The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-10-18
THE MARKETS.
Wall Street Review.

New York, Oct. 11.--Another day OF ris-
ing prices characterized the stock specu-
lation today and the degree of confidence
that prevailed was n notable contrast to
the depressed feeling that existed at the
outset of the week. The formal announce
mcnt that Secretary Shaw had agreed 10
ptnvhase all bonds of the issue OF l9.o pre-
scented at the sub-trcasury today and to-
morrow was an effectual tonic TO inc
market. II was stated that a piock Oh ~,
0O0o0O had been accepted ana u was pr, Pre-,
dicted that fully twice ms. nuch more
would be Immediately turned III ny syn,
dicate at 1919, and interest which woui9
net about 1SS. All told Il was expected
that the tenders under this oifer WOulu
result in the release of about S2ooVWy
treasury funds which would be speediiy
available to the local money market.
With this prospect OF new material IN
pools went to work with consideranle
confidence and bid up their favorites
notably. The call money market showed
easc today and there were confident eNpec;,
tations that II good bank statement would
be issued tomorrow which would contrib
ute toward further each next week. Inc
usual crop rumorS respecting this or that
stock was put to good usage during tne
day but the most tangible assertion was
that n favorable traffic alliance had been
effected between st. Paul ana Ghipn ip', IL r,-
mored increase in the Norfolk and West
crn dividend and yesterdays interest," III
that stock was largely. shifted into other
quarters. The soft coal stocks as a group
were q notable feature of the day ana an
early rise of almost 4 points in Baltimore
and Ohio caused an increased demand Tor
other stocks of this class. Heavy opera
lions were resumed in Norfolk and West
ern at the opening but after rise to S0Ht
the stock was lipuidated heavily and soid
under yesterdays close for "a consiaeraD,s . ,,.,S
displayed in the anthracite coal stocks and
there was some disposition to reduce
dealings in them until the actual settle
ment with the miners is worked ont.
Trading was furiously active during the
first two hours and when the list showed
some disposition to lag. st. Paul was
brought forward as a leader. immense
blocks of this stock We're taken. lifting It
4is to 194h. Large orders We're placed
simultaneously in other trans -continental
stocks and there was ready RESPONSE IN
all other parts of the list. While there
was some shifting of interest from one
group to another the lessened demand for
special stocks did not undermine the
list. The United States Steel stocks he
came prominent after n long period of
neglect. and their rise started an active
iron and steel stocks. Late in the day a
heavy buying movement devslopea IN
the eastern trunk lines led by New YORK
Central and there was a. more general IN
u,liry for the higher priced railroads. IN
Guiding Illinois Central and the Grangers:
Top prices showed a fair sprinkling of
gains. reaching . points and over ana
there were many of Il point or more. The
closing was active and strong but some
of the leading features of the day We're
below the best. Total sales for the day.
1.10I,200 shares. Railroad bonds sNmpa-
thized moderately with the rise in stocks
and there was heavy buying in the specu-
latve issues. Total sales. par value.
s.9OO.OOO. T'nited States old As and new As
coupon advanced u and the new As regis
tered u per cent. on the last call.
The following quotations are furnished
The Tribune by Haight 6 Freese Co. 3D.
Sll Mears B,lilding. w. D. Runyon. man