The age-herald., 1902-01-28
WAS NJ RELIEF
 IN STOCK MARKET Professionals Tested the List on
 Both Sides MONEY RATES STIFFENING Conditions Were PowerIess to stInnu- late Speculation In Any Glass of
 SpeciaIties-The Session Closed Dull and Firm.
MONEY RATES STlFFENlNG

New York, January 27.-There was no relief from the semi-stagnant condition of speculation in stocks today. Profess sional operators continued their attempts to find the market by persistently test ing it both by sales and purchases, put they found the great powers in the man cial world absolutely quiescent and await ing some turn of events. The stiffness of money rates, which persisted for some time after the turn of the year has yield ed entirely and the ordinary borrower is able to obtain money on call on very easy terms. Returns of gross earnings of railroads, which began to come in today for the third week in January show gratifying increases over last years high level Today's break in the grain mar kets, while due to a condition of over speculation and attributed ostensibly to the large movement from other countries warrants presumption of promising conditions for our own winter wheat crop, upon which much hinges. These consid- erations, however, were powerless to an- innate the stock market. There is a very general agreement that the ultimate de- cision of the question of the legal stand Ing of the Northern Securities Company Is the thing really awaiting for the next general movement in the stock market. There is also importance attached to the definite shaping of the government financial operations which is given addi- tional importance by the growth of the surplus in the revenues decreases in the available supply of bonds for redemption and the pressure to retire bank note cir culation Legislation for the reduction of the revenues on the one side or for spe- cial government expenditures on the oth- CT are studied with great attention owing to their bearing on the market supply of money.
 The formulating of demands by coal miners has been a cause of some depres- sion. The stiffening of the discount rate In London and the advance in the price of gold may be a symptom of renewed demand for gold from that quarter as the Bank of England is obviously striving to make it's rate effective in the market in preparation for the coming government loan. Of the special movements in to- days market which gave it its whole character, that in Amalgamated Copper was most conspicuous. Raw copper was advanced for the first time since the at- tempt to maintain the price was aban- doned by the Amalgamted Copper Com- pany. The gain which resulted today for Amalgamated Copper was 21k points. The advance in the price of lead gave strength to the National Lead stocks and Ameri- can Smelling. The United States Steel stocks were lethargic. There was desul- tory speculation in Sugar, with final net gain of point. Notable gains in Chica- go and Eastern Illinois. The New York Central and St. Louis stocks, c. c. c. & St. L. and Rutledge preferred were with out explanation.
 The market closed dull and firm.
 There was cessation of last weeks ac- tivity in number of semi-speculative bonds and the market was duller and irregular. Total sales, par value S3'O2o,- OOO United States new As advanced 4 per cent on the last call.
 The sensational cent break in May oats at Chicago promoted energetic liqui- dation in the local markets, wheat and corn declining a cent per bushel with some rally near the close on covering. Since January wheat has lost cents a bushel, while during the last forty days corn has declined about cents.
 New York Stock Market.
 By Private Wire to Murphy & Cn