The Montgomery advertiser., 1902-03-28
WALL STREET REVIEW FEvERISH SPECULATION IN COLORADO FUEL. Violent Drop of 5ss Said to Have Been Made Through Methods
 of the Professional
 Element.


 Been Made Through Methods
 of the Professional
 Element.
 NEW YORK. March 27.--The feverish and cratic speculation in Colorado Fuel occupied the largest share of attention on the Stock the price of this stock alleged to be due to the desires of the members of the pool a renewed advance in the stock. A more log cal explanation was found in the admission to the Stock Exchange list for the first time today of the convertible bonds of the com pany. There has been very active market on arbitrage for these bonds on the curb for time. due to the fact that they were considerably lower in price than the stock was quoted on the exchange The operation con- sisted in buying of the bonds on the curb and selling of the stock on exchange. It was nec- essary to borrow stock for delivery until to- day when the convertible bonds became a good of the exchange. The bonds also declined sharply from last nights price on the curb but 1t was noticed that they were held well courage the conversation of the bonds into stock. Nest to Colorado Fuel. the principal activity was in Amalgamated Copper. for which there was active demand. in which brokers usually employed by inside interests were conspicuous. The movements were be- lieved to be directed against the short inter est The stock lost of the gain and Colorado Fuel recovered good part of it's loss all
 
 close. An active demand for sugar sprang up later In the day. apparently based on the ad- price Tse of nabrsc,s s11Tss negotiations between the movement in the coalers and caused general advances in the group. Reading also helped by its good earnings statement for February. The continued camness in the money market. while the demand was being a nf Q " ha been present to the minds of speculators all the week and induced not a little covering railroad stocks had the advantage of this movement but the general market was ex- on the eve of a prolonged holiday. The upi ward movement was renewed in the Goloraso jumped SIS. Keokuk and Des MoinTs s. Rapid Transit sas and American Cable ? 1hs Ths the stocks. which had been heavy early in the day and wiped out most, of the gains e for or Bay sne benture B's from widely Scattered sources They rose lh net and thss debenture As rose value). s4.6io.ooo. The recent restriction of operations in stocks flo the professionals has 1t was to be shfrt week followed by an in. days abroad: Tong long period % without % an open ,p market in vikhch to close accounts in the event financial <World always induces caution and a closin8of accounts. Many of the brokers have antlT1ated the coming holiday by starting away on trips but some of the large capital lists. whose actions are watched closely for tons. giving rise to the hope that important operations in the stock market would abe buying on Monday which was short-ived There has been general acquiescence in the waiting attitude of the market in view of seV eral doubtful factors hanging over it. The money situation was the most imp,e1iate of these doubtful factors. Call loans with which stocks held made day preceding a holiday to carry over until the day of sumption of trading and for this reason alone the rate is likely to be run up somewhat in placing loans at such a time, as the forces of the depletion of the bank reserves at work and small surplus on hand have kept the trad furry in money Thursday and has been repressve influence. The varying phases of anthracite miners and operators have been followed with attention and have had greater influence on the market at large than was indicated in the movement of the stocks of the anthracite carriers themselves. Conf dent assurances have been expressed in Wall Street that there would be no strike, but the strong opinions to the contrary expressed from the miners had some ultimate effect on senti- ment. The developments of strike at Low ell among textile workers and demands for increase of wages among New England shoe operatives have helped to keep attention on tional suits in State courts against the North ern Securities Company has kept alive the ap- DfeneDSlOn SurTOunQ1ng that important problem and the testimony given in law suit by the principals in the great Northwestern Rail road contest has not had a reassuring effect to results achieved by that combination the present relations which the outcome The activity of the Interstate Commerce Com mission in securing iniunctions against bates and rate-cutting by railroads and the announced intention to investigate the sub feet further have awakened fears that this may be a hampering influence upon railroad policies. The announcement of the United States Steel bond conversion plan has t.,nV, .nI tO Inx and Iaa kAN,, the subject of some perpexity and mixed sen- timent Reports from the iron trade that there terial that was urgently bought on contract point to the apprehension that there may be undue urgency in the recent buying in tine iron market not warranted by the assurance of future production. Judicial proceedings against some of the financial readjustment projects recently undertaken by large corpor- ations and the dispute methods of counting in the case of the Evansville and Terre Haute have had a disquieting effect on exerted by the reports of poor crop conditions in some of the Winter wheat States which is a reminder of the sensitiveness of the market to that influence at this season. The resources of money market to meet the requirements or an interior currency demand the collection of Government surplus revenues and foreign de- mand for repayment of obligations Is still an open question. Further gold exports are tndi- cated by the week rise in foreign exchange. A number of special stocks have moved widely and feverishy during the week. but not as a reflex of any general condition, or with any marked influence the geenral market.
 The principal activity of the bond market has been in issue of a speculative grade. in which the movement has been irregular. Cnited States bonds were all unchanged as compared with the closing call of last week.
 Money and Exchange.
 NEW YORK. March 27-Money on call firm at Ans per cent; closed offered at per cent.
 Prime mercantile paper. 4lz45 Sterling exchange firm with actual business in bankers bills at 4S7%44. S77s for demand and 4.e5i4a4,s5As for 60 days; posted rates 4.S6 and 4.8Siz.
 Commercial bills. 4. .e4H64 s5l4,
 Bar silver. 537s; Mexican dollars, 43A. Government bonds. steady; State bonds, in active railroad bonds, irregular.
 New York Stock List.
 Atchison. pfd. .............'............. 97is Baltimore and Ohio .......................lo o6as Baltimore and Ohio pfd. .................. 9+%4 Canadian Pacific ...................... l5t Canada Southern ............,..... ..... 87