The times. [volume] (Washington [D.C.]) 1897-1901, 1901-02-02
HIGHER PRICES PREVAIL
Irregular Advances Characterize
the General List
4 Reaction in Southern Pucifc-RaiI-
road shares Active and Rising
without Attending Gossip - In
dustriaIs Command Attention
Changes i'm Two Quarters Rumored

NEW YORK, Feb. Prices rose again
today in the stock market. not in a uni
form manner, but in a way showing
plainly how speculative interest now shifts
rapidly from one stock to another or from
one quarter of the market to others
Southern Pacific. for example. which was
one of the chief features of yesterday
market in respect of strength and &C.
tivity. was conspicuous exception to the
general tendency today in very sharp
reaction which took place on dealings OF
almost equal volume to yesterdays note
worthy transactions.
No more definite information was at
tached to the reaction in the stock than
existed during its noteworthy advance
yesterday. London houses sold tremen-
dous blocks OF Southern Pacific, one cir
cumstaDce in its decline. although they
were otherwise buyers in this market,
taking on balance upward OF $4,000 shares
OF stocks.
As against the course of Southern Pa
cific, the Atchison shares retained the
strong tendency they showed yesterday.
making further sharp advances. Else
where in the railway list Burlington and
Quincy and Kansas ana Texas preferred
and Union Pacific made striking advances.
The dealings in Missouri Pacific were par
ticularly heavy and the fluctuations were
wide Texas Pacific was q conspicuous
feature among the lower priced shares,
but nothing that was definite could be
learned in connection with its exceptional
strength, or that of the Southwestern is
sues generally.
A very sharp advance In the Denver and
Rio Grande issues was likewise wanting
in explanation, apart from the plain in
Stl ara
stock market, broadly speaking, so evil
IDENTIFY rests. The trading continued &C
tive. and interest was generally diversified
throughout the market.
The industrial quarter the local trac-
lions. and the specialties received rather
more attention than for some time. Sugar
Refining advanced on large transactions
that had no other explanation than the
optimistic utterances of the president OF
the company prior to his departure for
Europe yesterday. The group Of stocks
classed as the steel industrials was gen
orally firm without being particularly &C
tive.
Evidences of some change in the af-
fairs of the American Steel and Wire Com
pany are not wanting. Wall Street firm
which has been soliciting proxies to be
employed at the forthcoming annual meet
ing, presumably against the present con-
trolling interests, today announced that
they lad abandoned the intention of max
ing a contest. They also intimated a
change of plan on the part OF their prin-
cipals, the nature Of which was not fur
nished. Il Is understood that some rather
surprising new forces may soon make their
appearance in the affairs OF this concern.
Among the specialties there were sub
stantial advances in North American,
Amalgamated Copper. Peoples Gas, and
Tennessee Coal and Iron AS was the case
in the railway list, however, little OF
nothing novel in the way OF news or gos-
sip could be cited in connection with the
strength Of these stocks, although the
opinion is growing that sweeping changes
are impending in the affairs OF the Ten
nessee Coal and Iron The local traction
shares. while somewhat sluggish, were
firm.
The bond market continued exception
ally active, with large dealings in the
Southwestern issues while Peoria and
Eastern incomes scored a fairly sensa-
tional advance. The trading did not ap-
pear to be restricted to any material ex-
tent by reason of the protracted cessa-
tion of business approaching nor by the
prospect that the banks win make rath
er Indifferent showing in their statement
tomorrow.
A number of interesting statements of