Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-02-14
FINANCE AND TRADE
Dizziness With Undertone of Strength
the Feature of Stocks.
DEMAND FOR HIGH-PRICED SHARES
Money Market Not Altogether
Satisfactory to Speculation.
GENERAL MARKET REPORT

Special Dispatch TO The Evening Star
NEW YORK. February 1.-THE delibera.
ton made possible by the triple holiday has
evidently resulted in the reaffirming of the
conviction that security values are firmly
grounded. The course OF prices this morn
ing fully attests this fact, and while the
demand was necessarily restricted. owing
to distractions in the mail service and like
incidents of the storm, 1t was confident and
filled with the conviction that prices had
not as Yet run beyond values. Dizziness
and an undertone of strength were the chief
features Of the days business.
London traded both ways, buying and
selling in limited volume.
The success of the new German loan is
relied upon to revive interest in American
securities. much idle capital remains.
Inc general outlook is stu encouraging.
trades reports anu commercial activity con-
tributlng to che general accumulation Of
prosperous influences.
The bank statement was not wholly
faN OraDle, but bankers are not concerned,
ana borrowers are hopeful i'm consequence.
Higher rates for money, il is argued, would
release sums not included In the exhibit OF
the associated banks, and the supply is
dehmleiy known TO be equal 10 every likely
demand. The fear of dear money has AL
along been temporary prospect. and no
unusual setback TO prices is likely to pro-
The activity of the market in a relative
sense centered in the higher-priced shares.
Inc prospect OF BurlingLons refunding
ssneme beng considered officially during
the week attracted some good buying to t;s
shares. The der and for This stock is com
ing in from sources usually well Informed
as 10 the companys financial condition and
the buying. almost as much as the rllmors
accompanying it, invites a following by III
itiative traders
The Pennsy lvania and New York Central
issues were in good demand during the day,
although no effort was made to force the
properties INTO a conspicuous position.
The buying Of the street on issues was
remarkably good in view of existing diff
culties. Metropolitan advanced over Der
cent from its opening level Manhattan ad-
yanced moderately. and Brooklyn Rapid
Transit gained about 1 per cent. 1t Is gen
orally believed that the S21.OnOUn new
stock authorized by the latter company
will not come on the market but Will re-
main in the hands of a few of the more
influential friends of the property
An argument based exclusively UPON
business prospects is making a demand II
the iron and steel properties American
steel and iron is perhaps the more geuersl-
ly favored Of this group. While he
properties recently brought into existence
by consolidation lack the confidence OF the
banks in the capacity Of collateral there is
a general willingness even in conserve live.
circles to admit that those Interested in
the manufacture of iron and iron products
have an exceptional outlook
An increased volume of business would
from present indications tend toward higher
prices.
The Pacific mail subsidy project has not
been entirely abandoned As a factor but
decline.