Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-01-07
FINANCE AND TRADE
Decidedly Bullish Tendency in Stocks
Again Today.
MARKET OPENED WEAK, HOWEVER
Atchlson Led the Advance, Under
Buying by Flower.
GENERAL MARKET REPORT

Special Dispatch TO The Evening star
NEW YORK, January 7.-Cables from
London this morning reported the market
for American issues practically closed for
the week. Business was reported dull.
prices irregular and the general disposition
to await onward action at New York Not
withstanding dullness, Vanderbllts. Penn
sylvania and New York Central were eX-
ceptionaAy strong. gaining Sals per cent.
Louisville and Nashville. ST. Paul. Atchi-
son, Erie and the Pacific issues on the
other hand, declined fractionally. The de-
mand for gold In London, by Amer Ca and
Germany, is having a tendency 10 harden
the money markets.
In the New York stock market the re-
dictionary tendency did not last long after
the opening. owing 10 the support that
promptly appeared in the Flower stocks,
and It seemed evident from this buying that
the issues ably represented by the above
named gentleman Will not be allowed to
decline rapidly.
At the opening of the market prices were
generally lower and there was sharp de-
cline of over . per cent in American To-
bacco. Brooklyn RAPID Transit also ran on
over two points. but elsewhere the conces-
sions were only fractional and some stocks
were actually higher. American Sugar ad-
Nanced about per cent on shorts, while
bacco afterward rallied over point, while
Brooklyn Rapid Transit, on the buying be
fore noted (FlowerD, recovered over , per
cent. Special strength was shown by
Southern preferred, owing, no doubt, to the
handsome earnings shown by that road for
the fourth week OF December which were
reported yesterday. and show an increase
of Sl4l,1 53, while the entire month of De-
cember showed an increase of SD, 1:s5.
Delaware and Hudson, Colorado Fuel and
Iron, St Paul and Duluth, Peoples Gas,
81. Louis. southwestern preferred and
Pacific Mail were noticeably strong
London sold moderately this morning and
the professional trading element worked
for lower prices.
In government bonds. the old As. cou-
pons. were 4 higher. Railroad bonds were
steady.
1t was said by some prominent peopIe
that Cookers pronunciamento in favor OF
an expansion policy, but saying the silver
issue Is dead, would possibly have favor
able effect on the market. The strong mar
ket at the close, however. was really due
10 the fine showing Of the banks in their
most remarkable weekly statement as fol-
lows: Reserve. increase, s4.349 400; loans
decrease, S4..,OI 800: specie Increase e. as
500: legals. increase, 81 .ti24 GOO: deposits in
crease, Ss44; circulation. decrease. s4l2 400.
IL viii be seen by the above that the banks
have gained S5,310 400 in lawful money
more than three-fifths of IL in specie. which
has probably come chiefly from San Fran
cisco.
In spite of active business and heavy
speculation this week. loans have been
voluntarily reduced $4.J04 500 The increasa
in deposits is larger than called for by these
changes, presumably because Of transfer
of some coupon money from trust COM
panies to banks. The net result brings the
surplus up to 81, JO0.S75. The character
OF the statement has certainly started fresh
buying, and the strong closing is likely to
bring in a good volume of commission or
ders over Sunday. The feature of the late
trading was in Atchison preferred stock
which rallied sharply on large transactions
20 a3 J-S, a gain of over 2ie per cent from
the opening.
Flower buying was responsible for the
advance, Ii was said, and the stock il OK
pected to do better next week
Inc week closes with very strong mar
ket, but bullish sentiment is not a decided
owing to he unsettled condition of affairs
IN the Philippines, the fight in the Senate
over the Paris treaty and the non-appear-
ance OF the expected reaction in some of
the stocks that have an unmistakable
"toppy' appearance