The age-herald., 1902-01-22
STAGNAT|ON IN
 STOCK MARKET Movement of Prices Exceed ingly Sluggish and Marrow MONTH T0MONTH ADVANCE The count,v's Foreign Trade Balance Although stIl In Our Favor, Shows Progressise Declines--show Of
 Sure lgth In Sugar.
MONTH T0MONTH ADVANCE

New York, January "5.-Today's stock market had thc same appearance oi stagnation and -,omnolence which mas pervaded it of late. The movement or prices was exceedingly sluggish and mar row and the volume of dealings Tell away further The net changes are small and mixed. To understand the character of the market comparison with previous conditions will be helpful. This time last year was a period of constantly develop ing projects for commissions and cen- tralization of control on a scale never before witnessed. There was a progress sive advance from month to month in the volume of trade balance in favor of this country. This and the operation of the currency and refunding law were rapid ly expanding the countrys circulation and expanding the country's circulation and providing the requisite financial facili- ties for the vast loan expansion in con- nection with the great projects ill hand. At present the stock market misses these stimulating influences While there is nothing positively unfavorable in the outlook, there is a surfeited feeling from the undigested mass of last years great projects. The country's foreign trade bal ance, although still in our favor, shows progressive declines from Missouri to Missouri compared with the correspond ing months of last year. The national banks instead of putting out additional note issues are retiring their circula- tion up to the monthly limit allowed by the law, and applications are already on file for withdrawal of circulation suf- ficient to express the legal limit into March.
 Talk of new combinations is heard but only with skepticism and distrust There Is a latent fear that such combinations may be for hostile purposes rather than for mutual benefit. Rumors have circu- lated for a few days that all the great banks and trust companies in New York and even the insurance companies are crystallizing into two groups along the lines of cleavage that developed in the financial battle of last May. It is such general considerations as these that must be looked to to gain light on the present stock market, There was a show of strength in Sugar and Metropolitan, but the gains were subsequently wiped out. Glucose continued its recent advance to the amount of a point but afterwards fell h below last night.
 ? There was an active demand for Mexi- can Central at an advance of 13s accom- panied by reports of new bond issue and the acquisition of additional lines. Ma tional salt, after long period of inac- tivity was offered down over Il points below the last sale and then rallied D.. The preferred lost f. No explanation was offered beyond the obstruction to the pl reorganization. American Tobac- c, stricken from the stock exchange lisG ywng to the insignificant amohnt of the stock outstanding and the facilities thus offered for manipulation and the pos sible, working of a corner. The market showed some recovery and closed irregu- lar. Consolidated Tobacco As continued to make up the largest part of the bond market and were reactionary. Total sales, par value, $3,730000.
 United States bonds were all unchanged on the last call.
 New York Stock Market.
 By Private Wire to Murphy & On.