The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-12
TOTAL sales CUT down
A Noticeable Falling OFF in the
Volume of Business.
The Tone of the Market Fairly E7;-u,
With SHARP Recoyeries IN m
Quarters - Railways and Indus
trials steady With Few Exceptions
Money Continues Very Easy.

NEW YORK, Jan 1.-THE most strik-
ing feature of todays market was the
falling away in the volume OF business
The total reached on the days transac-
lions did, indeed foot up an aggregate
which in ordinary times would have been
accounted very large but the total sales
suffered materially in comparison with
those of the earlier part of the week.
The tone of the market, on the other
hand, was decidedly firm, and some siarp
recoveries were scored in various guar eTs
of the market.
According to the preliminary estimates
the banks have gained through the known
movement of money during the week up
ward of $1,000. 600. 1t is thought also that
part of the gain in cash which failed
to appear in last weeks statement of
averages will be fully shown this week
The money market continued extremely
easy, and sterling exchange remained at
yesterdays level. 1t is the general ex-
pectation that some gold will be shipped
next week. but there is still some uncer-
tainty in regard to this matter
There was nothing of any moment of
novelty in the news of the day bearing
upon the general market or particular
stocks. apart from the large number Of
railway traffic returns for the first week
Of the month.
The most pronounced movements in
prices in the railway list were in Balti-
more and Ohio, Chesapeake and Ohio, New
York, Ontario and Western, and Norf Tx
and Western. The Pacific stocks were also
exceptionally firm, as were the granger
shares, although the movements in St
Paul continued exceedingly cratic. The
local traction shares were more anina ted
than for long time and were generally
firm
There were irregular movements in the
industrial quarter. National Tube break
ing sharply, while Federal Steel was also
somewhat reactionary. There we're, on the
other hand, pronounced advances in Amer
lean Smelling. Sugar Refining and United
States Rubber common. Among the spe-
eialties Peoples Gas was fairly steady and
western Union also on continued large
business.
IL may be noted that the particular
course OF Norfolk and Western was at
tended by rumors that the stock would
soon be placed upon a dividend paying
basis, while the giraffe movements in ST.
Paul again reflected the uncertainty felt
as TO the actual status of that cempany's
affairs. Notwithstanding the severe reac-
ton in the stock the idea is still retained
In many quarters that there is sound
groundwork of fact behind the rumors
recently current. The fluctuations In Della
ware and Hudson were likewise exceeding
ly wide, the movements in that instance
also rejecting the various reports that
have been current in regard 10 the final
disposition of that property
The rather sharp break in National
Tube common was on selling apparently
induced by appreheDsions as to the effect I
upon the company Of the new threatened
competition. A decline in the Pressed Steel I
Car shares led to the report that there
was some uncertainty as to the rate of
dividend on that stock
The market breadened materially with I
the course Of the day, and in the later
dealings was strong and fairly animated /
A feature OF the market was North Amer /
lean, which advanced rapidly on large
dealings. American Smelling also rose
sharply on reports that dividends at the
rate OF s per cent would soon be estab-
lished on the stock The fluctuations in
st. Paul and Delaware and Hudson were
very wide, but as already noted the gem
eral tendency Of the market was decidedly
firm.
The special activity appearing in Della
ware and Hudson was explained in the
last hour, when it was announced that the
dividend on the stock for the current cal
endar year had been fixed at per cent
an advance of per cent over the rate
paid last year. The declaration of the div
idend was attended by an exceedingly yio-
lent rise in the stock. It was also re-
ported as regards the Delaware and Hud-
son Company that very large amounts of
the stocks had changed hands outside Of
the stock market having been acquired by
interests DESTROYS OF obtaining control of
the company.