Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-02-09
FINANCE AND TRADE
Atchison Stock Advanced Sharply
Under Heavy Buying.
WHOLE RAILROAD LIST STRONG
Steel IssuesWere Stationary Pend
ing the Combination,
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, February 9.-Today's stock
market was irregular throughout the en-
tire session, profit-taking sales being con-
spicuous i'm all of the recently active
shares.
London sent over a slightly lower range
of prices and traded moderately on both
sues of the market
The expected official announcement of the
steel combination was not made, and the
predicted advance in those shares did not
materialize, although prices We're well sus-
tanned
Erie issues were expected to show new
strength, but instead were merely steady
within fractional limits. There have been
some inside developments in this property,
however. which give rise to very confident
assurances of materially higher prices.
The Union Pacific issues showed signs OF
profit-taking, and there was little effort
made to resist such tendency. The pro-
posed bond issue is variously construed,
but the best opinion seems to be that tho
stocks will be kept strong until all the
bonds placed,
The underwriting syndicate will look to
this feature of the transaction, even though
the public should remain skeptical.
Atchison issues were conspicuously strong,
the common stock especially moving up liz
per cent in the last five minutes to the high
est price yet reached. There are all sorts
of prospective deals concerning this prop
erty. and the pool in the stock Is making
the most of them
Burlington is much discussed in connec-
ton with the western railroad situation.
and the indications are that something will
shortly be done to insure the roads partici-
patton In the community of ownership plan.
Southern railroad and Louisville and
Nashville are strong under a steady de-
nand and indications point to greater
p, ominence for them during the coming
week.
The Industrial list seems certain to be-
come the dominant influence as the result
of the steel combination, and some wide
fluctuations in that department are ex-
pected. Because of this new interest in such
securities. American Sugar and the Tobacco
stocks growing in favor. The latter
shares have become we'll known to a GER
in the condition Of the sugar trade and tho
reduced taxation on tobacco afford a salts
factory incentive to higher prices.
The bank statement reflects a gain Of ST.
692,900 in lawful money, all of ii in specie.
The loans have increased SOB 4S1 200 as the
result of the numerous deals now being
financed. This increase in loans and the
gain in cash are shown by an increase of
S24, 676, 400 in the deposits. The gain in
the latter item naturally calls for large
reserve, and the surplus reserve holdings
are reduced S4,476, 200. or to $50 362 625.
The market was rather heavy just prior
to the publication of this statement, but
rallied irregularly later The main force
behind the market is as yet superior to such
showing, and preparations have been made
for temporary disappointments. The money
rate is almost certain to advance, but the
market may be held in spite of such action.
The times. however. favor caution.