The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-02-06
THE MARKETS
Wall Street Review.

New York, Feb 5.--Todays stock market wa3
dull affair again, in spite OF spasnodic efforts
by professional traders and speculative pools to
awaken Il general movement in the market. BY
the time they succeeded in moving prices at one
point, depression would develop in another, and
in consequence the dull movement was Irregular
all day. Striking movement in closely held high
priced investment stocks continued figure. The
significance Of these movements was not disclosed.
although traders sought to make the most o.
them for their sympathetic effect on the general
list. These apparently sensational movements on
q very small volume OF trading arc a natural
consequence where the stocl; OF company Is
closely held for the purposes of control and
centralized in the hands of few conservative
and powerful capitalists for investment, who are
quite uniniluenccd by the course of prices in th.
open markets. Among the stocks moving To-.
day were the Chicago and Northwesterns Amcri-
can Express, United States Express ard Lacka.
wanna. Nashville, Chattanooga, and st. Louis,
which advanced 10h yesterday, reacted 3ia ~.
day, but close with net loss of only .. The
recent sensational upward movement in Lacka-
wanna is associated with the rumors Of control
OF that road in the interest of an outlet for
the Wabash system. The Wabash stocks were
very firm today in the same connection Another
center of speculation was in the local traction
stocks, under the influence of published reports
from Philadelphia OF the formation OF a secur-
ties company to hold Metropolitan Street Rail-
way stock and possibly other local traction COM
paries. Manhattan was the most active OF this
group and Metropolitan Street Railway, after an
upward squirt OF IA, declined profit taking,
falling ia below last night during the day and
pulling the other local fractions down with IT,
The speculation in Analgamated Copper was very
feverish, the price running off l2s during the
morning on the further break in the London
copper market and the slump in Rio Tintos. The
stGadying of the London copper market and re-
ports OF n panic amongst the bears in Rio Tin
tos, rallied Amalgamatcd Copper to rs over last
night and it an effective factor in the late
rally in the New York stock market. The specu
lative pool operating in Southern Pacific stock
took that stock vigorously in hand ana pushed it
up III on vely large buying. The general mar
kct rallied with some vigor in sympathy, st.
Paul rising points over last night and num-
Der of other trans-continentas about n point.
United States Steel also developed some strength
just Mt the close Other features OF strength were
the Toledo, St. Louis and Western stocks and the
junior Vanderbits, on rumors OF absorption Of
St. Paul and Sault Ste Marie preferred advanced
Az more points. The recent buying OF sugar
continued, but its net gain was only fraction.
There was no general influence effective in the
market at any time beyond disposition to dull.
ness, caused by the export movement OF gold
and the unsettled question OF the Northern Sc.
curities company case. Total sales today, 5SS,-
100 shares.
The bond market was only moderately active,
but was inclined to be firm. Total sales par
value, Si,74O,OO0. United States refunding rs
advanced Is per cent. on the last calf