The daily morning journal and courier., 1901-02-15
Etnam1ral.
THE STOCK MARKE1.
List Shows Some Recovery from Yester- 1uu

List Shows Some Recovery from Tester
 day.
 New York, Feb. H.--There was a
 marked relaxation to-day of the press
 ure to sell stocks which carried prices
 downwards yesterday, and the lists
 showed some recovery. The recovery
 did not set in until sentiment of the
 market had been further tested by the
 pears, causing general declines below
 yesterdays level In consequence the
 net changes of the day are as rule small but mostly gains. London ad- vanced prices before the opening here,
 put turned seller after perceiving the drift of sentiment in New York, and sold a few thousand shares on balance. There was no manifest cause for the recovery, although few usually ob- Scure stocks showed aggressive strength. But the fact was very evil dent that yesterdays urgent pressure of speculative liquidation was relaxed. The bears who sold yesterday covered their contracts in consequence. This probably accounted in great part for the show of firmness in the market. In yesterdays decline much was made of that fact that the stocks generally included in the interests of the promi- nent financier who has borne the most important part iil the recent consolida- tions were uniformly weak and .this was alleged to be due to the coming depart ure of this financier on his annual va cation trip to Europe. As though in re- ply to these considerations, the stocks thus involved were all supported to-day including Federal Steel, the Fries, the Readings, Northern Pacific and Ma tional Tube. The sharp recovery in the steel stocks served as an admonition to those who have counted upon a break in the group. The announcement of the terms of the steel merger are be- lieved to be imminent, and the whole speculative world is profoundly puz- zled as to what the terms will be- With this development hanking over the mar ket. there was hesitation and more or less apathy in the trading. There was no sign of resumption of the heavy buying by banking interests which has so often been in evidence previous to the recent consultations Pere Mar Francisco 2 3-4, the second preferred Is, Chicago Great Western preferred E 3, and a number of minor stocks a considerable amount on persistng r,l- mors of consultations. Lackawanna rose an extreme 1-2 and Delaware and Hudson 7-S over last night. General Electric was conspicuous for an ex- treme advance of 16 points over last night, with a reaction of 1-2. The | local traction stocks, Sugar and To- bacco were conspicuousy strong at | times and North American was forced | up points, Atchison was lifted above | 47. None of these gains were fully held. | The tone of the market was rather | heavy at the close and the volume of | fered dealings very materially curtaied A number of newly listed securities were dealt in for the first time, includ- Ing the stocks of the American Agri- cultural Chemical company, the cruci- ble steel company and the Toledo, St. Louis and Western Railroad company he quotations of each being advanced over the opening prices. Indications continue of a harder money market, he ub-treasury friday taking $267, ,0OO rom the market on routine operations, n spite of heavy disbursements for pen- ,ions. Sterling exchange was lower in ;pite of the continued a%ive demand Or money in London.
 There was less doing in railroad ponds and prices continued to move ir- ac1IIar1 Total aales mar yaI,la HA 1Ah. | OO.
 United States new fours and fives ad-H ,anced IA per cent. each on the last all.
 NEW FORK STOCK MAHKET,