The daily morning journal and courier., 1902-02-14
EtmanctaI.
1HE STOCk M 4 Rh ET.

l Growth of Disposition to Realize Profits New York, Feb. 1S-To-day's stock | market was similar in character to that | of Tuesday, but showed the progressive | growth of the disposition to realize profits where considerable advances had | occurred. The buying and bidding up | of other stocks to make fresh points of strength to cover the realizing was in | evidence to-day, but it was rather less | effective and was less consistently | maintained, the earlier gains being largely wiped out in the late reaction.
 The local traction stocks were under decided pressure, and notwithstanding the support accorded to them, they ex-
 ercised a depressing influence on the rest of the market. The same was true of Amalgamated Copper, which sagged away under constant offerings without much evidence of support, closing at a net loss of 214
 There was no news to account for the weakness The depression of the local fractions was of course due to the proposition of the Brooklyn Rapid Transit directors to issue bonds to the extent of $15O, oOO The argument that the abundant capital would check the diversion of current earnings into the betterments and extensions, and would thus hasten the period of divi- dend disbursements, apparently failed to reassure speculative sentiment. The open buying of the stock by inside in- terests was equally unavailing. The news of the proposed bond issue also upset calculat tions of a coming merger of all the Greater New York transit fa- cilities, which has been an instrument
 in the hands of the spectators for some time past.
 The failure of the announcement of the details of the Metropolitan Street railways new financial plan, which was expected to- day, added to the feeling of doubt and distrust, although that stock itself was the best supported of the group. There was no apparent cause for the reaction in prices in the news of the day, outside of this, beyond the natural disposition to sell at profit what has been bought at lower prices There were reports of renewed rate cut tings among the far western railroads, which may have emphasized the desire to sell their stocks.
 The reports received of weekly gross earnings for the first week in February also showed a rather prevalent tenden- cy to decreases compared with last | year. This was rather notably true of ! the southwestern railroads but there | was marked strength in that group led f by Texas and Pacific with a rise of 2h | on intimations of very large earnings. | There were unusually large dealings in | the Colorado and Southern stocks, which were supposed to be due to ex- pectations of increased dividend dis | bursements. But the common rose an extreme 2ss oyer Tuesdays level late in |, the day after the announcement had | been made of the declaration of only the regular 11h per cent. semi-annual | dividend on the first preferred stock
 Money continued easy and did not en- l ter into consideration. London has ap- | parently been relieved of pressure for | SOll U plAl illo3 anu Aoi tiiCL SNpci to | from here are not in immediate pros l peel. The steel stocks showed some ] early response to the very favorable | conditions reported in the trade, but re- lapsed with the rest of the market. The | market closed slightly irregular, but | generally easy. ..,........
 There was very large business done | in bonds. but the movement of prices |
 
 S5, ,S10. coo.
 United States bonds were unchanged | on the last call,