The sun., 1900-02-10
FINANCIAL.
General Situation of Yesterdays
Stock and Money Mar
ket Reviewed.
DEALINGS DULL AND QUIET
Was of Such Nature
That the Market
Was Not Bene-
fitted.

fitted.
Not for some time has there been such
dull day in the stock market as was
yesterday. The foreign news that came
in during the morning was of reassur-
ing character and forshadowed the ex-
pectations of good news from the British
army. But il had little effect. Then
the action OF the Union Pacific directors
in declaring dividend of u per cent.
on the common stock failed tu stimulate
the market which continued dull and
reactionary throughout the day. The
market all day seemed to be waiting for
something and there was general dis
position not to start either buying or
selling movement. In the afternoon q
raid was made on Brooklyn Rapid
| Transit, Manhattan and Sugar and
forced decline of from u to q points.
There has been some liquidation in sew
eral stocks, but a great deal OF tive selling
has been for short account, and there is
no diminutiun of the bullish sentiment
| which has been so marked tie past few
days. Ia fact, the decline is considered
rs placing the market in better condi-
tion for the rise which is confidently
| looked for. Third Avenne was very
/ weak on the report OF the hitch in the
refunding plan, but there was no ag-
grassiye selling Of the stock, and while
the rumors of a lease OF the road by the
! Metropolitan were officially denied it is
thought, in prominent quarters, that
this will be the outcome of the whole
affair There is good buying Of the
Tobacco stocks, and many bull points
are being circulated on contiDei tai To-
bacco.
Mr.. Keene, it is said, remained actively
buliah in b. 4 U. COMMON ard Il q buli
reporta on Pennsylvania are sill IN
active circulation II is probable that
the bank statement will not be as favor
able Us we have had the past two or
three weeks, but money remains very
easy, and most uf the large commission
honses think that resumption OF the
upward movement will follow in very
short time. The coucensus OF opini0n
among the best authority and judges is
10 the effect that stncks are An excellent
purchase, even at present prices, and
that on reactions they should he bought;
aggressive n,ovement on the part uf the
bear element viii be promptly met. but
il seems at the present writing that no
such movement will be attempted
New York. Feb. 9--R. q. Dun s. Co.
weekly review OF trade says:
The industries are siil surprising in
, actual output the work d any previous
Gear. Their new business il not CORE
apondiHgy large, nor could sarh orders
hc accepted hy most industries il offered
but ra3ush arc coninE % prevent stop
.aeg u w1ll,s or inurA decline hl prices,
I .stt..ls ~
eUlc volume sustains marked advance
n prices, ana Ia Gtheg lines OF impur-
tanro, as Ia machinery, or,IcsS indicate a
surprising f9reign demand. Meanwhile.
though encouraged by the abundance ana
ease o. money, speculation does not in
any direction as Vet 80 without Il check
far enough to do mischief.
Cotton followed lis rise f:2m s to 81
cents last week ly further rise to S5s
cents. with CROWN. belief that the crop
Will prove short enough and the con,
; sumption large enough 10 give holders
quite their own way. The decrease of re-
ceipts in ,tanuary was 2'i30U0 hal.s, or
20 Der cent, but in Dccembcr the de-
crease was moro than so per cent. No
change of Consequence vet appears in
prices of wool, though the demand from
spinners is limited. ANA il i perceived
tuaL tHty ndu previously SNnpiet Them
selves quite fully for the heavy weight
season, for which l:roy have taken very
large orders.
The weekly output Il pig iron Feb.
was 29S,o14 tons. but stocks unsold rose
20.390 tons in January, Indicating con
sumption slightly smaller than the out
put when the month began As the con
sunling works We're naturally stopped
about the holidays more than the fur
naces the figures prove little, bot besse-
mer and gray forge ut Pittsburg have not
changed in price during the past week
and slightly lower offers of pig by south
ern and other new furnaces at Chicago
and eastern markets have had little ef-
| feet.
Speculation in wheat has raised the
price scarcely Il cent, although western
receipts for the first week OF February
were only 2,500,173 bushels, against
3,636,406 last year. The Atlantic exports
have fallen off still more, for the week
being only 2,115,S75 bushels, flour includ-
ed, against 3,926692 last year. and Pa
cihc exports were 7SS,510 bushels,
against l47, ,129 in 1899.
Failures for the week were 24J in the
United States, against PIT last year, and
81 in Canada, against 80 last year.