Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-02-03
Generally Better Feeling in Stocks at
End of Week.
B GAN WITH STEEL INTERESTS
The Railroads Took Up the Advance
Later On.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, February "A better feel
Ing In European markets, especially on the
continent, was reflected here in the early
trading this morning. Commission houses
nad fair volume of buying orders but
'here was also a tendency to realize on Ger
TAIN specialties which became active early
IN the week. In view of the increase I'm
the daily volume of business and the ad
vance In the active list the market mas
done well to retain its present level
several important Developments have
been announced during the week, and the
| LEGAL market has achieved a certain amount
of independence.
The war In South Africa has failed to be
the dominating factor, and once local con-
oitions were considered better prices fol-
lowed The steel stocks began the move
ment and since they are exclusively local
IN their distribution II was only natural
that they should be first to shake of the
dread of Boer victories
FINDING that the market would advance
II left to itself, the railroad shares were
taken up toward the close of the week and
they all responded willingly to the demand
Group by group the market has been test
eo- AT every point a short interest was
FOUND, and. once an aggressive demand
arose these outstanding obligations were
covered
As the market advanced some new selling
was begun for the short account with the
result that there is a good borrowing de-
mand at the end of the week. While the
market has been resting and gradually
working back to normal conditions the
trunk line railway arrangements have
peen active in preparing a way for future
harmony and the abolition of the cut-rate
policy From week to week additions are
being made to the great project of unIfying
the eastern railroads
Inc pennsylvania and New York Central
form an appropriate background for this
progressive enterprise. These roads have
made reputation for success In whatever
they undertake, and now that they are
grating their progressiveEess upon lines
which have hitherto been rivals an alliance
OF far-reacning consequence is. to be .x-
pected.
The success of Baltimore and Ohio.s sale
OF treasury bonds and the presence of
pennsylvania official in its directory point
to further announcements equaIl4r--sisn,fi-
can't Union Pacific and its place I'm the
Western link Of this great chain of repre-
sentative railway properties is being much
1t is stated very emphaticalIy that there
has been nothing decided as to the territory
west of the Missouri river. but Union Pa
cine is bought by the same interests which
were hrst TO see the great Pennsylvania
Vanderbilt project.
There is distinctly a better feeling I'm
banking circles at the end of the week and
the railway alliance is quite as much the
occasion of IT as is the 2lk per cent call
money rate.
The bank statement was construed In n
favorable light, but attracted the usual re-
aiZing he banks have gained durfng
the week $5.4410o0 in lawful money and
have added 81. 249000 to their loans De
posits are larger by S15,391 600 and in
crease OF 81 ,593 800 in reserve brings the
total surplus up to s3os71,e15. -.'.-1. -