Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-01-08
Stocks Opened Weak on Conflicting
News From South Africa.
some RECOVERY LATER IN DAY
Railroad Reports Show Good Earn
ings--Increased Dividends.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star
NEW YORK. January S-Confic;ing adj
vices from South Africa resulted in lower
prices in the foreign markets this morning.
The declines varied from u to Ia per cent
from which level moderate recovery was
recorded. Traders took advantage of this
weakness to cover outstanding contracts
believing that the recently announced rail-
road consultations would limit the decline
Having covered a considerable line and
finding no new buying, the room again put
out its short commitments The entire
market became Hsjless. prices moving with
in narrow circle and the volume OF bust
ness dwindling into insignficauce
This professional trading was not uncN-
pected and commission houses are quite
satisfied with a decreased business until
the market proves its claim 10 new conSid-
Grafton at this level.
The Vanderbilt stocks Were all steady.
cut me market was not in sympathy with
an advance, even in this group II is ad-
united almost unanimously that the plaus
now being given to the public mark a for
ward step. which will ultimately add sta
bllty TO American investment shares. The
N.eak spots in traffic agreements have been
eliminated by a plan which proyides for
representation in the right Of ownership
Agreements made by the higher officials
are TO ne lett IN the kcev!ng of such Off
Gals Enterprising traffic agents can %
longer involve their roads I'm rate wars with
out the merits of the case coming Ia the
attention of the real principals as they sit
alternately in the directories of both roads
The good in this does not find immediate,
reflection in the stock market because of
foreign difficulties.
There other instances OF improve
ment of a substantial character which
must wait on the passing of the south
African war cloud.
Big Four directors declared a dividend of
1l2 per cent the stock of that COMPANY
payable March l. The PAY mcut is made,
out of earnings. but no period is given
The Genital Of New Je rsey directors de-
clared dividend Of II. per cent instead OF
l per cent, which was rather positively nm
nouncei would he the case. The Steel
stocks came up for dividend consideration
during the week. and friends Of The several
properties predict that such shares will
take a more secure place in the markets
when the public Is shown their moncy-estrll-
ing capacity.
An impression prevailed among certain
conservative houses during the afternoon
that decline on adverse news from Lady
smith would be short lived. 1t was argued
that the suspense incident to no news was
more disastrous to prices than an actual
condition of temporarily diScouraging ma
ture. However this may be- IL is hot likely
that the foreign markets viii find our own
in any condition to be surprised by further
selling. Local conditions are too encoura.s-
ing TO remain in an inactive state unless
grave complications arise in the worlds
politics. The time for buying has probably
not yet come. but the time for having money
available in order to buy is certainly here.