The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-02-02
= tnaucral.
THE STOCK MARKE T.
Fluctuations Yesterday Very Pro-
nOunced.

Fluctuations Yesterday Very Pro-
New York, Feb. 1.-F.uctuations ir
the stock market to-day We're very pro-
nounced in number of cases and Pro-
fessional operators were successful In
reviving bullish interest practically as
they saw fit. They resorted to palpable
manipulation at times in order to &C.
quire a following and after successfully
bidding up a leading group they real
lied on their holdings and began anew
in another quarter. AS result the
market displayed at time or another
pronounced strength in every division
| To what extent, If any, the public fig
ured in to- days movements remains
conjectural. Reports of combination Of
various properties continued to be
heard, thereby increasing interest in the
minor railroads. which assumed consil-
cradle prominence in the days deal
! ings.
Later in the day report was cur
rent that Union Pacific had secured
control of the Southern Pacific railroad.
No official confirmation could be had Of
this statement, but the fact that the
market for Union Pacific boiled for a
| time, with the stock rising Az points
on transactions Of 225,000 shares, was
sufficient in itself, according to the
views of the traders, as being author
itative. 1t was admitted that a leading
interest in Southern Pacific has sold
out to a syndicate, presumably repre-
! los
ment, coming on top of ihe var ed re-
ports about impending dividends, extra
ordinFEv earnings, trade combinations,
and so on, which were rife early in the
day, threw the market into excitement
and blocks of from 1000 TO 5000 shares
changed hands with as little hesitation
as if they were fractional lots.
AT the outset the improvement in
prices which gradually gained strength
was assisted by the higher range Of
prices from London. Foreign houses
bought early, but subsequently unload
ed about 100000 shares of Southern Pa
cific. That stocy strengthened some
what after the London selling had ceas-
ed and was practically about the only
issue which did not have bull follow
ing. 1t sagged at the close to 461a, COM
pared with 1914, the opening figure. A
factor which was instrumental in ad
vancing the market to-day was the lack
of any gold engagements for to-mor-
rows steamer to Europe The market
for sterling exchange was closed earlier
this morning, demand bills selling at
4S7%. Later they hardened to 4.SS and
long bills advanced to 4,S4as, at which
they closed
The forecast of to-morrow's bank
statement indicates a gain in cash of
$1,500,000, exclusive Of the probable adj
dition to this figure by government dis
bursements for interests, the sub-treas-
ury to-day having a debit balance of
81 $40 at the clearing house on this
account The gold exports this week of
g. 1874 900 We're entirely offset by the
movement Of money from the interior,
the net gain on this account being 49,
523, 900.
Recurring to the stock market, con-
spicuous features at various times were
Kansas and Texas preferred, Tennessee
Coal, Atchison and Louisville, the lat
ter being strengthened by it's excellent
December earnings. Profit taking be-
came quite general in the late dealings
and material inroads We're made on the
high prices of the day in some stocks
On the other hand, there We're points of
strength and the market closed
very animated and irregular.
Important advances We're made in
many prominent bonds to-day, and ex- I
ceptional gains were made of 6h and |
points, respectively, in Peoria and East
ern incomes and Central of Georgia first |
incomes. The absorption of per cent |
bonds was enormous in San Antonio !
and Arkansas Pass tours and Southern |
Pacific four9. The aggregate transact
tons footed up the exceptional figure Of |
81, 295, 600.
United States threes coupon declined ,
10 per cent. ON the last call.