The age-herald., 1902-02-26
PROFIT TAKING
 AMONG TRADERS Stock Market Was Again De- voted to Obscure SpecialtieS DESULTORY SPECULATION As Whole the IndustrlaIs Were of Little Significance and the Tone
 Was Irregular-AmaIgan-
 ated Copper Gains Point.

New York, February 25.-Today's stock market was again largely devoted to oo- scure specialties both in the railroad and Industrial lists. Most of these showed ad- vances and the entire lack of explanation of movements pointed to movements by speculative pools Some of those which have advanced heretofore were under going a process of profit taking and the relapses thus caused were sometimes ex- ceedingly sharp. Thus an advance or s% in St. Joe and Grand Island were ab- ruptly wiped out by two or three sales at the last which carried the stock a frac- ton below last night and the first pre- eerred after rising 1A relapsed 3%. simi,ar abrupt dip was made last night by $hicago, Indianapolis and Louisville and that stock moved up % but lost most of It. The minor stock which were strong today included the Duluth South Shore and Atlantic stocks; the Ann Arbor stocks, Fort Worth and Denver City Stamped, the Chicago Terminal stocks Chicago Great Western, Kansas City, Southern preferred, the American Lin seed stocks, Glucose, rubber goods, Amer lean Grass Twine, Twin City Rapid Transit, Westinghouse Electric common and first preferred, and General Electric. Gains in this group ran from to points. There were losses of from to points in profit taking in a number of similar stocks and National Salt down several points from it's last sale.
 There was desulatory speculation here nnd there among the high-priced indus- trials, and in one or two groups as a whole, but they were of little significance, and the tone was irregular. Amalgamated and sugar were inclined to heaviness the first on reports that the purchase or mine reported yesterday had been given undue significance, and the latter on shao- lnG of prices on refined sugar.
 Amalgamated rose suddenly point over last night at the last Brooklyn Rapid Transit was notably strong. The short in terest seemed to be intimidated by the large borrowing demand for the stock which has been supposed to be for young purposes at the coming meeting. The iron and steel industrials were in good demand on trade conditions, but an abrupt re- action in Tennessee Coal at the last, which carried 1t below last night, affect sd the other groups The most notable movement of the day was in Lackawanna, which was lifted 8 points a result of
  report. Other coalers responded moder- ately. In the Readings the speculative pool was buying the second preferred, while selling the common. The basis of the speculative In these stocks Is the sup position that the second preferred is to be converted one-half into the common and one-half then to the first preferred. which would fix the value or the second preferred midway between those of the common and first preferred. The strength of the specialties kept the general under tone firm, but the dealings in the stocks of the great railroad companies reflected no convinced opinion on the prospect of any great changes In future conditions.
 The bond market was fairly active and hrm Total sales, par value, $2, 445,00O
 United States new As advanced IS per gent on the last call
 New York Stock Market.
 By Private Wire 10 Murphy & Cn.