
strong features were Louisville and Nash
Vile Norfolk and Western, Pennsylvania,
Texas Pacific. and Erie common. Not
withstanding the persistence of the re-
ports of an amalgation of the Gould
properties in The Southwest Missouri Pa
cihc dull and somewhat heavy. The
Reading shares also failed to participate
in the strength shown by the other an
ihracite issues.
As regarded the remainder of the mar
ket, rather irregular movements were re
corded. Dealings in the new United
and both issues had a somewhat reac- /
tionary tendency. The trust company GER
titcates for the old steel stocks, however, !
continued firm. Sugar Refining ana the !
International PAPER issues were steady. |
The dealings in the so-called specialties |
developed few features of interest.
Consolidated Gas advanced sharply in |
the early dealings, but subsequently lost |
a part Of it, and the same was true of
Amalganated Copper. Peoples Gas was 1
firm on the reelection of the present /
Mayor of Chicago, who is supposed to be .
not inimical to that corporation. Deal !
ings in the Southern iron and coal pro- !
dueing companies stocks fell away ma
terialy on doubts as to the immediate /
amalgamation of those properties. No |
particular gossip attended the dealings in |
the local traction issues, which for the |
most part were rather reactionary.
a factor of weight i'm the general |
strength Of the market was the action |
purchase yesterday Of S2GD0.0e0 of Gov
erument bonds, to be applied TO the sink
ing fund, and additional purchases were
announced today Notwithsta nding these
purchases the Government disburse-
ments on account of april L interest pay
ments the SubTreasury appears 10 have I
with them since last Friday about 81 5p.-
Wp The money market ruled at about
the levels prevailing yesterday. Add-
uonal engagements of gold for export |
were announced today. but owing to the |
ease of the money market they attracted
little attention. and had no appreciable |
effect on the market
Foreign houses were fairly large SELL |
ers in this market. and in addition the |
London quotations for the American
stocks showed declines in comparison !
with the local final figures of YESTERDAY |
The local market, however, was abso-
lutely unaffected by those circumstances
The dealings continued in exceedingly !
large volume, and We're well diversified
Win the the ,b.s |
of stocks which Jagged in the earlier
dealings recorded sharp advances the (
local traction issues being conspicuous in
these movements. Sharp advances in
Cleveland. Cincinnati. Chicago ana e.
Louis and Illinois Central were features
hock Island was sensationaIly strong
getting TO l5@s, and st Paul, after ali
owing 70 the fact that the stock is sell
ing tx dividend and tx rights was quoted
~ tie highest figures at which il has
sold in many years ''