The age-herald., 1902-02-08
STOCK MARKET
 HAS HEALTHY TONE Operators Did Not Hesitate to
 Bid Up New Stocks IRREGULAR BUT STRONG Amalsamated Copper Was About the Only Stock In the List Which
 Showed Positive Depression,
 But Lackawanna slumped.
IRREGULAR BUT STRONG

New York. February 7.-The movement of prices in todays stock market became highly irregular, but the tone was health Ter and the breadth and activity in the market were maintained at yesterday s level. The professional operators, who largely absorbed the market. operated with considerable confidence and did not hesitate to buy and bid up stocks in new quarters at the same time as they were taking profits on their recent purchases in others. Some of the closely held in- vestment stocks which have had sensa- tional advances recently because there were no shares for sale even at much higher bids, relapsed violently today on attempts to take profits, illustrating the narrowness of the market for this class of stocks.
 Small offerings are as effectual in fore ing declines as are small purchases in causing advances, the insiders in these stocks being quite indifferent to their course in the speculative market. Lack awanna slumped points on top of yes terday's loss of nearly points and North west dropped 4s4 without recovery Lack Rwannat however, rallied points. The same tendency was shown to a less degree in @ number of other railroad stocks which have been unreasonaby bid up of late.
 There was a very notably pressure to realize profits also in Southern Pacific, in which the dealings continued on a very large scale. Amalgamated Copper was about the only stock in the list that showed positive depression. It's loss at one time extended to 21s but this was re- duced by a rally to 1B. The selling of the stock was ostensibly due to a reaction in the price of copper and to allegations that the company had oversold it's product at the recent low level in the copper mar ket The principal factor of strength in the market was Illinois Central, which advanced an extreme 31b a volume of dealings very unusual in that rather closely held security.
 The advance had no other explanation than the relatively low price of the stock compared with other stocks similarly situated and paying only as great or even smaller dividends. The advance in the stock brought out various old rumors of absorption of minor systems, and the stock of many railroads which could by any possibility be available for merging with Illinois Central were advanced sharply. The favorable showing of the great corn-carrying railroads for Decem- Der, as in the case of Burlington and Rock Island. also helped to strengthen This class. There was an energetic buy Ing movement late in the day in Atchi- son. which seemed to be based on the iact that the movement in the stock this week had not been commensurate with that in others.
 This description applies to various oth- Pr movements of the day. There was an Railway which carried it 23s over last night, and a similar movement of more than points in sugar, but neither of these was maintained. Brooklyn Transit rose more than a point late in the day. Manhattan was raidcd down points on the news of an unfavorable court deci- sion against the company, and this made the closing of the market unsettled. Lit lie attention was paid to the estimates of the bank statement as the tone of the money market continued easy. It ap- pears, however, that the net receipts in the interior movement are more than a million dollars less than last week. so that the loss on the gold exports remains uncanceled by margin of over a million dollars. It is also generally expected that the loans will be largely increased.
 The bond market was quite active but irregular. Total sales, par value. $3.- eSO,OOO.
 United States As advanced h per cent pn the last call.
 New York Stock Market.