The times., 1901-03-21

1
| that the Great Northern will lease the
| inc. this desire to take profits was en-
| HANGED. The break began on Tuesday,
| as stated yesterday i'm this column IL
| continued with little interruption all day
| yesterday. The low price was l62 ana the
| recovery from that level was less than a
| point at the close. The general tendency
of Burlington is almost certain TO pe
downward from this time, at least Tor
vcral days. Il is not impossible that
| if may react to around its high price as
stocks often do after first break on
such an advance profits should be taken
| by those that have not already done so.
With the rights recently declared on
Burlington the stock virtually reached
one IL was a tritie oVerdone, in all
probability. Later, on the next upward
movement, the stock may attain to
still higher level
The other grangers were irregular.
showing strength at times, and at times
good advance to 153. the highest price
recently reached by il, but later sold off
to 15lH, and seemed inclined to accom-
pany Burlington on its downward course.
The AtChisons opened strong, but later
went off. and they closed with net losses
for the day. Rock Island made a new
high price early in the day, 1909. but
before the close it had begun to break,
and more than two points were lost.
Missouri Pacific crossed par the price
bcariShly inclined on It. and that at the
same time has been predicted with much
confidence by its friends during the past
two or three months. The high price
reached was 101, and the close was
fraction above the century mark. The
Greater Missouri Pacific" talk and the
story that the dividend will be established
at the rate Of per cent in the near fu-
tuTe are responsible for the boom in the
stock. It is probable that 1T viii go off
somewhat before it gets much higher
ggra ha-1 l,vrcf f,e-ss. 2 Il
Will sell at 800 during the coming two
months. Northern Pacific was buoyant
At the opening Of the day, but reacted
sharply before the close. The cause of
the opening boom to S9I4 was a story that
the preferred stock is to be retired This
was not sufficient to cause immense profit
taking in it during the entire day. The
low price reached was S6l4 and the close
was SIS
The steel securities were features yes
terdaE. 1t was announced during the
! day that the quotations recorded here
after VIII be in the certificates of deposit
and not in the old securities, unless the
fact be mentioned specifically. The spec
GlltiNe trading after this announcement
| naturally was confined almost entirely
| TO the deposit certificates The prices of
the certificates, and of the old securities.
too. held their own well during the day,
but did not get to new high levels. The
same was true of the new steel securi-
ties ''on the curb There was some trad
that the stocks might be deposited yes
terday, the last day of the deposit pc
riod, as fixed by the syndicate.
It was rumored that there would be an
announcement last night or in the near
/ future from the Morgan syndicate rela-
tive to the success Of the merger plan so
far II is stated that about 90 per
cent Of the old securities Of the compa-
mes to be taken in by the trust have
been deposited. This, of course, ensures
ane g.F IL ll,r,
of the consolidation are said to be work
ing smoothly. and people close to the in
side express the opinion that there Will
he no hitch. AS to the outlook for the
friends are most hopeful. Mr. Keene is
said to be an enthusiastic bull on them,
ana especially on the preferred shares.
For the present, at all events, il is prob
able that they will be advanced well. If
only for business reasons. There is
large block of them TO be distributed TO
the public.
The stock that showed the most
strength yesterday, with a good net ad-
vance for the day, was Brooklyn Rapid
Transit. The stock was strong at all
times and especially during the afternoon,
when the general list was weakest. The
top price reached was S57s and the close
was at S5$1. The close Of the night be-
fore was 81 and f. fraction. The reason
for the particular buoyancy of the stock
was a rumor, well circulated, that the
company is TO be leased or bought by the
pennsylvania. The story was whispered
in quarters where Brooklyn is much
bought and sold and for important peo-
pie. This, Of course, does not necessarily
indicate that il must be true, but, at
least, 1t shows that the insiders wished to
have the stock advance. There have been
rumors Of such deal for the control of
the Brooklyn for several months past,
but they have been considered premature,
II not absurd. Another story regarding
the Brooklyn was that President Rossi-
ter is to be succeeded by a man named
GreatsingeT. a Western railway man,
who is not known ever TO have had any
experience with a traction line.
The coal securities continue to show
weakness. Reading first preferred failed
to get above 73lR yesterday, and ii closed
at IN Others OF the group nearly all
arnnnp fherl