The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-09

terday. Soon after II O'Clock there came
n sudden break that cost the list from
half a point to two points in ten minutes.
Later in the day there was a fair
recovery all over the list. Any
analysis of the market as TO its i'm
mediate fluctuations is out of the question.
There is undoubtedly immense realizing,
but up to the present time the buying on
every break has been of an even larger
amount, so that it has been impossible to
judge if the advance would continue or
give way TO big decline. Yesterdays bust
ness had little less buoyant aspect on
the whole than that of Monday owing.
perhaps, to the talk of the probability CT
gold exports, but it may very easily, &C.
cur that change of sentiment will de-
velop before tomorrow that will make the
public rampantly bullish again. Money
was easy and bankers said that this coun-
try could send $4,000 coo or double that
amount away without disturbing the finan-
cial situation in the least. There was lit
tie new in the gossip of the day.
The Gould stocks were the features Of
the day. Missouri Pacific was the leader
of the group, with an advance of five
points. to another new high price record
81 5-S, at which it closed. Ii is now we'll
nigh assured that the stock will be put on
a dividend basis. Also it seems probable
that it is cornered. Missouri, Kansas and
Texas and Texas Pacific followed Missouri
Pacific in its upward course. Texas Pa
cific went TO p and closed at the top. Kan
sas and Texas sold as high as As.
The grangers were again bulged nearly
to Mondays high level before IL o'clock,
Rock Island getting above 12S, and st. Paul
10 161. They tumbled sharply before noon,
St. Paul reaching 156 1-2 in a few quota
lions. The bears are again selling St. Paul
on The theory that "all the good news is
out on the stock but so far these same
bears have had wonderfully unpleasant
experience with the stock, and it is not
unlikely that It will be repeated. If the
stock is TO receive I per cent dividend
land it is not believed that the directors
would accept less from the Great North
eTnD there can be little doubt that it
will sell at 1I5 in the next few weeks, or
as soon as the news is announced Off
cially A little patience may be required.
and on the other hand the movement may
occur today or tomorrow. The close in the
group was irregular. but averaged off
fractonally for the day.
The Reading securities refused again
yesterday to advance. They are no high
er in price than they were when the Read
lug Jersey deal was announced This is
OF course, due 10 redilZlnR on the strength
of the news. The Readings usually make
a sharp bulge of or points and then
wait until the people who get in at the
top get tired out and sell. This may be
what will occur now. The securities are
among the cheapest on the list at the
present price and may be bought with con-
idence on all reactions according to some
of the people closest TO the inside. The
first preferred sold as high as 70 yesterday
and as low as ~ rs. 1t closed at % SIS.
Delaware and Hudson spurted again to
147 1-2, closing at the top. Ontario was
strong again and ii seems probable that
some announcement regarding this COM
pany may be near at hand. 1t is the only
anthracite coaler that the Morgan inter
ests have not in absolute control
The tip to buy Western Union is heard
again and il is persisted in by houses
usually well informed. When the boom
comes in this stock many professional
operators will sell out their long stock
all over the list. Western Union has a
way of ending the upward procession. 1t
made no movement yesterday, closing at
SO IA.
Nothing new regarding the steel situa-
tion was heard and the steel securities
generally were not active or conspicuous
f~,.c To,