The Washington times., 1902-02-11
Money Condition Along With
Foreign Exchange Now
Steady.
AMERICAN STOCKS FALL
Speculative Interests in London Alb
sorbed in South African Mining
Property - Railroad SreciaIties
Were Brisk. With Some Adyanccs-
Copper Closes Weaker.

NEW YORK, Feb. 10.-In today's stool
market occasional outbursts of actiyit,
were succeeded by long spells of stagna-
tion. When the trading was at all activ,
prices showed the irregular tendency
toward improvement that characterized
the trading during the greater part OF
last week
When activity fell away prices likewise
receded fractionally. In consequence of
these conditions the market as a whole
presented a very irregular appearance.
Nothing Novel.
Little or nothing that was novel was
comprised in the occurrences over Sun
day, and discussion was largely taken up
with the Unexpectedly large increase in
loans in Saturdays bank statement.
Analyses of the banks report did not
throw any particular light upon this ex-
traordinary feature Of the statement
The transfer of accommodation from
the trust companies TO the banks, and
the shifting OF sterling loans upon local
lenders, both changes being owing TO
the low rates for money probably ac-
counted in part for the great expansion
in the banks loans, while the operations
of the syndicateS engaged in the fotation
of various bond issues contributed to the
same end.
Money Market steady.
Both the money market and foreign ex-
change were steady today, but indications
that gold shipments would be continued
this week were not altogether definite
The statements OF earnings submitted
summarized such news as there was bear
ing upon particular stocks.
Among today's returns was the interest
ing statement of the Peoples Ga Com
pany OF Chicago for the company ended
fiscal year, which showed net earnings in
excess OF IA per cent on the capital
stock.
Reduction in Price.
The showing had little effect upon Peo-
pies Gas in the stock market, as inter
est in the company's earnings is over
Swallowed by the outcome of the litiga
ton against the company, looking to
reduction in the selling prices for its
prouuct.
The market opened active and decidedly
firm. notwithstanding the general and
material declines in American stocks in
London md The disagreeable impression
produced by Saturdays bank statement
Few Foreign Deals.
Foreign houses did not deal extensive
~ in this market, their operations being
confined to the purchase of 5000 shares of
Reading, and the sale Of about double
that amount of the other international
stocks.
Speculative interest in London was
again absorbed in the South African min
ing issues, which advanced further on
the more encouraging news from the
seat of war.
In the railway list the conspicuous fea-
lures in respect of strength and activity
were Southern Pacific and the Reading
shares. Nothing that was novel was pre-
scented for consideration in either in
stance, and the special tendencies dis
played by these stocks appeared to re-
suit entirely from the activity of the
pools engaged in their manipulation.
Railroads Advance.
For similar reasons advances were
Noted in some OF the railway specialties.
such as Des Mcines and Fort Dodge, st.
Joseph and Grand Island, Iowa Central.
Minneapolis and ST. Louis. and the De-
troit and Mackinac land grant bonds.
There were very heavy dealings in the
bond department, also in Wabash de-
benture b bonds, and that quarter of the
market was. indeed, generally strong.
Among the higher priced railway stocks.
Illinois Central, Chicago and Northwest
ern. and st. Paul were decidedly firm. and
in another general class strength was dis
played by Louisville and Nashville, Mis-
souri, Pacific, and Union Pacific.
Advances were fairly common through
out the railway list, but nothing more
definite than more general appreciation
of the wellmaintained prosperity of the
transportation industry was TO be cited in
explanation.
Copper Weak.
The only decidedly weak features of the
market were Amalgamated Copper and
Street Railway. There was
nothing new Of an unfavorable character
touching upon the copper trade, and in
deed. the metal Itself was frmer. but the
speculative community cliIgs TO the no.
ton that there may be further reductions
In the dividends on Amalgamated Copper
stock.
Metropolitan Street Railway was not |
favorably influenced by the announcement |
that the details of the company's financial |
plans would be furnished to the public in
4 day or two, and there was some selling |
Of the stock on the fiat denial of the chief |
financial interests in the new subway road |
that the latter enterprise was to be in |
Guided In the scope of the Metropolitan |
arrangements.
New York stock Exchange, Feb. 10.
High Low Lat