The age-herald., 1902-01-18
STOCK MARKET
 SHOWSSTRENGTH Professional Manipulators Had Little to Do With Advance FEW STOCKS FAVORITES
Continued Strength In Southwestern Roads Force an Advance of to 3
 Polnts-IndustriaIs as a Group Came Forward Prominently.

New York. January 171There was in- creased activity In the stock market and show of strength but the dealings did not reach much over a half million shares and were largely congested in the few stocks which were favorites in specula- ton. Professional manipulation had not little to do with the advance in prices at some points and the movement was clearly directed against the short inter- est which had been accommodating during the downward course of prices this week. The recovery from a recent illness of leading operator who is credited with the leadership with the protective forces of the market on the bull side was believed ito explain important part of the days transaction. Other factors which account ed for the rise wers partly in the shape of vague intimations as@ general aspirations and general assertions rather than of explicit information Thus statements were circulated as to the phenom enal earnings of the anthracite carriers which were asserted to reach IS and 20 per cent Tor the leading high priced stocks. There was no difficulty found in marking up these stocks and there was a heavy de- mand at the same time for the lower pric- ed stocks in the group and especially the Readings There were resulting advances in Lackawanna of Il points, New Jersey Central ex-diyidend 3, Reading 23s and other members of the group 1 to points The movement was extended in some measure by sympathy to some of the soft coalers. There was continued strength In the Southwestern railroads as a group at advances of to points. This might be accounted for by reports of much need ed rains in Texas.
 The industrials as a group came for ward into rather greater prominence than of late. Such conspicuous stocks as Sugar, Amalgamated Copper, General Electric and the local fractions showed gains of one to two points. American To- bacco gained another thirty-hve points today, selling at 235, with later bid at R45. This stock Is exchangable at par for 200 of Consolidated Tobacco fs. There Is said to be less than 5 per cent of the stock still outstanding Very glowing ac- counts were put out of the rate of expan- sion of tobacco business; American To- bacco preferred gained six and the Con- rolidated company's bonds were strong and active.
 Late In the day St Paul was bid up quickly nearly two points and other grangers and Pacifics hardened in sym pathy. This late movement was the eff fective factor in keeping the close firm, as a wavering tendency had developed before the St. Paul rise. The bulls had fin their favor the prospect of a strong bank return tomorrow. The known move ments of money indicate a gain in cash of nearly S,000,000 of which sub-treasury operations have yielded S4,1250O0. These represent operations up to Thursday night. Bank statements for several weeks past have failed to reflect the full gain indicated by the known movement of money. There is theory that there was large transfers of deposits from New Jersey to escape the tax payments and these have been returned during the week. Such a movement would consid- erably augment the indicated gain in re- serves.
 The railroad bond market was active and strong; mortgage of railroads in the Southwest being in particular favor. To- tai sales, par value, $407O,000 United States bonds were unchanged on the last call.
 New York Stock Market.
 By Private Wire to Murphy a Ca