Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-01-21
Heavy Selling Of Stocks for Both Ac-
counts Today.
GOOD BUYING ON DECLINES
Missouri Pacific Supposed to Be
Cornered by Rockefeller.
GENERAL MARKET REPORTS
Special DISPATCH TO The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK. January 21.-Today's stock
market opened weak under pressure to sell
stock for both accounts. The selling UNI
covered some stop orders and the days
lowest level was due to these precaution-
airy limits. The first hour was the most
| nervous Of the day, the Morgan and Stand
ard Oil interests coming to the support OF
prices after that time, and forcing sharp
recoveries
London was a moderate buyer in spite OF
the gloom incident to the critical condition
of the queen. The home markets were
weak, but the American department was
given good support The impending loss to
the British nation has been Invested of its
most hurtful phase in financial sense, by
the last few days of expectation. The sue.
cession Is assured, and any monetary
disturbance should be limited to a senti-
mental decline only. The general accept
ance Of these views encourages the belief
in the stability of the local market and ex-
plains today's willingness to buy on all de-
clines.
The most interesting stock in the present
market Is unquestionably Missouri Pacific.
The recent buying has resulted in estab-
fishing what amounts. for all market pur-
the stock is a mystery. but prominent
Standard Oil fnancier is supposed to be In
control Of the property. and can fix the
price at whatever figure he elects.
There were rumors that the day for sell
Ing on the part Of the short interest would
fall within the present week, and that par
would be reached in the process A non
dividend-paying stock selling around &c
must have something extraordinary behind
1t to explain It's selling price. 1t Is limited
that considerable block of treasury stock
has recently been sold and that the di-
rectors were the buyers Should this be
true the short interest is again victim of
misplaced confidence, since the selling OF
such stock was relied upon to assist the
covering movement.
The buying of ST. Paul, Erie and North
ern Pacific was considered very good on the
decline, and all these issues rallied easily
during the afternoon. The deal Is not dis
cussed openly, but there is confidence in
the underground diplomacy now being en-
ployed to bring it about.
The steel stocks are the subject Of much
conflicting comment. and the average trader
is afraid to follow any of the numerous
opinions as to their probable direction. 1t
Is certain that competition has reached an
acute stage, and 1t is not known Just how
to meet 1t. Some interests favor a general
Strengthening Of position and openly defy
ing the recent Carnegie utimatum.
Certain large banking interests adhere to
the old view that there is no profit in a
commercial fight, but cannot see just how
to finance the Carnegie plant. This buy or
fight policy is a difficult one to forecast
and the public, recognizing this. stands
aloof.
The Traction stocks, especially Brooklyn
Rapid Transit, were given good support.
Money continues easy and is in good sup
ply.
1t was rumored on the board during the
last hour that John D. Rockefeller had
transferred 100000 shares Of Missouri
Pacific to his name The price of the stock
crossed 30 under the influence of these re-
ports. A squeeze of the short interest is
certain.