Evening star., 1901-02-05
FINANCE AND TRADE
Good Buying Of Stocks Started by
Londons Initiative.
ACTIVITY IN TIE STEEL ISSUES
Atchison Was Again the Object of
Long interest.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February 5.-Trading in to-
days stock market reflected a we'll dis
tributed volume of business, in which man
ipulation and public buying both appeared.
London sent over a generally higher
range of prices and gave especial proni-
nence to the Erie issues, thereby reviving
interest in them after a period of neglect.
Renewed assurances that the first pre-
ferred stock of this company will be put
upon dividend basis were responsible for
the new demand
All of the coal stocks came to the front
later in the day and advanced substantially
under mixed demand. 1t cannot be said
that the advances were due primarily to a
public or investment inquiry. An oppor-
tunity for advancing the coal shares was
discovered, and the willingness of the larger
interests to see higher prices allowed the
room to bid up all the likely shares. Read
ing issues were advanced easily, Ontario
and Western moved up naturally and Del
aware and Hudson Lackawanna and the
high-priced issues made sharp advances
upon limited dealings.
Pennsylvania seemed to have the bene-
fit of some really good buying, and there
was very little stock pressing for sale.
The soft coal roads are expected to at
tract attention at later date. Southern
and southwestern issues were all strong,
quite as confident ever of their ability
to continue the advance.
Southern Pacific rallied late in the day
and the heavy realizing which followed
the Union Pacific announcement seems to
have subsided. Atchison made a new high
record getting up to IS under skillful ma
n!pulahon and some good buying based
upon its earning capacity. There is also
prospect of an alliance with a prominent
granger road, which helps the market for
the stock.
Wabash preferred gained nearly per
cent during the day, but around 80 the pool
met some stock and seemed averse to fore
ing the advance. If all the consultations
which have a reasonable prospect Of sue
cess are carried out 1t is certain that Wa
bash must be considered sooner or later.
The denial of the rumor that New York
Central had acquired control of Manhattan
chilled the speculation in the latter stock,
but did not cause weakness. 1t is thought
that this denial Is literally true but 1t does
not seek to deny that some change of own
ership may take place and that interests
identified with New York Central may be
conspicuous.
Vanderbilt control is what the street ex-
poets or hopes for, and not control by a
single corporation owned by the Wander
bilts.
The steel stocks were the features of the
market during the afternoon under a big
buying demand, and made substantial gains
III almost every instance. Federal steel
was well bought by the largest houses in
the street. and steel and wire gained new
, strength from a mixed demand, in which
short interest was prominent.
Talk of a satisfactory settlement of the
Carnegie difficulty now finds believers in
conservative quarters, and much of the
new buying is based on that prospect.
Taken as a whole, todays market was
broader and less professional than at any
time for week. Opinion is divided upon
the chances for continued Improvement