The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-17
4 Dull STOCK MARKET
The Dearih Of War News in Lon
don Causes Stagnancy.
A Firm Undertone Generally Appa-
rent in the standard Railway
Quarter - The Change in Prices
Very Limitcd-in Easy Money Mar
Let-Efect of Rapid Transit Bids.

NEW YORK, Jan. 16.--Inasmuch as
Spectators both in London and New
York. closed up their business las. evening
with the full expectation that they would
read of the announcement of some decisive
action In South Africa in their morning
newspapers, the apathy apparent in both
markets today may be readily understood.
While the unofficial advices from various
South African points indicated that a
crucial engagement was impending, and
while in the main favorable expectations
as to the result appeared to be commonly
entertained, business opened with an utter
absence of any official information bearing
upon the progress of hostilities. and there
was virtually nothing learned in that re-
spect with the course of the business ses-
sion. Rumors of one kind or another
were indeed current at various times dur
ing the day, but mere rumors respecting
the Anglo Boer war no longer carry their
former weight.
Although extremely dull the London
stock market was reported in the early ad-
vices as fairly steady. slight improve
ment being shown in consols and an easier
tendency being apparent in the money
market. On the other hand the speculative
stagnation that prevailed there was proof
enough that the operators of Capel Court
were as lacking in their possession OF deh-
mite news from the war as were those Of
Wall Street. The operations for foreign
account in the local market were almost
nominal but were almost wholly on the
buying side. The absence of important
developments in the dominant feature of
the situation was not supplied by any
others of sufficient weight 10 attract much
attention. The local money market was
again extremely easy. with large offerings
on call being made by out of town lenders,
notably Chicago institutions. which were
doubtless DESTROYS of utilizing for their
own benefit their heavy current remit
tances to New York Sterling exchange
was somewhat firmer, but the relative
positions of the New York ard London
money markets preclude the possibility of
any further exports of gold in present cir
cumstances.
The price changes in all the standard
railway issues were extremely limited and
irregular A firm undertone was gener-
ally apparent in that quarter of the market
which in effect meant little more than that
spectators were willing TO wager that
the next information forthcoming from
Africa would be favorable. that is, TO
say would tell of British successes.
Sugar Refining American Steel and
Wire. and the local traction issues again
furnished a dispropnrtionate share of the
days total transactions. Brooklyn Rapid
Transit was comparatively firm. perhaps
because of the closing today Of the COM
pany's transfer books, and on the idea
that the much mooted entrance OF new in
terests into the directory would now be
disclosed. Manhattan and Metropolitan
Street Railway were both somewhat IN
settled, the dealings In those stocks being
affected by the uncertainty as TO the real
meaning OF the tenders made yesterday for
the construction OF the underground rail-
road. Definite information or influences
bearing upon other particular movements
OF the market were difficult TO ascertain,
and indeed there appeared TO be none.