Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-01-07
FINANCE AND TRADE
Another Day Of Heavy Trading on the
New York Board.
GREAT ACTIVITY IN RAILROAD LIST
There Was a Heavy Selling Move
ment in Chicago.
GENERAL MARKET REPORTS
pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, January Trading was re-
srmed this morning upon a large scale and
was decidedly mixed in character. London
sent over a higher range of prices and for
eign houses traded both ways Chicago
houses were free sellers of the mscella-
neous list. but the sales from that center
made no impression on the market Phila-
delphia was credited with liberal selling TO
take profits. especially in the Reading is
sues. In spite of this selling and the in
creased caution in certain quarters, he
market held remarkably WELL In a few
instances new high prices were made.
Baltimore and Ohio shares were the feat
ures of the early dealings, selling we'll up
above any recent level the result of
prospective benefit from the Reading Jersey
Central transaction The coal situation Is
rapidly approaching the invulnerable stage
and the few coal carriers not already with
In the community Of ownership plan are
to be brought in shortly. In the case OF
Baltimore and Ohio there Is the double
feature of a trunk line and coal property:
In each capacity the road is desirable to
the interests now consolidating the various
systems into through lines.
Ontario and Western was strong. as the
result of a rumored alliance with Delaware
and Hudson. The buying came from
prominent operator, who started the de-
mand when the stock was almost entirely
neglected under twenty some months ago.
Now that the coal roads are to come into
one comprehensive arrangement. and with
rate wars eliminated, this property has
been given value quite beyond the most
hopeful predictions year ago.
The Erie issues continue active and hold
well In spite of realizing and the confused
view of value now held by the street. Tho
new interests do not sell. and therefore 1t
would seem that something yet remains to
be done in the interest of higher market
prices, If not of actual value.
Northern Pacific is being allowed to take
care Of Itself but the original predictions
OF par for the common stock are insisted
upon by good judges.
The buying of Southern issues which was
so conspicuous ten days ago. appeared
again today. and In considerable volume
The preferred and common stocks are being
accumulated. 1t Is thought by Pennsylvania
interests. Burlington and Rock Island
werc strong at times under confident de-
mand from friendly interests, who predict
favorable developments In them shortly.
Atchison issues are we'll spoken of I'm
many influential quarters, but the time for
an active advance Is not ripe apparently
The per cent preferred stock of this
company Is growing in favor with investors
Tennessee Coal and Iron made the most of
bad bargain and passed the dividend on
Its common stock entirely. This property
came through a series OF reyerses which
forced the value Of the stock down around
10 for time, and then recovered gradu-
ally until it steadied in the forties. From
this point to 126 it made sensational ad-
vances and finally an per cent dividend
rate was declared, which seemed to justify
the new value.
small issue of preferred stock was re-
tired and then heavy profit-taking began.
The price broke to 53 today, but recovered
slightly. From no dividend to per cent
and back to the starting point is something
of record for a period of a little more
than one year. Episodes of this character
make railroad stocks popular.
New activity and higher prices in the
Traction shares were the features of the
last hour