The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-02-07
THE MARKETS
Wall Street Review.

New York, Feb. 6.-The stock market showed
considerable excess of animation today and the
dealings were much better distributed than for
some time past There stocks which hung
back and some which fell away profttaking
after recent considerable advances, but the gen.
cral tone of the market was strong and specu-
There was a feeling that the improved condi-
tions were due to some development not gener.
ally known, and the professional traders who in
fact did not know what they were were among
the largest buyers on the suppositon that Others
who did know were in the market with them.
These sulmises had to do to u large extent with
possible developments in the suit against the
Northern Securities company. Confident expires.
sions were heard, but on anonymous authority,
that the decision of the Supreme court was made
up against the admission of the suit to argument.
The suppositon also found expression that the
projectors of the great merger have an alter
native plan to fall back on in case OF the de-
clared illcgality Of the present company. It
was argued that a foreign corporation might hold
the securities OF United States corporations and
be outside the jurisdiction of the United States
laws. The reported formation of IL leasing com.
pany TO control Metropolitan Street railway on
guarantee OF the dividend was not OF much bene.
fit to that stock, but the evidence thus given Of
continued planning on the part of capital towards
development was an influence on speculation. A
social gathering of millionaires in Philadelphia
represented to be present on afable terms. The
Importance attached to such unsubstantal con.
lectures indicated the continued predomnancc
of professional operations in the market The
discount rate of the Bank OF England prom
sing relaxation of the pressure on New York
for gold. The very strong return of the Bank
of France pointed in the same direction. OF the
days movements in detail Southern Pacific WAS
largely in the hands OF the same speculative in-
tercst which has been dealing in it recently, and
the movement in Pennsylvania was also attribut
ed to this operator. The Vanderbilts as group
were all strong and Toledo, st. Louis IL Western
stocks moved in sympathy with the group on
rumoled absorption in the Vanderbilt interest.
rrDi in tl,Sn GtN had f,i,,f.
Lake Erie and Western preferred showing the
latter figure. United States Express made a fur
tlcr advance OF "a. The rise OF ~ in Third
Avenue was due TO comparison with IFS price
with that of Metropolitan with an ultimate guar
antee of per cent. Illinois Central was also
strong on the general consideration OF its price
level as compared with other equal dividend
payers. There was number lower priced
and less prominent stocks whose special strength
was attributed to increasing dividend prospects,
Protit.taking made the closing somewhat irreg.
uar, but the inroads upon prices were not eStPu-
sive. Total sales today, $4,000 shares. The bond
market was active and broad and showed general
advances. Total sales, par value, S4, ,O55, ,O0)
United States 3s declined 4 per cent. the last
call.