The times. [volume] (Washington [D.C.]) 1897-1901, 1901-02-06

NEW YORK. Feb. 5.-Today's move
ments in the stock market again pro-
duced some noteworthy resul in respect
both of activity and of movement in
prices. Broadly, it was evident the spec
uIatlon was following the same lines and.
generally speaking was governed By the
same considerations which have teen ef-
fective for some days.
There was today indeed, material and
gratifying falling away in the amount of
rumors Of enc kind or another which
were so freely circulated yesterday. They
were. however. by no means wholly alb
sent. and the speculative community
seemed to find them necessary to account
for some Of the more extreme price move
ments shown Most CT them were wholly
unsubstantiateG and do not require pc
tition.
The NEST conspicuous features of the
railway lists were the Atchison issues,
the Denver and Rio Grande shares. Mis-
souri, Pacific, ST. Louis and Sou,hwest FERN
preferred, Texas and Pacific, and va ash
in the Atchison issues might wi h reason
have been accounted for by the Gu relt
status of those stocks. considered from a
point of view Of probable dividends.
1t is generally believed that the Atch
ison management will feel themselves
compelled, with the course of the year,
to make some distribution of profits on
the common stock and such n course
would certainly appear TO be nothing
more than equitable. Wall Street may
yet prove to be correct in its views that
there is some deal in which the Atchison
company is concerned, but apart from
any confirmation. the rise in the stocks
would appear to be warranted by more
prosaic circumstances.
Missouri Pacific was a very conspicuous
feature, and scored q noteworthy adva nee
on tremendous dealings. In This instance
1t is commonly unders ,ood hat dividends
on the stock are TO be resumed in the
spring, and On d substantial basis. While
the net returns Of this properly are not
available TO the public at large. il is
generally understood that they have Iean
exceedingly satisfactory to the manage
ment, ard warrant them in taking the
course indicated.
This prospect might. in ordinary cir
cumstances, be accounted sufficient TO ex-
plain The course of Missouri Pacific. apart
from and of the further developments,
but the appetite of the street has been
SO whetted Of late through recent familiar
transactions that it has poor relish for
such simple diet as earning power and
dividends. 1t is thought. however, that
comprehensive plans are under way look
ing TO q better Unification Of control of
the so-called Could properties IN the
Southwest. and it may be assumed that
the recent conspicuous strength shown IN
these issues is thereby explained.
Today's market was broad and active.
Northern Pacific and St Paul again Jagged
behind the remainder of the market. I'm
ion Pacific was also comparatively slug
gish until the last hour, when it ad-
vanced rapidly, while on~the other hand
Southern Pacific was firm throughout
The bituminous coal stocks were more
active and stronger than for many days,
with a notably sharp rise appearing in the
Hooking Valley issues.
The street was unable TO discover any
deal Tumors affecting these stocks. or any
other explanation aside from the per
cent annual dividend payments on Hook
ing Valley preferred out Of the company's
surplus earnings. The anthracite stocks
were also drmer and more animated than
for number Of days particularly for he
Erie and Reading issues. II viii be seen
from the above review of the days deal
ings that speculative interest showed
decided shifting from the quarters of he
market in which il has recently teen
most active into others.
There were large dealings In the indus
trial quarter. where many material ad-
vaDces were scored. The Federal Steel
issues we're particularly strong as were
National Tube, National Steel. American
Smelling, and American Steel and Wire
The Tobacco stocks also advanced rapidly,
presumably in connection with the prog
ress Of the revision of the Internal Peye-
nue. law now under way in Washington.
The general tendency Of the s. eel stocks
was, of course. based on the measuree
now under way looking TO the restora on
OF order in that important industry. The
rise in Tennessee Coal and Iron and the
strength in. Colorado Fuel and Iron were
doubtless a reflection of the same general
cause.
Yesterdays animated speculations in
the local traction shares we're seemingly
dissipated today by reason of the lack of
confirmation of the sensational runners
current al the close of business yesi err
day. ANY way. those stocks took little
part In the market after the opening The
days actual news was really limited to a
number Of gratifying exhibits of railway
traffic reported by lines in various sec
tions.
The money market con .inued exceedingly
easy, and while sterling exchange vas
firm, foreign banking houses did not look
for any shipments Of gold prior to the end
of the week
The market continued exceedingly active
up TO the close, and showed the same d.
Versifica ton and shifting OF interest that
had characterized it throughout the day.