The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-01-13
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Proceedings.
NEW YORK STOCK REPORT
Digest of Exchange News-Mning Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review of Trade.

New York Jan. 12.-To-day's market for
securities was much of the same charac-
ter yesterdays. The principal interest
was centerod in Union Pacific and a NUM-
Der of its affiliated companies and in
Northern Pacific. which were the leading
factors of strength. while on the other
hand Sugar continued under a weight of
depression az was the case yesterday. A
new feature OF special strength was
Chesapeake & Ohio, which advanced a
point on heavy buying. Transactions We're
on a very large scale and the heavy deal
ings of large operators. backed by the
powerful interests. were manifest all
through the market These large opera
tions attracted a considerable following
both among the smaller traders and from
outside sources Commission house busf-
ness was. In fact. quite noticeable III the
DAYS trading. IL was obvious. however
that realizing on a large scale was guing
ON in different parts of the list coinciden-
tally with the strength in other parts.
striking example of this process was seen
in the two Northern Pacific stocks. the
common being advanced more than
point. while realizing in the preferred car
ried ii before close below last nights last
sale.
The grangers. outside of St Paul. will
also be seen to reflect a supply 81 stock
fully equal To the demand. Union Pacific
rose at one time oyer two points, but re-
cent buyers commenced to profit as soon
report was published that the new
company had secured control Of the ore
gon Short Line. The stock reacted over
Il point. The recent strength of the stocks
of the disntegrated portions OF the old
Union Pacific system is fully explained hN
to-days announcement This buying WAS
evidently founded on a belief i'll far
reaching plan of combination and extern
.in oi.h IN
rumors, will embrace one vast system
from the Atlantic to the Pacific Much
was made in the market on a reported
bond issue by the G. O.. though the
view of benefits To accrue seemed To be
some what exaggerated regarding the
amount of the transaction
AdVces from the London and conu-
mental markets showed that one of the
American securities in the foreign finan-
cial markets was excellent. London
bought in this market no less than 10000
shares of the favorite International stocks
and the market strength of Union Pacific.
Denver x Rio Grande preferred and
Northern Pacific was directly attribute
BILE to this demand.
The weakness in Sugar seemed to be
connected with the annual meeting of di-
rectors III progress to-day, though no
news regarding the company reached the
house.
Money declined to yield to-day below 9la
per cent. but the tone of the market re-
fiected the prevalent feeling that rates
VIII yield in the near future. Large
amounts of money also found Iheir way
into investment and speculation to-day.
The available possibility of relief to the
money market was indicated ny the fan
of lac in posted rates. the declination. be-
ing prevented by the expected arrival to-
morrow at San Francisco of another
81 O00, COO in gold from Australia. The par
value of to-day's transactions in bonds is
not as large as that of yesterday, but
business was remarkably well distributed
all through the list. Gains were the rule.
bur there were some declines Total sales,
Si715.0O0 L. s. old As coupon and the
seconds were I. higher bid to-day. There
was Il sale of the new s coupon nj l29a4,
which is the highest on record.