The times. [volume] (Washington [D.C.]) 1897-1901, 1901-02-12

NEW YORK, Feb. 11.-There was no
specific explanation of the material
shrinasage in tie business shown in today's
stock market or of the uncertain tone Of
the trading apart from tomorrow's sus-
pension of business. At all events, there
were no developments in the various di
rections toward which Wall Street is now
looking for inspiration.
On the opening of the market specula-
tive sentiment was adversely affected by
the material declines showing in the
American quarter of the London stock
market and by the subsequent selling here
for foreign account, which, in the aggre-
gate, amounted to about $4,000 shares.
While the transactions for foreign ac-
count were upon the limited scale noted,
they, together with the depression in
American stocks in London, gave the cue
TO the forenoon dealings. On the cessa-
tion of the selling for foreign account the
market showed distinct tendency toward
recovery, which was, in number of in
stances. quite pronounced. The days act
ual news was limited to a number of traf-
ling exchange.
The possib. Titles of expectations of gold
later on in the week did not. however, ap-
pear to cut much figure in the days specu-
lative calculations. While there was little
perceptible change in money market
conditions, a greater enquiry for loans on
time was reported. the demand being
doubtless melted by the showing which
the associated banks have made in their
loo 1fe-faT
Although in comparison with last week s
extraordinary active dealings today s
transactions made a rather poor showing,
interest was unusually well diversified.
Thus. among the specialties, Peoples Gas
and Western Union were exceptionally
active and strong the first named advanc-
ing on the favorable statement of earn
ings submitted today, while Western
Union was very strong without any par
ticular news or gossip attending its
course.
The stock has however, been quite
steadily absorbed for some time and the
demand for it might readily enough be
accounted for through the dividend it
pays, together with its relatively low
market level. The next quarterly div-
dend upon the stock will be declared
about the middle of March. but apparently
the idea is not entertained anywhere that
there Will be an advance in the rate.
The movements in the general railway
list were unusually limited. except in
few stocks The fluctuations in Atchison
common we're particularly wide, the deal
ings in that instance being apparently in
fuenced by the varying views as to the
time and rate at which the expected divi-
dend upon the stock will be declared.
The movements in St. Paul. Northern
Pacific and Union Pacific were also
rather erratic. but. as noted, increasing
strength and animation appeared in the
railway list after the close OF the Lon
don selling. Among the lower priced is
sues, the Mexican Centrals were again
conspicuous in respect of strength and
activity.
The Industrial quarter showed the same
shifting anG uncertain tone that charac-
terized dealings in the railways Sugar
Refining was conspicuously strong on bet
tering trade conditions and seemingly
elsc, on the belief that there would be
an advance in the dividend ordered early
in March.
Federal Steel Steel and Wire. and the
others of that general class were firm,
and a particularly sharp advance was
noted in international Paper.
American Smelling was unfayorably al
fected by the reports of the existence
of grave dssensions among the manage
ment of the company but the stock scored
a substantial rally from its extreme de-
preston. The local traction shares. while
again comparatively dull. We're firmer
than they have been for a number Of days.