The daily morning journal and courier., 1902-02-01
EtmaMctal.
1HE STOCK MARKE7.
Reflection of Encouragement Yester-
 day.


 1 day.
 New York, Jan. 31.-The stock market to-day reflected the discouragement of operators over the persistent determin- ation of the outside public and large money interests to refrain from specu- lation in stocks The failure of success sive news developments to induce any interest in the speculation causes in- creasng neglect even on the part of l professional operators. There were l some notable individual movements to- day, but the market as whole was trivial and inconsequential The most conspicuous movement of the day was i in Delaware, Lackawanna and Western, which rose by rapid stages, making 8 new high record at each stage, to 2S1h. It was expected that the annual report forecast of earnings is of a rate of 16 to 20 per cent. The report was withheld from publication, but the directors were in session. Rock Island made notable advance of 5ia points on light dealings the market supply of this stock being scarce. The increase of Moore repre- sentatives in the directorate and the extension of common interests in the company and in some of the most in- fluential New York banks and trust companies were sighted as motives for the advance The prices of the stock crossed that of St. Paul, but fell back. American Lnseed after early weakness rose BE over last night and the prefer red on account of the rise in the price of linseed oil Southern Pacific led the market in point of activity, but it's mar row price movement indicated active profit taking, which carried it below last nights level.
 The speculation continued very active in Amalgamated Copper, which rose 1%, lost it all and then rose 2B again at the close. The arrival in this country of a director of the Rio Tinto company, sup posed to be for the purpose of forming working agreement with the Amalga-
 
 in the price of copper, were the motives of the speculation Sugar continued depressed because of fears that the du- ties on Cuban sugars would be main tained and Peoples Gas also suffered | a sharp break without explanation. | There was an active demand late in the ! day for Reading, but with only slight effect on the price. Colorado and South ern stocks were bought on talk of an increase in the dividend on the first preferred. Mexican National was strong by reason of reports of absorption by Southern Pacific. The recent strength of Evansville and Terre Haute contin- ued and the Iowa Central stocks and the Minneapolis and St. Louis stocks were strong. Lake Erie and Western preferred rose points.
 To-morroW's bank statement is ex- pected to be strong, as cash has moved freely from the interior and the banks have shown themselves anxious to place loans It is believed that the deposits of the local trust companies with the banks have been increased during the week These deposits represent accu- mutations of investment capital in the shape of interest and dividend profits which are withheld from reinvestment. This is interpreted as a symptom if dis of capital with the present price level of securities.
 Bonds were less active to-day and were irregular. Total sales, par value, s4, ,050, 000
 United States refunding twos declined 1s and the threes coupon A on the last call.