Evening star., 1902-02-19
Lack of Commission House
Orders in Early Trading.
COPPER FREELY SOLD
INSIDE INTERESTS LET 90 WHEN
IT REACHED 10.
Rumor About the Retirement a Big
Block Of Preferred
Steel Stock.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. February 19.-The early
trading In today's stock market was rather
commonplace as the result of a lack or
commission house business and inaction on
the part OF the pools. The duilness brought
out some long stock. but there was little
aggressive selling for the short account.
An advance In the rates for sterling ex-
change was taken as an Indication OF prob
able early gold shipments although The
fact that advances We're recorded In Paris
and Berlin was lost sight of.
Should some gold go out. as is likely at
this season. the amount will not he large.
The local money rate ruled around %. per
cent. and there Is no concern on this score.
A rally In the short interest In Almaga-
mated Copper was one of the features OF
the early market and helped to keep the
more active trading stocks steady under
the limited demand.
Around 10 inside stock was again for sale
In round amounts and the campaign Of
lower prices is evidently vigorously cham
pioned by those in position to know most
about the property. The buying OF the
steel stocks was made conspicuous "a
possible. in the hope OF attracting an en-
thusiastic following. but failed of its pur-
pose. Purchases of 25OO shares by two
houses known to be closely associated
with the leading banking interests in the
property advanced both issues fraction
ally only.
The scheme for retiring 500 OOO.OO0 OF the
preferred stock for per cent bond was
given credence in certain quarters. but the
average trader failed to see the exact work.
Ing Of the plan. The common stock would
seem to be In position to gain about z per
cent on the total amount Of preferred stock
Cancelled.
The outside steel stocks were In fair de-
rnand because OF the prosperity in the
trade and the fact that orders for the full
year are already booked.
Sugar was strong under advices from
Washington predicting an early reduction
Of sugar bOuntieS with Cuba. Action by
the House Is expected to be reasonably
prompt. but friction i'm the Senate seems as
sured.
Monon issues were features OF the rail-
road list. the common stock selling up over
3 per cent under a good demand. inspired
by rumOrs OF consolidation with larger
property. 1t Is also suggested that a divi
dend on the common stock could be de-
clared from current earnings Kansas City.
Fort Scott and Memphis issues were strong
as the result of q report that the income
bonds would shortly be refunded to the
advantage of the preferred stock.
Wheeling issues were bought for Gould
interests without effort to force the
movement or to attract public interest.
The Gould group whole was irregular
under mixed selling.
Union Pacific was firm at slight ad-
vance based upon desire to cover stock
prior to the dividend. st. Paul and the
western roads generally attracted a better
demand. Reading issues were in splendid
demand and advanced easily under inside
buying. Erie shares were heavy and the
bond issue is again talked OF in well-in-
formed circles