Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-01-09
Stocks Sell Of Under Failure Of
Foreign Demand,
PREDICTED ADVANCE In SUGAR
Union Pacific Passes Dividend on
Its Common Stock.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. January 9.-London was
seemingly unwilling to accept the reports
from Ladysmith an inducement to i'm
mediate activity in the stock market
Early prices from that side were about UP
to the local parity, but there was no en-
thusiasm. This action was disappointing to
local operators, who had opened the mar
ket at advances, expecting London to come
in as buyer
after the first half hour the market he
came narrow and professional. selling Off
irregularly from the best level of the morn
irg- In few specialties there was tend
ercy to advance prices. but the promoters
of these movements soon found that they
were attracting little support from com
mission houses or the public.
Brooklyn rapid transit was advanced dur
ing the morning under rIImors of important
favorable developments. These rumors
varied from proposed forcing out of the
short interest To an actual change in con-
troll While the street is prepared to hear
some very fanciful arguments for improve
ment In these shares il is willing to cou-
cede the presence of guardian interest
which deters short selling The fact that
supporting point has been agreed upon
gives new confidence TO holders of the
stock
An imr ending movement in American
Sugar is said to be foreshadowtd by the
present action of that stock. The familiar
argument that inside interests can maxi.
any pricc they desire for these shares
coupled with deductions as to the state of
the trade. is attracting a cautious spect-
lative demand. Ii is not likely that sugar
VIII be forced up i'm spite of the general
market, but once the situation Broadens
ne movement now predicted may matcri-
alize.
70;
take action as TO dividend on the CONF
mon stock of that company was disappoint-
ing to recent purchasers. There was little
reason for such disappointment however
since the availability of funds is not the
only consideration with the conservative
directory of this company. The earnings
are equal to a comfortable dividend and
TINS fact of itself gives value to the stock
Ire low-pf1eed stocks hold rather well. con-
sidering the character of the trading and
because of this fact commission houses
continue to direct especial attention to
them on all concessions
The gold movement is not likely to al
tract immediate attention, many of the
larger foreign houses predicting a tempo
rary cessation of the outgo. The local
money market rules around 5ls per cent
but a larger speculative demand would
probably force an advance in the rate The
street on the whole is hopeful. but timid.
The timidity is due To Defenders expert
ences. and is OF a kind not easily overcome
II the foreign situation would chan,.,. IL
Is quite probable that the larger interests
would force an advance
An initiative confidence would thus he
encouraged and the country's prosperity
would again be made much of in all quar-
tiers. For the present a waiting market is
the most that is in sight After recent de-
relopments a period of deliberation would
De most Wholesome. Waiting usually be-
gets impatience and Impotence frequently
makes bargains.
An Amsterdam dispatch. reporting the
killing of officer on Dutch cruiser nv
the English in Deiagoa bay. served to force
off prices during the last hour