Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-02-21
FINANCE AND TRADE
FLOOD NOT FEARED FINANCE AND TRADE
Condition of River Different Strong Demand for the
i Points Reassurng. Granger Stocks.
SLIGHT Rise ONLY REPORTED LIQUIDATION IN HIGHER PRICED
WORK OF Boats Removing Ice The Market Again the Hands
From Channel of the Public
THE OUTLOOK GENERAL MARKET REPORT
Strong Demand for the LOw-Priced
Granger Stocks.
LIQUIDATION IN HIGHER PRICED
The Market is Again in the Hands
of the Public.
GENERAL MARKET REPORT
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, February 21-Opening
prices this morning were inclined toward
some irregularity as the result OF conflict
ing opinions % the effect OF tomorrow $
holiday. Profit taking was in progress In
many instances, while In others mail or
ders were freely executed on an advancing
scale.
The low-priced shares were represented in
the new buying, and the high priced ones
in the liquidation.
The movement in the grangers showed
some profit taking, but the demand for
them on rising scale was again extremely
confident.
Union Pacific was taken up on the pros
pect of earnings, showing a handsome in
crease and some belief in an increased
dividend on the preferred stock. There is
said to he considerable uncertainty on this
point among the directors themselves. and
the pubic Is consequently only guessing a ;
to the result The main factor. however. is
that the company is earning the money.
ana failure to hand ii over TO stock mar
ket manipulators does not detract from the
investors idea OF merit.
racine Mail was bought by good houses
on the prospect of an extra session, dur
lES which the subsidy bill may come to a
successful vote. There are some interests
which would have bought this stock SOLELY
on its dividend prospects were il not for the
fact that disappointment as TO this legisIa-
uon was relied upon to force out a consid-
cradle volume of purely speculative hold
ings.
American Tobacco showed the influence
OF further covering, but its Vagaries were
accomplished on decreased volume OF
business. One of the largest short interests
was reported to have liquidated his obi
cations by the payment of a cash consid-
Grafton OF nearly Sl.O00.OOO. This penalty
is relied upon to limit transa ctions in pool
ed stock issues, particularly for short ac-
count.
American Sugar showed some signs Of
covering also, but, in addition to this. some
speculative trading for the long account
WAS reported
American Steel Wire was advanced to a
new high level during the afternoon as the
result OF growing confidence I'm its trade
outlook. Federal Steel issues Were sus-
tanned rather than advanced, but the pre-
ferred stock is relied upon to make sub
stantial gains in the near future as the re-
suit OF dividend declaration for the cur
rent quarter
The market is again in the hands of the
public, but of a public more Speculatfyely
inclined, which relies upon a transitorv
transaction with quick profit. A trading
market with a semi-professional trading
element might describe this condition
Meantime the holders of solid investment
issues do not sell and good investments
do not increase i'm volume. Conditions IA
Vor an advancing market, but discrimina-
ton is as essential as a wide margin from
now on.