The age-herald., 1902-02-01
STOCK MARKET
 IS DISCOURAGED PersiStentDe Determination of Out siderS to Stay Out is Effective BUSINESS SHOWS NEGLECT Speculation Continues Active In Anal gamated Copper, Which Advanced,
 Fell Back and Then Advanced
 Again-RaiIroads Have Life.
BUSINESS SHOWS NEGLECT

New York, January 31.-The market to- day reflected the Encouragement Of op- orators over the persistent determination of the outside public and large money in- terests to refrain from speculation In stocks. The failure of successive news developments to induce any interest Tn the speculation causes neglect even on the part of professional operators. There was some notable individual movements to- day, but the market as a whole was trivial and inconsequential. The most conspicuous movement was in Delaware, Lackawanna and Western, which rose by rapid stages, making a new high record at each stage, to 2S115 It was expected that the annual report would be issued today, and the street forecast Of earn ings is of rate of 16 to 20 per cent. The report was withheld from publication, but the directors were in session. Rock Island made a notable advance of 51s points on light dealings, the market sup ply of this stock being scarce
 The increase of Moore representatives in the directorate and the extension of common interests in the capital and some of the most influential New York banks and trusts companies were cited as mo- tives for the advance. The prices of the stock crossed that of St. Paul, but fell back. American linseed, after early weak ness, rose 31s over last night, and the preferred on account of the advance in the price of linseed oil Southern Pa cifc led the market in point of activity, but it's narrow price movement indicated active profit taking, which carried it be- low last nights level. The speculation continued very, active in Amagamated Copper, which rose 1ss, lost it all and then rose 21s again at the close.
 The arrival in this country of a direc- tor of the Rio Tinto Company, supposed to be for the purpose of forming a work ing agreement with the Amalgamated Company, and the continued rise in the price of copper, were the motives of. the speculation. Sugar continued depressed because of fears that the duties on Gu ban sugars would be maintained and Peoples Gas suffered sharp break with out explanation. There was an active demand late in the day for Reading, but with only slight offset on the price. Col orado and Southern stocks were bought on talk of an increase in the dividend on the first preferred. Mexican National was strong by reason of reports of ab sorption by Southern Pacific. The re- cent strength of Evansville and Terre Haute continued and the Iowa Central stocks and the Minneapolis and St. Louis stocks was strong. Lake Erie and Vest ern preferred rose points.
 Tomorrow's bank statement is expect ed to be strong as cash has moved freely from the interior and the banks have shown themselves anxious to place loans. It is believed that the deposits of the local trust companies with the banks have been increased during the week. The deposits represented accumulations of investment capital in the shape of in- terest and dividend profits which are withheld from reinvestment. This is in- terpreted as symptom of the dissatis- faction of capital with the present price level of securities.
 Bonds were more active today and were irregular. Total sales, par value, $405O,0 GOO. United States refundng 2s de- clined 1s and the 3s coupon 4 per cent on the last call.
 New York Stock Market.
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