West Virginia daily oil review. [volume] (Sistersville, W. Va.) 1894-1902, 1902-01-28
AWAITING lO2A CT EVENTS.
Professionals So Found the Money
Powers When They Tried to
~ Find the Market.

New York, Jan. 28.-There was no
relief from the semi-stagnant condi-
tiOnS of speculation in stocks Mon
day. Professional operators conein-
ued their attempts to find the marked
by persistently testing 1t, both by
sales and purchases, but they 'found
the great powers in the finanC-a-
world absolutely quiescent and z
ing some turn OF events. Tho q
ness of money rates, which pei
for some time after the turn OF .lt
year, has yielded entirely and tst
ordinary borrower is able to obtain
money on call on very easy terms.
eturns Of gross earnings OF railroads.
which began to come in Monday for
the third week in January, show graf
flying increases over last years high
level. Mondays break in the grain
markets, While due to condition OF
over speculation, and attributed os-
tensibly to the large movement from
other countries, warrants presump-
ton of promising conditions for our
own winter wheat crop, upon which
much hinges. These considerations,
however, were powerless to animate
the stock market There is a very
decision Of the question Of the legal
standing CT the Northern Securities
company is the thing really awaited
for the next general movement in
the stock market. There is also i'm
portance attached to the definite
shaping Of the governments financial
operations, which is given additional
Importance by the growth of the sur
plus in the revenues, the decrease in
the available supply of bonds for re-
demption and the pressure to retire
bank note circulation. Legislation
for the reduction of the revenues on
the one side or for special government
expenditures on the other are studied
with great attention, owing to their
bearing on the market supply of
money. The formulating Of demands
by coal miners has been cause of
some depression. The stiffening of
the discount rate in London and the
advance in the price Of gold may be
a symptom Of renewed uema1I for
gold from that quarter as the bank
of England is obviously striving to
make its rate effective in the market,
in preparation for the coming govern
ment loan. OF the special movements
in Mondays market which gave it its
whole character, that in Amalgamat-
ed Copper was most const icuouS.
Raw copper was advanced for the
first time since the attempt to main
tain the price was abandoned by the
Amalgamated Copper company. The
Gain which resulted Monday for
Amalgamated Copper was 21a points.
The advance in the price of lead gave
strength to the national lead stocks
and American Smelling. The United
States Steel stocks were lethargic.
There was a desultory speculation in
Sugar, with final net gain Of a point.
Notable gains in Chicago and Eastern
Illinois, the New York, Chicago and
st. Louis stocks, Cleveland, Cincin-
natl, Chicago and st. Louis and Rut-
land preferred were without explana-
ton. The market closed dull and
firm.
There wc3 a cc~sction Ct last
weeks activity in a number OF semi
speculative bonds and the market was
duller and irregular. Total sales, par
value, $3,025,000.
U. S. new As advanced Il per cent
on the last call.