The times. [volume] (Washington [D.C.]) 1897-1901, 1899-01-27
STOCKS STILL KIT NG.
Remarkable Activity Marked Yes
tcrdnI's Dealings.

New York Jan. 2G-It would a most
seem as if some new and striking occur
renee should be cited in connection with
today's remarkable stock market. but as
matter of fact there was none. The
days situation, comprised, indeed, some
notably favorable traffic returns, among
which was the St. Paul's December state
ment, but such a showing had been fore
Swallowed in the company's weekly re-
ports For the rest it was to be noted
only that the money market was unrufiei
ana in the two circumstances-the evil
dences OF trade activity reflected in the
traffic returns and in the cheapness of
money-was the explanation of the mar
ket. Of course, in addition to these cir
cumstances there should be taken into
account the aroused speculative tendency
of the people Of the country. Arart from
the enormous transactions in securities,
there were heavy dealings at sharp rises
in prices in both the grain and the cotton
markets, which, aside from statistical con-
ditions, may be correctly regarded as re-
lecting the same speculative spirit that
is SO pronounced in Wall Street. There
may be properly further cited the sharp
advances that have taken place in all the
metals notably in tin and copper. In
gold. and in that fact appears the bottom
force in the movements in other commod-
tiles and in securities.
No reduction was made in the Bank of
England's rate OF interest, but the money
market in London was reported extremely
easy. The London stock market was re-
ported firm in all its divisions. with note
worthy buoyancy in American stocks. The
foreign arbtrage houses had heavy orders
I in loo.
account. but their operations were sub
merged in the immense volume of business
on home orders. Still. at the opening of
| the market. the higher range for American
! stocks in London and the appearance of
| foreign buying in certain quarters gave
fresh impetus 10 local enthusiasm. and
may be cited in that regard
| In the magnitude of the dealings the
| extent of the advances in number of
| stocks and the wide diffusion of interest
evident, the days market may be &C
! counted the most remarkable of remark
| able series. The granger shares, the
| stocks OF the Southern roads, the Pacific
shares. the Trunk Line stocks. and the
! industrials were all heavily dealt in, gen.
orally at advancing prices. There were
| particularly noteworthy movements in
| southern Railway preferred and the
Northern Pacific shares. AS was TO be
| expected. heavy profit-taking sales at
tended the trading throughout the day, and
occasional recessions marked the course of
prices. but the markets undertone was
unqualifiedly strong throughout
| Among the specialties there were sharp
advances in Tennessee Coal and Iron and
Pacihc Mail. The first-named was strong
! on reports that the company would be alb
! sorbed by the Federal Steel Company.
! Pacific Mail rose on the Senate Commit
| tees recommendation of the subsidy bill.
! Other notably strong features were Sugar
Refining, Peoples Gas. General Electric,
| the st. Louis and San Francisco shares,
St Louis Southwestern and MINNEAPOLIS,
and ST. Paul stocks. Metropolitan Street
/ Railway scored a further sensational ad-
| vance. In all OF these cases. however,
! and in the general market, there were
! substantial recessions made in the final
dealings from the best prices of the day.