The times. [volume] (Washington [D.C.]) 1897-1901, 1900-01-26
A SLIGHT RISE IN STOCKS
Favorable Reports From London
Strengthen the Market.
An Impetus Given Business During
the Opening Hours-A Further Re-
spectators Await Settled Condi-
tions - Trading Continues Dull.

NEW YORK. Jan. 25.-The stock marke
naturally received decided impetus a
the opening of business from the an
nouncement of the successful occupation
BY the British forces OF Spion Kop, and
both the local and London markets were
further strengthened by the reduction OF
l-2 per cent. made today in the discount
rates of both the Bank Of England and
the Bank of France. The combined infiu-
ence of the two circumstances gave an
appearance of animation TO the initial deal
ings which has long been absent. but with
the courst Of the day much of the early
enthusiasm evaporated and the market re-
lapsed into the stagnant condition which
has prevailed throughout the week.
The smart advances made In the opening
dealings unquestionably reflected more
than anything else the relief felt by rea-
son of the removal of recent misgivings as
TO the actual position Of the British forces,
but ii was soon recognized that the sue
cessful movement OF Tuesday night did not
by any means solve the question OF the
relief Of the forces at Ladysmith 1t was
probably on this account that the specu-
latioD hes;tateG after the opening, and the
market lost its opening and welcome ami
nation. Apart from the news from South
Africa and the developments in the Euro
pean money markets, the days situation
comprised nothing that attracted a consid-
ernble degree OF attention. Scant notice
was devoted either to the days traffic re-
turns or 10 other routine features of the
situation.
There seemed TO be in the early deal
ines a moderate increase of commission
houses were fairly heavy purchasers OF
stocks. taking upward OF $4,000 shares
OF various issues. Subsequently, how
ever, the trading was as wholly profess
sional as it had been throughout the week.
and the room traders and the professional
element of the street generally are, for
reasons satisfactory 10 themselves, alto
gether committed TO the bear side of the
account.
In number of instances the best prices
OF the day were established in the initial
transactions. St Paul, Atchison, and
Louisville and Nashville opened at SUBJ
stantial advances in response TO the ten
dency OF the London market, and the rail-
way list generally enjoyed a very firm
undertone After the initial dealings.
however, speculative interest was chiefly
engrossed with the Industrial shares, the
local traction Issues, and other of the So
called specialties, in which the days price
movements were the most extensive.
Nothing, however, that was new at
tended the movements in any of these
stocks. The dealings in Brooklyn Rapid
Transit reflected the views as TO what
might be the effect upon the stock of
tomorrow's election of directors and at
the opening of business. American Steel
and Wire advanced rapidly on rumors re-
"a di DQ no IN bn GU
which is expected TO be declared on Mon
day next The price movements in the
general market. however. after the first
hour, we're wholly he result Of the oper-
stions on either side o. ihe account %
the room tra.ers. and were without an
other significance han as rejecting The
speculative views Of mat class.