The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-02-12
r tMuuCrul.
THE STOCK MARKET.
A Notable Decline In Dealings.

|
very notable decline in the volume Of
dealings In the stock market to-day and
| the most active stocks were those I'M
der pressure, with the exception Of
Union Pacific, which was bought with
persistency on rising scale. The
market was again characterized by the
| wide movement in very large num-
Der OF unimportant stocks, which are
| seldom prominent in the dealings and
which sometimes do not appear in the
record of transactions for weeks at a
time. In this class some of those re-
| Gently brought forward into prominence
continued active at further advances.
Of the most active, Des Moines and
Fort Dodge rose 1-2, Pere Marquette
y ga, Wisconsin Central 1-2, Wiscon-
I sin Central preferred Ia, Mexican
National 78 and Mobile and Ohio / SIS.
Chicago and Eastern Illinois was con-
spicuous for violent rise of 6 IA, the
preferred stock rising 4. Evansville
and Terre Haute rallied 2 IA after
decline of point The movement in
the general list was extremely confused
ALI day and the greater part of the
business in the standard railroad
stocks was down below Saturdays
level. London sent lower prices for the
internationals to start with and there
was some very heavy selling of Atchi-
son and at one time. also of Union
Pacific. A strong rally in the latter
stock and an advance in Atchison to
81 brought the market generally to the
best Of the day. Union Pacific was
lifted points over Saturday and the
preferred 49, Pennsylvania was the
only other active trading stock amongst
the standard railroads that rose ar,
much as a point over Saturday. And in
fact no railroad stock Of Importance
fell as much as point below Saturday
at any time, thus indicating the gen
eral sluggishness Of the market. The
specialties did better, Sugar rising at
one time 2 points and Peoples Gas
2 SIS, the latter on the good financial
showing made In the annual report.
Pacific Mail rose 1-2 and International
Paper 2 ga. Western Union was ad-
vanced SIS on dealings attributed to
a pool, The steel stocks shared in the
general sluggishness and only the pre-
ferred stocks of any Of the companies
sold as much as point above Satur-
day. There were as rule, however.
firmly held The speculative enthusi-
assn over the advantages of the pro-
posed steel deal has become somewhat
tempered with the conviction that the
trade would be much worse off falling
the deal than 1t has been. A rather
disagreeable impression to spectators
on the steel deal was created by to-
days slump in the smelling stocks, Of
fering an example of the possibility of
obstacles to great consolidation plans,
even when far advanced toward com
pletion, and of the demoralized effect
on prices of hitch in the plan. Smelt-
ing common fell ga points under very
heavy offerings and the preferred four.
The rallies were fitful and ceverish, the
common stock closing with a net loss
of IA The money market condition
disclosed by Saturdays bank statement
had depressing influence, which was
aggravated by the -treasury's large
subtraction from the market on ac-
count of Saturdays Central Pacific
hardening of the London market again
trned exchange at all the great CEN
tiers, including New York, in favor Of
London. The failure Of the Imperial
Bank of Germany to reduce the dis
count rate was obviously due to the
fear that London would draw gold and
the Berelin advices to the Associated
Press reporting that London exchange
there is in demand on American ac
count indicates that gold may go from
New York again on the triangular OPP |
GRAFTON.
The bond market continued active, |
but there were SOME important reac.
tions on profit-taking. Total sales pal |
value s5,750,0O0.
The United States threes and new |
fours advanced Ia per cent. on the |
last call.
NEW YORK STOCK MARKET