Marietta daily leader. (Marietta, Ohio) 1895-1906, 1901-02-02
FOREIGN HOUSES
Bought Early But Subsequently UnlOadsd
100, 600 Shares Southern Pacific.
By Associated Press

nounced in a number of cases, and pro-
fessional operators were successful in
reviving the bullish interest, practi-
cally as they saw fit They resorted to
palpable manipulation at times in or
der to acquire a following. After
successfully bidding up the leading
group they realized their holding and
began anew in another quarter. As a
result the market displayed pronounc-
ed strength in every division. Re-
ports of combinations on various prop
critics continued to be heard. thereby
increasing the interest in minor rail-
roads which assumed considerable
prominence in the days dealings.
Later in the day the report was cur
rent that the Union Pacific had secur-
ed control of the Southern Pacific rail-
road. No official confirmation was
to be had, but the fact that the market
for Union Pacific boiled for a time
with stock rising Az points on tran
sactions of 225 600 shares was suffic-
lent in itself according to views of
traders, as being authoritative. 1t
was admitted that the leading interest
in the Southern Pacific was sold out to
a syndicate, presumably representing
the Union Pacific.
This announcement. coming on top
rf ri cd q phniIt i,,nn l. n
dividends, extraordinary 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 little hesitation.
Foreign houses bought early, but
subsequently unlOaded about 100000
shares of Southern Pacific.
That stock was strengthened some
what after the London selling ceased.
and was practically about the only is
sue which did not have a bull follow
ing.
During the general selling, toward
the close, it sagged to 46A COMPARED
with 49A, the opening figure.
Conspicuous features at times were
Kansas and Texas preferred, Tennes-
see Coal, Atchison and Louisville. the
latter being strengthened by it's excel
lent December earnings.
Profit taking became quite general
in late dealings and a material inroad
was made on the highest prices of the
day in some stocks. On the other hand
there were points of renewed strength
and the market closed very animated
and IRREGULAR.
was 1,545,1OO Important advances
were made in many prominent bonds
today. U. S. IS, coupon, declined u
per cent.
DUN'S REVIEW.
BY Associated Press.
New York. Feb. 1.-R. G. Dun &
Co. IS review says: The week, in gen.
eral business, was without striking
new features. but in this respect the
outcome was favorable.
Not one great industry finds any
scarcity of orders for goods, and bust
ness is done at prices which show a
slight tendency to rise, except in tex
tiles.
Indications are that the dry goods
trade is preparing for a season of ac
tivity.
There is nothing discouraging in the
slight decline in commodity prices
from Jan. to Feb. l, and railroad
earnings continue large, increasing
Ill oer cent for the three weeks of
January, over last year, and 1852 per
cent over 1899.
New York bank clearings for tha
week gained 4S.3 percent over 19OO,and
outside of New York the gain is 10.S
per cent.
The loss of a per cent outside of New
York for the week compared with 1899
was but due to the TACT that the FeDru
airy settlements were increased in that
year.
While steel mills have contracts on
hand for their output for from three
to six months ahead, the market nat
urally rules firm. Their expectation
is of a higher figure soon for Bessemer
pig iron while rumors are numerous as
to the rise in billets, plates and struc
tural materials. All those lines show
a brisk demand.
Boot and shoe shops receive more
orders. Although quotations are
nominally unchanged, many makers
refuse new contracts without a small
advance. The upward tendency is so
general that purchasers are eager to do
business at the current level. Leather
sells freely, probably at slight conces-
sions.
There was a slight increase in the
sale of wool at the three chief eastern
markets this week. Conditions are