The Washington times., 1902-01-11
MARKET HEAVY
AT THE CLOSE.
Break in Delaware and
Hudson Widely Felt.
SUGAR MOVES UNCERTAINTY.
Manhattan Retains Comparative
StrenEth-London Again a De-
pressing Inhuencc-DenliIgs in
Railway List of Little Significance
Advance in American Tobacco.

NEW YORK, Jan. 10-There was little
Improvement in today's stock market in
respect either of tone or activity and the
trading continued to be governed by the
same uncertainties and misgivings which
have been effective throughout the week
The uneasiness regarding the banking sit
uation at Cleveland was more or less jus
titled today by the open insolvency of one
of the financial institutions at that point.
and the announcement thereof naturally
served TO increase the uneasiness respect
ing the stability of other institutions
overloaded with the paper of the bank
rupt trolley syndicate.
EumOrs of More Trouble
Rumors of further trouble in local COM
mercial circles continued current. and
were not without effect upon the market
while, as heretofore. interest was par
ticularly keen regarding the disposition
the Supreme Court of the United States
would make of the application of the
Minnesota State authorities in their pro-
ceedings against the Northern Securities
Company.
The trading throughout the day was al
most wholly professional in character
London was again depressing influence
in the market, American stocks being
shown at material declines in the early
cables, while with the course of the morn
ing foreign houses disposed of 10000 or
S0,C00 shares of stock in this market
MOncy Continues Firm.
The money market continued firm. with
rates on call averaging per cent Ac-
cording to the preliminary estimates of
the movements of currency this week. the
banks have gained nearly s., ,OOO, 600 in
actual cash. but the consequent pros
poets that the banks would make strong
showing in their weekly statement to-
morrow appeared TO cut little figure in
the speculation.
Activity was most pronounced in Man
haitian Railway and Sugar Refining. while
the movements in these stocks were COM
paTatively vide and irregular. both show
ing good measure of support
Doubt Regarding Sugar.
Some doubt was thrown on aivices
from Washington regarding the reported
agreement between the conflicting sugar
interests on the revision of tariff On
Cuban sugar, and this was responsible
stock. The comparative strength shown
by Manhattan seemed to be again largely
based upon manipulation by specu-
lative pool but stress was again laid
upon the possibility that the Manhattan
company might ultimately benefit through
the changed methods of conducting the
lines now using the Park Avenue tunnel.
st. Paul and Union Pacific were the
active features of the railway list, both
comparatively steady. with good support
appearing in ST. Paul.
Atchi.0n shares Heavy.
The Atchison shares were rather heavy
on reports that the management contem-
plated a large new bond issue for i'm
provemert purposes. The dealings in the
railway list were, however for the most
part of little significance and resulted in
comparatively small changes in prices.
There were few movements of interest
among industrials or miscellaneous stocks.
A further sharp advance was noled in
American Tobacco, but the movement
was not directly accounted for. large
majority of the stock being now lodged
behind the Consolidated Tobacco per
,ent bonds.
Irregular movements were noted In
Amalgamatcd Copper, but there was
nothing novel to be cited In connection
Win tlcE. ne United StdltS steer
issues moved within small limits and
showed somewhat iTnler tone than has
been eyinced since the publication Of the
figures of the quarterly report
Regular Dividends Only.
Only regular dividends were declared
on Delaware and Hudson and Louisville
and Nashville. and while the idea that
the dividend rate son the former would
be advanc has been generally abandon
ed of late, the announcement OF the fig
ure fixed was followed by sharp break
in Delaware and Hudson stock The re-
mainder OF the market was sympathetic
ally affected, and prices sagged away
slowly during the afternoon on light
volume Of business.
further depressing influence In the
later trading was furnished by advices
from Washington setting forth the prob
abilit+ that The Supreme Court would en-
tertaIa the application Of the State OF
Minnesota TO bring suit against the
Northern Securities Company.