Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-01-27
Decline in Hooking Valley the fea-
ture Of the Day.
PRICES OF TIE COALERS ALL SUFFERED
Increase of St. Paul Earnings for
December.
GENERAL MARKET REPORTS
Special Dispatch 10 The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK. January 1.-THE determi-
nation to retain present holdings is the |
most encouraging and at the same time the /
most conspicuous feature of the local spec |
ulatve situation. The new inquiry is small |
and usually for insignificant amounts. but |
liquidation adds nothing to the supply of
floating stocks. Fractional concessions in |
variably develops a moderate buying de-
mand, and the execution of buying orders
for more than quotation lots force sharp
recoveries from previous sales.
Fears of material declines are no longer
to be contended against. period of wait
ing is almost certain, but patience is a
virtue forced into speculation by the panics
of the last few years and has an enviable
record for endurance. The frequent reac-
tions of the coming season are more likely
to attract purchases than TO inspire sac
rfices of what has already been purchased.
Enthusiasm will overstep the limits OF
prudence perhaps many times before
legitimate upward movement becomes
fixture.
The prospect warrants deliberate action
Hasty efforts to begin al the begfnnlng
may result In an unnecessary waste OF
interest. The largest interests may safeiy
be permitted to proceed few steps further
before the average operator assumes any
risk
In the meantime the room preJudice IN
favor of the short account must De over,
come, and the market put upon norman
level While the daily transactions arc
less than one hundred thousand shares this
process must of necessity be SLOW
The troubles of the bituminous coal
roads continue to exercise a depressing
influence on the entire market. The meet
ing of the properties interested in the COM
n odity may develope something favorabie
to an early remedying of the difncuitles.
Hooking Valley was feature of the days
operations new difficulties being followed
by a sharp decline in its various securities
Interest charges maturing between the
present date and March amount to some
thing more than $30o.oU.
The amount must be raised among the
friends Of the property in the east and
west. The financial standing and loyalty
| of these friends was relied upon to make
| the raising the money comparatively
| simple operation. Disappointment was
| soon developed by the refusal of one OF the
largest bondk o,ders to assist IN financing
| the company in the present emergency, ex-
| cept on terms Of prohihitive character
| The publicity given the affairs OF TINS
company had an adverse influence on the
entire group of coal stocks including Dela-
| ware and Hudson and Jersey Central
st. Paul was bought and hid up on the
| publication of its December statement
| showing a net increase Of something over
$1,000 for the month. The confident bid
| ding of rs of l per cent for Burlington
rext dividend resulted in some covering IN
| that property. The entire railway and
| miscellaneous list was strong in spite OF
| the dullnesS.
London cables report fears of probable
gold exports to the United States. the con-
tinued weakness in exchange rates prompt
ing the belief in the probability. The
cars illness was utilized to depress tho
foreign markets slightly, but local repre-
sentatives of the larger foreign houses are
given every assurance that London viii
follow any logical movement inauguratet
| here at home.