Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-01-12
Big Jump in Manhattan Due to Ru-
NOR of Lease.
PART OF GAIN AFfERWARD LOST
Good Buying Of the Southwestern
Railways Shares.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening star
NEW YORK. January 12.-Following the
line of recent precedent today's stock mar
ket enjoyed a sensational advance In one
stock. while mixed dealings were in prog
in the general list. The rumored lease
of Manhattan by Metropolitan. with guar
anteed dividend of per cent caused a
sharp advance of points in the first
named property. Late denials of such a
transaction resulted in a concession of one
half of this gain. The story is credited in
certain quarters, the only misleading fea-
lures being in the details of the lease, II is
said. All Of the Traction stocks became
strong under this influence, but Brooklyn
Transit is thought to owe its strength to
an absolute change of control, rather than
to lease Of any sort to another local line.
The coal stocks opened higher, and were
In good demand. in spite Of heavy realizing
sales in all parts of the room. Support was
shown in Erie and Ontario and Western.
but there was little effort to force an ad-
vance. The Pacific shares were irregular.
but Northern Pacific is still looked upon as
a certain leader OF the market. and Union
Pacific has dividend prospects outside OF the
various combinations which the gossips
have arranged. and is being we'll bought in
consequence.
The southwestern roads are the subjects
Of much favorable comment but the
strength Of Missouri Pacific is something OF
menace to the speculation in those prop
critics. Deserving properties advancing with
one In which manipulation is the strongest
argument are likely to be lost sight Of in
the event Of any mlshap to such a leader.
The steel stocks were erratic. sharp
break in American Steel and Wire just at
the close Of business unsettling the entire
group. Some surprises are expected In the
steel trade and traders are at loss 10
know what direction will be given stocks
once they become known. One Of the most
dominant interests In the present market
buys Federal Steel wherever any departure
Is made from the railway list
a special transaction In gold is said to be
under consideration by leading bankers and
indications point to an export movement
about the middle Of next week. The out
ward movement is not entirely natural even
in the face Of the strength Of the foreign
exchange market Europe needs the gold
and the best evidence that New York can
spare is found in the fact that larger banks
are willing to finance the operation.
The numerous railroad deals of unprece-
denied magnitude now in progress are be-
ing conducted by the very men who could
prevent this gold movement, were 1t in
any degree menace to their rapidly ma
turing plans. The gold can 20 as an &C
commOdatiOn without serious Inconvenience
to the present owners
The bank statement exceeded expecta-
lions, inaSmuch the gain In cash was
some two millions larger than the most
loans Increased A.O42.S 800. and the deposits
have gained $143S6, 100. The net result II
shown by a gain of $S,051975 in the sur.
Plus reserve.