The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-02-02
rxAxor11 AVID oonrrnC11L.


TUESDAY. Feb i.
The stock market suffered to-day. both as "a
prices and in respect to activity, from the real
king OF profits that was invited by yesterdays
unusual transactions. Trading was also cir
eumscribed to an extent oy the serious In.
terruption to telegraphic communicates, par
t~icularly between this city and Boston and,
during . part Of the day, between this centre
and London. There was n continuation OF yester-
days proh. taking. and in certain sections OF
the market there were indications OF q DISPOSE
ton on the part OF profcssionalopcrators to force
q reaction. On the other hand, there was con-
Ndent buying OF q number OF stocks. notably
Of Union Pacific. which led the list in point OF
~activity: Manhattan Railway, which was second
In respect to activity; in Chesapeake and Ohio.
Baltimore and Ohio. and Metropolitan Railway.
In CONSEQUENCE OF the conflicting views indi-
Gated, the market as q whole was irregular after
the enthusiasm over the defeat in the House Of
the Teller resolution had spent its force in the
early dealings.
Speculation in Union Pacific securities was
Inquestionably stimulated by the virtual COM
pIstion Of the reorganization so far as IL relates
to the main line of the system. The securities
o. the successor company arc being issued
and the officers Of that company took formal
possession OF the property this morning.
A further advance of 10 points in
the price OF Kansas Pacific consols Is explained
By the determination OF the Union Pacific Reor-
ganiration Committee to purchase all OF the I'M
subsidized portions Of the Kansas Pacific lines
whenever the foreclosure sales may take place.
but not to enter into competition with the
Government in bidding for the 39A miles
subject to the Government lien. Should tho
Government obtain the piece Of subsidized road
she new Union Pacific Company will b able to
connect the Denver extension OF the Kansas Pa
cinc Company with Kansas City BY . compare
lively small expenditure for the construction
Of links that will connect the Denver Division
with one or more Of the roads that practically
parallel the Government aided portion OF the
present through line. It has been suggested
that for this purpose the now company might
reestablish the relations It's predecessor
maintained with the St Joe and Grand
island Railroad Company. 1t Is now
pretty well understood by those most
largely interested In Union Pacific securities
tina. the purchase by the Government OF the
subsidized portion OF the Kansas Pacific lines
will not interfere with the reorganization Of the
remainder Of the Kansas Pacific system. nor
prevent that system from securing o necessary
outlet to the East.
Increased activity IN Manhattan Railway, at
advancing prices. is explained by the publica-
sion Of the various propositions Of the company
TO extend and improve its facilities The
furry in Baltimore and Ohio was accom-
panied by rumors that . plan Of re-
organization will shortly DO forthcoming.
IL is true that various banking interests that
have been successful in other important and
difficult reorganizations are considering the
Baltimore and Ohio problem moro earnestly
than ever before. The condition and COM |
plieations OF the Baltimore and Ohio sys-
TEN arc such that without doubt prae
tically all of the reorganization experts
will have to lend a hand in rehabilita-
ting that sadly mismanagsd trunk line. Tho
Granger and Northern Pacific stocks, New York
Central, and Sugar Refining showed the effects
lot recent profit taking. None of them, how
ever. sustained moro than Q fractional n ct loss.
OF the usually less active shares, Des Moines
and Fort Dodge came to the front at q net ad-
vance of 3ss y cent. Great Northern preferred
made . new high record ct a net advance of "a
p cent. On lighter transactions than were re-
corded for the stocks just named. Chicago and
Eastern Illinois preferred closed 81 points
higher than yesterday. Consolidated Ice III.
and Chicago Terminal preferred l = cent The
closing was in the main steady.
New York Stock RxehanGe-aales FEB. 4.