Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-01-26
FINANCE AND TRADE
South African War News .,caussd
Weakness in Stocks.
LONDON SOLD $4,000 SHARES
Reported Ea'"i'is of Railroads Are
VeY Satisfactory.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, January ee.-The abandon
ment of Spionkop by the English forces had
discouraging influence on the security
markets this morning. London cold the
Stocks bought during the last few days, the
totai transactions for foreign accounts
amounting to about 10000 shares. Early
cables reflected declines varying from y to
per cent, and the local market opened at
the same relative level. There was no pres
sure to sell. however, and prices held well
at the decline
Commission houses had no new business
and traders were disposed to operate for
the decline because of the narrowness. Out
side of a few specialties this selling had
small effect. !!
American sugar showed the presence CT
two opposing forces, some round amounts
Of stock changing hands on a scale down.
The Steel stocks opened off in sympathy
with the general market, but at times were
well bought by inside interests
me manipulation in American Steel and
Wire on its dividend prospects has ad-
vanced the price to1a point which has here
t toaore anordeh a most advantageous sell
street which Is inclined to the belief that
its previous record Will be duplicated.
tennessee Coal and Iron is being talked
90 " rnoS' promising property, ana the
tactlcs OF last year seem likely to be en-
pioyed again In the near future A bid of
2Ha per cent to call the stock at 12O within
"a yea year was reported during the day.
The stock acted much in, the same man
ner as ITS neighbors, however. and there
Is little likelihood that any movement will
De Undertaken until general conditions are
relieved somewhat. >,
The annual meeting of Brooklyn Rapid
transit was the center of interest through
out the morning.
The new names to be added to the direc-
tory are relied upon to indicate the
was occasioned by failure to agree on
completed ticket and traders sold the stock
down during that period. Six new names
were added to the ticket, and the ballotinp
began at later period. Indications are
that the changes generally predicted will
be made.
Earnings from various sources were en-
courag1ng. and the railroad list might have
rallied easily under such reports had not
the large interests continued in their atti
tude of complete Indifference Atchison's
report for the month of December reflects
an increase of s215,Ss2 in gross earnings and
net increase Of s3ss. 3g3 . Southern rail-
read for the third week in January in
creased $780, 64 making the total increase
from July 1 S1;S15.9d5
In no quarter lis there any absolutely dis
couraging reports. Such a condition easily
explains the Yresert lack of liquidation
Holders of diyiderid paying stocks are
satisfied that their Income accounts need
give them no concern There Is such con-
fusion in other quarters, particularly in
the foreign war stuation, that the induce
ments to buy Tack the convincing quality
which inspires, action. There is likely to
be little more thanl.9a traders ma rket for
the present. Meanwhile a RECRUITING and
a mark-time policy may give assurance Of
the coming advance movement
The bond market gave evidence of In
creasing interest and at advancing prices