The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1902-01-07
Ftnaucta1
THE STOCK MARK Ell.



Awakened Into some show of strength
New York, Jan. 6.-The stock market
was awakened into some show of
strength and animation to-day after eff
forts to that end had proved futile for
the greater part of the session. The
incident which aroused the market was
the declaration of dividend. of per
i cent. on New Jersey Central stock. The
! declaration is timed at the usual period
for the quarterly dividend which had
been running at the rate of / IA per
| cent, but the president of the Reading,
which road now controls the New Jer-
sey Central deprecated a designation
of this as quarterly dividend. Never
theless, the street was inclined to the
conviction that the stock was to be
considered on an per cent. basis
/ Reading was stimulated into great ac-
tivity and rallied from an early de-
cline of more than point to / IA over
sat ufudy ) level DeldWaTe ana HUI
son became quite buoyant, rising to
6 IL points over Saturday on conf
dent hopes that it was also booked for
an early increase in dividend. There
was a sudden squirt of "a points in
Minneapolis, ST. Paul and Sault Ste
Marie and of Ia in Minneapolis and
st. Louis. The market generally re-
covered smartly from its early depres-
sion, but very few stocks showed any
material gains over Saturday. Anal
gamated Copper was the exception and
after early weakness on the further de-
cline in the price of raw copper in Lon
don rose / 3-8 over Saturday. The
United States Steel stocks were again
dealt in on an enormous scale the pre-
ferred leading both in point of activity
and strength. Rumors were rife of the
very favorable showing to be made by
the quarterly statement of net earn
ings which is expected to be presented
at to-morrow's dividend meeting.
There was no suggestion of the proba-
bility of any increase in the dividend
arte. There were incipient upward
movements in a few other inudstrials,
while the railroad list tended lower
from the opening. The general list was
singularly unresponsive to the demon
stration in United States Steel. The
immediate cause of it's sluggishness and
heaviness was the inception of gold
exports, 1t being reported during the
day that 100000 had been sent out on
Saturdays steamer by the institution
which also withdrew $500, 900 from the
sub treasury to-day. 1t is now accept
ed that if more gold does not go out
this week it will be because there hap
pens to be no swift steamer sailing, af-
fording a saving of interest on the gold
in transit. But that a considerable sum
of gold will go out in the immediate
future is considered certain. The finan- |
cial trouble in Rubber trade, following
upon the developments concerning the |
trolley promoting syndicate caused |
some reserve in speculation The fact |
that none Of the securities of the cor |
porations recently in trouble are dealt |
in on the stock exchange has prevented |
connection in the stock |
market, it is believed in consequence OF |
their troubles. The rise in United |
States Steel extended to rs and in the |
preferred to / BIS There was quite an |
active demand for the locomotive |
stocks, the gain in the preferred reach
ing 8 is. The market closed firm and |
active.
The bond market yielded in the
morning but responded partly to the re-
covery in stock and closed irregular.
Total sales par value S3,7SO,00O. The |
United States coupon fives advanced |
Is per cent. on the last call