The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-02-01
Etmaneial.


| New York, Jan. 31.-To-day's stock
market showed the stimulating effect Of
yesterdays sharp advances and in
creased activity in largely augmented
| outside demand The commission
houses had more buying orders to exc
cute this morning than for many weeks
past and their brokers made lively
opening. The great activity Of the mar
ket and the steadiness Of prices during
the first hour made it obvious that
Spectators who had bought stocks yes
terday were feeding the new demand
with judcious liberality, so as to
realize profits on yesterdays rise and
yet not disturb the new level of values.
The steady and confident absorption of
these offerings proved highly satisfac-
tory to the professional bulls and be-
fore the end Of the first hour they COM
menced to bid UP prices again and to
take on new lines Of stock. The mar
ket was a good deal unsettled by a
sudden break of points in Sugar and
the announcement Of failure of an i'm
portant stock exchange house. The
closing out of the accounts Of this house
under the rule of the exchange caused
a pause in the speculative activity. The
sales under the rule were well absorbed
however and prices well sustained. The
hest prices of the day in the majority
of stocks We're made after this episode,
the demand from the short interest be-
coming eager and pressing for some Of
the stocks which haverecently been tar
gets for bear operations. But while the
frightened shorts were eager to cover,
it cannot be said that the bull contin-
gent retained the same placid confidence
during the latter part of the day. They
were disposed to avail themselves of the
forced demand from the shorts to real
ize and prices yielded quite materially
during the last hour The mixed senti-
ments thus manifested were partly due
to the fact, disclosed by the days in
cidents, that an important part of yes
terday's large buying. was due to
reckless and incorporate attempt to
recoup large bear losses by plunging
into a long account. 1t was evident
that operators short of the general mar
ket had made prodigal outlay in
Sugar, which relapsed weakly in the
face of an effort to realize profits
There was very heavy covering in evil
dence at various points in the list, the
industrial stocks recently under press
ure being most conspiouousy affected
The very heavy dealings in Brooklyn
Transit and a part of the demand for
Steel e. Wire were attributed to this
cause. There was a very large demand,
however, for Steel & Wire for the long
account The sympathetic effect ON
other metal stocks was less marked |
than yesterday. The aggressive
seemed to impress foreign
markets and invited some small buying
demand from London. Conspicuous
strength was displayed by the grang-
RS, the coalers and some of the south
Westerns. But the gains In the railroad |
stocks were must affected by the late |
'ealzing and were nearly all reduced to |
fractional limits, after having extended |
we'll above point Third avenue and |
oittsburg C. c. & st. Louis continued |
leavy, in face of the general tendency
If the market. The money market con-
inued very easy without rejecting in
my degree the enlarged stock market
lctivity and sterling exchange was dis
inctly reactionary.
The bond market was active, but
'ielded at some points. Total sales, par
,alue, $2,355, 600.
United States threes coupon declined
s and the old tours IA in the bid price,
he twos rose IA.
NEH IURh sTOCk " IEhhF
opening, Highest, Lowest Quotations
IN the New York Stock Exchange reported
~ G. Whitply Rpp,arc |