Evening star., 1902-01-06
FINANCE AND TRADE
The Industrials We're the Features
in Stocks Today.
STRONG DEMAND FOR STEEL SHARES
The Rail,oad List, However, Was
Under Considerable Pressure.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, January G.-Toaav,, stock
market opened under q pressure of stock
from traders due to the dIsappointment I'm
the matter OF Saturdays bank statement
and fumors OF gold shipments. The latter
argument failed sienally. inasmuch a. there
Is no steamer sailing before Saturday which
Is at all likely to receive a consignment of
soid. Prices declined rather easily. how
ever and later in the day a prominent
oank withdrew 100000 In gold from the
subtreasury
The money market was comparatively
easy, loans being made at per cent early
In the day and later dropping to Az under
increased offerings. This condition found
prompt reflection in the industrial Depart
ment. under the leadership OF the Steel
stocks. Prices were bio up sharply and the
volume of business was large and attrib-
uted to strong interests.
London and Berlin bought the United
states Steel issues and local houses close
~ associated with the management had
some unusually large buying orders The
meeting TO act upon dividends for the two
STOCKS or this corporation is set for to-
morrow. AS Indicated by semi-offlclal
statements the showing to be made will he
most gratifying. The preferred stock has
an investment following probably second
TO no industrial on the list no matter hauv
well-known IL may be-
Other issues. such as American Locomo-
i've ana the car building companies re-
nected q good demand from INSIDE sc,,,,a.
Chicago houses were inclined 20 san tSa
marked upon considerable scale and
mere We're some rumors Of financial DIM
culties In the west.
Union Pacific Southern pacfs, o..s NJ.
souri, Pacific all showed signs OF uonIda-
@ .ioh oy the pools in them under cover of
the strength shown elsewhere
s Later IN the day prices rallied somewhat
rom mixed buying demand. The coal
STOCKS moved about in uncertain fashior
Ior time, but later stiffened up under a
Sndrp Sp railying movement in Delaware and
1uuSoh ana Jersey Central. The advances
IN the stocks named were attrib1,te5 70
improving dividend prospects. and II seems
10 De accepted that Delaware and Hudson
mn is. oisoafse an equivalent of s per cent
Reading and Erie reflected proflt-taking
port h soou sup
Erie's dividend on the first preterre5 IL
an uncertain factor, which is operating
against all the issues
Renewed activity in Colorado Southern
was feature Of the day the advance be-
ing accompanied by rumors of a nrobabIa
leasing TO Missouri Pacific in connection
with that company's recent acquisition az
DehVer and Rio Grande. Good earnings
also helped the advance
Hoioers or Pacific Mail were encouraged
oy the announcement that the government
would discontinue its transport service in
tne racine. This prospect and the capital
.o pe MADE out of the varying fortunes OF
the shipping bill may make Pacific Maj an
active feature Of the market.
me last hour was irregular in its resuIts
oue rev STOCKS were exceptionally firm
during that period. The speciaIties were
given good support and many of them re-
sponoed easily to the demand While an
uncertain market is likely for several ,iav,
there is strong belief in discriminating
buying on the declines