The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-01-11
MARKET FALLING
INTO DEPRESSION
Condition of Neglect Becomes
More Evident Every Day
FEW CHANGES IN THE LIST
Rule of Operation Has Fallen Back
to Professional Room Traders On
Basis of Selling on Advances
and Buying on Declines.
FEW CHANGES IN THE LIST

New YORK, January 1O.-The condition of
neglect and professionalism into which
the stock market is falling become more
evident today, not only in the smaller
volume of the trading but In the eccentric
fluctuations of prices. The net changes
In the majority of the list will be found
narrow, but the days range was consider
able and the changes constant and va
rious. The rule of operation has fallen
back to the professional room traders
basis of selling on advances and buying
on slight recessions, the speculation con-
tinued quite active in sugar and Manhat-
tan, but even in these the characteristics
were professional. In sugar efforts were
made to lift the stock on the assumption
that cuts and duties would be RENTED
Manhattan was effected by realizing but
was lifted at one time point over yester-
day. Generally speaking the character
1stic of the market was dullness due to
the lack of outside interest and the dis
continuance of operations by the larger
speculative interest.
The tone leaned towards depression as
the lack of demand made the market vul-
nerable to even light selling pressure
Inc abandonm ent of the bull campaign
In United States steel created a desire
to await better defined status for the
Northern Securities company controversy.
The announcement of the suspension of a
trust and savings institution in Cleveland
was regarded as episode, uncertain in its
immediate results, but with rather sinis-
ter significance in its possible Interior
bearings The suspension was associated
In Wall Street with the difficulties of the
Evrett-Moore syndicate which have been
rather depressing circumstance In Wall
street background for some time past
Inc 1eeiing in favor of conservatism in
the extension of both credits and speeu-
iatlVe ventures was strengthened by this
event. There had been an extensive spec
ulatlon In Delaware and Hudson on con-
nuent assumption that the dividend on
Sne stock was to be increased This as
sumption was strengthened by the action
or the New Jersey Central directors in
jumping their dividend rate from to &
pc: cent. The action of the Delaware
ana Hudson directors today in limiting
the distribution of last years profits to
I per cent, to be disbursed quarterly. was
therefore keen disappointment as it
represented no better return than that
OF last year. The stock was sold heavily.
causing break Of points, with an influ-
ence on the whole market
The unchanged dividend on Louisville
and Nashville was also disappointment
though In much less degree The market
1a1led entirely to respond to the promise
OF a favorable bank statement tomorrow
as indicated by net receipts from the in
terror by the banks of over 81 OOO. 0oO s,,n-
plemented by gain from the sub-treas-
ury OF nearly half a million dollars.
Ihere Is nothing apparent in the domestic
position to explain this indifference. and
II Is supposed to be due to the general
expectation that exports of gold will -.
gin next week.
Inc pond market was dull and rather
irregular Total sales, par value. $2,S15.O00
United States bonds were unchanoed ~,
the last CALL
New York Stock Market.
BY Private Wire to Murphv a. "a