Evening star., 1894-01-04
FINANCE AND TRADE.
Professional Element Still Controll-
ing Quotations.
SLIGHT ADVANCE IN THE COALERS.
Reports of Decreased Railway
Earnings.
GENERAL MARKET REPORTS.
Special Dispatch TO The Evening Star

Special Dispatch to The Evening Star.
NEW YORK, Jan. 4.-Introductory figures
today recorded fractional variations on
either side of last nights closing, and stocks
sold off during the morning on the efforts
of traders to market stock bought yester-
day. London was irregular and did moth
ing of Importance in our market. The bull
pool, said to have been organized for the
purpose of marking up values. did not ma
terialize this morning. and the professional
elements claim to supremacy remains un-
disputed.
The coal stocks were all strong on the
reported formation of a strong bull pool,
and scored substantial gains Lackawanna
advanced 3-4 per cent to l65. Reading
gained l per cent to 10 3-S, and Delaware
and Hudson sold up to 135 3-4, a gain Of 3
3-4 per cent.
continued covering of the short interest
In the Changers marked up the price of
that Class of stock from IL to 1 3-S per
cent. st. Paul sold off I-2 per cent at the
opening and then advar ced l :,-S to 56 3-S
Rock Island gained o-S per ceat to Ga
Burlington gained 1 is to 76 Is, and Mis-
souri, Pacific gained i per cent TO = H.
western urion was erratic in fits move
ments, declining ! IA per cent on early
trading To ~ 3-4, and then rallying sharp
ly on fair demand to 50 Ia.
The industrials were all improved and
moderately active. Sugar sold up l IL
per cent to 10 IL. General Electric gained
Ia per cent TO "a. and Chicago Gas gain
ed IA to 81 H.
The market responds with considerable
promptness to any special demand for
stocks but such demand coming almost en-
ti-eiy from the pessimistic bears is usually
short lived. and leads to the creation of a
new short interest at improved figures.
Railroad earnings reported today were not
encouraging, St Pauls decrease for the
month of December being s757 444; Cana
dian Pacific for the same period decreased
S22iOO0, and Norfolk and Western de-
creased $9s, ,633 for the month, but Increased
sl,5sS for the fourth week over same period
in 1892
The foreign exchange market holds firm
at unchanged rates on limited transactions
ana shows no important change in general
conditions.
for call and 21-2 and $ per cent for time
loans. In the present over-stocked condi-
tion or the money market. rates and condi-
tons are made to conform in a great meas
ure to the immediate needs of the borrower
The clearing house statement shows the
daily handling OF semi-annual interest and
dividend checks in the increased volume OF
business. Exchanges today aggregated
Slu9l5S.5io; balances 81 Ga and the sub
treasury's debit balance. Sl.6T26I3
Rumors OF new pools and new interests
coming into the market were renewed dur
ing the afternoon and traders Immediately
precipitated a rally in their eagerness 10
adopt the prevailing sentiment and transfer
their interests TO the long side of the mar
ket. Several prominent opera tors said to be
interested in the new campaign. denied ali
knowledge of the movement ana considered
IL device OF traders to start a rally The
market closed strong at net gains through
out the list