The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-01-07
RAILROADS LEAD
STOCK MARKET
Declaration of Dividend by NJ.
Central Caused Activity.
Squirt IN MINNEAPOLIS
United States Steel Stocks Were Again
Dealt In on an Enormous Scale,
the Preferred Leading In
Life and Strength.
Squirt IN MINNEAPOLIS

New York, January 6.-The stock mar
ket was awakened into some show of
strength and animation today after eff
forts to that end had proved futile for
the greater part of the session. The incl
dent which aroused the market was the
declaration of a dividend of per cent
on New Jersey Central stock. The declar-
alton is tim ed at the usual period for the
quarterly dividend, which has been run
ming at the rate of IA per cent, but tho
president of the Reading company, which
corporation now controls the New Jersey
Central, deprecated a designation of this
as a quarterly dividend. Nevertheless the
street was inclined to the conviction that
the stock was to be considered as an
eight per cent basis.
Reading was stimulated into great &C.
tivity and rallied from an early decline
of over a point to IA over Saturdays
level Delaware and hudson became quite
buoyant,S rising 61h points over Saturday
on confident hopes that it also was book
ed for an early increased dividend.
There was a sudden squirt of 81 points
In Minneapolis ST. Paul and Sault St.
Marie and of AZ in Minneapolis and ST
Louis The market generally recovered
smartly from it's early depression but
very few stocks showed any material
gains over Saturday. Amalgamated cop
per was an exception and after early
weakness on the further decline in the
price of raw copper in London rose 1ss
over Saturday.
The United States steel stocks were
again dealt in on an enormous scale the
preferred leading both in point of ac-
tivity and strength. Rumors were rife
of the very favorable showing to be
made by the quarterly statement of net
earnings which is expected to be present
ed at tomorrow's meeting. There was no
suggestion of the probability of an in
crease in the dividend rate. There were
fncipient upward movements in a few
other industrials while the railroad list
tended lower from the opening
The general list was singularly unre-
sponsive to the demand in United States
steel. The immediate cause of its slug
gishness and heaviness was the inception
of gold exports, 1t being reported today
that 100000 had been sent out on Satur-
days steamer by the institution which
also withdrew 100000 from the sub-tr
ury today. 1t is now accepted that if
more gold does not go out this week, it
will be because there happens to be no
p"Ae oeoaiiSi dilOTulilB a saving
of interest on the gold in transit but
that considerable sum of gold will go
out In the immediate future is consider
ed certain. The financial trouble in the
rubber trade. following upon the develop
ments concerning the trolly promoting
syndicate, caused some revival in spec
ulation
The market strengthened and closed
hrm in the last hours.
The bond market yielded in the m orn-
Ing but responded partly to the recov-
cry In stocks and closed irregular. Total
sales par value $37S0,OOO The United
States coupon 5s advanced Il per cent
On the last call.
New York Stock Market.
BY Private Wire TO Murphy & Cn