Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1901-02-12
DECLINE In VOLUME.
Dealings Iu stock Market Not Of such
Volume ON Mopday- Some
Points of Market.

New York, Feb. 12-There was 4
very notable decline iii the volume Of
dealings in the stock market Mon.
day and the most active stocks were
those under pressure. with the excep-
ton Of the Union Pacific. which was
bought with persistency on rising
ecaie. The market was again char
acterized BY tie wide movement tn
very large number of nnimpertanE
stocks, which are seldom prominent
in the dealings and which sometimes
do not appear In the record Of trans
actions for weeks at a time. iii this
class some of those recently brought
| forward into prominence continued
active at further advances white
others met profit taking and again
turned back
The movement ii the general list
was extremely confused all day and
the greater part Of The days business
in standard railroad stocks was done
below Saturdays level. London sent
lower prices for the internationals to
start with, and there was some very
/ heavy selling OF Atchison, and at one
time also Of Union Pacific. Il strong
rally III the latter stock and an al
vance in Atchison to 81 brought the
market generally to the best Of the
| day. Union Pacific was lifted
points over Saturday and the pre-.
ferred rs. Pennsylvania was the
only other active trading stock among
/ the standard railroads that rose as
much as point over Saturday, and
! in fact no railroad stock of import
ance fell as much as a point below
| Saturday at any time, thus indicat-
/ ing the general sluggishness of the
| market. The speeialties did better.
| Sugar rising at at one time points
and Peoples Gas rs, the latter on the
good financial showing made in the
annual report.
The steel stocks shared In the slug
gishness of the general market, and
only the preferred stocks of any of
the companies sold as much as point
above Saturday. They were as n
rule, however, firmly held Specu-
| 1ation, having accepted the reported
| merger as Il fact, now waits an au-
| thoritative announcement of the
| financial terms of the deal for Il
| speculative enthusiasm over the ad.
vantages of the proposed deal has
come to be somewhat tempered with
the conviction that the steel trade
would be much worse off failing the
deal than it has been. A rather dis
| agreeable impression to spectators
on the steel deal was created by Mon
days slump ia the smelling stocks,
offering an example Of the possibility
of obstacles to great consolidation
plans, even when far advanced 10
ward completion, and of the demoral-
izing effect on prices of hitch in the
plan.
The money market condition dis
closed by Saturdays bank statement
had a REFRESHING influence, which was
aggravated by the sub-treasury large
subtraction from the market on ac-
count of Saturdays Central Pacific
payment to start the week with.
The hardening of the London market
again turned exchange in all the
great centers, including New York, in
favor of London
The bond market continued active,
but there were some important reac-
lions ON profit taking. Total sales.
par value, s5.750,0o0.
United States IS and new As adj
vanced u per cent on the last call.