The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-29

NEW YORK, Jan. 2s.-The speculation
in today's stock market hinged almos;
entirely on the varying movements in st.
Paul stock Advances in that issue were
responded to by rising prices in the gen
erai market, and reactionary movements
in ST. Paul we're attended by recessions
elsewhere.
II had been quite commonly expected,
perhaps, that there would be what IS
styled a wild market at the opening OF
business, but on the contrary the price
changes then recorded were comparatively
limited. Interest naturally centred in
St. Paul stock, owing to the expectations
that some formal announcement would be
made today regarding the details OF The
plan through which the control of The
property would be turned over TO con-
Meeting lines.
Various rumors in regard to these de-
tails we're persistently circulated through
out the day, but as they were wanting n
authoritative sanction, the fluctuations m
St. Paul were decidedly erratic.
Comparatively large dealings in the pre-
ferred stock at advancing prices were
generally assumed to indicate that The re-
ported negotiations were likely TO have
successful Issue As was to be expected
the movements in Northern Pacific. which
was one of the active features OF the days
market were closely in line with those
in ST. Paul. Broadly speaking, however,
the dealings in the railway list we're eA-
tremely irregular.
Missouri Pacific was reaetionary, while
there was a further and very decided rise
in Missouri, Kansas. and Texas Pacific
preferred Norfolk and Western common,
Louisville and Nashville, and the granger
shares were all remarkably irm.
An interesting, although perhaps pre-
mature, report which obtained cire ulatton
as the day passed en- was that the control
OF the Wabash property was likely to Be
acquired ia the interest OF the Delaware.
Lackaw2nna am Western
The days dealings attained large az
gregate and interest was we'll diversified.
although activity was soGaew hat httul and
the trading was punctuated by occasional
periods of quiet. Among local traction
shares Manhattan Railway was the con-
spicuous feature in a sharp advance.
while Brooklyn Rapid Transit was COM
paratively heavy. No special gossip. how
ever, attached to the movements in either
stock.
There we're fairly large dealings in the
Industrial quarter, with conspicuous
strength showing in Sugar Refining and
National Tube. Interest was given to the
dealings in American Steel and Wire, on
account of the expected action on the div
idend on the common stock. Notwith-
standing that the street has been flooded
with positive assertions that no dividend
will be declared, the stock was compare
lively firm.
Among the lower priced industrials, con-
spicuous strength was displayed by Uni
ted States Leather common.
With the exception of st. Paul, which
was shown at sharp advance in the Lon
don stock market. only irregular changes
appeared in the American quarter. For
eign houses had comparatively small or
ders in this market. but they were almost
entirely on the selling side.
Money market conditions were unalter-
ed and d further advance in sterling ex-
change foreshadowed additional shipments
of gold toward the close of the week.
large number of unucualiy interesting
statements of railway traffic were sub
mitted.
The market was very much unsettled in
the last hour, chiefly because Of the un-
certainty as TO the status of the st. Paul
negotiations, together with the uncertain
ty as to the action of the directors of the
American Steel and Wire on the dividend
on the common stock. Both this stock
and Federal Steel were decidedly weak.
The movements in the railway list con-
tinued to be almost wholly dominated by
St. Paul Reports were current in the
afternoon that the stockt5i ders would ac-
purchasing syndicate, and in consequence
of these reports st. Paul declined rapidly,
carrying down with II the remainder Of
the market