The times. [volume] (Washington [D.C.]) 1897-1901, 1900-02-08
THE STOCK MARKET Firm
London Operators Buy Heavily Of
American Securities.
A Revival of Speculative Confidence
The Currency Finance BiIi-Innu-
cnce Derived From Expected Brit
fish Successes in South africa-A
Union Pacific Dividend Looked For.

NEW YORK, Feb THE stock market
opened exceedingly active and firm, but
the subsequent dealings were character
lied by considerable degree OF uncer-
tainty. Its tone at the opening was TO
some extent influenced by the London
market, which continued strong and active,
and from which quarter came buying orders
in excess of 10000 shares Of various
stocks. In the local dealings the realiza-
ton of profits was gaining large volume,
and commission houses continued active,
chiefly on the buying side The dealings,
as a whole. appeared to reflect the revival
of speculative confidence that set in early
last week with the consequent more gem
eral appreciation of the strong features
of the situation, and also the natural will
ingness OF the purchasers at last weeks
low level to realize their accrued profits
There was little or nothing that was lew
in the situation of general Importance. and
no essential alterations appeared either
in money market conditions or the
foreign exchanges. The Currency bill
now pending in Congress. seemed to come
in for more general discussion than it
has heretofore received, and il was TO be
noted that the chief interest in the matter
appeared TO be in relation to its probable
effects in increasing the circulating me-
dunn. The firmness of the London market
was reported as again owing TO favorable
expectations in regard to the progress of
hostilties in South Africa. but later,
rumors OF another British defeat played
some part in the markets reactionary
tendency.
Union Pacific common was the strong
feature of the railway list on the expecta-
lions that the stock would tomorrow be
placed upon a dividend paying basis, a
policy the management could readily adopt
if. in their judgment they deemed it eX-
Iedient. The price changes elsewhere in
the railway list were rather limited and
irregular. and in many instances the best
prices of the day were made in the early
dealings. Profit realizing sales were. par
ticularly heavy and effective in the
granger shares. Baltimore and Ohio and
Norfolk and Western, and the particular
course of these stocks WAS wholly in
Spouse to this technical circumstance. The
industrial quarter was generally reaction
AIRY, Sugar Refining however. in a rather
sharp advance. again moving contrary TO
the remainder o! that group.
The decline in Western Union was at
tended by reports that the company pro-
posed making a new bond issue for extern
sions and improvements. and irregular
movements appeared in the local traction
issues. Metropolitan rose rather sharply.
as did Third Avenue. while Manhattan was
duh and Brooklyn Rapid Transit was
heavy. Wholly by reason of the Treas
ury's Interest disbursements of the list OF
The month the banks have more than held
their own in their weeks operations with
the subtreasury. but If yesterdays net loss
of over ss0e 600 is TO be repeated within the
course OF The week it is not TO be expected
that the favorable results reported
throughout January are 10 be looked for in
Saturdays statement OF averages.