The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-26
RAILWAY SHARES ACTIVE
The Market Closes With Tend
ency Toward Recovery.
Brooklyn Rapid Transit Rises on the
Publication Of Observation-Disclosures
mt the Beginning of the Day End
I'm n General RaIIy-Advanccs I'm
ST. PnuI and Missouri Pacific.

NEW YORK, Jan. .25.-The movements
in today's stock market were more than
ordinarily ductuating and irregular, but
underlying the dealings there was observ-
able a perceptible tendency toward re-
covery. There were number of material
declines shown at the opening of bus mess
the tendency then being apparently owing
both to the recession in American stocks
in London, and to a continuation OF yes
terday's selling movement AS has been
the case for some time, the pressure was
most evident in st. Paul, Northern Paci-
fic, and the steel stocks Foreign houses
followed up the lead set in the London
prices, and on balance sold a small
amount of stocks in this market, but the
total dealings on this account were not
large enough to affect prices materially.
During the forenoon speculative inter
est was largely occupied in Brooklyn
Rapid Transit, on account of today's cleo
tion of directors. After substantial de-
preston in the early dealings the stock
rose rapidly upon the publication. little
after noon, of the company's statement
of earnings for the six months of the ifs
cal year. wherein increase of nearly
% per cent was shown, the gain resulting
almost entirely from the heavy reduction
in operating expenses. The changes in
the board of directors, which had been
looked for by some. did not take place,
although some significance was attached
to the election to the beard of a practical
railroad man of wide experience. The
other traction shares were favorably af-
fected by the strength of Brooklyn Rapid
Transit, and the Manhattan Railway ad
vanced on fairly large dealings.
The general railway list again furnished
the bulk of the days dealings and the
more extensive price movements. Some
of the so-called specialties in that quar-
ter of the market rose very rapidly, note
worthy instances being Minneapolis and
st. Louis, st. Louis and Southwestern
preferred, and Missouri Kansas and Tex
as preferred. Missouri Pacific was also
conspicuously steady, even throughout the
early irregularity. There were sharp re-
coveries in ST. Paul and Northern Pacific
after the opening dealings. Other strong
features of the railway list were Atchison
shares. Southern Pacific, and Louisville
and Nashville. c., c., c. & ST. L. declined.
probably on the disappointment at the
rate of dividend recently declared and
the Erie issues and the anthracite coal
shares generally were somewhat unset
titus luts lOUh part III tue
mon midday recovery. None OF the move
ments in the railway list was attended
by any complimentary reports Of the kind
recently in circulation and il begins TO
look as If speculation may hereafter be
conducted upon considerations of intrinsic
merit in the recently effective mysterious
deals.
In the specialties there was noticed 4
sharp rise in Consolidated Gas. Tennes-
see Coal and Iron retained the strong
tone that has recently characterized the
dealings in that stock. The industrials
showed the same movements that marked
the remainder of the market. American
Tobacco. Continental Tobacco. and Sugar
Refining were decidedly strong. There
were Irregular movements in the steel
stocks generally. with a rather sharp de-
cline appearing in American Tin Plate.
There were many traffic returns sub
mitted for the third week of the month,
and. while the showing made did not APP
pear to cut any material figure in the
dealings, they will, nevertheless, repay
attention. The money market was ex-
tremely easy and large amounts were ac-
tually lent as low as ! 1-2 per cent. these
transactions, of course, carrying over
until Monday.
The market continued strong through
out the afternoon, the issues of all South
western companies conspicuously strong.
There were further recoveries also in St
Paul and Northern Pacific, and in fact,
the tendency toward recovery which man
ifested itself in the early dealings be-
came most decided with the course of the
afternoon.