The age-herald., 1902-01-21
NJ DEVELOP
 IN STOCK MARKET Strength of Saturdays State ment Had Little Influence $35O,OO0 FOR EXPORT
Considerable Interest Attaches to the Signs of Speculative Revival Abroad-German Capital Seems
 to Be Directed at Public Loans.

New York, January 20.-Last weeks depressing factors in the stock market were fortified today by the engagement of $350,0O0 in gold for export. This was practically the only new development Tn the stock market which continued in it's rule of dullness and professional. The outside public positively refuses to take any part in the market Prices are gen. orally lower on the day though not as low as they were during the session. The strength of Saturdays bank statement has had little influence today as it had after it's publication on Saturday. Bank CTS are generally disposed to keep their reserves well in hand and to wait for the foreign requirements to define them selves better.
 The continued discussion of the affairs of the trolly syndicate and occasional changes in the plans of the adjustment committee, keep up the disturbing effect of that episode. The special heaviness of Atchson and of the New York Gen. tral today was due to the dissatisfaction felt in the present speculative temper while capital expansion has new bond issues with prior claims over stocks. Re- ports from the West are that railroads are feeling some relief from the of-year shortage but the news had little effect on the market. Equally without infiu- ence was the news of much needed rain and snow in the winter wheat belt. Re- ports of threatened damage to winter wheat from lack of moisture have been offered as cause of some of the recent depression of railroad stocks. Consider able interest attaches to the foreign sit uation just at present owing to the signs of speculative revival abroad.
 It is evident that the long liquidation in Germany has now progressed to a point where accumulated capital is be- coming burdensome again but the ardor of inquiry by German capitalists seems to be directed towards their own pub lie loans and to some extent to the re- vived Kaffir market in London. The London market is obviously discounting with greater faith than in a long time the end of the Boer war, but their in terest in speculation also turns towards South African mining securities and to- wards home railways which begin to show signs of recovery in earnings and promise of dividends. There is even or ganized efforts to induce American capi- tai in combination to embark in kaffrs. These symptoms suggest the inquiry whether the next revival of active spec ulation will not be shifted to foreign markets and foreign securities. owing to the surfeit of American investment demand and the somewhat water logg- ed condition of American securities. Am erican tobacco sold today at 300 and there were advances of IFS to points in the other tobacco stocks, the glucose stocks, Metropolitan Street Railway, American Smelling and Brooklyn Union Gas. But this did not affect the general downward tendency of stocks. Chicago, Burling- ton and Quincy unassessed stock closed today at 22O bid compared with SOP bid on Saturday. Standard oil sold in the out side market as low as 615 but rallied somewhat.
 Consolidated tobacco As made up the bulk of the bond market which was other wise dull and irregular. Total sales par value, $5,010,000.
 United States refunding 2s, the regis tered 3s and the new As registered ad- vanced A, new As coupon E and the old As h. The 5s registered, declined IS and 5s registerd coupon A per cent on the bid price.
 New York Stock Market.
 By Private Wire to Murphy & Ce.