The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-10
ADVANCES IN RAILWAYS
The Feature of Yesterdays Trans
actions in Stocks.
Pronounced Activity in the Van
derbflts. Louisville and Nashville.
dustriaIs Depressed with the
Exception of Sugar Refining.

NEW YORK, Jan. 9.-Ail of the phe-
nomena which have prevailed in the
stock market since and shortly proceed
ing, election dPv were again evident in to-
days dealings. There have been, further
more, very few occasions upon which the
advances in the railway list were so COM
mon and pronounced as they were today.
There was witnessed another of those
shifts in speculative interest, which have
characterized the current market and this
morning the activity and the more pro-
nounced price movements were in the
Vanderbilt shares. Louisville and Nash
vile, Union Pacific, Texas and Pacific,
and the Wabash issues.
The increased interest in these stocks.
however. was attended by additional ad
yances in the Atchisons. Baltimore and
Ohio, the grangers and the Southern Rail
way shares. One point in common which
the market showed in comparison with
those lately prevailing was the continued
concentration of interest in the railway
list. The industrial quarter and the local
traction shares were again sluggish, al
though generally firm.
The National Tube shares moved count
er to the tendency of the general mar
ket, being sharply depressed on the an
nouncement of the new competition indi
Gated in the statement made this morn
ing by the president of the Carnegie Steel
Company. Rugar Refining was fairly &C
tive and advanced, with little definite
bearing on the stock. save the somewhat
perfGnctory remarks of the president of
the company, at today's annual meeting
OF the shareholders.
The particular strength shown in Fed
eral Steel was owing to the confirmation
of the report in regard to the steps on foot
looking to such change in the articles
of incorporation of the company as to ad-
nit of the quarterly distribution of profits
upon the common stock Among the spe-
cialties there were rather pronounced ad-
vances scored in Amalgamated Copper.
Consolidated Gas. and Western Union. the
last named stocks showing a degree of
animation such as has not appeared in
many months
To revert to the extraordinary transact
lions in the railway list it can only be
said that except in few instances, little
trustworthy news or credible gossip at
tended the transactions thore 1t is al
most impossible to predict what the gen.
eral status Of the railway situation of this
country will be when the current and i'm
pending great schemes for unifcation OF
control are concluded. 1t can be said with
certainty, however, that the intent of
these schemes is reasonable and benefi-
cent, and they are quite certain TO estab-
lish a new level Of valuation for the Sc
curities concerned. St Paul did not par
ticipate fully in the buoyancy shown in
the general railway list.
Authorities in the foreign exchange stu
alton We're of the opinion that should Eu-
rope continue to sell heavily in this mar
ket, there might be some exports of gold
TO Paris next week, but otherwise regarded
exports of gold as still more or less re-
mote. The local money market was alto
gether unaffected by the prevailing con-
ditions in the stock market. The banks
have all gained heavily from the Sub
Treasury and from the interior since last
Friday.
Singular as 1t would appear also it is
the fairly common testimony OF stock
commission houses that they are borrow
ing very little more money than they
were al the period just after the elections.
Stock market activity continued practical
ly undated