The age-herald., 1902-01-23
STaG MARKET OAgpWARD COURSE.
 - Dealings in Few sioeks Reflect ed Sentimepi Of Indifference NARROW PRICE MOVE MENT Money Was Easier, and ths Large subSs serption Reported In Nsw Torls1 1I for the German Imperisi Loar Argued Abundant Resources.
NARROW PRICE MOVE NENT

New York, January 22.-The profession al operators in the market made an up- ward turn of prices again today. The dullness of the market and the congestion of the scanty dealings Into few stocks nearly reflected the sentiment of indimer- ence of the outside public to the securi- ties market and the abstention of the great banking interests which made the great bull markets of last year hold the upper hand in the trading. Such narrow price movement as exists was pretty Much wiped out in the closing deals and many stocks closed sbelow last night. Metropolitan Street Railway was the cen tral feature and moved up late in the day an extreme SS on volume of deal ings very unusual for that stock. The gain of the day was 2A. Many rumors circulated to explain the movement which in general agreement as to a coming issue of stock with subscription rights to stockholders, but which varied greatly as to the use to be made of the proceeds of the stock sale. There was talk of con solidation of all New York public utili- ties and of standardization of the pro- duction of electric power for the benefit of all of them. The stock of other New York public utilities did not fully sym pathize and reacted sharply at the last. Advances of points each in the Chicago and Northwestern stocks and 3A in Lack awanna were accompanied by rumors of coming distribution of scrip.
 Sugar and Peoples Gas gained nearly a point at one time. This about exhaust ed the list of advances worthy of men, tion. The rain and snow in the winter wheat belt and the promised benefit to the crop were used by the traders as arguments for advancing railroad stocks Money was easier and the large subscrip- tion reported in New York for the Ger man imperial loan argued an abundance of local resources, although the disposi- tion to turn to foreign securities, while the local stock market was so neglected was taken to indicate a tendency not all together favorable. The lively specula- ton in Kaffirs in the London market while stocks continued to be sold in New York for London account showed the same tendency for speculation to be di- verted to foreign markets. The character of good part of the days dealings were shown by the expressed expectation that the Supreme Court would clear up the Northern securities question by decis- Ion next Monday which is merely the day to hear arguments whether the proposed suit shall be entertained.
 There was recently some speculation In Erie shares based on the assumption that the dividend on the first preferred was to be advanced to per cent, but the conviction has been general for some weeks that the 8 per cent rate would not be changed as proved to be the case to- day. with little effect on the stock. The market closed dull and irregular.
 The railroad bond market broadened out today, bringing forward many dormant mortgages into activity. The dealings in some of these, notably in the Rock Island As and the Central of Georgia income bonds, and consol 5s were very heavy. There were advances ranging from l to 2A in the Rock Island 6s and As, the Oregon Short Line 6s, St. Louis and San Francisco 6s, New Jersey Central 5s, Gen. tral of Georgia 1st, 2d and Sd incomes, the Chicago and Pacific division 6s and the St. Paul and Texas Pacific 1sts To- tai sales, par value, $4 5000. United States bonds were unchanged on the last call
 New York Stock Market.
 By Private Wire to Murphy & Co.