The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-01-15
Etnnnctul.
THE STOCK MARKET.
Currents Exceedingly Confusing and
Irregular.

| Irregular.
New York, Jan. 14.-The currents in
to-days stock market were exceeding
ly confusing and irregular and the
days contest between speculative forbes
was by no means conclusive. A very
large amount of liquidation was
brought about and there were periods
of acute and general weakness. Some
of the recently prominent stocks in the
advance suffered material setbacks. On
the other hand there weer stocks whose
strength was constant in varying de-
gree throughout the session The SELL
ing movement showed symptoms of
having largely expended itself during
the course of the day and there were
signs of renewed aggressiveness on the
part Of the bull interests and the mar
ket rallied throughout from the midday
| lew level. New stocks came into the
| leadership and there were Indications
that the personality of the leaders of
the speculation had also undergone
| some change. The brokers who We're
the largest sellers in the railroad list
We're very heavy buyers of some of the
steel stocks and 1t was evident that an
| attempt was to be made to conduct
double campaign in the market on the
bear side in some of the railroads. and
on the bull side in the steel stocks. The
market closed in fact with some notable
advances scored in the steel group and
with renewed weakness amongst the
railroads and specialtes, some of the
latter two classes selling at the lowest
on the last sales. There were points of
strength during the day in the railroad
list and amongst quite number of the
stocks not usually conspicuous in the
trading. The Fries had notable re-
covery from early weakness the first
preferred getting up ga above Sat-
urday. The southwestern group show
ed signs of strength and st. Louis
Southwestern preferred got a point
above Saturday at one time, Cleveland
c. c. & St. Louis stocks rose 8 and
Ia respectively for the common and
preferred The National Salt stocks
gained 2 3-S and respectively and
Lead preferred recovered points of its
recent heavy decline. American To-
bacco was 2 1-2 points over Saturday
at the highest. But these points Of
strength were the exceptions in the
market, although they had an effect in
rallying other stocks and in largely re- +
ducing the average net losses. The
market gave unmistakable evidence of
a decline in the speculative Juror and a
disposition to revise the more sanguine
estimates of the high price already at
tanned for many stocks and those ex-
pected for others. Disappointment was
keenly manifest amongst the holders of
st. Paul over the failure of confirma-
ton of the many stories of a lease to
Northern Pacific, now pretty thorough
ly discredited. The stock was forced at
one time below $50, which was 5-5 be-
low Saturday, and closed with net
loss of IA. The other grangers were
weak apparently in sympathy. The
local traction stocks relapsed sharply
after the buoyant movement of satur-
day and Manhattan closed weak at the
OWtSl al Lei u iillIudy idiiy at d Icl loSS
Of SIS. The Pacifcs were vigorously
sold, but Missouri Pacific showed
good recovery. At one time the ma
jority of the active stocks in the list
were from 1 to over points below Sat-
lrday. No admissions could be secured
from international banking houses of
any completed arrangements to ship
gold but with sterling exchange contin-
ling to advance. reserves Of money
-apdly increasing at this center and
continued uneasiness over the future
n London. the conviction is general .
hat a. considerable sum of gold will go ,
)ut and that the movement will be in
,ugurated on Wednesday. There is no
ear that any scarcity Of money here
will result, but the movement creates ,
some inevitable disquiet amongst over
extended speculative interests.
The railroad bond market was weak
n sympathy with stocks. Total sales,
,ar value, $3.50, 900.
United States binds were all I'M ,
hanged on the last call. \
DENIED BY Mr. CARNEGIE