The Washington times., 1902-03-04
Renewed Buying of St.
Paul Leads to Gains in
Many Quarters.
INTEREST IN THE RAILWAY LIST
Revival of Activity Leads to
Neglect of Specialties.
TRACTION SHARES ARE DULL
Extensive Movements Among the Indus
trials-Sugar and Steel Enjoy IN Ad-
vance-Coming Dividend. Declarations
Affect Activity.

Affect Activity.
NEW YORK March 5-There was moth
ing whatever in the financial situation at
large this morning which would lead 10
the idea that improving conditions could
be looked for in the days stock market,
but Notwithstanding the somewhat mega
tive situation under which business open
ed the trading had a strong tone from
the outset, and some subs antial ad-
vances were scored with the course of the
business session.
Two Things Disclosed.
Two purely technical circumstances were
indeed disclosed in the early dealing, the
first being the very light offerings of
stocks in ary quarter of the market. The
second WIS an Unexpectedly large and sus-
tained demand for the standard grade of
securities. which, while it bore no evil
dences of being for other than profes-
sional account, was none the less effective
in the dealings.
This buying first appeared in St. Paul
and Union Pacific. and the resultant ad-
vances in those stocks gradually extend
ed TO the market at large. Telegraphic
communication was again seriously in
terruptcd, an6 there was, of course. a con-
siderable curtailment in activity on that
account.
The business Of commission houses was
again in very limited volume, outside in
terest being apparently held in check for
the same reasons which were effective
throughout the past week. The business
in this market for foreign account was
also conducted on a very small scale,
amounting TO less than 10000 shares,
nearly all on the selling side.
Little Real News.
Apart from the days returns of rail-
way traffic for various periods. there was
no real news bearing upon particular
stocks. One of the most noteworthy state
ments of earnings made today was that
of the Union Pacific Company for the
month OF January, which showed an in
crease in net earnings of only little
less than so per cent.
Some of the days more extensive ad-
vaaces in the railway list were in Canada
Southern and Lake Erie and Western,
which advanced on very light dealings;
the Chicago and Northwestern stocks and
Rock Island.
The revival of interest in the standard
railway shares seemed to detract some
what from the interest recently displayed
among the specialties, firm features
among which, however, were Colorado
c.
and Chicago and Great Western.
Traction Shares Quiet.
Little was done among the local trans
portation stocks, though all were firm in
the early dealings, notably Brooklyn
Rapid Transit. Manhattan and Metropoli
tan Street Railway were firm on a light
volume of dealings
So far as can be ascertained, the street
does not take the slightest interest in
the movement antagonistic to the manage
ment of the Metropolitan Company insti-
tuted last week, and few people appear to
expect that the opposition to the man
agement's financial plans will still be In
existence by the time the special meeting
of the shareholders is held.
Movements in Industrials.
There were some extensive movements
in the Industrial quarter and among the
miscellaneous stocks. Sugar Refining was
firm and the United States Steel stocks
advanced on encouraging and authorita-
tive estimates of the current earnings
of the property.
Material advances were recorded also
in Tennessee Coal and Iron, the Sloss
Sheffield stocks and American Cotton Oil
In addition to the gratifying showings
most OF the great systems are making for
the month OF January, sentiment was
strengthened to some extent by the near
approach OF number of important divi-
dend declarations.
Dividends in View
Within the next two weeks, the divi-
dends on Sugar Refining. st. Paul, South
ern Railway preferred and Manhattan and
Western Union are to be declared, to-
gether with the dividends on the Wander
bllt stocks. Interest was again fairly
keen in the question of the dividend on
Amalgamated Copper. but inasmuch as
virtually the entire board of directors of
the company are now absent from the
city, the matter is necessarily hung up in
the meantime.
AS regards the coming dividend declara-
tions, il may be said that the only cases
in which any doubt prevails as 10 the
rate to be fixed are those on Amalgamated
Copper and Southern Railway preferred
The dividend on the latter will be official
ly decided upon at the directors meeting
on the 18th of this month.
Sterling Exchange Easier.
Money market conditions were not es-
sentially changed today, and sterling ex
change was somewhat easier, but not
withstanding the reaction in the latter
market, It was still believed that there
would be further shipments of gold 10
Europe with the course Of the present
week With the course II the day in the
stock market sharp advances were noted
In General Electric and Westinghouse
Electric, while the market at large re-
tanned the general characteristics OF the